By Ed McClure, CFP®, PPC®
Growing up as the son of a financial advisor, I had the opportunity to learn about the industry early on. For as long as I can remember, I have been interested in money, finances, and entrepreneurship. Entrepreneurs are fascinating to me; they create something out of nothing! Entrepreneurs can start a company and create jobs and opportunities that improve people’s lives. Every company is different; I love learning how they work, how they overcame their particular obstacles, and how they ultimately succeeded. For these reasons, I’ve always had a lot of respect for small business owners.
Career Progression
Early in my financial planning career, I started working with individuals and families, and then I got into retirement planning. These experiences led me to the realization that I particularly enjoy serving as a resource for small business owners and employees. It is challenging and fun to create retirement strategies specifically for small business owners, and then provide similar services for their teams. In building these relationships, I’ve often begun to feel like part of the company myself.
When the market spiraled downward in 2008, a lot of people understandably panicked. I received a lot of calls from employees who wanted to pull their money out of the market, but I knew they would regret that decision. Although that time was difficult, emotionally and financially, I found it rewarding to have the opportunity to help employees make better decisions moving forward. I’ve seen firsthand that in stressful times, most people don’t necessarily need a lot of technical advice as much as they need someone to listen to them and provide a degree of reassurance, which helps them to think more rationally.
Retirement Planning for Small Businesses
Business owners tend to miss great opportunities, partly because they are busy with the day-to-day management of their businesses and partly because they aren’t always aware of their options. There are a lot of financial strategies that can help a business owner retire sooner, draw a nice income stream from his or her business in retirement, and considerably reduce tax liability over the long haul. There are also some great ways small business owners can incentivize employee engagement and loyalty that people often don’t consider. My job allows me to help business owners build a better retirement for their own families and their employees’ families.
Other Complex Financial Planning
Small businesses have a lot of moving parts, and so do many families and individuals. I find it personally satisfying to help people, in general, see their financial situations more clearly—no matter the obstacles.
For example, I’ve helped parents of young children and special-needs children put trusts in place to provide for their children’s needs should something happen to them. The number of variables can feel overwhelming, and the picture changes quickly as families grow and age. But it always brings a smile to my face when I leave a client meeting knowing that he or she now feels more in control and assured by his or her financial decisions.
I Am Here to Help
At the end of the day, my passion is educating people about their finances. I love knowing that I have helped people avoid expensive mistakes, and that they will get to enjoy a better quality of life because of the financial solutions I’ve helped them put in place. Whether you’re a small business owner or employee, a parent of young children, or in your 20s looking to get on the right path and learn things that previous generations often didn’t learn until later in life, I want to help. To get started, give me a call at (760) 607-0611, or email [email protected] to set up a consultation.
About Ed
Ed McClure is a CERTIFIED FINANCIAL PLANNER™ (CFP™), Professional Plan Consultant® (PPC®), and founder of McClure Wealth Management. With over 25 years of experience, Ed works with business owners who want to maximize their retirement plan benefits, businesses that need help setting up and managing a 401(k) for their employees, and families who want guidance while planning their futures. He is known for simplifying complicated and intimidating topics and making wealth management concepts easy for others to remember and understand.
Ed has established himself as a trusted resource for business owners and individuals, and his mission is to help his clients achieve the financial independence and well-being they deserve so they can give their time and energy to the people and things they love. He has a bachelor’s degree in finance from the University of Illinois. In his spare time, Ed conducts financial workshops for the Just In Time for Foster Youth organization, which helps equip young men and women as they come out of the foster care system. He also loves to travel and spend time with his favorite people. To learn more about Ed, connect with him on LinkedIn.