Do you think small businesseswould take notice if you told them a common tool can be used in anew way to both reduces current taxes and keep their children frommoving to a different city? (Photo: Shutterstock)

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You can't take on all this by yourself. You need a team;a different kind of team. This team is already in place, you justdon't know it. Yet.

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You're surrounded by multiple teams, and the more teams youhave, the stronger your business will be and the faster it willgrow. Who are these teams that are right under your nose? They'rethe families of your existing clients. We're not talking “familyoffice” families with multi-million dollar trust funds for eachchild, we're talking mom-and-pop business owners. America has tonsof them. Everyone usually thumbs their nose at them because theydon't have enough assets to attractattention.

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Related: Large companies' older workers a blessing for smallbusinesses

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At least that's what everyone thinks. Even the moms and popsthemselves. That may be true when you look at any typical 12-monthperiod. If, however, you look at it a different way—a new way—thosemeager assets become transformed into multiple six-figure accounts,all within the same family. Potentially within a mere handful ofyears.

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Christopher Carosa, CTFA, ischief contributing editor for FiduciaryNews.com, a leading providerof essential news and information, blunt commentary and practicalexamples for ERISA/401(k) fiduciaries, individual trustees andprofessional fiduciaries.

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How many of your clients are family-owned businesses? Mostprofessionals treat these relationships as business relationships,but they're not. They're family relationships, but no one islooking at them this way. What if you were the first one? How wouldthey view you?

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If you explained to them how to use an underutilized tactic toincrease family wealth on existing business revenues, do you thinkthey'd pay attention? If you showed them how to use their familybusiness to help give their children an edge over their peers,would they be all ears? Do you think they'd take notice if you toldthem a common tool can be used in a new way to both reduces currenttaxes and keep their children from moving to a different city?

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All these questions focus on something that's most important toevery mom-and-pop business owner—the same thing that's mostimportant to every mom and pop: their children. Family businessesare uniquely able to take full advantage of the Child IRA. And ifparents time it right, their children can already be on the road toretire as multi-millionaires before they even finish their firstyear of college.

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Who do you think those mom-and-pops will be forever grateful tofor helping them help their kids (and keeping them nearby)? Who doyou think those kids will want to thank once they become adults andenter the workforce, when they can see for themselves how muchfarther ahead they are compared to their peers? It's you.

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You've always wanted to make a difference. The Child IRA is adifference most people can't imagine. Imagine it for them, and yourbusiness will grow. Get them to take the simple steps to creating aChild IRA and they won't be the only ones benefiting from acomfortable retirement. You will, too, because when it comes timefor you to retire, these acorns will have grown to become mightoaks. What buyer doesn't like the offer of solid oak?

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Christopher Carosa's latest book is “From Cradle toRetirement: The Child IRA”

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Christopher Carosa

Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).