KNOWLEDGE BASED FINANCIAL STRATEGY
A financial, business, and tax strategy is a three-pronged road map for success. This road map should not be based on gut instinct. A proper strategy should be rooted in data-driven financial decisions that get results. The suitable strategy will also depend on your personal goals, and which phase of life or business you are in. Whether you are in the Growth phase, Income phase, or Distribution phase—it is best to have to have a concrete strategy that you can stick to, rather than following perceived market trends.
We all need our businesses and personal investments to grow AND be tax efficient. If an investor is missing their goals or paying tax that could be deferred or sheltered—without realizing it, that person is paying OPPORTUNITY COSTS. These are hidden costs because they do not show up on the ledger. They do, however, lead to slower growth and smaller returns.
Simply put, OPPORTUNITY COST is the growth you have not achieved due to deficiencies in strategy or knowledge. Luckily for the investor or business owner, there are strategies that can be designed for THEIR SPECIFIC financial situation that will optimize their financial growth.
For instance: If a business owner is in the privileged position of having TOO MUCH retained earnings parked in corporate accounts, there are strategies that will allow them to grow their corporate assets tax free, while ALSO giving them access to those funds tax efficient. This strategy allows the business owner to reinvest the extra cash into their portfolio.
On the other hand, if a business is in the early stages, the strategy listed above may negatively impact their ability to grow. A good financial services advisor will take the time to understand your unique situation to ensure they are helping you implement the right strategies at the right time.
FINANCIAL FREEDOM IS A JOURNEY
Maximizing your earnings and reducing your opportunity costs is a marathon, not a sprint. This means as your life or business’ life progresses, your needs change and so do your investment and tax opportunities. Your financial strategy needs to be equally agile and adaptive, ensuring every possible eventuality is prepared for. Your financial services provider should be a trusted advisor that is with you on every step of the journey of life.
MAXIMIZE YOUR FINANCIAL POTENTIAL
With more than 15+ years working with high-end corporate clients and business owners as a business owner, Peyman Salari has developed keen business and tax insights. Peyman believes everybody should take advantage of financial and tax systems, otherwise the system will take advantage of them.
Mobile: 778-239-8714
Office: 604-363-3644
# 2650 – 1075 West Georgia St.
Vancouver, BC, V6E 3C9