Ep223 Life After a Successful Exit

Michael J. Firestone, CFA 

https://www.linkedin.com/in/michaeljfirestone/

Fire Capital Management, LLC is a boutique investment management company that helps people achieve their dreams. We empower our clients to re-imagine what is possible to accomplish with their investments, social impact goals, and family legacy. The firm offers private wealth management and multi-family office services to HNW individuals, families, and foundations. Fire Capital Management is strategically headquartered in the heart of innovation economy, San Francisco, CA.

 

Sophie Tsang, MBA

https://www.linkedin.com/in/sophietsang/

Sophie’s Civil Engineering background and marketing expertise contribute to her broad understanding and high efficiency in marketing real estate properties. She has been consistently a top performer since 2005, and personally ranks the highest 1% by volume of all Silicon Valley Realtors. Also a WSJ Real Trends 2022 America's Best Honoree.

As a seasoned negotiator, Sophie’s no-nonsense marketing system and meticulous attention to details have been key success factors. She is known as the The Fixer, or Miracle Worker, frequently helps sellers sell their homes when other agents had failed or given up. She helps buyers get into homes when they previously struggled. 20+ years in Real Estate, Sophie has honed her skills on getting the best possible results for her clients. Her trusted network of vendors and use of cutting-edge technology ensure each step of each transaction is executed to achieve next level result!

Sophie is a proud parent of 2 Eagle Scouts (in college). She has done guest speaking at Faith Radio, and written a column for World Journal Newspaper to share her Real Estate knowledge. Sophie is a Palo Alto Rotarian and a Paul Harris Fellow, also a Golden Gate Keeper (Golden Gate National Park Conservancy).

 

Jeanie (Kim) Colclough

 

https://www.linkedin.com/in/jcolcloughtravel/

In my professional role as a travel advisor, I specialize in creating soft adventure experiences for my clients. My favorite types of trips to book include:

Cultural Immersion Vacations — These trips are designed to get travelers interacting with local people, experiencing cultural events and dining on authentic cuisine.

Culinary Tours — Perfect for foodies and wine lovers, culinary tours allow travelers to experience the unique flavor of their destination.

Active Vacations

As I carve my own path within the travel industry, I have made this quote my motto: "Travel and change of place impart new vigor to the mind." These words of Seneca define the need for travel as part of our human experience.

When we book a vacation to a new destination, whether it's a tropical island filled with the potential for relaxation or an ancient city built for learning and exploring, we know we will be changed by the experience. Travelers come home feeling refreshed and rejuvenated, while also yearning for more at the same time.

Contact me today to book your next adventure! I look forward to helping you every step of the way.

 

We discuss:

 

What are the most common mistakes people on the panel see people make as soon as they have a large sum of money? 

 

Depending on the exit price, what are some options a seller must know to do the right things to create generational wealth or maintain the exit for a needed amount of time?

 

After they exit their companies or sell a part of them, many people want to diversify their wealth; what are some ways that they choose to do this?

 

What issues do they face if they are looking to invest in real estate?

 

What about if they want to start investing in real estate projects? Are there any problems they might face?

 

If an owner doesn’t properly plan before the sale, what can they do afterward to mitigate taxes?

 

The most common thing owners say the first thing they will do after selling a business is to go on a trip. What are things they should consider?

 

If there are economic changes, how would they impact the new life of the former business owner?  What should a person think or do if their assets from the sale significantly drop?

 

What about options for living abroad?  What are the first steps someone could take to try life overseas out?