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Take The Financial Health AssessmentFor CXO-s What CXOs need:
What high-income executives with large corporates wanted in place as a financial safety net
was vastly different from what the HNW entrepreneur wanted.
High-income executives
often enjoy robust benefits packages, including perks like luxury travel, top-notch medical
coverage, and more. With such benefits, their take-home salary becomes essentially pure
savings or discretionary income for their lifestyle.
These executives typically prioritize income replacement to sustain their families' comfortable living standards, rather than focusing on long-term succession planning or wealth transfer. While some may have investments and property portfolios, their primary concern is ensuring financial security in the event of job loss or career changes.
However, when their employment situation shifts, whether due to job loss or a move into entrepreneurship, the transition period can be turbulent. This could involve unemployment or the time it takes for a new business venture to become profitable.