Modern Wealth Invites Business Owners to Make 2025 the Year of New Beginnings and Purpose

BLUE BELL, Pa., Dec. 30, 2024 /PRNewswire/ -- Modern Wealth, under the leadership of Founder and CEO Alan Rhode, CFP®, CPWA®, CVGA®, CEPA®, RLP®, is calling on business owners and entrepreneurs to embrace 2025 as the year to reimagine their future. With its innovative Dynamic Plan, Modern Wealth offers a comprehensive approach to help clients achieve financial clarity, unlock value, and prepare for a life of purpose beyond their businesses.

"2025 is a year to redefine what's possible," said Alan Rhode. "Whether you're growing your business, planning for an exit, or envisioning a meaningful life after business, this is the perfect moment to focus on what truly matters."

Modern Wealth's Dynamic Plan combines Business Advisory, Financial Planning/Wealth Management, and Life Planning, offering a holistic framework tailored to the unique challenges and opportunities faced by business owners. From addressing immediate financial needs to crafting a long-term vision, the plan empowers clients to act with intention and confidence.

Starting Fresh: Understanding the Power of Reflection

A key component of Modern Wealth's process is helping business owners gain clarity about their goals and priorities. To guide this reflection, Modern Wealth incorporates the profound questions developed by George Kinder, known as the father of life planning. These questions are rephrased to help business owners explore their future:

1. Imagine a Life of Financial Freedom:
   Picture a life where money is no longer a concern. You have enough to meet all your needs, now and in the future. How would you live? What would you pursue? What would you change to create a life that feels truly fulfilling?
2. Consider Life With Limited Time:
   Imagine being told you have only five to ten years left to live, though you'll remain healthy until the end. How would you spend this precious time? What priorities would come into focus? What changes would you make to live the life you truly desire?
3. Reflect on Life's Final Day:
   Now, imagine being told you have just one day left to live. What emotions arise as you reflect on your life? What dreams or aspirations would you regret not fulfilling? What do you wish you had done, experienced, or become?

"These questions help business owners take a step back and think deeply about their legacy, their passions, and their purpose," said Alan Rhode. "They provide clarity and direction for crafting a future that aligns with their values."

Key Areas of Focus for Business Owners in 2025

As business owners enter the new year, Modern Wealth provides expert guidance across several critical financial and strategic areas:

Cash Flow and Debt Management

Managing cash flow and debt is essential for both business success and personal financial security. Modern Wealth works with clients to:

• Ensure steady cash flow to support business operations and personal goals.
• Optimize debt structures to reduce interest burdens and free up capital.
• Build cash reserves to provide stability during market fluctuations or unexpected challenges.

Risk Management

Entrepreneurs face unique risks that require proactive planning. Modern Wealth implements strategies to mitigate these risks, including:

• Life insurance and disability coverage to protect family and business in case of unforeseen events.
• Buy-sell agreements to ensure seamless ownership transitions in the event of death or incapacity.
• Key person insurance to safeguard the business from losing critical leadership.

"Risk management is about preparing for the unexpected," said Alan Rhode. "We make sure our clients have a safety net so they can move forward with confidence."

Tax Optimization

Tax planning is a cornerstone of Modern Wealth's approach, helping business owners minimize liabilities and maximize wealth. Key strategies include:

• Tax Loss Harvesting: Offsetting gains by strategically realizing losses.
• Roth Conversions: Shifting funds to tax-free accounts for long-term savings.
• Deferred Sales Trusts: Reducing taxes on large capital gains from business or asset sales.
• Reinvesting business profits into tax-advantaged growth opportunities.

"Effective tax planning is about keeping more of what you've earned," said Alan Rhode. "We help clients make their money work harder for them."

Preparing for Retirement: The Next Chapter

Retirement for business owners often means more than leaving the workforce—it's about transitioning to a new phase of life with purpose and security.

Tailored Retirement Plans for Business Owners

Modern Wealth designs retirement plans that meet the unique needs of entrepreneurs, offering options such as:

• SEP IRAs for simplicity and tax efficiency.
• Solo 401(k)s for maximum contributions with self-employed flexibility.
• Defined Benefit Plans for those seeking high, guaranteed retirement income.

Investing Beyond the Business

Diversifying wealth beyond the business is critical to achieving financial independence. Modern Wealth helps clients build and manage portfolios through:

• Brokerage accounts and retirement accounts tailored to individual risk tolerance.
• Proper asset allocation to balance growth and protection.
• Tax-efficient asset location to minimize costs and maximize after-tax returns.

"Retirement is an opportunity to focus on what's next," said Alan Rhode. "We ensure business owners have the financial security to pursue their dreams without compromise."

Estate Planning: Protecting and Passing on Your Legacy

Estate planning is essential for business owners to secure their wealth and ensure it is passed on according to their wishes. Modern Wealth focuses on:

Business Succession Planning

• Preparing for seamless ownership transitions, whether to family members, employees, or third-party buyers.
• Developing leadership pipelines to ensure the business thrives after the owner's exit.

Wealth Transfer Strategies

• Establishing trusts and wills to efficiently transfer assets.
• Utilizing GRATs, family limited partnerships (FLPs), and other advanced techniques to reduce estate taxes.

Asset Protection

• Safeguarding personal and business assets from legal risks and disputes.

"Estate planning is about more than money," said Alan Rhode. "It's about preserving your legacy and ensuring your life's work continues to benefit those you care about."

Life Beyond Business: Aligning Wealth With Purpose

For business owners, leaving a business often means rediscovering what truly matters. Modern Wealth uses the insights from the "Three Questions" to help clients craft a vision for their next chapter.

Whether it's pursuing passions, traveling, supporting charities, or starting a new venture, Modern Wealth ensures clients have the resources and structure to live a life of purpose. Goals beyond the business may include:

• Planning meaningful vacations and experiences.
• Funding education for children or grandchildren.
• Supporting charitable causes through philanthropy.
• Pursuing hobbies, creative endeavors, or community engagement.

"Life after business ownership can be incredibly fulfilling," said Alan Rhode. "We help our clients align their finances with their vision for a meaningful future."

2025: A Year to Dream Big and Act With Purpose

Modern Wealth's Dynamic Plan integrates:

1. Business Advisory: Helping owners grow, optimize, and prepare their businesses for transitions.
2. Financial Planning and Wealth Management: Aligning personal and business wealth strategies to achieve financial independence.
3. Life Planning: Helping owners create meaningful futures based on their goals and values.

"This is the year to take control and pursue your dreams," said Alan Rhode. "Whether you're growing your business, creating a legacy, or crafting your next chapter, Modern Wealth is here to guide you every step of the way."

About Modern Wealth

Modern Wealth, led by Founder and CEO Alan Rhode, CFP®, CPWA®, CVGA®, CEPA®, RLP®, specializes in helping business owners and entrepreneurs integrate business value growth, wealth management, and life planning into a cohesive strategy. Modern Wealth empowers clients to maximize their business's value, protect their wealth, and create a fulfilling legacy. For more information, visit www.modernwealthllc.com.

SOURCE Modern Wealth LLC