Jodi Perez and Jeannie Holliday were named to the 2024 edition of the Forbes list of Best-in-State Top Women Wealth Advisors


Monday – Thursday: 9:00AM – 5:00PM | Friday 9:00AM – 4:00PM

CALL US: (813) 908-2701


Book An Appointment

Call: (813) 908-201

Juggling business growth, cash flow, and retirement planning can be overwhelming for small business owners in Tampa, Florida. Only one in four Americans have a well-defined retirement strategy. 

Despite being a haven for entrepreneurs, Tampa’s self-employed residents face an uncertain retirement outlook. Many lack clarity on their future financial security. But the future’s not all bad! Your dream retirement is still well within reach if you adopt some smart retirement strategies.

Independent Financial Services helps Tampa business owners like you craft personalized retirement strategies to secure your financial future.

This guide dives into innovative retirement planning strategies specifically designed for Tampa’s go-getters. Let’s get started!

Safe Harbor 401k

This plan allows you, as a business owner, to make significant contributions to your retirement while ensuring your employees also benefit. Unlike traditional 401(k)s, Safe Harbor plans come with a built-in guarantee. 

You contribute a set minimum for all eligible employees, and in return, you’re exempt from annual nondiscrimination testing. This frees you up from complex paperwork and ensures your plan complies with IRS regulations.

Create an Exit Plan 

Before you set sail for your golden years, consider how your business will fare. Will it continue to thrive under new leadership? Here’s where a well-defined exit strategy and succession plan come in.

This plan should answer key questions:

  • Will you pass the torch? Identify a qualified successor, whether it’s a family member, key employee, or external buyer.
  • Is a buyout the answer? Structure an employee stock ownership plan (ESOP) or a management buyout to transition ownership smoothly.
  • Dissolution a possibility? Plan for a phased wind-down, ensuring obligations are met and assets are distributed efficiently.

Formalize your decisions! A documented plan minimizes confusion and ensures a smooth handover for all involved.  This allows you to focus on enjoying your well-earned retirement, knowing your business legacy is secure.

Strategically Sell Assets 

Many business owners have valuable assets tied up in equipment or property. But what if you could free up that cash for retirement without impacting your day-to-day operations? Consider the following: 

  • Sell Your Equipment: You sell your existing assets, like that $1 million piece of machinery, for a lump sum of cash.
  • Lease it Back: Immediately enter a lease agreement to continue using the same equipment for a set monthly payment.

What do you get out of it? 

  • Instant Cash Boost: Gain a significant cash injection to invest in your retirement or diversify your assets.
  • Business Continuity: Keep your operations running smoothly with uninterrupted access to the equipment you need.
  • Potential Tax Advantages: Consult your tax advisor to see if there are any tax benefits associated with the sale and leaseback transaction.

Slow Burn to Retirement 

The “slow burn” method lets you gradually wind down. Work full-tilt while saving, then slowly reduce hours, clients, or open days. This keeps income flowing as your workload shrinks. 

Want to stay operational? Delegate disliked tasks to new hires, freeing up your time. Plan a smooth transition by documenting everything.

Negotiate for Discounts 

Running a business for a while has its perks, and strong vendor relationships are one of them. But have you squeezed the most value out of those connections lately? Here’s a two-pronged approach to maximize your savings:

1. Renegotiate with Existing Vendors:

  • Leverage your longstanding history to secure better pricing or terms.
  • Review your contracts and see if there’s room for negotiation.
  • Potential Savings: A slight discount can add up significantly over time, boosting your bottom line.

2. Explore New Vendor Options:

Don’t be afraid to shop around! Get quotes from new vendors to see if you can find more competitive rates. This keeps your existing vendors on their toes and ensures you’re getting the best possible deals.

Find a supplier that offers better quality or service at a similar price point. By taking a proactive approach to vendor management, you can free up valuable cash flow that can be strategically reinvested into your retirement fund.


The “SIMPLE” in SIMPLE IRA stands for “Savings Incentive Match Plan for Employees.” It’s a great option for small businesses with 100 or fewer employees to offer a retirement savings plan to their team.

Employers can deduct their contributions to employees’ SIMPLE IRA accounts as a business expense, providing potential tax savings. Additionally, matching contributions made by the employer are tax-deductible, reducing the company’s taxable income.

This lets you set aside more money for your retirement fund.  

Work with Us 

Independent Financial Services specializes in helping Tampa business owners like you devise winning retirement strategies. We take the complexity out of planning, maximizing your business’s potential while ensuring your financial future.

Take charge of your retirement ambitions now! Schedule an appointment today and allow us to brainstorm the perfect retirement plan for you.