What if working longer is costing you more than you realize? In this video, I reveal 6 compelling reasons to retire sooner rather than later, including the impact on your health, the value of your time, and the relationships that truly matter. Watch the YouTube Version The Value of Time: Why time is our most precious resource and why delaying retirement could cost you. Health Benefits: How retiring can significantly reduce stress and improve your quality of life. Limited Best Years:...

Listen in as I break down the critical details of 401k loans—the pros, cons, and major risks you need to be aware of before borrowing from your retirement savings. We discuss how a 401k loan works, the ease of accessing funds, and the potential advantages like no credit checks and quick approval. However, we also explore the often-overlooked dangers, including missed investment growth, double taxation, and the significant risk of repayment penalties if you change jobs or can't pay back the...

Here are my top 10 actionable recommendations to help you get your retirement savings on track, even if starting from zero in your 40s or beyond. Whether you’re 40, 45, or even 50 with no savings, these strategies will guide you through the steps needed to build a solid financial foundation. We’ll cover everything from how to save money effectively, budgeting tips, and smart investing strategies to growing your income, improving your mindset, and preparing for unexpected events. Watch the...

In this episode, we dive into the critical topic of borrowing from your 401k and why it could be a major setback for your financial future. Many business owners see 401k loans as a quick and convenient way to access cash, especially in tough times or for significant purchases. However, the hidden costs, double taxation, and missed investment opportunities make borrowing from your retirement savings a risky move. We’ll explore the common pitfalls of 401k loans, the true cost of paying...

In this episode, we dive into strategies to help business owners maximize their 401k to build wealth and reduce the need to rely solely on selling their business for retirement. Learn actionable tips on how to optimize your 401k, including when to start investing, how much to contribute, the best ways to invest your funds, and what to do with your 401k when changing jobs. We also discuss common mistakes to avoid, such as paying high fees, taking loans against your 401k, and not increasing...

Investing during market highs can be intimidating, but it’s also a great opportunity if you have the right strategies. I’ll guide you step-by-step on how to take advantage of soaring markets while keeping your investment goals on track. Resources: New Highs Happen In Clusters Chart Investing Before Market Crash Returns Chart ----- We help business owners: → Assess their level of readiness to exit from a financial, tax, and legal perspective → Craft a wealth plan to exit comfortably and...

In this episode of Business Exit Success, we dive into the concept of redefining retirement for high-achieving entrepreneurs who have successfully exited their businesses. Rather than settling into a traditional retirement, we explore how to channel the same drive and energy that fueled your business success into new, fulfilling ventures. Whether it’s through mentorship, volunteering, or lifelong learning, this episode will inspire you to think beyond the exit and embrace the next chapter of...

In this episode, I address the crucial question many business owners face: "Should I Retire Now?" I walk you through five critical questions to help determine if it's the right time to step away from your business. From assessing your financial readiness and calculating retirement needs to understanding the tax implications and managing post-sale investments, this episode offers a comprehensive roadmap for business owners considering retirement.  ----- We help business owners: → Assess...

In this episode, I share six key strategies to help you thrive when the market crashes. Drawing from my experience guiding clients through market downturns, I explain how to navigate financial turbulence and make the most of down markets. Whether you’re a business owner or an individual investor, this episode provides valuable insights on shifting your perspective, aligning investments with your timeframe, leveraging tax loss harvesting, considering Roth conversions, rebalancing your...

In this episode, I discuss the critical number every business owner gets wrong when selling their business: the net amount that goes into their pocket after the sale. I explain the various deductions that can significantly reduce the final proceeds from the sale price, including broker fees, outstanding debts, and taxes. Using a real-life example, I illustrate how a business sale price of $5.2 million can dwindle to just over $3 million after all deductions. Tune in to learn how to accurately...

In this episode of Business Exit Success, we dive into a vital topic for anyone looking to secure their financial future: the importance of asset allocation. Learn why asset allocation is the most crucial investment decision you'll ever make, how to determine the right mix for your portfolio, and the strategies that work for 99% of people. Whether you're planning for retirement, saving for a big purchase, or simply want to optimize your investment strategy, this episode offers actionable...

In this episode, I dive into the top three investment mistakes that can derail your financial future and how to avoid them. Learn why timing the market is nearly impossible, the dangers of selling in a down market, and the stress caused by checking your accounts too frequently. I share my personal experiences and practical tips to help you make smarter investment decisions, reduce stress, and build lasting wealth. Tune in to discover strategies that can help you stay on track and maximize...

In this episode, I share six essential money lessons that can transform your financial future. I discuss common financial mistakes and offer practical advice to help you avoid them. Whether you're just starting out or you're a seasoned business owner, these lessons will guide you towards making smarter financial decisions and building lasting wealth. Tune in to learn about the power of compounding interest, managing debt effectively, staying the course during market fluctuations, investing...

In this episode, I dive into the importance of understanding and breaking free from bad money habits that can hold you back from financial success. Drawing on over 15 years of experience as a Certified Financial Planner, I share nine common money mistakes and practical tips on how to overcome them. From the pitfalls of paying yourself last to the dangers of getting comfortable with bad debt, we discuss valuable insights to help you take control of your finances. Whether you’re a business...

In this episode, I dive into investing in life beyond financial gains emphasizing the importance of Return on Life (ROL) versus Return on Investment (ROI), sharing personal experiences and practical strategies for business owners planning to exit within the next five years. Discover how to balance financial success with a fulfilling life, ensuring a smooth and satisfying transition out of your business. ----- We help business owners: → Assess their level of readiness to exit from a...

In this episode, we delve into the world of leadership transitions with Matt Sharrers, an expert in CEO succession and advisor to private equity firms. Learn about the critical strategies for new CEOs, the importance of a shared exit plan among business partners, and how to navigate the emotional and practical challenges of stepping down. Whether you’re a founder preparing to step aside or a leader ready to take the reins, this episode offers invaluable insights and actionable advice. ...

In this episode, we tackle the crucial topic of exit planning for business partners. With more than half of privately held companies having multiple owners, the process of transitioning out of a business can be complex and challenging. Join us as we dive into why it's essential for business partners to have a shared exit plan and how to navigate the journey successfully. Key Discussion Points: Understanding Exit Goals: Why it's common for business partners to have differing exit goals and...

In this episode, we dive into the crucial considerations every business owner must address before exiting their business. Join us as we explore 7 essential questions that will help you strategically plan your transition and achieve a successful exit. Whether you're looking to retire within the next five years or just starting to think about your future plans, this episode is for you. By addressing these seven questions, you'll be better prepared to make informed decisions and set yourself up...

In this episode, we dive into the benefits of using a Charitable Remainder Trust (CRT) to maximize the proceeds from selling your business. Learn how CRTs can help you avoid capital gains taxes, provide a large income tax deduction, and create a lasting charitable legacy. Discover the steps to set up a CRT, real-life examples, and key considerations to ensure this strategy aligns with your financial goals and family legacy. Tune in to understand how this powerful tax-saving strategy can...

In this episode, we delve deep into Employee Stock Ownership Plans (ESOPs) with one of the nation's leading experts, Kelly Finnell. With over 40 years of experience, Kelly brings a wealth of knowledge and practical advice on how ESOPs can serve as a strategic tool for business owners looking to exit while ensuring a legacy of success and employee success. In today’s discussion, we cover: What is an ESOP and how are they structured The significant benefits they can offer as a retirement...

In this episode, we explore why establishing an exit strategy is not just wise but necessary for the wellbeing of both the business and the business owner. Despite the excitement of daily operations and growth, many small to mid-sized business owners overlook the necessity of exit planning. Without a solid plan, the impact of an exit can ripple out and affect everything you've built. We dive into ten critical areas impacted by exiting your business, from personal financial security to...

In this episode, we explore the top five barriers that entrepreneurs face when exiting their businesses and provide actionable strategies to overcome them. Discover how to address the lack of clarity on core problems, understand the financial implications, manage non-financial risks, and ensure leadership continuity. We also delve into the emotional challenges and how to prepare for a smooth and regret-free transition. I will share real-life stories and expert advice to help you navigate your...

In this episode, I interview Alex Prasad, a seasoned M&A attorney and entrepreneur and we dive into the crucial aspects of business exits and M&A law, exploring the profound impact of building relationships in successful business transactions. Discover practical strategies for business owners to navigate the complexities of selling a business, understand common misconceptions, and learn how to maximize sale value effectively. Whether you're planning your exit strategy or simply...

In this episode, learn about seven critical strategies to eliminate, reduce, or defer taxes when selling your business. We'll explore various tax-efficient methods, from leveraging real estate and Qualified Small Business Stock to structuring installment sales and investing in Qualified Opportunity Zones. Whether you're considering selling now or in the future, understanding these options can save you substantial amounts in capital gains and other taxes, potentially adding millions to your...