Business Exit Planning – Page 3

Navigating the Founder Exit Paradox with Jerome Meyers

By Life Unlimited | September 27, 2023

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What happens after you retire or sell your business?

Today’s guest, Jerome Myers is certain that you will fall victim to the ‘founder exit paradox’ and experience feelings of uncertainty and loss of purpose.

In this episode, Larry Heller, CFP®, CDFA ® chats with Jerome about why many business owners suffer an existential crisis after selling their business or retiring from a leadership role. Listen as he explains the ‘eight exits of a founder’ and how you can emotionally prepare for your next phase.

Jerome discusses:

The importance of focusing on the human element of a profession rather than the financial benefits
How he helps clients gain clarity and formulate a strategy for their next phase of life
Uncovering the ‘six centers of doubt’ and how to build clarity
How his framework helps individuals successfully transition away from corporate America
And more

Resources:

Retirement Heaven or Hell: 9 Principles for Designing Your Ideal Post-Career Lifestyle by Mike Drak

Connect with Larry Heller:

Connect with Jerome Myers:

About Our Guest:

Jerome Myers is an award-winning engineer, investor, mentor, and business strategist who helps founders navigate their Exit Paradox through his masterminds and coaching programs.

Prior to leaving his corporate leadership position, Jerome built a $20 million, 175-person division of a Fortune 550 company from scratch. He now uses his project management, engineering, and business expertise to advise business leaders on key areas such as: leadership strategy, process improvement, sales and data analytics in real estate, financial services, business services, and health care to help his clients double their revenue, time off and charitable giving.

Jerome is also a general partner in a multifamily real estate portfolio and serves on the North Carolina Agricultural and Technical State University Entrepreneurship Advisory Board.

In 2022, Jerome won the prestigious alumni achievement award for the North Carolina A and T State University College of Engineering where a fully endowed scholarship has been created in his family’s name. A noted media expert, Jerome has been featured in Business Insider, Black Enterprise, Entrepreneur, Biznow, CBS, ABC, and Fox.

Jerome has interviewed numerous newly exited operators (NEOs) on his top-ranked Dreamcatchers podcast which provides inspiration, education, and direction to his audience of founders who are building companies to sell after they exit the “Matrix”.

Retirement Reality Check: Are You Spending Enough?

By Life Unlimited | September 13, 2023

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Many people are afraid to spend money during retirement because they worry they will run out, but in actuality, many people aren’t spending enough!

In this episode, Larry Heller, CFP®, CDFA® provides insight and education surrounding how much you can afford to spend once you retire. Listen as he highlights what you need to consider when determining your financial plan, and the different variables surrounding your age, health, expenses, investments, and income streams.

Learn along with Larry as he discusses:

The importance of having a sound financial plan before you approach retirement
Why you need to be familiar with your expenses and anticipated lifestyle
How the Reservoir Strategy helps you prepare your time horizon while considering market fluctuations
The benefits of working with a Certified Financial Planner®
And more

Resources:

Connect with Larry Heller:

When Poor Customer Service Leaves a Bad Taste in Your Mouth (Ep. 135)

By Life Unlimited | August 23, 2023

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Life happens – plans get changed, good weather turns to bad, and luggage gets lost.

In this episode of Life Unlimited, Larry Heller, CFP®, CDFA shares his story about his experience with a notable airline company and how his situation could have been made better with one simple thing: communication.

Larry chats with his long-time producer and friend, Aric about his turbulent encounter, and how the simple act of keeping customers in the know can make all the difference when navigating unexpected situations or unfamiliar terrain.

Fasten your seatbelt, and listen as Larry discusses:

The importance of consistent client communication, especially during times of change
How his poor customer service experience left him baffled that a business with so many systems in place couldn’t effectively communicate with their paying customers
The value of proactive planning, personalized attention, and building loyalty
How following up and asking questions after a bad experience can benefit how you conduct business
Plus, a special sign-off from Aric Johnson, Larry’s long-time producer, and friend

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Mastering Divorce: Protecting Your Assets and Future with Lisa Zeiderman (Ep.134)

By Life Unlimited | August 9, 2023

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In today’s episode, Lisa Zeiderman, Esq., CDFA®, CFL™, and Managing Partner at Miller Zeiderman LLP, sheds light on the complexities and processes of divorce, particularly when it occurs later in life. This episode offers essential guidance to effectively navigate the challenges that may arise when dealing with shared assets and liabilities, the emotional strain of divorce, or intricate matters related to business ownership and tax implications.

Listen as Larry Heller, CFP®, CDFA®, and Lisa share valuable insights on critical questions to ask when searching for a divorce attorney. They also discuss why divorce proceedings can differ when you own a business and delve into other significant issues, such as imputation of income, division of assets and liabilities, and maintenance laws.

Throughout this episode, you will gain useful insight surrounding divorce including:

Who to seek for help when dealing with assets, liabilities, and equitable distribution.
The emotional toll that divorce can have on your physical and mental well-being.
Tax implications surrounding the sale of the matrimonial home.
Considerations to keep in mind when divorcing with children, especially concerning custody arrangements.
How to address separate property claims, such as inherited assets or pre-marital property.

Connect with Lisa Zeiderman:

Connect with Larry Heller:

About Our Guest:

Lisa Ziderman is a highly respected managing partner at Miller Ziderman LLP in New York. As a matrimonial attorney, CFL™ and certified divorce financial analyst, she specializes in complex financial and custody divorce cases for high net-worth individuals with multiple prestigious awards and memberships, including being named a notable woman attorney.

And a notable diverse lawyer by Cranes, New York. Lisa is a trusted expert in her field. She has been featured in renowned publications like Psychology Today and Financial Advisor Magazine.

The Gray Divorce Phenomenon: Redefining Your Life and Retirement with Andrew Hatherley (Ep. 133)

By Life Unlimited | July 26, 2023

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Today’s guest, Andrew Hatherley, CDFA®, CRPC® is the founder and CEO of Wiser Divorce Solutions, LLC and Transcend Retirement, LLC. After going through a divorce at 52, Andrew realized that there was a niche that wasn’t fully being attended to; people who are divorcing later in life.

In this episode, Larry Heller, CFP®, CDFA® gets candid with Andrew as they share their similar experiences of getting divorced after 50, how their practices (on either side of the US) help clients navigate their divorce, and why “gray divorce” is a growing phenomenon.

Listen as they list some of the things they wish they had known during their separations, as well as what their clients are experiencing as gray divorcees. Gain valuable insight into the importance of being knowledgeable in divorce proceedings and your options, how best to plan your financials, and why adapting your mindset is so beneficial to live your life with purpose and fulfillment.

Larry and Andrew discuss:

The special concerns of someone getting divorced later in life including how it impacts retirement
Why it’s important to work with trusted professionals like attorneys, therapists, and financial advisors
The emotional and psychological components involved and how you can better cope
How to rebuild your life and approach retirement with a positive mindset
And more

Resources:

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Connect with Larry Heller:

Navigating Loss: 4 Essential Steps to Take as the Surviving Spouse (Ep. 132)

By Life Unlimited | July 12, 2023

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Unfortunately, none of us truly anticipates the possibility of being thrust into the realm of widowhood. Join host Larry Heller, CFP®, CDFA® as he guides widows and widowers through the essential steps you should be taking as the surviving spouse.

In this episode of Life Unlimited, Larry discusses crucial steps to effectively manage your inherited assets. From reviewing the step-up basis for calculating capital gains tax to updating custodian accounts, he provides valuable insights to empower widows and widowers during this challenging time. Larry also delves into the topic of Required Minimum Distributions (RMD) and recognizing the importance of notifying the Social Security Administration. Don’t miss this episode as Larry equips widows and widowers with expert advice on navigating estate taxes and managing inherited assets with confidence.

Larry discusses:

How to go about setting up a plan for your inherited assets and what a step-up in basis is
Planning processes to implement based on your retirement plan
Reminders about RMDs and things to consider
What to know about social security measures when becoming a new widow
And more

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Unveiling the Emotional Side of Money: Insights from Christine Luken (Ep. 131)

By Life Unlimited | June 28, 2023

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Prepare for an insightful exploration of the deep emotional connection between money and relationships in this thought-provoking episode. Larry Heller, CFP®, CDFA®, is joined by esteemed podcast host and founder of the Financial Dignity Movement, Christine Luken. With her expertise in coaching high-earning professionals, business owners, and divorcees to overcome overwhelming debt and achieve remarkable financial growth, Christine brings a wealth of knowledge to the table.

Join Larry and Christine as they delve into the intricate dynamics of using money as leverage, the power imbalances it can create within a marriage, and its profound impact on relationships. Gain valuable insights and strategies to navigate the emotional aspects of money within your own partnerships.

Discover how to cultivate healthier, more balanced relationships with money as Christine discusses:

How she got into the financial industry and her turbulent relationship with money
Why our emotions have the ability to cloud our better judgment, leading us to poor financial decisions
A word of advice to females who are in a financial relationship of any kind; what to consider, when to get involved, and how to take action
And more

Resources:

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Connect with Larry Heller:

About Our Guest:

Ready to master your money and become a financial success? Then you need Christine Luken, the Financial Dignity® Coach in your corner!

As the Founder of the Financial Dignity® Movement & a Certified Financial Counselor, Christine has coached hundreds of high-earning professionals to pay off staggering amounts of debt and massively increase their net worth over the past fourteen years.

Christine’s three books, Money is Emotional, Manage Money Like a Boss, & Financial Dignity® After Divorce, have landed her over 100 podcasts, TV, and radio interviews, establishing her as the authority on money and emotions.

When she’s not coaching clients from her office in Cincinnati, you can find this Certified Divorce Specialist & member of the Financial Therapy Association curled up with a good book, a fluffy cat, and a strong cup of coffee.

Mastering the Craft of Business Valuations: Expert Tips and Insights with Karl Janhsen, CPA, P.C. (Ep. 130)

By Life Unlimited | June 14, 2023

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From selling a business to retirement planning, partnership negotiations, divorce proceedings, and estate planning, there are many reasons why someone would need a business valuation. Although the empirical data has vastly improved since the early days in this field, professionals still prioritize understanding each business individually and utilize several different valuation approaches including market, cost, and income to build a comprehensive business valuation.

In this episode, Larry Heller, CFP®, CDFA®, is joined by our guest Karl Janhsen, CPA, P.C. who shares his journey into the complex world of business valuations. While there is more science involved now, it still requires a sense of art. Karl also shares an interesting and challenging valuation case involving a biotechnology company that developed a revolutionary chemotherapy delivery system.

Listen in as Karl Janhsen discusses:

The challenges faced in the early days of business valuations.
Factors that can affect the value of a business, such as concentration risk and market data.
The need to use multiple approaches to evaluate a business’s value and the importance of customization to meet clients’ specific needs.
And More.

Connect with Karl Janhsen:

(631) 928-6300
LinkedIn: Karl Janhsen

Connect with Larry Heller:

About Our Guest:

Karl Janhsen is an experienced CPA, ABV with a career spanning over 30 years in public accounting. He worked at Deloitte & Touche, LLP and several accounting firms as a partner where he oversaw audits and challenging clients and was involved in business valuation engagements. In 1998, he co-founded Covati and Jahnsen CPAs, PC, and Premier Business Appraisals Incorporated. Providing financial and tax advice to a diverse clientele, with over 100 hours of training and business valuation techniques and theory, Karl is a sought-after expert in the field.

The Risk Factor: Unraveling Investment Pitfalls (Ep. 129)

By Life Unlimited | May 24, 2023

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The lack of risk assessment in some investment types can lead people to overlook potential risks until a negative outcome occurs. With the current state of several regional banks such as Silicon Valley Bank, it is becoming increasingly important to understand and manage financial risks pertaining to cash and other investments.

In this podcast episode, Larry Heller, CFP®, CDFA® provides insight into the complexities of financial risk management. Join him to gain a deeper understanding of the nuances of cash, bonds and equities and essential insights on mitigating risk in today’s volatile economic landscape.

Larry discusses:

Risk and how it relates to a number of different asset classes
The ins and outs of FDIC Insurance, treasury money markets, and debt limits
Solutions to help maintain your confidence in your portfolio
Cash risks you might not have considered before
And more

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Guiding the Visually Impaired: A Journey of Inclusion in Triathlons and Ironmans with Caroline Gaynor (Ep. 128)

By Life Unlimited | May 10, 2023

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People with disabilities may face challenges when engaging in everyday activities. However, participating in competitive sports can be even more daunting for them.

What can we do to provide them with the necessary support?

Join us in this release as Larry Heller, CFP®, CDFA®, sits down with Caroline Gaynor, Vice President, Relationship Director & Investment Specialist at Avantis Investors.

During this conversation, Caroline discusses her journey of guiding visually disabled athletes in high-intensity and competitive sports such as triathlons and Ironmans. She shares insights on how she became involved in this field and some of her most remarkable experiences. Furthermore, Caroline provides suggestions on how we can support para-athletes.

Caroline discusses:

How visually impaired athletes can participate with modifications in sports such as triathlons
Her most eye-opening experiences while guiding in triathlons and Ironmans
The hardest part of helping others in high intensive sports
Ways you help para-athletes and where you can volunteer
And more!

Resources:

Connect with Caroline Gaynor:

Connect with Larry Heller:

About Our Guest:

Caroline Gaynor has a day job working as a regional director for a large asset manager. Outside of her job, Caroline works hard at something that isn’t a job but is more than a hobby: guiding visually-impaired triathletes. A triathlete since her college years, Caroline got into guiding by chance in 2008 and was hooked.