Escape the Treadmill: Unlocking Financial Freedom for Small Business Owners in the Sandwich Generation

Blaine Bowers |

I have worked with many small business owners over the last 20 years addressing various aspects of strategic planning.  One recurring theme frequently comes to the forefront in my interaction with small business owners; having so much focus on surviving and maintaining momentum on the treadmill of small business ownership that taking the time for strategic, comprehensive financial planning keeps getting bumped down on the list of small business owner priorities.

There are two main versions of this reoccurring theme.

“I am putting so much into my small business; time, money, blood, sweat and tears, and my time is flying by.  My business is ‘do or die’ and outside of my business, I don’t have much to show for what I’m giving of myself to run it.” 

Or as an alternative, I see a ‘shotgun approach’ to comprehensive planning; a smattering of accounts and strategies that aren’t really tied to each other or any unified goal. 

Here at Bowers Private Wealth Management (BPWM), we focus on Small Business Owners and IT Professionals who find themselves in the sandwich generation. 

The sandwich generation of business owners describes those who are tasked with managing family issues for their children and their parents while simultaneously managing their small business.  There is only so much money, and time, to go around, yet the needs of your business end up sandwiched between the needs of family members that are younger and older than the owner of the small business.   Everything is pulling at you trying to snatch away your focus. 

The wise strategy to get off this treadmill of small business ownership is not worrying about the past, or procrastinating any longer, but to start where you are.   

As a small business owner, I know that this can be a big mental hurdle, but by taking highly intentional steps to tackle the hurdle, you can empower yourself and step off the treadmill.

A typical strategy involves using the myriad of tax-advantaged accounts in an optimal fashion to help provide for future cash flow.  This can lead to financial independence outside of your business and bring much greater balance to your life.

At the end of the day, small business owners who have the ‘choice’ or the financial options to sidestep the treadmill, tend to be much happier and much more prepared to handle all that life can throw at personal and business interests. This is especially the case for the ‘sandwich generation’ who find the demands of their small business sandwiched between the personal needs of younger and older family members.

In taking a more diversified approach, navigating the expenses and fluctuations of your small business allows for wealth preservation and growth to become much more attainable.

If this resonates with you and you enjoy getting things done, reach out and we’ll set up your free introductory conversation. 


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