07/09/2026
If you are a business owner in partnership with your spouse within the same business, then you can't do your financial planning like an ordinary household.
This is the conversation I had with my business owner client recently.
He and his wife runs a 7 figure training business. They have 2 kids and a number of company employees.
When I first reviewed his portfolio, he was pretty confident that their financial plans were adequate.
Until I asked him one question...
"What happens if his wife is unable to work?"
He went silent.
When he finally replied, "then I'll have to close down the business."
That means both husband and wife lose their incomes but the insurance will only cover one party's income.
Hence it isn't adequate.
Furthermore, the implication extends beyond their family.
Their employees livelihoods will be at stake!
That's when my client realised his planning needs and responsibility goes beyond a normal household.
These are the kinds of conversation I have with my clients to have them make better informed decisions.
If you would also like to have a conversation about your own financial portfolio, DM me 'CONVO' and I'll be in touch!