Ep # 70 - The Egg Story: Make Sure You’re Taking Action
It’s the new year and we’re kicking off 2024 by celebrating the podcast's growth over the past year and reflecting on our mission to make retirement planning approachable for everyone.
In this call-to-action episode, we emphasize the importance of taking action, drawing parallels with Joe’s insightful egg story, and highlighting that true understanding comes from applying knowledge to your situation.
This season we’re offering up a wealth of practical insights, expert interviews, and a supportive community, all aimed at helping you live your best retirement.
What You’ll Learn in Today’s Episode
Purpose of the Podcast: We want to make retirement planning more accessible to you. We want to share insights into the common concerns and hesitations that you might face when consulting financial advisors.
Client Engagement Process: In response to the podcast's growth, we’re introducing an updated client engagement process for 2024. We are offering a strategy session designed to address burning questions about retirement. This is followed by the option for a comprehensive plan, allowing you to implement steps on your own or with the support of Retirement Planning Simplified.
Certified Exit Planning Advisor (CEPA) Designation: Joe obtained his CEPA (Certified Exit Planning Advisor) designation. This certification equips his to assist business owners in planning their exits strategically. It’s important to start this process several years before the planned exit date.
Encouragement for Action: We encourage you to act in 2024 by setting clear goals and creating actionable plans for your retirement. Joe tells the egg story to highlight that understanding comes from applying information rather than just accumulating it.
Ideas Worth Sharing
· “Part of the reason we wanted to do this was that approachability piece, which is one of our core values in our business, and just making this topic of retirement and financial planning more approachable for people."
· “Just decide what your goal is for this year and create an action plan. Our action items for you are to create an action plan for 2024 to move the needle forward.”
· To drive the value of your business, make sure you have good processes for your people, policies, and procedures. Have a good diversified customer base and vendor base. Those are some of the key things."
· “The other side of that is also getting your financial plan and your plan in general in place so that you have something to retire to, not just something to retire from.
· "Just because we see clients coming to us thinking they're going to get a lot more for their business than they do, and it blows up their retirement plans. And at that point, we can't help because they've already sold.”
Resources in Today’s Episode
Retirement Planning Simplified
Your Retirement Planning Simplified Podcast
Ep # 34 – Retirement for Business Owners with Bob Gauvreau
Ep # 50 – Managing Taxes: Strategies for Business Owners
Ep # 64 – Retiring Business Owners: Success Stories and Expert Tips with Nick Mombourquette
Empower Your Retirement Planning with Expert Strategy Session Insights with Joe Curry
“We just want to help people make better retirement decisions so they can live their best retirement.” - Joe Curry
In a world where retirement planning can feel overwhelming and intimidating, it all starts with making informed financial decisions, particularly in the realm of retirement planning. With a focus on approachability and a commitment to helping you lead your best retirement, we simplify financial planning for individuals and business owners. Joe reveals his Certified Exit Planner Advisor (CEPA) designation that will help to give you a comprehensive and strategic retirement plan.
Joe also shares the egg story and the importance of taking action instead of collecting knowledge. We discuss clients who feel embarrassed or judged when seeking financial guidance, which led us to emphasize approachability in financial planning.
In this episode, you will be able to:
· Simplify your retirement planning process for peace of mind.
· Discover the secrets behind the explosive growth of podcasts.
· Strategize effectively for a worry-free retirement future.
· Become a Certified Exit Planning Advisor and add value to your expertise.
· Uncover the key factors that drive and affect business value.
Joe's CEPA Designation and Business Exit Planning
Joe achieved his Certified Exit Planner Advisor (CEPA) designation. Joe can now guide business owners to strategically plan their retirement with the sale of their business. He can help make your business attractive to potential buyers or successors, and who wouldn't want that? In this episode, Joe underscores the importance of having well-established processes, policies, and a sound operational structure – stuff that might not make it onto most people's radars when thinking about the value of their business.
The Egg Story or Make Sure You Take Action
Joe tells the egg story. There are many types of ways to prepare eggs. Say you want a fried egg. You can research a million ways to make a fried egg but if you want a fried egg you have to take action. You can educate yourself, but without action, you won’t get that fried egg.
New Client Process for 2024
With 2024 come resolutions. We’re encouraging you to take action in planning your retirement. This year we’re offering a strategy session that covers an A-to-Z financial plan. We're talking estate planning, risk management, income planning, investment, and tax planning all rolled into one comprehensive package. We’re ready to kick-start an inclusive and detailed process for the incoming year, which starts with this session.
The resources mentioned in this episode are:
· Visit retirementplanningsimplified.ca to access more resources and information about retirement planning.
· Schedule a strategy session with our team to get personalized advice on your retirement planning questions.
· Check out the podcast episodes with Bob Gauvreau and David C. Barnett to learn more about maximizing value in your company and exit strategies for business owners.
· Consider consulting an advisor with a CEPA designation to help you plan your exit strategy if you're a business owner looking to retire.
· Create an action plan for 2024 to move the needle forward in your retirement planning journey.
Timestamped summary of this episode:
00:00:00 - Introduction and Podcast Growth
Joe and Lindsay discuss the exciting growth of their podcast in 2023, with monthly downloads tripling and reaching over 16,000. They also mention updates on the podcast and share their excitement for the third year of the show.
00:01:47 - Purpose of the Podcast
Joe and Lindsay explain that the main reason for starting the podcast was to make retirement and financial planning more approachable for people. They emphasize the importance of helping individuals make better retirement decisions and living their best retirement life.
00:04:53 - New Client Process for 2024
The hosts discuss the new process for potential clients, including a strategy session for unbiased advice and a comprehensive plan option. They emphasize the flexibility for clients to implement the advice on their own or with the help of the hosts.
00:07:33 - Joe's CPA Designation and Business Exit Planning
Joe shares his excitement about obtaining the CPA designation (Certified Exit Planning Advisor) and explains how it enables them to have conversations with business owners about planning their exit strategy to increase the value of their business before retirement. The importance of personal financial planning for retirement is also highlighted.
00:10:40 - Final Thoughts and Action Plan for 2024
The hosts encourage listeners to set goals for 2024 and create action plans to move the needle forward in their retirement planning. They emphasize using the podcast and website for valuable information and resources.