Business
In this podcast episode, I discuss the basics of determining business valuations and why it's crucial to build something outside of your primary business. While we have more control over our personal businesses, it's never a good idea to become dependent on it as our main asset when we're ready to retire. The goal should be to take advantage of tax-preferred accounts along the way while building a diversified investment portfolio outside of our business. Especially when we've reached capacity in our business and are not looking to grow it further. Not every business is scalable! Tune in to get my complete thoughts on the pitfalls of becoming overly dependent on the equity in your business and the basics of determining what your business may be worth.