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Small Business Owners Building Wealth

by on April 7, 2017

We have all heard the typical strategies to building wealth… IRA accounts, investing in mutual funds, stocks and bonds, 401(k) plans, paying down debt, etc.  These are all good strategies.  However, another excellent strategy for many business owners is through the use of real estate.  For this strategy, the business owner needs to own the real estate they use to “house” the business.  Depending on the nature of the business it could be an office, multi-tenant building, warehouse or storage facility, shop, etc.  The benefits can be numerous from enhancing business/employee productivity, to numerous tax benefits and incentives (depreciation, tax write-offs, etc.).  The owner can also possibly experience an increasing real estate value over time to help build wealth for later use in retirement.  As far as the monetary benefits, we have seen some business owners (over the years) add a considerable amount to their personal net worth (in addition to their other assets and retirement plans) by the time they retire.  This strategy may seem huge and overwhelming, but with some good planning and timely advice upfront this dream may become a reality.

 

From → 2017

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