When Can You Have Financial Freedom as a Business Owner?
April 19, 2021 
Jay Gangnes

When can you have financial freedom as a business owner? Is there ever a time you can sit back, relax, and enjoy the rewards of all of your hard work? It’s possible—it just takes thoughtful planning. Let’s talk more about that.

Retiring vs. financial freedom

We’ve heard the question thousands of times: When can I retire? To that, we ask this question in return: do you want to retire…or do you want financial freedom?

As most of our clients are business owners, “stopping work” isn’t necessarily the end goal for most of them. But they do want to be clear on when they’ll have the financial freedom to stop work if they choose to.

We don’t want you doing something you hate until you are 65 and then start enjoying life. The starting question isn’t “when can I retire?” but rather, “when can I be free of financial stress and uncertainty?”. This means you need to be clear not only what your financial situation looks like right now but what it needs to look like for you to have financial freedom.

We can crunch the numbers and structure your finances so you’re crystal clear on when you could walk away from your business…even if you choose never to stop showing up! For many business owners, simply knowing they have the option to do this gives them the peace of mind they need.

Whether you’re a business owner who is eager to hand over the reins of your business as soon as possible or you plan to work for as long as you can, what matters most is being empowered with the knowledge and information you need to make the best decisions for yourself.

(If retirement is your primary goal right now, we also want to direct you to this post next: Why You Should Avoid A Retirement Savings Plan)

Your financial freedom

Financial freedom can mean different things to everyone.

For many, it means not waking up every morning agonizing over where their next dollar will come from. For others, it could also mean having the freedom to invest in other ventures.

Of course, you need to take into account personal considerations like how much money you want to set aside for travel, hobbies, your children.

In many cases, once a business owner sees where they stand financially, they can relax and spend more time on the things they enjoy outside of work.

(For more on this subject, check out this post next: How to Use Financial Goal Setting to Fix Your Work-Life Balance)

Creating a brighter financial future

Are you excited about your financial future? Are you ready to get crystal clear about where you stand and what your options are? We should talk.

Ocean 6 offers a refreshing and innovative approach to financial planning. We know that for business owners to get clarity and confidence in their financial future, they need a holistic plan that considers all aspects of their wealth — and that’s precisely what we will give you. Ultimately, our goal is to transform Canada’s financial industry into a value-driven structure dedicated to helping business owners win.

Now is your time. Book a call today.

Are you interested in learning more about achieving financial freedom? Try one of these articles next:

Defining Your Financial Goals Beyond “Make More Money”
How to Save Money as a Business Owner
Life Insurance for Business Owners: Why It’s Time to Revisit Your Policy