Voiceover: [00:00:00] Welcome to Metcalf Money Moment. The podcast unlock financial clarity and confidence with expert insights to achieve your goals. Hosted by Jeb Graham, Ethan [00:00:15] Hutchinson and Eric Wymore. Each episode offers decades of combined expertise in wealth management, retirement planning, and more. Join us for practical strategies to inspire your financial journey.

Now, your host.[00:00:30]

Jeb Graham: Welcome to Metcalf Money Moment podcast. My name is Jeb Graham. I'm here with Eric Wymore and Ethan Hutchinson, who are co-hosts and partners, uh, with Metcalf Partners and on the [00:00:45] podcast. And, uh, today what we want to talk about is, uh, you know, at Metcalf Partners, we get a lot of clients that ask us, you know, who our kind of core market is and who we work with the most.

And, and we've always defined it as, as three key, [00:01:00] uh, clients. If we're, if we're gonna kind of identify and break 'em down, they usually fall into one of three buckets, right? And one of which is gonna be what we call our emerging affluent clients. And that's gonna be a, a younger person that's maybe a higher earner that wants to put [00:01:15] together a plan, maybe Adoesn't have a huge asset base right now.

Uh, but that's kind of a great long-term client for us, and, and we can really help that person over the years. Then we have our, what we call our at or near retirement client, and that's someone that's maybe within 10 years of retirement, [00:01:30] they've got a nest egg put together. And, uh, and they're just looking to figure out how to, how to, how to retire and, uh, and put all the pieces of the puzzle together.

And then the third one, and this is the one that we really wanna focus in on today. And if I'm being [00:01:45] honest, it's one of my favorite type of clients to work with is the business owner client. And when you look at a business, I'm talking about a small business owner, there's a lot of different things, uh, that we can do for, for a small business owner, uh, and a lot of ways that we can help them, whether it's to save money on taxes, [00:02:00] to just kind of get started and putting away a nest egg to exiting their business.

So, um, so that's the third bucket. And today we really wanna focus on, uh, a few key areas, uh, that we work with small business owners in, uh, so that we can basically. [00:02:15] Uh, let let our, our audience and our clients know, uh, what we can do for 'em. So today what we're gonna hit on is, is first we're gonna hit on the different types of retirement plans we've recently had, Casey McCarthy, uh, who is, uh, one of our partners at EIP on who talked about retirement [00:02:30] plans.

Ethan's gonna hit on some retirement plans that, that we do, uh, that don't require a third party administrator. Uh, and then Eric's gonna hit on some insurances that we do. If you think about a business, you've got key employees, you've got a lot, a lot of insurable interests, [00:02:45] and, uh, and we can certainly help through those.

And then, uh, after that, I'm gonna talk a little bit about exit planning. Uh, we've been fortunate enough and our clients have been fortunate enough, uh, over the last five years to work with several clients that have exited their business. And, uh, we've learned some tricks of [00:03:00] that trade as well. And so, uh, so those are kind of our, our main pieces with, with business owners.

And I think we're gonna go ahead and start, and let's talk about different Ethan different retirement plans, um, that we do as an organization.

Ethan Hutcheson: Yep. Yeah. There's, there's three main, [00:03:15] uh, employer plans that we'll work with. Um, the, the solo K or the individual K, um, the Sep IRA and the simple IRA. Um, a lot of times when we're working with, uh, business owners, they might be 10 years into [00:03:30] owning that business, and, and they still haven't set up, you know, their retirement plan.

Uh, for that business and they're just saving money into a pre, pre-tax traditional IRA or they're looking at a joint account and they're just putting the minimums or the maximums into those accounts. And for reference, [00:03:45] an IRA the most you can put into an IRA is a is just around $7,000, give or take, depending on if you're over or under age 50.

So where, where we like to start is understand the client's business structure. How many employees do [00:04:00] they have? Is it an S corp? Um, do you pay yourself a salary? So there's a lot of, um, underlying questions and we work really closely with, uh, our client, CPA teams as well to kind of dive in and, and really understand the business.

The, the first one I'll talk about, uh, it's one of [00:04:15] our favorites. Uh, it's called the solo K, or an individual K. Um, the K at the end of that is it's 401k. Um, and. You, you can have this plan, this solo k if it's, uh, just you in the business. Um, there's a [00:04:30] caveat. You, you, your, if your spouse is employed, um, they can also have a solo K that's attached to that business.

Think of this as a lower cost, uh, 401k for your business. Again, two people in the business, husband and wife, [00:04:45] spouses, together, they're gonna be qualified. They're gonna be qualifying, uh, contributors to this, this plan. The solo K acts very similar to a 401k. So your, your max uh, employee deferral is gonna be 23,500 for the 2025 tax year.

The [00:05:00] employer can do a profit share on top of that and put up to $70,000 total, uh, inside of that solo k. So for a husband and wife that are running a business together. They can put about $140,000 away into these plans. So very, [00:05:15] very unique. Um, also all these plans we're talking about today have a Roth component as well, so you can get a pre-tax, uh, contribution and get a tax deduction in the year you make that.

Or you can just go ahead and pay your taxes and get some Roth dollars in there [00:05:30] that you never have to worry about taxes again. Um, so solo Ks are, are really, really unique because there's a lot of flexibility, um, that we have with our clients and we work really, really closely with the, uh, the CPA teams as well.

Um, personally that's my favorite one. I we really love working with, with clients [00:05:45] that are just like husband and wife, are really, really small business owners and can really show them the impact that those solo cake contributions can do for them over 20, 30, 40, 50 years.

Jeb Graham: And I don't know if you hit on this too, but I love what the other thing we love about, so Okay.

Right, is that you [00:06:00] don't have to file a 5,500 until you get to $250,000 in there. And then it's not a real 50, a real 5,500 if you will. It's a, it's a 5,500 easy. Uh, so it's something that the business owner and their accountant can basically fill out and send into the IRS. So, [00:06:15] so that just makes it a lot less costly to administer right.

Than what a full 401k is. And I am, I'm with you, Ethan. That is, that is my favorite plan, uh, to do with a client just because they can put away so much money. There's so much tax benefit and it's so, [00:06:30] it's just not costly. It's just easy.

Ethan Hutcheson: So, yeah. And, and the costs deter a lot of folks from. From signing up for a 401k, they think, wow, this is gonna cost me, you know, $20,000 a year to keep this 401k up and running.

And the reality, there's, there's so many tax [00:06:45] credits and tax incentives that are out there that the IRS is blessed through the, uh, secure 2.0 act that, as Casey alluded to in our previous podcast, you could start a 401k for your company and it's virtually free for about five years or so. So there's a lot of tax credits [00:07:00] and incentives and for the really small businesses that are opening up SEPs and Simples and Solo Ks.

Very, very cost efficient. Um, so don't think that you're gonna be paying out the wazoo to have these plans in place. They're, they're, they're extremely beneficial and, and very, very [00:07:15] low cost. And a lot of times the, the costs that are associated with 'em are tax deductible to the business. Um, so if you're doing it the correct way, you can, um, kind of, you know, use that to your advantage when you're setting these plans up.

Um, the next one that we'll talk about is a Sep IRA. Um, this [00:07:30] one's a, a classic for just self-employed folks and small business owners who, who want to keep things very straightforward. Um, the contribution limits for a sep IRA for 2025, you can contribute up to 25% of your compensation with a maximum limit of about [00:07:45] $70,000 per year.

These are employer only contributions, so if you know I'm an employee at a business, I can't make contributions to that. My boss or the business owner has to contribute on my behalf to the plan. [00:08:00] Um, very, very low cost. Super simple. Um, there, there's really not a lot of lot to these and, and actually recently, um, given all the new legislation that's come out, um, and I haven't seen one of these yet, but you can do a CEP Roth IRA as [00:08:15] well.

Um, so that, that's unique. Um, and again, it's, it's a great way to get to get Roth dollars in there.

Jeb Graham: And that, that's new, just 2025. The SEP Roth is new in 2025, right? Yeah. So very, very, I haven't seen one yet either, so, but that I haven't seen 'em, that's a big benefit for someone that's doing a SEP for sure.

Yeah,

Ethan Hutcheson: [00:08:30] and Casey mentioned that in our podcast. It's, it's, you know, the secure 2.0 act, there's 95 provisions in there that, that really affect, uh, employer sponsored plans. And there's really only six to seven that are enacted. So there's a lot of stuff that's in there [00:08:45] that we might see in the next couple years or so.

But, um, you know, nothing, nothing right away. And Ro Roth step IRAs are, are, are one of those, um, again, very low cost, very straightforward, uh, and, and, and, and super easy to set up. And the, the last one we'll talk about, and we do [00:09:00] see these fairly often because they are typically for, for teams or businesses that have more than two employees.

Um, the simple IRA. Um, contribution limits for a simple IRA in 2025 are [00:09:15] $16,500. So more than an IRA, less than a 401k. So think about this as kind of right in the middle of the road. Um, reporting on these is super easy and straightforward. Um, the, the, the legislature and the, the legal and the actuaries, there's not much that [00:09:30] comes along with these plans.

It, it's kind of just like setting up an IRA for your employees and your business. Um, it's a bit scaled down than a 401k, so there's not a lot of different components that are in there, but the investment options are very fluid. You can invest in, you know, a lot of anything under [00:09:45] the sun for the most part, you can put into a simple IRA.

Um, over of age 50, you're allowed a $3,500 catch contribution. This is unique between the ages of 60 and 63, you have a $5,250 [00:10:00] ketchup contribution, bringing the total possible up to about 21,000. $750 into a simple IRA, the employer gets to pick two options when you set up a simple IRA. So there's a 2% compensation [00:10:15] automatically contributed to the simple IRA and the business owner can, can elect for a, a non-elective, uh, deferral in of 2% into the simple.

And the other option is a, um, a 3% match to whatever the employee [00:10:30] contributes to those plans. Um, very, very low cost. Super straightforward. No, IRS filings like the 401k. Um, the, the big downside with simples is the contribution limits. Um, as I mentioned earlier with, with SEPs and solo Ks, [00:10:45] if you structure 'em correctly, you can put about $70,000 away into these things.

Um, the simple IRAs, they have a very relatively low cap of about 16 five from the employee perspective, and then the match on top of that. So all things considered the simple is the lowest contribution [00:11:00] limits. Of these, um, and the, so k and and set being on the higher end of those.

Jeb Graham: The great thing about the simple though is I feel like really the place there is for a business owner that's not as worried about stocking an a bunch of money of their own away, but is really wanting to provide a benefit [00:11:15] to their employees and maybe their employees aren't at an income level where they're gonna ever probably exceed those, those contribution limits anyway, that makes their life a lot simpler.

Well, the, the hence a simple IRA, right? It just makes their life a lot simpler. Yeah. Uh, then having to [00:11:30] go through the, the 5,500 filing and making sure that you're, you're, uh, in compliance with the IRS every year and whatnot. So

Ethan Hutcheson: definitely,

Jeb Graham: so I think that those, but those are all awesome options, you know, for business owners and I think there, there's, there's a lot of [00:11:45] diversity to those and I think each business has, has the thing that fits them the most, uh, for sure.

And that's something that we can help walk a business owner through as they're, and that's a big part of what we're doing with business owners is trying to help them figure out which one of those plans. Makes the most sense. And I [00:12:00] know Eric, we were talking, uh, yesterday and we kind of went through some different insurances and and stuff like that.

So let's talk about that key man, all that, all that stuff that's so important for business owners, uh, that a lot of times they don't think about until Absolutely. It's too late [00:12:15] sometimes, right? Yeah, yeah,

Eric Wymore: yeah. You take 'em sort of, you know, kind of the second step. And you know, during this process and you're looking at some kind of a risk management or executive compensation that's kind of go hand in hand and.

Yeah, and usually the first thing that comes to mind is a key [00:12:30] man or key person, uh, type of insurance policy. And, and if you think about what is a key person, well, that might be, you know, an individual that is integral to your, to, to your business. You know, that might be the C-suite. That might be the [00:12:45] CFO or COO or, or that top sales person.

Or maybe you're, have someone that's, you know, an intellectual property and, and this is the person that if. Something happened to them, it would take some time to re to [00:13:00] replace them. And so oftentimes a business will put in what's called a key person or a key man insurance plan where they actually purchase an insurance, a life insurance policy.

Oftentimes it might be a term insurance policy or it could [00:13:15] even be a, uh, a permanent policy, uh, on that individual that in case they. Pass away unexpectedly. Now the business will have some funds to go, you know, to, to utilize, to maybe pay off, um, a [00:13:30] beneficiary or buy them out or so on of the business or to have an extensive executive search, uh, to find their replacement.

Uh, so it's a great way for business to utilize a small dollar [00:13:45] amount and an insurance policy to ensure that if something happens to that key person that. They can take the time and won't have a, you know, a large revenue loss. Uh, to find that person. Um, typically [00:14:00] goes hand in hand is when you have that key person you want to keep 'em.

And by doing that, as oftentimes you'll have some kind of a larger or a, an executive, uh, compensation plan. And, and that's usually some kind of a, of an, uh, [00:14:15] it's called a executive deferred comp plan. So typically this is an individual that will make a little bit more money on a regular basis than, than the, uh, the average employee.

And they may already be maxed out on all their 4 0 1 Ks [00:14:30] and their off 4 0 1 Ks and so on, and here's another way for them to defer their compensation. For future payments, right? So you're gonna take a little bit less income this year and you're going to [00:14:45] defer it for a future payment out in the fu in the future.

Um, a lot of corporations have this where, you know, an employee will, will, will designate how much they wanna save at the end of the year for the next year, and then each one of those [00:15:00] deferred compensation plans will pay out, say five years after they separate from service. So it's a great retirement to kind of bridge that gap.

A retirement plan to bridge that gap between when you're done working, [00:15:15] maybe take a little bit of time off before you wanna start drawing down on your retirement accounts and so on. Um, plus there's, there's a couple of different things that are involved in there. Um, there's other supplemental, it's called a crc, and we won't go into great detail, but just kind of get that [00:15:30] general idea.

If you're a highly compensated executive and you've already maxed out on your 4 0 1 Ks and your other retirement plans. And you want to defer some of your comp to lower your current income tax bracket. There are ways to do that. Mm-hmm. Um,

Jeb Graham: [00:15:45] now I, I'll tell you too, like from, from my, uh, perspective, like when you look at that, you're kind of killing like multiple birds with one stone right there, right?

Like if you're a business owner, number one is like an example that I would think about would be like someone that's a, a [00:16:00] sales person that is generating millions of dollars of revenue for your company, right? And if that person dies, that's millions of dollars of revenue that you're missing out on. So that's a big time insurable interest right there, right?

So now you're buying a life insurance policy that's gonna help you as a [00:16:15] business owner if something happens to them. But then you're also using that policy as a way for them to be, you know, having a big bucket of money for saving for themselves in retirement. And so, in essence, uh, you're protecting [00:16:30] yourself.

And then by the way, when they retire, they can keep that life insurance policy. To basically, um, you know, change the beneficiary to a family member. So, so there's just a lot of diversi diversity there and I feel like it's, it's an un personally, I feel like that's an underutilized tool [00:16:45] for business owners, in my opinion.

Eric Wymore: Yeah, I would agree. I would absolutely agree. And I, and uh, um, and, and kind of the, the third and final topic that we will like in this, this, that we'll talk with, uh, business owners on [00:17:00] and, and this kind of a risk management executive compensation is. Usually they, there's some kind of a buy sell agreement.

So imagine if you have several different owners in a business. I think the, the fear is that, you know, one of them passes away and then [00:17:15] all of a sudden you become in business with their, their significant other or their children. And you know what a buy sell agreement does is it puts in some kind of a legal binding contract that says if there's a triggering event that [00:17:30] happens.

Then here are the players that will be purchasing the business. And you know, those triggering events are often, you know, some kind of death or disability, retirement or some kind of other, you know, decision to [00:17:45] leave, leave the, uh, the organization. There is a already an agreement in place to who buys out the shares.

And there's different valuation methods that are gonna be put into that buy sell agreement. There's different ways to [00:18:00] fund it. Oftentimes in the beginning stages, it's funded with a life insurance policy. You know, what a cheap way, if you've got a, you know, a business that's worth a million dollars and there's two owners, you know, rather than [00:18:15] having each of them have a half a million dollars sitting aside to to buy out the other member, you can easily buy a.

You know, a inexpensive term life insurance policy for a half a million dollars on each one of their lives. The business owns [00:18:30] the policy. When something happens to the owner, they'll receive the funds, they can buy out the share. So you're, you're, you retain the ownership of the business and you're not having to worry about, again, going into business with, with the beneficiaries or the [00:18:45] spouse.

Uh, but again, those are, those are conversations and, and, and, you know, that provide that. Continuity in the business, you know, if something were happen, there's plenty of risks out there. Um, you know, there. And, and this is just one [00:19:00] way, or these are three elements that we use a lot of times to help kind of mitigate those risks as we, as we sit down with, you know, business owners in our, in our practice.

Jeb Graham: Yep. And I know, uh, to your point, like obviously buy, sell agreement. [00:19:15] That's not something that we do here, right? We don't write up the agreement, but we have attorneys that we work with. So when we get a business owner, we're gonna go to an attorney, and where we're gonna come in is we're gonna help with how we're funding that, right?

We're gonna basically help with that life insurance. And, um, but [00:19:30] again, the, it's not an uncommon story that somebody doesn't have a succession plan in place and something happens to the business owner or a key employee and, and, um, and they're kind of in a pickle. And so I think helping the business owners prevent that.

Is a, [00:19:45] is a big, is at least starting the conversation of a buy-sell agreement and how it's gonna be funded and all that is a big piece of, of where we're working with, with business owners. And, uh, so, so moving into our, to kind of the last thing that we can all talk about is, [00:20:00] is exit planning. And that's, that's something that, uh, is exciting, right?

And I would say that every business owner, their dream is, is kind of that final exit someday. And, uh, you know, and maybe not every business owner, but I think that's. Pretty [00:20:15] prevalent is people kind of have this idea that they're gonna work, they're gonna build up this business, and then they're gonna have this kind of glorious exit.

And we've seen a few of those glorious exits over the last few years and what we've learned is they are glorious. It's, it's great and it's a glorious exit, but there's a lot to think about in a business sale. [00:20:30] And it's not as easy as, I worked for 20 years, I sell my business, I get a big chunk of cash and I move on.

There's a little bit more to it than that. And um, and I think a few of the things that we can talk about is, is kind of what type of. How people are selling businesses and what type of [00:20:45] business transactions that we're seeing. And I'd say that most of them fall into one of three categories. Uh, one of those categories would be internal succession.

Okay? So if you've got, um, basically the business owner and you've got a couple of other key employees, a lot of [00:21:00] times they're just over time going to shift the ownership from themselves to other key employees inside of the organization. Uh, that all is great for continuity, right? Because. The people have been in the business for a long time.

They understand the business and, and they're the mo probably the, [00:21:15] the most prepared to be able to move it on. Uh, after, after the initial business owner is gone. And then we're also seeing people, maybe they don't have that internal succession plan, so they're going through business brokers, right? So you might, there's a lot of business brokers out there.

[00:21:30] You might list it with a business broker. They're gonna try to help you find a buyer. They're trying to match buyers and sellers. Uh, and they do take a commission typically. Uh, when they do that. But that's, uh, one area we're seeing. And the third one, and we're seeing this in many, many industries, and we've been through several of 'em in the [00:21:45] last few years, where we have clients that are bought out by a large private equity organization and private equity, uh, if you don't know what that is, it's basically just an organization that's not publicly traded, that's, that's buying up smaller, non-publicly traded [00:22:00] organizations and kind of wrapping them up and aggregating them up into one larger entity.

And oddly enough, the, the. Environment has been very, very favorable for those organizations. For a number of years, we've had very low interest rates. [00:22:15] Uh, we've, people have had a lot of cash on hand. Uh, so it's, it's basically been, uh, kind of a, a heyday for some of these private equity organizations. And so, so that's what we're seeing.

And, um, we also see kind of two different types of [00:22:30] sales. Uh, one of which could be the, the two main ways that company seller are. One is, is a. Multiple of gross revenue. You know, so I would say in our business, smaller organizations sell at, at a multiple of gross revenue. Okay? So if you're doing $2 million in [00:22:45] revenue and you're at a, and in your industry, they're selling at two and a half times revenue, well, that's a $5 million transactions.

Pretty easy to calculate. But then there's the, the more complex ones, which would be, uh, as, as a multiple of ebitda, uh, which is [00:23:00] basically the profitability of the organization. Um. And when you're selling on the profitability of the organization, there's a little bit more involved in selling, right?

Because, uh, what you're doing is you are wanting to make your organization as profitable as possible. Meaning a lot of times they're scaling [00:23:15] down expenses and kind of cleaning out, uh, expenses in the years leading up to, to selling the organization so that they can sell on the very highest multiple of EBITDA as possible.

Um. So in the, I feel like in the private equity world, that's, that's what we're seeing [00:23:30] more of. And some of the numbers that we're seeing are pretty ridiculous, right? As far as mm-hmm. Multiples of ebitda, a lot of times it can be 10 to 15 times ebitda, depending upon the size of the business, even higher than that in, in certain circumstances as well.

But, so from the business [00:23:45] owner one, once you kind of figure out what, where, how you're selling and, and what you're gonna do, some other, uh, key considerations, uh, are, are there's, there's always tax consequences, right? As I think a lot of people. I don't realize how low typically their basis is in their business.

And that's [00:24:00] what I've run into anyway. A lot of the times these things are selling with almost no basis. So if you, if you have a five or $10 million transaction, uh, you may be on the hook for the capital gain on the entire amount of that transaction. So, so planning accordingly for that [00:24:15] is very, very important.

Okay. The other tax consideration, which I would say is where we come in as advisors, is people get this lump sum of money. They want to generate an income off of it. Well, they need. They need advisors like us to manage that money, grow the money, generate income off of the money for them over [00:24:30] time. And, uh, and making sure that you have an advisor that knows how to do that in a tax efficient way is very, very important.

Um, so, you know, there's, there's direct indexing options now there's a lot of different things that you can do, [00:24:45] uh, with as someone that has a large lump sum of money and, and tax harvesting just to make sure that, that you're tax efficient with how your dollars are invested. Um. And then, yeah, so the tax efficient reinvestment and, [00:25:00] and just knowing your basis, I think calculating and knowing your basis.

And then lastly, I guess the thing that I would talk about is just structures of deals that we're seeing. And back to kind of what I was saying in the beginning where I think a lot of people have the perception that you grow the business, you sell, you get a lump of cash and [00:25:15] you walk away. And typically, specifically in the private equity world, and I would even say in the internal succession world.

And, and maybe not quite as much as in the business broker world, but, but many times, uh, you're getting, you know, if you do a $10 million transaction, [00:25:30] a lot of times you may get 5 million or $7 million up front. And then a lot of that other payment is deferred based on, on the income of the organization, uh, staying where it is or growing.

And sometimes there's even additional monies for, for growth in that first few [00:25:45] years. But a lot of times they're wanting to retain that business owner. For three to five years. So if you sell your business, you might be working for three to five years for that organization, or maybe even indefinitely. Um, and they want that because that's what really creates that [00:26:00] continuity, you know, for the next owner of the business, is that it's not just a, Hey, I own it one day and somebody else owns it the next day.

See you later. That's a, that's a tough way to sell a business because I think there's a lot of risks with that because you can end up, uh, you know, losing [00:26:15] clientele because maybe they're. They have a great relationship with the business owner and so on and so forth. But I think, like when you think of all these things, the, the key is if you, if you think about wanting to sell your business and you're going down that road, the time to think [00:26:30] about that is, is now, right?

Even if that's 10 years from now or 15 years from now, but, but start thinking about either your internal succession plan, you know, if you think you want, you're gonna go through the business broker, do do a private equity transaction. Do your research [00:26:45] and, and we can certainly help you with that on how those transactions happen, what needs to happen now to kind of set yourself up to be in the best possible position to have that successful exit and transition.

So

Eric Wymore: absolutely. You did, you took multiple years to grow your [00:27:00] business. It's gonna take a few years to unwin it or mm-hmm. To, to exit. Exactly. That's for sure.

Ethan Hutcheson: Exactly. Don't call us in July and wanna sell in August to be, yeah. It's tough. And I think that's kind

Jeb Graham: of natural. I think some people just do that.

It's like they work and they work and they work and they get to this point where they're like, well, I'm done. [00:27:15] I'm ready to move on. And the reality is they, it takes a little bit more planning than that for that exit to make sure that it's successful. So.

Eric Wymore: Well, and we, and you, I mean, I'm gonna touch on that private equity deal a little bit.

I mean, we've been pretty surprised [00:27:30] recently at how large some of those numbers are. And you start breaking it down with some clients and you're like, well, okay, I kind of want to be outta my business in five years. Well, you start looking at some of the private equity deals, and, and it's about the same, you know, if [00:27:45] you were to say, Hey, maybe now's the time that I, if I were to go out sooner than that, I'm still gonna get compensated, you know, for that, for that amount or for that time.

And, and so it's, uh, the, the sooner, the better if to start engaging or having [00:28:00] some of these discussions and, and building up. Building up like, you know, strategies and, and mm-hmm. Ways to, ways to implement them for sure. Is really important. Yeah, absolutely.

Ethan Hutcheson: Understanding the options. I mean, at the end of the day, it's your business, [00:28:15] so if you don't wanna sell it to this person or this entity, 'cause you don't like those terms and you don't have to engage and move further, so.

Ironing, ironing that out and figuring out what's best for you and your family well in advance so that you can go to the table with, Hey, here's what I want and here's kind of [00:28:30] how we wanna structure this. And just having all that stuff well in advance just makes the process so much easier for everybody involved.

I agree.

Jeb Graham: I agree. Well, I think this is a productive day or Oh, lot of good con conversation and hopefully there's a few [00:28:45] business owners, uh, that can take some of this stuff and implement. You know, something into the business that maybe they, they haven't done yet, and we would certainly welcome the opportunity to talk to anybody.

Uh, that's thinking about any of these things, uh, about that, that subject matter. So thank you for joining and, uh, [00:29:00] this is Metcalf Money Moment, the podcast, and we're signing off.

Voiceover: Thanks for tuning in to Metcalf Money Moment, the podcast. We hope today's episode provided valuable insights [00:29:15] to help you unlock financial clarity, confidence, and peace of mind. For more expert advice and resources, visit medcalf partners.com. Until next time, make every money moment count.[00:29:30]

Disclaimer: Jeb Graham, Ethan Hutchson and Eric Wymore are registered representatives with and securities offered through LPL Financial Member FINRA SI PC Investment advice offered through W CG Wealth Advisors, a registered investment advisor, W CG Wealth Advisors and Metcalf Partners Wealth Management is AR separate [00:29:45] entity entities from LPL Financial.

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