Business planning · Las Vegas
Financial planning for Las Vegas business owners who carry it all
You built something real. Randy helps you protect it, separate your personal finances from the company's, and plan for the day you hand it off, so one bad break does not undo years of work.
The short answer
What should a business owner's financial plan include?
A business owner's plan should include protection if a key person dies or becomes disabled, funding for a buy-sell agreement so ownership transfers cleanly, a retirement plan for you and your team, disability coverage for your income and your overhead, and a succession plan for the day you step away. It should also keep personal and business finances separate so each one is protected.
Protection
Key-person coverage
Keep the doors open if the business loses the person it depends on most.
Ownership
Buy-sell funding
Cash ready to buy out a partner's share at a fair price, without draining the business.
Retirement
Owner benefit plans
SEP, SIMPLE, solo 401(k), or 401(k). Save more for yourself and help recruit and keep your team.
Income
Disability and overhead
Replace your paycheck and keep rent, payroll, and bills covered if you cannot work.
Why business owners need a different plan
For most owners, the business is the biggest asset they own and the source of their income at the same time. That concentration is what makes owners successful, and it is also what makes them exposed.
Randy helps Las Vegas business owners answer the questions that usually get pushed to "someday":
- What happens to the business, and to my family, if I cannot work for six months?
- If my partner dies, do I end up in business with their spouse?
- How much can I put away for retirement through the business this year?
- Who takes over when I am ready to step back, and what is it worth?
Succession planning, in three moves
Name the successor
A partner, a key employee, family, or an outside buyer.
Agree on value
Work with your CPA on a valuation method everyone accepts.
Fund the transfer
Make sure the money exists when the moment comes.
FAQ
Questions people ask Randy
Straight answers. If yours is not here, ask it on the call. That is what it is for.
What is key person insurance?
Key person insurance is a life or disability policy the business owns on someone the company cannot easily replace, often the owner or a top producer. If that person dies or becomes disabled, the policy pays the business, which can cover lost revenue, recruiting, and debts during the transition.
How is a buy-sell agreement funded?
Most buy-sell agreements are funded with life insurance, and sometimes disability buyout insurance, on each owner. If an owner dies or becomes disabled, the policy provides cash to buy that owner's share at the agreed price, so the remaining owners keep the business and the family gets paid fairly. Your attorney drafts the agreement. Randy helps make sure it is funded.
Which retirement plan is best for a small business?
It depends on your size and goals. A SEP IRA is simple and flexible. A SIMPLE IRA works for small teams that want employee contributions. A solo 401(k) can allow higher contributions for owners with no employees, and a traditional 401(k) fits growing companies. Randy compares the options with you and your CPA.
Do you work with my CPA and attorney?
Yes, and he prefers it. Randy coordinates with your tax and legal advisors so your insurance, retirement, and succession pieces line up with your tax strategy and legal documents. Randy does not provide tax or legal advice himself.
Keep exploring
Other ways Randy helps
Retirement
Retirement Planning
A paycheck plan for life after work: income mapping, Social Security timing, and a clear handoff from saving to spending.
Explore retirementProtection
Life & Disability Insurance
Protect the income your family and your business run on, sized to your real numbers and not a rule of thumb.
Explore protectionWealth
Wealth Planning
Turn what you earn into what you keep: savings structure, tax-advantaged accounts, and a long-term investing plan.
Explore wealthFree discovery call
Protect what you have built
No jargon, no pitch deck. Tell Randy where you are and where you want to be, and leave with a clearer picture than you walked in with.
- Free 30-minute call, in person, by phone, or on video
- You leave with next steps, whether or not we work together
- Evenings and Saturdays available by appointment
Rather talk now? (702) 349-2508
Book your free discovery call
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