The Benefits Of Working With A Financial Advisor

May 14, 2023

No matter who you selected on a federal election ballot this month, Atlanta entrepreneurs have an equally important choice to make closer to home: Who are you going to partner with for your wealth management?

While I admit a slight bias, I believe there’s a clear choice for helping you owe the least in taxes, invest wisely, and grow your savings.

This article discusses these topics:

  • Why you need a financial advisor
  • What wealth management can do for you
  • Your advantage is Ironclad Wealth Management
  • The Sum Total

Why You Need a Financial Advisor

Civic responsibility is as important—and potentially as advantageous—as fiscal responsibility. However, your financial decisions can have a much greater impact on your business and personal life day by day.

For example, did you know that having enough money to live comfortably now doesn’t guarantee a nice, cushy retirement? It’s true: The inflation we’re seeing today means that $50 tomorrow may not buy half of what it does currently. This is because it is losing its purchasing power.

So, having a million dollars in the bank in the future could eventually mean that you only have, let’s say, $750,000 (or less) in terms of what you can buy with it. Even if interest rates stay high, you could be earning more on your money—but it may continue to lose its value. This can make retiring in style challenging, to say the least.

Notice that I said “challenging;” but not “impossible:” With the right long-term comprehensive financial planning, a retirement worth looking forward to is still doable. It just won’t happen by itself. If you want the money you work so hard to earn to support you generously when you leave the workforce, you have to get proactive (now).

What Wealth Management Can Do For You

Working with a financial advisor can be a game-changer for both your business and personal finances. Through guidance and support, you can potentially improve your investing, streamline your savings, reduce your tax liability, and more. At Ironclad Wealth Management, we specialize in working with small businesses and entrepreneurs.

Because we started out as a small business, we know the unique challenges and opportunities you face when it comes to managing your finances firsthand. In fact, we are intimately familiar with the way in which professional success can sometimes reward you with less and less time to do everything you need to.

One of the simplest keys to keeping a winning streak going is delegation. So, handing your tax planning, saving, and asset management over to a professional may help you continue to grow. It can also save some of the wear and tear on you—because managing your money, on top of everything involved in running a company, can wear anybody out.

If you hand your financial tasks off to us, you can focus on what you do best (because optimized wealth management is what we do best). Taking a comprehensive approach to your investments, strategizing your taxes, planning your retirement, and more means the maximum possible benefit to you, as well.

For example, let’s say you set your W-2 artificially low to help save on taxes. Because of that one action, there are several knock-on effects - from reduced social security to reduced retirement plan deductions, and finally, there are even some risks from the IRS for doing that. One small action can have ripple effects across your entire financial life.

Approaching wealth management from multiple angles, from both your business and personal financial life, means that we are often able to do more for your benefit. In other words, this affords us ways to benefit you that wouldn’t be accessible from just one side or another alone.

Could Your Small Business Become a Large Business Later, Through Professional Financial Planning?

Your Advantage is Ironclad Wealth Management

The U.S. federal income tax code can be maze-like if you aren’t familiar with it. In fact, the IRS audits small business owners every year who tried a D-I-Y approach to their taxes… only to realize that it’s much more complex than they anticipated. The IRS makes no secret of singling out the affluent, in particular, for audits, either.

Meanwhile, you might say that our work for clients means that we live here; the code-maze is our home every business day. So, partnering with us means working with locals who know all the twists and turns well enough to easily guide you through them. We have the experience not just to keep you IRS-rules-compliant but to keep you from paying a penny more than you legally have to.

The biggest secret to it is getting proactive and keeping a long-term perspective: The IRS generally cares more about the certainty of getting their cut than whether you use option A or option B to pay them.

This means, for instance, that by opting to pay some of your taxes in advance (for a Roth IRA conversion), you might enjoy avoiding a possible larger tax bill down the road. Especially if you are likely to be in a higher tax bracket, this could save you thousands of dollars (or more).

Everyone’s financial goals are unique, so that’s only an example. Nevertheless, you get the idea. We work entirely within IRS guidelines to minimize your tax liability (meaning how much you owe) and the longer the span of years that we strategize your taxes over, the greater your potential savings can be.

The Sum Total

If you're a small business owner, Ironclad Wealth Management can provide the advice and guidance you need to grow your nest egg and make the most of your money along the way. We have a wide range of services that cater to every stage of your business's development, from tax strategies for high-income earners and investment insights to streamlining your company’s expenses, scaling, and more.

We also offer estate planning and retirement planning that Atlanta, GA, residents can feel confident about. Contact us today to learn more about how we can help you take control of your financial future.

If Patrick Can't Save Your Business $5,000 in Taxes, You Get Your Money Back

MGO One Seven LLC ("MGO One Seven") is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training. All titles listed for individuals associated with Ironclad Wealth Management represent the individual's role with Ironclad Wealth Management, and not their role with MGO One Seven. Services are provided under the name Ironclad Wealth Management, a DBA of MGO One Seven. Investment products are not FDIC insured, offer no bank guarantee, and may lose value. Please visit our website for important disclosures.

Please note, the information provided in this presentation is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services.

Nothing provided in this presentation constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This site is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.

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