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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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
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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.