Parsonex Advisory Services, Inc.
Jonathan Miller is the President & CEO of Parsonex Enterprises, Inc. and its affiliates.
Jonathan leads a team of financial advisors who manage over $250 Million for clients across the country. He personally services a select group of clients located near his home in Colorado and brings a breadth and depth of knowledge that few advisors can boast.
Miller is an enthusiastic entrepreneur and executive who specializes in creating and growing businesses and systems, recruiting, training and developing financial advisers and entrepreneurs, creating effective marketing and distribution systems, and building strong management teams.
Miller has built several companies from the ground up, including Parsonex Securities, an independent broker/dealer, which he founded in 2007, Parsonex Advisory Services, an SEC registered investment adviser, an independent insurance agency and a mortgage company which no longer operates. Miller has succeeded in a variety of endeavors and excels at leading people-centric organizations.
Having started several successful companies he brings both industry level investment expertise and entrepreneurial experience to business owners and industry leaders who are seeking financial advice.
Jonathan, his wife Jayme, and their two children live in the front range and are active in the community.
BA, Political Science, Iowa State University
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Your calculations do appear sound, but be sure to factor in a couple other items. First of all, when people look at investment time horizon they assume that calculate "until retirement". In reality you shouldn't just invest up to retirement, but all the way through retirement. With that in mind, consider the following:
1. You will probably live a long time. Based on your calculation, if you earned a 0% rate of return, your liquid assets would last until your mid-80's. However, you could live longer than this and running out of money could be a risk for you (based solely on your liquid assets). Of course you could look at a reverse mortgage or explore other options, but assuming you didn't want to do that, you could run out of money or have to reduce your living expenses.
2. Things are getting more expensive (inflation). Based on this, if you have a level income, your purchasing power would decrease as you got older. The challenge this presents is that money by itself has no value, only the goods and services we can buy with it. So, you really need to plan for an increasing income during retirement, especially when one of you could live 20-30 years+. Otherwise, you would see your purchasing power decrease slowly over time.
3. Investing during retirement is different than when you are accumulating for retirement. However, a common mistake that retirees make is being too conservative, which casues them to not keep pace with inflation and taxes. Over a long retirement this can be devestating. Speak to a financial advisor to determing the appropriate portfolio or startegy to explore, but appropriate retirement income strategies are critical.
Your thought process is spot on and congratulations on retiring. Best of success and I hope you enjoy the coming years!
It depends. Assuming that the loan was already a corporate debt, you simply would own the stock and continue paying the loan. If the company is paying a personal loan that the owner had previously, the company should continue doing so. If you are paying a loan, personally, for the owner (aka you assumed it personally rather than through the corporation) then it is yours and it is part of your "acquisition costs" of the business.
Inside the corporation, if the cash flow is already there, you are in affect self-financing, with your new business acquisition, the purchase price which is something that all investment bankers on Wall Street would be thrilled with. Consult your accountant and attorney to make sure you properly handle this as different treatments could have different tax and business consequences for you.
You should open an IRA if you want to reduce your taxes for this year. Roth IRA contributions are not tax deductible.
I have no idea how much money you will make in your business or how much money they are talking about giving you. If you are giving up a percentage of your profits, you are basically selling equity, not getting a loan. You just need to look at the value the money you are receiving, how much more money you and your business can earn as a result, and compare that to the future value of the 5% of profits.
IRA's are "Individual" Retirement Accounts and have to be held by individuals. You can name beneficiaries for your IRA upon your death. In some states "community property states" the legal rights to the assets in case of divorce or other events legally belongs to both spouses. However, the account would still be held in the name of the indivdiual whose IRA it is.