SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5241
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
November/December 2025
Integrate Personal with Business Financial Planning
As a business owner, you may be caught up in end-of-year planning for your business. But personal financial planning is equally important. As you work with your financial and tax professionals to plan for your business, consider what you need to do to stay on track with your personal finances, too.
Start with Your Goals
Think about what you'd like to accomplish in the coming year. Do you want to increase your savings? Buy a second home? Start a college fund for your children or grandchildren? Once you've defined your goals, find a balance between investing in your business and allocating money toward your personal financial plan.Build a Bigger Emergency Fund
Because any business can have an off year, it's essential to maintain adequate personal reserves to weather a downturn. While a general rule of thumb is to have at least six months' worth of expenses saved in a cash account, business owners may want to exceed that amount. Building alarge emergency fund can help ensure that you have enough personal savings to maintain your lifestyle if business income doesn't meet your projections.Plan for the Future
Consider whether the mix of stock and fixed-income investments in your portfolio fits your current risk tolerance and your time frame for needing the money. Be cautious about investing in companies from the same industry as your business. A sudden industry downturn could affect both your business's profits and your portfolio's returns.Fund Your Retirement
Adding money to an existing retirement account or setting up a new plan may reduce your tax bite. Two plans to consider: A SEP IRA allows you to contribute to the plan for your employees and yourself. If you don't have employees, a Solo 401(k) plan allows you to maximize your contributions because you're contributing to the plan both as employer and employee.Think About Estate Planning
Planning may minimize estate taxes and provide for your beneficiaries. A buy-sell agreement funded with life insurance transfers your interest in the business to a partner or family member, while providing liquidity for your heirs.CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
R.I.C.H. Planning Group, LLC and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.