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Financially Simple Bizcast


The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Jan 28, 2021

In episode 331 of Financially Simple, Justin looks at how much Life Insurance a Business Owner actually needs.

As a business owner, there are a lot of "What If?" scenarios, one of which is, "What if I die, will my family be taken care of?" In this episode, Justin goes over how to calculate how much life insurance you should need in order to cover the living costs of your family, as well as factoring in outstanding debts and loans on your business and a few common mistakes business owners make when taking out insurance.

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TIME INDEX:

00:45 - How Much Life Insurance Does a Business Owner Need

03:09 - Personal Factors

06:38 - Factorig in Debt

07:59 - What Matters

10:43 - A Common Mistake

13:37 - Summary

 

RESOURCES:

Financially Simple Educational Website

Financially Simple on YouTube

Financially Simple podcasts are recorded on a Blue Yeti Microphone & Samsung Notebook 9.

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BIO:

Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.