The Business Owner's Guide to Financial Freedom by Kohler, Mark J. -- Read -- Imperial Library of Trantor

Index

Cover Title Page Copyright Dedication Contents Acknowledgments Introduction: The Difference Between Wall Street and Main Street Part I: Perspective

Chapter 1: The Entrepreneur Mindset

Good and Bad Personality Traits of Entrepreneurs Freedom Versus Flexibility A Better Entrepreneurial Mindset

Chapter 2: A Reality Check—The True Value of Your Business

What Is the Dollar Value of Your Business? Building Value Changing Markets, Industries, and Trends Creating Value Outside of Your Business

Chapter 3: The Truth About Your Financial Advisor

An Independent Advisor Suitability Versus Fiduciary Duty

Chapter 4: What Wall Street Isn’t Telling You

It’s the FEES! Problem 1: Annual Fund Operating Expenses (aka Fund Fees) Problem 2: Administrative Fees (aka Plan Fees) Three Strategies Your Advisor Won’t Talk About

Part II: Forge a Better, Smarter, and Safer Way

Chapter 5: The Lifetime Paradigm and the 4 × 4 Financial Independence Plan

Four Sequential Steps The Four Essential Elements A Lifetime Paradigm—A New Perspective on Retirement

Chapter 6: Step 1: Optimize What You Already Have

Creating Your Strategic Plan Building a Wealth Management Team Wealth Management Team Circle Team Captain Board of Directors or Advisors Meet Your Team Members Meeting with Your Management Team Regularly

Chapter 7: Step 2: Dealing with Debt as an Entrepreneur

Good Debt Versus Bad Debt Why Entrepreneurs Get into Debt Getting Out of Bad or Reductive Debt Staying Out of Debt

Chapter 8: Step 3: Maintaining Proper Cash Reserves

Cash Reserves Means CASH Reserves Significant Versus Liquid The Three-Bucket Cash-Reserve System Personal Living Expenses and Lifestyle Expenses Adjusting Your Monthly Transfer

Chapter 9: Step 4: Investing Your Profits and Building Buckets

Phases of Investing The Perfect Investment

Part III: Deploying Your Assets Strategically

Chapter 10: Understanding the Limitations and Potential Power of Social Security

The Concept and Reality of Social Security Optimize Your Contributions Now What About My Spouse and His or Her Payroll Planning? When You Are Ready to Claim Social Security

Chapter 11: The Role of Your Personal Residence

Do I Rent or Buy? Should I Have a Mortgage in the First Place? Should I Refinance My Mortgage? Do I Pay Off My Mortgage Early?

Chapter 12: Health Care—The Hidden Time Bomb

Health Care 101 and the Heart of the Solution HSAs, HRAs, and the 401(h) The Cost of Health Care During Your Retirement and the Role of Long-Term Care Insurance Asset-Based Long-Term Care Insurance

Chapter 13: Self-Directing and Strategic Use of the IRA, SEP, and 401(K)

Self-Directed Retirement Account Basics Avoiding Prohibited Transactions The Special Purpose LLC Structure Possible Tax Bite: UDFI and UBIT Taxes Avoid the Naysayers Additional Resources

Chapter 14: Why Rental Real Estate, and How to Do It Right

The Art of Buying Real Estate Is Real Estate for Everyone? Four Benefits of Owning Rental Property How to Avoid the Common Pitfalls of Real Estate Investing Protecting Yourself from Your Rental

Chapter 15: Vacation Property and Timeshares: Strategies and Pitfalls

For Those in “The Market” Options for Those Already with a Vacation Home Vacation Rental Strategy Timeshares—Not a Bad Idea

Chapter 16: The Proper Role of Insurance in YOUR Plan

Insurance Is Not a Waste of Money, It’s Leverage Two Types of Life Insurance Living Benefits Income, Savings Protection, and Tax Diversification—Bank on Yourself Super-Charge Your 401(k): The Role of Life Insurance Inside and/or Alongside Traditional Retirement Plans

Chapter 17: What You Should Be Buying from Wall Street

Understanding the Risks of Wall Street Investing Understanding Risk within Specific Investments What Should You Do About Investing with Wall Street?

Part IV: Exit Strategies for Your Business

Chapter 18: Preparing to Sell Your Business

The Appraiser The Disclosure Understanding EBITDA

Chapter 19: Pricing Your Business and Increasing Its Value

1. Multiple of Cash Flow Method 2. Balance Sheet Method 3. Cost to Create Method 4. Capitalized Earnings Approach Method 5. Discounted Cash Flow Method 6. Comparable Sales Method Increasing the Value of Your Business The Unexpected Side Benefit

Chapter 20: Helping Your Partners or Employees Buy the Business

Partners Employees Take Your Time with Employees

Chapter 21: How to Find and Sell to a Third-Party Buyer

Preparation Finding a Buyer and Valuation Disclosure and Due Diligence Negotiation Document Prep and Review Closing and Asset Transfer Tail Terms

Chapter 22: Selling to Your Family

Assess Yourself and the Company Pros and Cons of a Family Member Buyer The Process Potential Pitfalls

Part V: Protecting Your Hard-Earned Assets

Chapter 23: Asset Protection: Inside and Outside

Where’s the Beef? Two Types of Risks Automatic Protection Targeted Strategies

Chapter 24: Cyber Security Risks

You Are Responsible Continually Under Attack Take Action, or You Could Lose Everything Basic Cyber Security Countermeasures Advanced Cyber Security Strategies

Chapter 25: Where Estate Planning Fits into the Equation

Avoiding Probate with an RLT Estate Tax and the A-B Trust Strategy Don’t Give Property to Children—Let Them Inherit It Creative Provisions for Children Disinheriting a Child The Living Will/Health-Care Directive Top Three Mistakes with “Do It Yourself” Estate Plans

Our Financial Freedom Challenge to You! About the Authors Index

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