CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
March/April 2022
Planning Your Company's Financial Future
It’s tax season, which provides a good opportunity to assess your business and take stock of where you are, where you’re going, and what steps you can take to plan for a successful year ahead.
Look at the Big Picture
Review your business's corporate structure to determine if it's working for you. Analyze the company's cash flow to see if there are financial strategies you could use to improve your bottom line. As a business owner, you must be aware of your total financial situation before making changes or investment decisions. Keeping personal and business accounts separate can help you weather a downturn in the business, since financial support from personal accounts can keep you solvent.Protect Your Assets
An unexpected event could upend your small business. Insurance can help protect it. Types of insurance coverage you may want to consider are life insurance to protect your family's finances should anything happen to you, and business insurance, including business liability insurance, property coverage, umbrella insurance, workers' compensation, and so on.Choose a Retirement Plan
Choosing a retirement plan for yourself and your employees should be high on your list of planning priorities. Many retirement plan options are available for small businesses. If you don't currently have a plan in place, review each option and select one that's appropriate for your company.Create a Backup Plan
What would you do if profits took an unexpected downturn? Having a financial cushion can help your business through any lean times. Consider alternative ways to make money, such as adding a new product line or service, to keep your customers engaged with your business and help you turn a profit.Set Strategic Goals
What are your business goals for the next five, 10 or 20 years? If you can't answer that question, it's probably time to draft or revamp a plan for your business's future. Setting financial and other objectives gives you a roadmap to follow and a means to determiine whether you're on track to reach your goals.1-05224357
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
The sender and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.