The news can be negative and seem bias at times no matter which side of the political spectrum you fall on. Its best to listen and collaborate with trusted advisors as you consider the facts and make decisions.
Have you ever wondered if your retirement assets are protected from bankruptcy and lawsuits? Perhaps you’ve never had to consider such a thing. But the way 2020 is going, at this point it feels like anything could happen! In the words of Ed Slott, “In the current environment with so many small businesses on the brink of closing and struggling employees in limbo, increased bankruptcy filings could be around the corner. It is imperative to understand which accounts hold what protections, and how retirement assets are shielded from those anxious to get a piece of the nest egg.”
We’re going LIVE today to talk about it! Also, Heidi has some deadline updates, and we’ll celebrate Social Security’s 85th birthday!
We’ve noticed something over the years … you like Shea Stats! YAY! Honestly, who doesn’t love a good stat once in a while? Which is why we’ve decided to devote this week’s show entirely to Shea Stats and Chats! Dennis will give his immediate feedback on the most pressing information and what it means for you.
Ugh … sorry. This is a depressing headline. I can hear Ron Jolly playing his Debbie Downer sounder right now. The truth is, regardless of how promising the stock market has looked lately, there are some realities that we still must face because of COVID-19. For example, the indestructible Baby Boomers are in one of the highest at-risk age groups for contracting the virus. They are also the ones taking care of aging parents while trying to support adult children and grandchildren. And the workplace is changing at a rapid pace to adhere to social distancing requirements.
So while the country waits with bated breath for the economic recovery, Boomers may not have that luxury. The time to plan is now. Thankfully, Forbes wrote a great article, “8 Ways Coronavirus Will Drastically Alter Boomer Retirements,” to help guide us.
“It’s not about the cars, it’s about the people,” said Bill Marsh Jr., co-owner of Bill Marsh Automotive Group in Traverse City. This deep-rooted value came from their father, Bill Marsh Sr., who bought a poor-performing Buick dealership in 1982 and made it a top-performing dealership within the year. He brought his sons Jamie, Bill Jr. and Mike into the business and eventually sold it to them. What does it take to transition a business within the family? It takes a lot of heart and consideration. The Marsh Brothers will be in the studio today to share their experience.
Why?
Because, according to the U.S. Census Bureau, Baby Boomers own 2.34 million small businesses in the United States, employing more than 25 million people. That’s a lot at stake for those who fail to plan. We want to help you start the conversation now.
Tune in and find out how the wisdom of Bill Marsh Sr. set his three sons up for success.