Building Wealth for Your Future

calculator, pad of paper, glasses, keyboard, and a plant. With the word "money"
Golden triangles with the words "made" and "Toria Troxel Time Wealth Strategies"
building blocks stacked in a triangle with different budget items as icons with the word "simple"

Beyond the Business — Building Wealth for Your Future

As a business owner, you put in the work every day to grow and scale your business. But what about your personal wealth? While your business might be your biggest asset, true financial security comes from building wealth outside of it.

Here are a few smart investment strategies to make sure your hard work pays off both now and in the future.

1. Don’t Put All Your Eggs in One Basket

It’s easy to keep reinvesting everything back into your business, but that can be risky. Having other investments like stocks, bonds, or real estate can help protect your personal wealth and give you financial security no matter what happens with your clients or workload. 

If you’re not sure where to start, the key is balance. Keep growing your business but also start putting money to work in other areas.

2. Take Advantage of Business Retirement Plans

One of the biggest perks of being a business owner? You have access to retirement accounts with higher contribution limits than a traditional 401(k). Here are a few options:

  • Solo 401(k): If you’re a sole proprietor or an LLC owner with no employees (other than a spouse), you can contribute up to $70,000—a huge tax-advantaged way to save for retirement.
  • SEP IRA: Great for self-employed business owners, allowing contributions of up to 25% of your net earnings (up to $75,000 in 2025)
  • Defined Benefit Plan: Best for high-income business owners who want to put away even more pre-tax dollars for retirement.

Even if you have one of these business retirement plans, you can still contribute to a personal IRA.

  • A Traditional IRA offers tax deductions that reduce your taxable income today. 
  • A Roth IRA doesn’t allow you to deduct taxes today, but gives you tax-free withdrawals in retirement.

By using both business and personal retirement accounts, you can maximize tax savings and grow your retirement nest egg faster.

3. Keep Cash Reserves for Flexibility & Peace of Mind

Business owners know that cash flow is everything. Having money set aside whether in a high-yield savings account or a brokerage account gives you:

  •  A cushion for unexpected expenses or slow months.
  • The flexibility to jump on new opportunities without financial stress.
  • The security of knowing you’re not 100% reliant on your business revenue.

Remember to set aside at least 3-6 months of expenses to build a strong financial foundation. Having a solid cash reserve means you’re not making business or investment decisions from a place of stress – it gives you options. 

4. Consider Real Estate for Passive Income

If you’re looking for another way to build long-term wealth, real estate can be a great option. Owning rental properties can help:

  • Generate passive income.
  • Build equity over time.
  • Provide tax benefits through depreciation and deductions.

Final Thoughts: Your Business is a Tool – Not the Only Plan

You’ve worked hard to build your business and it’s likely one of your biggest assets. But true financial security comes from building wealth beyond it.

By diversifying investments, taking advantage of tax-efficient retirement accounts, and building passive income, you create long-term security for yourself and your family – no matter what happens with your business.

If you want to start putting a strategy in place or have any questions, let’s chat!

📩 Email me at toria@timewealthstrategies.com or schedule time with me here.

Toria Troxel Time Wealth Strategies

Toria Troxel

Time Wealth Strategies

toria@timewealthstrategies.com

 
Black decorative swoosh
Mills & Mae