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

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 just don’t know it. Yet.

You’re surrounded by multiple teams, and the more teams you have, the stronger your business will be and the faster it will grow. Who are these teams that are right under your nose? They’re the families of your existing clients. We’re not talking “family office” families with multi-million dollar trust funds for each child, we’re talking mom-and-pop business owners. America has tons of them. Everyone usually thumbs their nose at them because they don’t have enough assets to attract attention.

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At least that’s what everyone thinks. Even the moms and pops themselves. That may be true when you look at any typical 12-month period. If, however, you look at it a different way—a new way—those meager assets become transformed into multiple six-figure accounts, all within the same family. Potentially within a mere handful of years.

Christopher Carosa, CTFA, is chief contributing editor for, a leading provider of essential news and information, blunt commentary and practical examples for ERISA/401(k) fiduciaries, individual trustees and professional fiduciaries.

How many of your clients are family-owned businesses? Most professionals treat these relationships as business relationships, but they’re not. They’re family relationships, but no one is looking at them this way. What if you were the first one? How would they view you?

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

All these questions focus on something that’s most important to every mom-and-pop business owner—the same thing that’s most important to every mom and pop: their children. Family businesses are uniquely able to take full advantage of the Child IRA. And if parents time it right, their children can already be on the road to retire as multi-millionaires before they even finish their first year of college.

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

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

Christopher Carosa’s latest book is “From Cradle to Retirement: The Child IRA”