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Found 6 results

  1. Think you're too young to start planning for retirement? Think again! How many times have we heard about a shop owner that had an unfortunate accident, serious illness or even worse, death? Make it one of your goals to starting planning for your exit, and for life after auto repair, no matter how young you are. Create your exit strategy. Speak with an attorney, a financial advisor, a business coach. Make sure that not only you, but your family, will be taken care of should something catastrophic happens. Life sometimes throughs us a curve ball. Be prepared!
  2. With the COVID-19 situation, many shop owners of retirement age may be putting thier retirement plans on hold. I get this. It makes sense in many cases. But, please think about you and your family. Many shop owners have a 30, 40, even 50-year plus history in the auto business, with most of those years owning and running a shop. If it's possible, perhaps succession plan with the right person, or hiring a general manager to run your shop is a possibility. Perhaps a family member? The key thing is to have a secure business that, if you do plan on holding on to it, will bring you an incom
  3. He had been working with his accountant for 6 years. That’s over $134k in over-payments. The reality is most CPAs only do tax preparation not tax planning, there is a HUGE difference! I am offering free tax planning assessments to all group members. Where we will look at: Deductions review & Strategy planning Legal Entity Optimization Retirement Option & Plan to Hit Extra 1M by Retirement Insurance Review & Assets Protection TCJA (Trump Tax) Review Message me direct or book your slot on my website. View full arti
  4. According to The NY Times, you should have a well-padded cushion of savings by age 50 if you want to retire comfortably. This is how it should look: By age 50, have five times your annual salary saved. ( ie. $100K income = $500K savings) By age 55, have six times your annual salary saved. ( ie. $100K income = $600K savings) By age 60, have seven times your annual salary saved. ( ie. $100K income = $700K savings) The Times also reports that less than 13% of Americans have a pension or a solid retirement plan. How does your situation looks? Are you on track to retir
  5. He had been working with his accountant for 6 years. That’s over $134k in over-payments. The reality is most CPAs only do tax preparation not tax planning, there is a HUGE difference! I am offering free tax planning assessments to all group members. Where we will look at: Deductions review & Strategy planning Legal Entity Optimization Retirement Option & Plan to Hit Extra 1M by Retirement Insurance Review & Assets Protection TCJA (Trump Tax) Review Message me direct or book your slot on my website.
  6. I was attending a recent TECH NET council meeting a few weeks back and one of the topics discussed was Exit Strategies. One of the members spoke about finding a key person in your company, if there is no one in your family to consider. There are many shop owners out there that are near retirement. It would be a good idea to share a few ideas. I know many shop owners may not even have a plan. My lawyer approached me about a year ago and insisted that I sit down with him to plan out my future. I am 59, been in business for 34 years and been in the auto repair business since high school. If


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