Their annual business revenue is $750,000 while they both take a salary of $125,000. Their monthly expenses are $20,000, which allows them to reinvest profits back into their business. Due to their recent success, they are interested in bringing on an additional employee to help reduce the burden of operating the business on a day-to-day basis.

Arise Private Wealth Value Add:

* To attract qualified and quality employees, meet with your financial advisor to strategize which qualified or non-qualified plan you can implement to make your offer more appealing. Once decided – our team will facilitate the creation of this plan along with providing guidance and education not only to the business owners, but to each participant as well.

* Develop a comprehensive financial plan that addresses both personal and business financial goals, including saving for children's education, retirement planning, and estate planning with the goal to set aside funds for personal savings, emergency funds, and retirement accounts to ensure financial security and stability for the family's future.

* In depth insurance analysis - By conducting a thorough insurance analysis, we can help John and Emily identify and address potential risks, mitigate financial exposure, and ensure adequate protection against unforeseen events.

Arise Private Wealth Value Add:

* Ensure financial stability and independence post-divorce by implementing a budget that is continually tracked by our team which identifies areas for potential savings and prioritizing spending. Potentially cut down discretionary expenses where possible and allocate savings towards debt repayment, emergency savings, and long-term goals.

* Save for children's education by opening a 529 savings plan for each child to take advantage of tax-free growth and withdrawals for qualified education expenses. Determine an appropriate savings target based on projected college costs and desired contribution levels. Regularly contribute to the 529 plans, leveraging automatic contributions or windfalls to accelerate savings.

* Maximize contributions to tax-advantaged retirement accounts like IRA and 401(k) to benefit from compound growth and tax deferrals. Review investment allocations within retirement accounts to align with risk tolerance and long-term objectives. Consider consulting a financial advisor to develop a diversified retirement portfolio tailored to specific goals and time horizon.

Conclusion:

By implementing a comprehensive wealth planning strategy tailored to her unique circumstances and objectives, Emma can regain financial stability, secure her future, and provide for her children's needs as a single parent. Regular reviews and adjustments to the plan will be necessary to adapt to changing life circumstances and economic conditions, ensuring continued progress towards long-term financial success and peace of mind.