In this episode, I'm joined by Jennifer Butler, Chad Tourin of Coastal Wealth to discuss the vital role of personal financial planning for business owners. The conversation begins with a focus on the necessity for entrepreneurs to separate their personal and business finances, emphasizing the dangers of relying solely on business assets for retirement. We highlight the broader scope of personal financial freedom, which includes not just savings, but also relationships, personal plans, and overall well-being.

Midway through, the dialogue shifts to the concept of "freedom" in the context of retirement planning. The speakers explore the importance of being prepared for future economic shifts, including a potential depression in the 2030s, and the need for diverse investment strategies to mitigate market risks. They also discuss the evolving landscape of banking and investment, and how business owners can adapt to these changes.

We conclude with a discussion on the unpredictability of life events and their impact on business and personal finances. Personal stories illustrate the importance of planning for the unexpected. Jennifer and Chad share their insights on being proactive financial advisers, helping clients navigate through their financial journey with personalized strategies, especially as they approach the later stages of their business and personal lives.

Jennifer Butler: Jennifer is dedicated to making a difference in people's lives. She is committed to building long-term relationships with her clients and helping them reach their goals is her number one priority. Drawing on her knowledge, experience, and world-class tools, she helps build financial freedom for her clients. Whether your goals include preparing for milestone life events like retirement or college, protecting your family's future or you’re simply looking for life, disability income or long-term care insurance protection, she promises a new level of attention, insight and capability.

Find Jennifer here:

https://mycoastalwealth.com/jbutler

Chad Tourin: Chad Tourin, President of the Private Client Group at Coastal Wealth, a MassMutual firm, is a former CPA and attorney with a strong background in financial planning, particularly for business owners and high net worth individuals. His expertise includes asset protection, exit planning, wealth management, and more. Since joining Coastal Wealth in 2018, Chad has achieved significant recognition, including being named 2020’s Advisor of the Year and membership in prestigious groups like Society 1851. He's also a noted contributor to various media outlets. Passionate about community service and financial education, Chad actively engages in speaking engagements and workshops, including at Nova Southeastern University, and supports children's health and well-being through non-profit involvement. He holds degrees from the University of Florida and a law degree from Florida International University. Chad enjoys family time, sports, and community involvement in his personal life.

Find Chad here:

https://mycoastalwealth.com/ctourin

To learn more, visit:

www.servingstrong.com

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