Page 43 - midJersey Business - July/August 2015

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WHEN DO YOU WANT TO RETIRE?
WHICH FINANCIAL PROFESSIONAL
“windfall” last throughout your retire-

Do you want to retire in ive or 15 IS YOUR BEST ALLY FOR RETIREMENT ment so you do not outlive your money?
years? Some small-business owners PLANNING?
People are living longer healthier lives

have spouses who are already retired and The right inancial professional can pro- and retirement can be as long as 20-30
therefore the need for a solid exit plan is vide expert insight to help you develop a years. During retirement you’ll need an

even greater.
comprehensive plan that addresses your income plan that can last for an unknown
needs and goals, particularly to help you time period.
3
WHAT WILL BECOME OF
build a retirement income strategy.
“Small-business owners are risk-toler-
YOUR BUSINESS?
Make sure this individual creates clear ant and feel that having their own business
Do you eventually plan to sell the steps for how each goal can be achieved. is the best way to create the wealth they

business or transition ownership to a Ultimately, think about what sources of want,” Dubitsky says.
family member? If you are a co-owner
guaranteed income are set up to cover “However, it is paramount that these in-

of the business, will you sell your share your core expenses in retirement (such as dividuals build an exit/retirement strategy
of the company to the other owner? Do health insurance, living expenses, etc.).
to meet their needs during a 20-plus-year

you want to stay involved in any capacity 5
retirement while ensuring their desires for
afterward? Who will help to ensure a the future of their business are fulilled.”
DO YOU KNOW HOW LONG YOUR

seamless transition? Create a business Preparing for your retirement, years be- RETIREMENT WILL LAST?
succession plan and modify it as neces- forehand, is the foundation to a worry-free If you are successful in selling your

sary as time passes.
business, then how do you make that
retirement.

FULTON BANK OF NEW JERSEY DOES SO MUCH
MORE THAN YOU THINK

AGRICULTURAL BANKING For Your
BUSINESS CHECKING Commercial Business
BUSINESS CREDIT CARDS*
CASH MANAGEMENT You can count on your local relationship
BUSINESS LENDING manager to be your advocate.
CASH RESERVE INVESTMENT MANAGEMENT**
MERCHANT CARD SERVICES Sophisticated solutions. Community
COMMERCIAL REAL ESTATE FINANCING bank service. That’s what you can
INTERNATIONAL BANKING expect from your commercial banking specialist at Fulton Bank of New Jersey
- providing local support with local
LEASING decisions to help you do more to make
RETIREMENT PLANS** your business goals happen.
WHOLESALE FLOOR PLAN FINANCING

Come in to meet your local Relationship Manager today.

solutions.fultonbanknj.com/commercial

Member FDIC. Member of Fulton Financial Family. Loans and credit cards are subject to credit approval. Deposit and credit products are offered by Fulton Bank of New Jersey. *The creditor and
issuer of these cards is Elan Financial Services, pursuant to a license from Visa U.S.A. Inc. Fulton Bank of New Jersey is not afiliated with Visa. **Cash Reserve Investment Management and Retire- ment Plans offered through Fulton Financial Advisors which operates through Fulton Bank, N.A. and other subsidiaries of Fulton Financial Corporation.

**Securities and Insurance Products:
Not FDIC-Insured • Not Insured by any Federal Government Agency
No Financial Institution Guarantee • May lose value • Not a deposit • Subject to risk
EQUAL HOUSING LENDER

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