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Financially Simple Bizcast


The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Sep 14, 2020

In episode 294 of Financially Simple, Justin explains the concept of the Wealth Gap.

All Small Business Owners plan to retire one day, sell their business, and enjoy their hard-earned wealth - but will you have enough to cover the expenses of the lifestyle you want for your retirement. In this episode, Justin defines the Wealth Gap, outlines the basics of its calculation, and how to reduce it.

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TIME INDEX:

00:48 - The Wealth Gap

03:12 - Where to Begin: Valuing Your Assets

06:28 - Know Where You Are Going

09:19 - Taxes

11:06 - Calculating the Wealth Gap

13:12 - Closing the Wealth Gap

16:24 - Your Number One Asset

18:25 - Summary

 

RESOURCES:

Financially Simple Educational Website

Financially Simple on YouTube

Financially Simple podcasts are recorded on a Blue Yeti Microphone & Samsung Notebook 9.

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BIO:

Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.