CINCINNATI, Sept. 16, 2020 /PRNewswire/ -- Building a successful, closely held business is one thing. Successfully preserving, protecting and passing on that wealth is another, according to Ken Byers, ChFC®, AEP®, CLU®, Co-Author of the book, "Retire Abundantly."
Business owners will gain wisdom, principles and practical advice on how to enjoy a great retirement and leave a lasting legacy.
Byers shares, "Only three percent of all Americans have been able to accumulate one million dollars or more, which makes that group extraordinary, and many of those are closely-held business owners. Most don't understand that building a successful business is not the same as getting the money out of the business. We are on a mission to show first generation closely-held business owners how to move money out of their business on a tax preferred basis."
Successful business owners with accumulated wealth face little-known mistakes and missteps that can prove very costly. Lack of understanding can derail the retirement lifestyle that many have come to expect, as well as spoil their best-laid plans for a legacy.
"Closely-held business owners face very different tax, wealth and retirement obstacles than the average population. As a result of popular myths about money and wealth, many are unaware of very expensive mistakes they are making today, even those with a team of well-meaning advisors," continues Byers.
For example, Byers says, running afoul of IRS retirement account rules can cost a bundle and many are unaware of the impact. The IRS levied over half a billion dollars in fines in just a two-year period for missed retirement plan withdrawals and contributions that break their rules.
The easy-to-read book is not laden with theory or jargon. Rather it is filled with practical principles and actual examples. It begins by exposing how and why the financial planning industry, and many financial advisors, have left many people confused. It goes on to expose common misconceptions that popular financial media, TV shows and internet sites have led most people to believe.
Another interesting and informative feature of the book is its collection of real-life stories of failure and success sprinkled throughout. The book ends by showing readers how to take the next step for making informed decisions about retirement planning and legacy goals.
Ken Byers continues, "We are on a mission to help first generation business owners how to preserve, protect, and pass on their hard earned business wealth, while enjoying more freedom. That's why I want people to read this book."
About KEN BYERS:
Ken Byers, ChFC®, AEP®, CLU® is a nationally recognized Financial Educator, Author, Speaker, and Business Tax Reduction Consultant, whom you may have seen in NBC, ABC, CBS, and FOX network affiliates and "Wall Street Journal's Wall Street Select", "Yahoo Finance", "Market Watch", and a Featured Guest on WLW and WKRC.
As the Creator of The Closely Held Business Playbook and Co-Author of "Retire Abundantly", Ken has been interviewed on "Business Icons" by Keven Harrington, Original Shark on ABC TV's multi-Emmy award winning business series, Shark Tank.
Ken is the Founder and CEO of Ken Byers and Associates, where he and his team have been showing successful closely-held first generation business owners how to get money out of their company on a tax preferred basis, so that they can live a freedom lifestyle and preserve, protect and pass on their hard-earned business and personal wealth for over forty years.
Ken's work ethic, dedication to excellence and determination were forged as a former professional NFL football player who played offensive lineman for five seasons for the New York Giants and Minnesota Vikings after graduating from the University of Cincinnati.
Ken shares his leadership skills with multiple organizations, including Board Member of the Ohio River Valley Chapter of the Arthritis Foundation and the University of Cincinnati Foundation and Past President of The Society of Financial Services Professionals, Cincinnati Chapter.
Ken's professional associations also include the Cincinnati Estate Planning Council, Greater Cincinnati Planned Giving Council, NFL Alumni and The International Forum.
Ken Byers is a warm communicator with a passion for showing successful closely-held business owners how to live a freedom lifestyle and preserve, protect and pass on their hard-earned wealth.
SOURCE Ken Byers