Retire While You Work® Podcast
Join us as we discuss various topics to help you find the path to viewing money as a means to the true currency, TIME, and learn how to build more memories and experiences.
View All EpisodesJoin us as we discuss various topics to help you find the path to viewing money as a means to the true currency, TIME, and learn how to build more memories and experiences.
View All EpisodesWhat if you could do what you're passionate about and achieve a work-life balance? What if you were relieved of the pressure to have some massive amount saved?
Learn MoreBusiness exits are racked with emotion and indecision. Learn how to approach your sale without the emotional burden, so you can get what you need.
As a business owner, you spend most of your working years on steady, profitable expansion. When you’re calling the shots, there’s no limit to your growth, and there’s always more to achieve.
Then, seemingly out of nowhere, the time comes to consider hanging up your hat as the leader and strongest work horse. It’s time to slow down, step back and start planning for a new goal: your business exit.
“You’ve spent your whole life putting in the hours — building something strong from the ground up. Business growth is what you know. It’s your skill, your identity,” said David Adams, President of David Adams Wealth Group. “But what happens when it’s time to change that?”
When assessing a business exit, David Adams Wealth Group completes a comprehensive Personal and Financial Assessment to determine the guidelines for a profitable business sale. “When determining how much you’ll need in your pocket after your business is gone, it’s actually most effective to start with your personal goals,” David said.
First, David will help you figure out how you’d like to spend your time once the business is sold. Together, you’ll determine whether you’d like to leave a legacy for your family, how much you want to travel, what hobbies you’ll spend money on and more. Essentially, you’re planning to do all the things you’ve wanted but put off because of work.
“It often opens up a new dialogue between husband and wife and, sometimes, within the larger extended family,” David said, “but together, we’ll evaluate how much you’ll need to live the life you’ve imagined.”
Next, it’s time to evaluate the financial side of the sale. David will walk you through possible future expenses, including any future moves or estate changes, health costs and more.
“We evaluate your needs and wants, so we have a gameplan for exactly how much you’ll need to feel safe and happy after working so hard for so long,” David explained. “We believe this is a more efficient process than trying to evaluate the exact worth of your business at the time for the sale.”
By determining how much you’ll need, as well as how much you want, you can make the decision to sell based off a secure plan and a single target number — not an emotional, reactive or gut decision during a crucial moment. Then anything above your target is, essentially, gravy. “This process gives people a range to make decisions within,” David said. “It lessens the emotional burden of the decision to sell, and for how much. Otherwise, the lack of clarity breeds anxiety, instead of allowing you to prioritize what’s important: the security to continue achieving more.”
To learn more about planning your business exit — or retirement planning for business owners — please visit davidadamswealthgroup.com
Adams Wealth Partners, LLC is not a registered broker/dealer and is independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC
Neither Raymond James Financial Services nor any Raymond James Financial Advisor renders advice on tax issues, these matters should be discussed with the appropriate professional.
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
The running stock ticker is not a recommendation to buy or sell stocks of the companies pictured.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, marketed as Adams Wealth Partners. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.Adams Wealth Partners is separately owned and operated and not independently registered as a broker-dealer or investment adviser.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP® holders at Adams Wealth Partners, LLC are: David Adams, Myles Zueger, Carson Odom, and Spencer Provow
CPA holders at Adams Wealth Partners, LLC are: David Adams, Carson Odom, and Christine Kinsley
Please note that all archived content is for informational purposes only. Investment decisions should not be based on the content provided herein. For the most up-to- date statistical information and analysis, please contact your financial professional.
Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.
The 2024 Forbes ranking of America’s Top Wealth Management Teams Best-In-State, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 3/31/2022 to 3/31/2023 and was released on 01/09/2024. Advisor teams that are considered must have one advisor with a minimum of seven years of experience, have been in existence as a team for at least one year, have at least 5 team members, and have been nominated by their firm. The algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 10,100 team nominations, 4,100 advisor teams received the award based on thresholds. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please see https://www.forbes.com/lists/wealth-management-teams-best-in-state/ for more info.
Barron’s Top 1,200 Financial Advisors 2023, is based on the period from 09/30/2021 - 09/30/2022 and was released on 03/15/2023. 5630 nominations were received and 1,200 won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More:https://www.raymondjames.com/award-disclosures/#2023-barrons-top-1200
Please note that all archived content is for informational purposes only. Investment decisions should not be based on the content provided herein. For the most up-to- date statistical information and analysis, please contact your financial professional.
Raymond James is not affiliation and does not endorse the above-mentioned organizations.
Nashville Wealth Management & Financial Advisors | David Adams CPA, CFP® | Copyright © 2024 | Privacy Notice | Legal Disclosure