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Business Owner Case Study

Mark, 59

Problem: reduce taxes, create a reliable income stream for retirement, and assist with the succession plan of Mark’s roofing business.

The Challenge:

Mark has built a very successful roofing company in the greater Modesto area. He has several office employees and around 15 service-specialists who complete the jobs around town. Mark loves his company, but feels it's time for him and his wife Deb to retire (removing himself from the business) and focus on spending more time with their grandkids.

The challenge? They weren’t sure how to preserve it all during retirement and were nervous about the succession of their business. Plus, they wanted to make sure they had enough money to leave a lasting legacy to their children and donate to the local animal shelter Deb loved to volunteer at.

Balam Wealth Management's Solution:

Mark was referred to Balam Wealth Management through a friend, and vetted them online before setting up an initial call. Mark was pleased to find that lead planner Joel Balam was AIF certified and had business succession planning services on their website.

A comprehensive plan was put together to meet all of their needs:

  • An income distribution plan that would allow them to maintain their standard of living
  • Reduction of tax liabilities through charitable & insurance strategies.
  • A written business succession plan that detailed key employees & splitting of responsibilities, an introduction to a business valuation specialist, and a longevity plan to ensure his employees stick around even when Mark retires.

The Value:

Mark and Deb are now happily retired; they enjoy spending more time with their grandkids and less time worrying about managing the business. Mark still comes in from time to time to connect with his team and loves to see that his company is still growing even after his retirement. 

Both Mark and Deb still work with Balam Wealth Management, who now focus on their comprehensive financial plan, including planning for long-term care and estate planning to keep their wealth in the family.


Note: The above case studies are hypothetical and do not involve an actual Balam Wealth Management client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Balam Wealth Management is engaged to provide investment advisory services.

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