Defuse Tax Time Bombs - Baobab Wealth

Team Subkit -

Interested in starting your own entrepreneurial journey in finance but unsure what to expect? Then read up on our interview with Jimmy Miller, Owner of Baobab Wealth, located in Nokomis, FL, USA.

What's your business, and who are your customers?

I am a fiduciary financial independence planner specializing in tax-free/efficient retirement income planning. My clients are generally people within ten years of retirement or recently retired.

Tell us about yourself

I found a passion for helping others with their financial goals while attending college in Anchorage, Alaska. Starting my career with Waddell & Reed in 2000, I quickly became the manager for the Wasilla office and then moved to Denver, Colorado, with the company to manage the office in Cherry Creek. In 2006, I decided to go out on my own with a group of advisors and become an independent advisor with ING Financial Partners. This allowed the freedom to provide products that were in the best interest of my clients and also start a fee-based practice.

In 2015, I founded Baobab Wealth Management, an independent fee-only financial advisory practice. At Baobab Wealth, I specializes in retirement income planning for Americans, Expats, cross-border families, and foreign nationals. A financial plan is at the heart of every client relationship.

I am registered with the SEC and holds life and health insurance licenses. I do have the CRPC (Chartered Retirement Planning Counselor) and the CMFC (Chartered Mutual Fund Counselor) designations from the College for Financial Planning.

What's your biggest accomplishment as a business owner?

I have been able to do well by doing good for others.

What's one of the hardest things that comes with being a business owner?

I believe that one of the hardest things about being a business owner is setting your own schedule. Many people need the 'structure' of a job and to be told when they have to be at work. Once you are your own boss and can set your own schedule, it is easy for many people to lack the self-discipline to work set hours on/in their business.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Know yourself, and make sure you have what it takes to be your own boss and control your own schedule.
  2. Own a business with future growth potential rather than one in a dying industry.
  3. Don't own a business that just trades time for money, like a job. If you buy a coffee stand and have to be there 10 hours a day to run it, you only buy yourself a job. Try and own a business that creates a residual income that can grow over time.

Where can people find you and your business?

Website: https://baobabwealth.com/
Facebook: https://www.facebook.com/BaobabWealth
LinkedIn: https://www.linkedin.com/in/baobabwealth/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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