Jan 17, 2022
In episode 394 of Financially Simple, Justin takes a moment to go over what you as a business owner can do to try to prepare for the next financial crisis.
National and global catastrophes that happen unexpectedly, such as the current COVID-19 pandemic or even the 2008 financial crisis can make or break a business. In this episode, Justin goes over nine ways to help you protect your business and yourself during troubling times and to even potentially come out better.
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00:42 - How to Use Your Business's Revenue to Prepare to Maximize the Next Crisis
04:01 - Positioning
05:46 - Handling Company Cashflow
08:12 - Cover Expenses
09:35 - Home Emergency Fund
11:27 - Operational Expenses
14:48 - Line of Credit
16:33 - Receive Retirement Plan Match
17:26 - Fully Fund HSA
18:17 - Max Out Your ROTH IRA
19:04 - Tax Planning
20:50 - Non-Qualified Assets
23:12 - Summary
26:30 - Wrap Up
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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