Let’s Talk About Financial Planning for Law Firm Owners
Helping people map out their financial future is my passion. Helping lawyers with this is my superpower. The financial industry can be a tricky web, especially for law firm owners, which is why I brought in my friend Hannah to talk about investments, taxes and the power of planning.
Hannah Chapman is the founder of X² Wealth Planning. As an independent wealth advisor, Hannah loves working with female attorneys who are, or who desire to be, independent too.
Law firm owners, and business owners in general, have a plethora of things to worry about outside of actually doing the job their business was created for. Paying bills and employees tend to overshadow important tasks such as tax planning, retirement contributions and insurance options.
Hannah’s journey started as a personal one. As a young girl she watched her parents run their business successfully but never getting the right guidance they needed to take the extra steps to secure their futures. Her first-hand experiences allowed her to excel in her field and open her own firm. Here are a few of the topics she elaborated on with me:
Wealth planning for executives vs business owners
Why the bigger wealth planning firms may not be for you
The size and income of your firm can help guide you to the right retirement account
The natural trajectory of retirement accounts as your firm grows
What to watch out for when you want to switch from one IRA account to another
Basic matching rules for your employees’ 401k
How to put more in your retirement account without changing taxes
The real effects of pre-planning
If you want to read more about Hannah and see if you are a good fit check her out with the links below.
LinkedIn: https://www.linkedin.com/in/hannahrchapman/
Website https://x2wealthplanning.com/
If you’re looking for a financial professional to help you think through your personal situation you can always reach out to me. Schedule a free initial consultation (this is over the phone, no Zoom shirt required!).
