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Advance Your Wealth - How an ESOP Can Benefit Your Business, Your Employees and Your Net Worth
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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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