The Oregon Small Business Development Center (Oregon SBDC) recently recognized Collective Wealth Planning in its success story series. Read a bit about the practice, our humble beginnings, and the ways Oregon SBDC helped the firm thrive from the start:
Today we’re thrilled to introduce Oregon SBDC client Brenna Baucum, owner of Collective Wealth Planning in Salem. As a CERTIFIED FINANCIAL PLANNER™ professional and Certified Tax Specialist™, Brenna helps clients focus on retirement planning by using a life-centered approach.
What does that mean?
“The term ‘life-centered’ may seem unusual in finance,” Brenna explained, “but at its best financial planning blends technical skills with emotional intelligence, recognizing how human beings approach all aspects of life—with our heads and hearts.”
Among other financial services, Collective Wealth Planning helps clients minimize their tax liability, ensure that the legacy they’re building for their families is intentional, and live for today while saving for the unknowns of tomorrow.
Working with the Chemeketa SBDC helped Brenna apply her own principles of success to her startup. As she was transitioning from full-time employment to running her own company, she and her husband were careful to save as much as they could. But when it came time to spend that savings on the business, Brenna became anxious about it—she realized that she found it comforting to have such a healthy balance in the bank.
She shared this dilemma with her SBDC business adviser, who encouraged her to apply for the Entrepreneurial Development Loan Fund, a program in Oregon that supports small businesses and startups. The extra money from the startup loan was just what Brenna needed to launch her business with confidence.
“Did I end up paying interest on the loan? Yes. Did the funds give me extra comfort and support to meet my unique money needs? Yes,” Brenna said. “It was time for me to give myself some of the advice I’d been giving my client families for the past decade: Just because something makes sense on paper doesn’t always mean it makes sense for you.”
If you dream of being an entrepreneur, Centers in the Oregon SBDC network are here to help you make that dream a practical reality. Find a Center near you at https://buff.ly/3ywwupV.