The Road to Retirement Is Long. Here’s the Map for Success.
Where are we going? When will we be there? And, are you sure this is the right way?
My children ask these questions often when we are on vacation. They are important questions, especially if it’s time for a pit stop or to know just how many movies are left to watch before we reach our destination. I find in the moments when I’m not sure about the destination or the time it will take to get there, having my GPS as a guide is the best way to answer these questions.
These questions are common in the business world, especially for entrepreneurs, business owners, or senior executives who are thinking about retirement. These leaders are experts in business, but even the best business leader can find charting a course toward what comes next daunting.
A lot is at stake. And a lot must be considered-such as equity review analyses and updated regulatory environments, which can be time-consuming to understand and navigate but must be considered before final decisions are made. For those whose personal wealth is tied to a business or if a company’s performance has implications for executive compensation, the path forward can leave many asking, “how do I get to where I want to go?”
In life and in business, you tend to get the right answers by asking the right questions. If you’ve created a successful business and want to position yourself for a successful retirement, figuring out what questions to start with can be a challenge all its own.
There are always more immediate tasks needing your attention: acquiring customers and hitting sales goals, maintaining market share and staying ahead of the competition, meeting payroll and planning for future succession. That’s where a team like mine in Regions’ Private Wealth Management can help.
As part of Regions’ Private Wealth Management team, I help people navigate where they want to go – a sort of financial GPS that helps clients get their bearings, make a financial plan and point them in the right direction. After more than 15 years in this line of work, that’s still the best way to describe my job.
Just as a GPS system works by bouncing your location off a series of satellites to figure out where you are and where you need to go, a Regions banking team is there to evaluate your position through several points of view.
You may need access to commercial banking services, asset managers, trust advisors, or other highly specialized services. All of these considerations take time, but time is often in short supply.
In life and in business, you tend to get the right answers by asking the right questions.
The customized team approach we offer at Regions will give you many points of view through one point of contact. You’ll not only know where you’re headed, you’ll know how long it will take to get there and how to adjust along the way. And, you’ll have a team who knows the right questions to answer to keep you on track.
I love hearing founders and business owners tell me about how they built their companies. I’m amazed by the creativity, resourcefulness and sheer guts. When they tell me about how they grew their business, they also end up telling me about why they grew their business. They saw an opportunity in the market when no one else did. They had a unique skill that could be put to use. They wanted to build security for their families. They wanted to give back to their communities.
These are things that really matter to our clients. When we understand what they’re really working for, we can craft a customized plan to keep their priorities in focus.
I’m not looking to retire just yet – far from it, but as part of a team of wealth management professionals, I’m focused on helping our clients achieve their financial goals so they can make the most of their retirement. Our team at Regions has served clients in Memphis for many years, and we are proud to be part of this area’s strong legacy of service.
If you are on a path to retirement, have questions about business succession or more, our team at Regions would be honored to help you navigate the road ahead.