Advance Your Wealth - How an ESOP Can Benefit Your Business, Your Employees and Your Net Worth
Many business owners are always looking to motivate their employees, generate better results and save themselves some money in taxes.
On the latest installment of Advance Your Wealth, we're examining a tool that can potentially do that and more for your business. It's a retirement plan and succession tool called an Employee Stock Option Plan, or ESOP.
Sit back, relax, and enjoy another enlightening conversation surrounding a strategy that is bound to leave you with some considerations for your own business.
Timecodes:
0:06 - Introduction and overview on the topic of the day
2:00 - Why this type of retirement plan is one that business owners should be considering
3:42 - How an ESOP functions for a business and its employees
5:12 - The key differentiating factors within ESOPs
6:40 - The advantages business owners see when using ESOPs
8:55 - How an ESOP can benefit a business as an entity
10:38 - How an ESOP can assist within the succession planning efforts for business owners
12:36 - Questions that business owners should be asking themselves
14:35 - The first step you should be taking if you're interested in implementing an ESOP
16:33 - How you can get in touch with Homer and his team
17:30 - Closing remarks
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