Three questions with Grant Bledsoe
We asked Sacramento-based financial advisor and small business specialist Grant Bledsoe to answer three questions of interest to entrepreneurs looking to understand the benefits of working with a financial advisor.
As the founder of Three Oaks Wealth, a registered fee-only investment advisory firm serving clients nationwide, Grant knows firsthand what it takes to succeed as an entrepreneur and he applies this experience to his business owner’s clients. to assist.
Q: What is one of the most common challenges you see with the entrepreneurs you work with when it comes to financial planning?
Grant: One of the most common challenges I see for entrepreneurs and business owners is cash flow.
How should your bank accounts be set up? How should you separate your business activities from your personal activities? How much money should you keep in your business? How and when should you receive benefits from your company? What about paying yourself? What about setting aside cash for estimated taxes?
These are all very real issues that every business owner faces and are fundamental to any decent financial plan.
Q: How do you help entrepreneurs in your role as a financial advisor overcome this challenge?
Grant: We’re doing an exercise to predict the monthly cash flow of customers in both their business and their household.
Once we have an idea of their operating costs and other future expenses, we help our clients make good decisions about how much money to keep in the business and how much to withdraw.
We can then weigh that against their money needs as a household, and start making logical decisions about their emergency fund, retirement contributions, and other planning needs.
This post Looking for a financial advisor for entrepreneurs
was original published at “https://wealthtender.com/insights/financial-planning/financial-advisors-for-entrepreneurs/”
