Avoiding Retirement Plan Mistakes in Business Exit Planning

Lessons by the Lake: The Oswego Private Wealth Show

When the time comes to exit your business and look forward to retirement, there are some vital concerns you should be considering!

On the latest installment of Lessons by the Lake, we're pleased to welcome Bonnie Treichel, Founder of Endeavor Retirement, for a great conversation surrounding the retirement planning mistakes you should be avoiding when exiting your business.

Bonnie's unique experience as an ERISA attorney and ad advisor helps her bring governance solutions for the day-to-day issues that are an inevitable part of running a successful retirement plan.

We're so excited to be joined by her on this episode, which is bound to leave you with some key takeaways for your own business exit strategy!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:25 - What Oswego Private Wealth is all about and how Bonnie aligns with us

3:15 - Retirement planning isn't typically at the forefront of concern when selling a business

5:46 - What due diligence looks like during the sale of a business

8:41 - How many professionals a business owner should have working on their plan?

11:39 - The "set it and forget it" attitude towards a business owner's retirement plan

16:28 - The fiduciary responsibility and how it appears within a benchmarking study

19:36 - Tips for business owners to ensure their employees are on the right track for retirement

21:20 - Secure 2.0 and its impact on retirement plans at large

24:11 - What does it cost to have a retirement plan for a business owner

26:52 - Start your planning with the end in mind

28:33 - How Bonnie has helped business owner clients succeed in their retirement planning

30:28 - How you can get in touch with Bob and Bonnie

30:50 - Closing remarks

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