As an entrepreneur, you are also a private individual. It is therefore important that you coordinate your business and private financial concerns and risks as closely as possible. Learn how to prepare for the unexpected and how to cushion financial difficulties.
Key questions for entrepreneurs
During the term of the bridging loan, no dividend payments or repayments of loans on the liabilities side are permitted. In order to be able to maintain your current standard of living, it is important to know how much liquidity you and your family require as an emergency reserve, and whether your company may need to take up private loans. It’s best to look into different scenarios.
Have you ever thought about an advance care directive? This authorizes a natural or legal person to represent you in certain areas if you lose your power of judgment. In any case it is worthwhile having comprehensive legal protection (inheritance contract, marriage contract, power of attorney, etc.), and documenting it accordingly. This ensures that the legal capacities within the company and the family are clearly defined.
Private asset accumulation and retirement provision often depend heavily on income from the company. If both are insufficient, this will tear holes in your private assets. In addition to the state and occupational pension schemes, it is necessary to build up private assets at an early stage. This ensures that you will be able to maintain the desired standard of living in old age.
By transferring money to your private assets during successful periods, for example. Early collection of profit carryforwards not required for operational purposes can create an additional cushion for unforeseen events. This makes you less dependent on future sales revenue from your company.
Individual investment concept
What is your goal in life? Together we will find out what is important to you and focus on three key strategies: Liquidity. Longevity. Legacy.
Customized pension solutions
Financing growth, planning succession or making provision for the future: it’s always worth coordinating private and business matters early on. We’ll help you.