GMM: Vincent Perry

Facebook is looking to add new friends on Wall Street. The social networking leader filed the paperwork on Wednesday for a $5 billion initial public offering.

That is half as much as investors had anticipated, but could be increased to meet demand.

The filing sets the stage for Facebook to go public this Spring. It would be bigger than Google’s $2 billion IPO back in 2004.

To take a look at what it means and a look at retirement plans for small business owners, financial planner Vincent Perry stopped by Good Morning Memphis Thursday.