Balancing income, inheritance, and future plans.
Eleanor is overwhelmed by the complexities of managing her newfound wealth and the ongoing inventory management responsibilities of her late husband's woodworking side business. She struggles to determine a safe withdrawal rate from her IRA while ensuring the business's inventory isn't a drain on her resources, and to establish a clear estate plan that reflects her wishes.
Using the Ending Inventory Calculator, we assessed the value of the woodworking business's current inventory and projected future inventory needs based on anticipated sales. This allows Eleanor to make informed decisions about liquidating the business or continuing it with a manager. We coupled this with the Tax Equivalent Yield Calculator to find higher yield investments in her taxable account to offset business costs, and used the Debt-to-Asset Ratio Calculator to evaluate the financial health of the business.
Data from Eleanor's brokerage statements and the woodworking business's financial records were inputted into the Ending Inventory Calculator, Tax Equivalent Yield Calculator, and Debt-to-Asset Ratio Calculator to provide actionable insights.
$15,000 increased annual income from optimized investment allocation and $8,000 reduction in potential inventory spoilage.
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