Tag: Dear Rochester Retire Well
3 Simple Strategies to Make WAY More Money (EP. 82)

3 Simple Strategies to Make WAY More Money (EP. 82)

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Are you tired of feeling stuck at the same financial level? This is a common experience for both employees whose salaries seem stagnant and entrepreneurs with a limiting mindset who hold themselves back from growth.

In this episode, David Pulcini explores three simple strategies for making more money and building wealth. He highlights the power of passive income, shares examples of passive income streams, and illustrates how these avenues can pave the way to a more secure financial future.

Moreover, David underscores the pivotal role of investing in oneself. Whether you’re feeling stuck in your career or seeking avenues for personal growth, nurturing your skills and knowledge can open doors to higher earnings and fulfillment. He stresses the value of expertise in driving income growth, highlighting that becoming an expert in your field can significantly impact your earning potential.

Tune in to discover more insights on how to break free from stagnation and propel yourself towards greater financial success.

 

Watch The Full Episode on Youtube: https://youtu.be/H_OF-5wVQtI

 

During this episode, you will learn about:

[01:26] Today’s theme: How you can make more money

[01:53] The target audience for this episode

[04:04] What makes David the voice of authority in this topic?

[05:14] 3 Ways to make more money

[05:25] #1 Passive income 

[05:44] Examples of passive income streams

[07:54] Why passive income is important

[10:27] The role that time in the markets and good habits play in driving wealth

[11:46] What does SixPoint mean?

Website: https://sixpointfp.com/

[12:10] #2 Invest in yourself 

[14:10] What you should do if you’re an employee who feels stuck

[16:06] https://sixpointfp.com/

[16:26] #3 Become an entrepreneur

[18:42] Powerful sales tip

[21:36] Final words 

 

Key Takeaways:  

  • Spending less than what you earn and investing consistently leads to wealth. [03:56]
  • Passive income helps you stop trading your most valuable asset, time, for money. [07:00] 
  • Don’t be hard on yourself because someone else has something you think you want; you never know how they got it. [10:18] 
  • Building wealth relies on two things: consistent good habits and time invested in the markets. [10:27]
  • If you want to earn more money, become an expert in what you already do or want to do. [13:09] 
  • The majority of the wealthiest individuals are either business owners or have been in the past. [16:54] 
  • “Money is made in sales.” ~David Pulcini [18:17]

Book Time with David Pulcini:

Connect with David Pulcini:

View The Full Episode Transcript Here

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Family, Friendship, & Design w/ Kristin Lindley & Meagan Baker of Upstate Roots Design (EP.81)

Family, Friendship, & Design w/ Kristin Lindley & Meagan Baker of Upstate Roots Design (EP.81)

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Today, we are thrilled to welcome Kristin Lindley and Meagan Baker, the visionary co-founders of Upstate Roots Design, a thriving company based in Rochester, NY, specializing in interior decorating, redesign, and staging.

Kristin and Meagan share the journey that led them to co-found Upstate Roots Design, diving into the personal experiences and motivations that inspired them to pursue entrepreneurship. Moreover, they offer invaluable insights into the rewards and challenges of entrepreneurship.

Tune in and discover the dynamics of working with a friend as Kristin and Meagan reflect on the joys and complexities of their partnership. Learn how they’ve navigated through challenges and differences to build a successful business rooted in friendship and shared vision.

As the conversation unfolds, Kristin and Meagan offer valuable advice on how to overcome hesitations and doubts about starting your own venture. Additionally, they discuss their favorite client success story, providing further insights into the rewards of entrepreneurship and the impact of their work.

 

Watch The Full Episode on Youtube: https://youtu.be/U0kZ2rAUhhk

 

During this episode, you will learn about:

[02:18] How Kristin Lindley and Meagan Baker met

[03:00] The backstory that inspired Kristin to co-found Upstate Roots Design with Meagan

[06:12] What prompted Meagan to co-found Upstate Roots Design with Kristin?

[09:16] When did they start the business?

[10:14] The services offered by Upstate Roots Design

[13:08] What does SixPoint mean?

Website: https://sixpointfp.com/

[13:53] What’s the best part of being an entrepreneur?

[15:56] Advice for anyone hesitant to start their own business due to the perceived job security in the corporate world

[20:10] What is it like working with a friend?

[23:07] The challenges and differences they have navigated during their partnership journey

[26:55] https://sixpointfp.com/

[27:32] The most challenging thing about entrepreneurship

[31:03] Favorite client success story 

[33:24] Who is their ideal client or customer

[35:11] How to connect with Kristin and Meagan

Website: https://www.upstaterootsdesign.com/

Instagram: https://www.instagram.com/upstaterootsdesign/

LinkedIn: https://www.linkedin.com/in/upstate-roots-design-llc-477a3a181/

Facebook: https://web.facebook.com/profile.php?id=61557016735039

Key Takeaways:  

  • Being an entrepreneur gives you the freedom to grow something on your own and be in control of what you do and how you do it. ~Meagan Baker [13:53]
  • Entrepreneurship offers you freedom and flexibility in your schedule to prioritize your family. ~Meagan Baker [14:14] 
  • As an entrepreneur, you have endless opportunities for growth and innovation. ~Kristin Lindley [14:30]
  • When starting your own business, prioritize building your brand because a strong brand presence attracts clients. ~Kristin Lindley [18:18]

Book Time with David Pulcini:

 

Connect with David Pulcini:

Connect with Kristin Lindley & Meagan Baker:

View The Full Episode Transcript Here

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What Is Required To Build A Sellable Business (EP. 79)

What Is Required To Build A Sellable Business (EP. 79)

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At some point, every business must undergo a transition of ownership, whether through succession planning, a sale, or closure. Selling your business can not only bring financial freedom, but also frees you from operational burdens like employee management and client demands.

However, despite these benefits, some individuals may experience regrets because they are uncertain about what to do next as they navigate a new chapter without the familiar demands of their business.

In this enlightening episode, David Pulcini, the Managing Partner at SixPoint Financial Partners, sheds light on the transformative journey of selling a business, highlighting the profound changes that accompany such a significant decision.

Pulcini discusses the sacrifices business owners must make to ensure the success of their ventures. Additionally, he shares an inspiring story of his friend John, a visionary entrepreneur who built his business from scratch and navigated challenges and setbacks, ultimately achieving a successful sale of his business for $24 million.

Tune in for valuable insights.

 

Watch The Full Episode on Youtube:  https://youtu.be/2JQ6WS9ggZ4

 

During this episode, you will learn about:

[00:32] Episode introduction

[01:05] Today’s focus: Selling your business

[01:37] The changes that occur when you sell your business

[02:29] The story of David Pulcini’s friend John, who built his business from the ground up and later successfully sold it

[03:21] The sacrifices you have to make as a business owner

[04:16] https://sixpointfp.com/

[04:31] The challenges John navigated in his business journey and how he successfully rebuilt his business

[10:30] What does SixPoint mean?

Website: https://sixpointfp.com/

[13:05] What John did with his money after selling his business for $24 million

 

Key Takeaways:  

  • At some point, whether sooner or later, every business must change hands, either through a succession plan, a sale, or closure. [00:44]
  • Selling your business brings financial freedom and liberates you from order issues, employee concerns, and client demands. However, despite these benefits, some people may experience regrets because the business no longer needs them, leaving them with no idea of what to do next. [01:37] 
  • As a business owner, you must constantly make sacrifices, such as missing out on social activities and experiencing less financial stability, for the sake of your business. [03:21] 
  • First-generation business owners don’t just become successful by luck; they attain success through hard work and dedication. They sacrifice their time and friendships to achieve success in their businesses. [11:37]

 

Book Time with David Pulcini:

 

Connect with David Pulcini:

View The Full Episode Transcript Here

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4 Common Mistakes To Avoid When Selling Your Business (EP. 78)

4 Common Mistakes To Avoid When Selling Your Business (EP. 78)

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Selling a business marks a significant milestone in an entrepreneur’s journey, representing years of dedication and hard work. However, despite its importance, only a few individuals truly understand the complexities involved. As a result, most people stumble through the process and make common mistakes.

In this insightful episode, David Pulcini highlights four common mistakes entrepreneurs make when selling their businesses and how to avoid them. 

First on his list is lack of preparation, a mistake that can significantly diminish the value of your business or even derail the entire sales process. Proper preparation is key to a successful sale, from accurate and professionally prepared financial records to ensuring your business runs smoothly without the owner.

Moving on, Pulcini sheds light on the mistake of overvaluing your business. He explains how overvaluing your business scares off potential buyers and prolongs the sales process. Additionally, Pulcini delves into the emotional aspects of selling a business, a dimension often underestimated by sellers. He emphasizes that selling a business is not merely a financial transaction but also emotional.

Lastly, he stresses the importance of seeking professional help when selling your business. From business brokers to attorneys and financial advisors, assembling the right team can streamline the process and ensure a favorable outcome.

 

Watch The Full Episode on Youtube:  https://youtu.be/MWmP5KW1cxM

 

During this episode, you will learn about:

[01:06] Introduction to the episode

[01:34] 4 common mistakes when selling a business 

[03:02] #1 Lack of preparation

[03:24] Preparations necessary when selling a business?

[05:33] https://sixpointfp.com/

[07:46] #2 Overvaluing the business 

[08:24] Factors that differentiate the selling prices between two companies in the same industry

[09:30] #3 Underestimating the emotional aspects of selling your business

[12:33] What does SixPoint mean?

Website: https://sixpointfp.com/

[12:58] #4 Attempting to sell the business without professional help 

[13:10] Key people to have on your team when selling your business

[14:07] Recap of the episode

 

Key Takeaways:  

  • Lack of preparation can significantly diminish the value of your business or even derail the sales process completely. [03:05] 
  • When selling your business, ensure that your financial records are accurate, transparent, and professionally prepared. [03:28] 
  • A business that runs smoothly without the owner is more attractive to buyers. [05:07]
  • Making yourself obsolete will make your business worth significantly more. [05:16] 
  • Overvaluing your business scares off potential buyers and prolongs the sales process. [07:31] 
  • “Selling your business is not just a financial transaction; it’s emotional.” ~David Pulcini [09:35] 
  • Sell your business to the right person because whoever buys your business becomes part of your legacy. [12:54] 
  • When selling your business, you need a business broker, an accountant, an attorney, and a financial advisor. [13:10]


Book Time with David Pulcini:

Connect with David Pulcini:

View The Full Episode Transcript Here

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How to Choose A Financial Advisor (EP. 77)

How to Choose A Financial Advisor (EP. 77)

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Choosing a financial advisor is a crucial decision that requires careful consideration since it involves entrusting someone with your financial future. Before making this choice, it is essential to have a clear understanding of your financial needs and goals, as these factors will determine the type of advisor best suited for you.

The ideal financial advisor should not merely be a service provider but rather a dedicated partner in your financial journey, someone with whom you feel a sense of comfort and confidence in their ability to manage your money effectively.

In today’s episode, David Pulcini unveils the key considerations before embarking on the journey of selecting a financial advisor. He also provides valuable insights into the kind of advisor that fits you best.

Furthermore, David shares a list of 14 questions that listeners should ask any potential financial advisor. These questions range from exploring the advisor’s unique approach to retirement planning to understanding how they tailor strategies to meet individual client needs.

Lastly, he outlines a four-step guide to assist listeners in making an informed decision when choosing a financial advisor and reveals why opting for an advisor from a large firm might not be the most suitable choice. 

Watch The Full Episode on Youtube: https://youtu.be/mYtMH8gyhS8

 

During this episode, you will learn about:

[00:38] What’s in for you in today’s episode: How to choose a financial advisor 

[01:23] What you need to do before selecting a Financial Advisor

[03:35] https://sixpointfp.com/

[03:52] What kind of financial advisor should you look for?

[06:32] 14 questions you should ask any financial advisor

[09:28] What does SixPoint mean?

Website: https://sixpointfp.com/

[10:01] 4 steps to help you when choosing a financial advisor

[11:19] Why you should not choose an advisor from a large firm

[12:56] Get in touch with with David Pulcini: https://sixpointfp.com/

Key Takeaways: 

  • Before selecting a financial advisor, you should understand your financial needs and goals. [01:22] 
  • Your needs will dictate the type of advisor best suited for you. [01:43] 
  • You need to feel comfortable and confident in your advisor’s ability to manage your money. [08:46]
  • Your financial advisor should feel like a partner in your journey, not just a service provider. [09:01]
  • Choose a financial advisor who not only has the expertise, but also aligns with your financial vision. [12:42]

 

Book Time with David Pulcini:

 

Connect with David Pulcini:

View The Full Episode Transcript Here

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Investment Takeaways From 2023 and What to Expect in 2024 with John Harms (Ep. 74)

Investment Takeaways From 2023 and What to Expect in 2024 with John Harms (Ep. 74)

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Welcome to an insightful episode featuring John Harms, Partner and Investment Advisor Representative at SixPoint Financial Partners. In this engaging conversation, John reveals what prompted him to embark on investment planning. Furthermore, he offers a thorough recap of the investments and market dynamics of 2023.

As the episode unfolds, he discusses common mistakes observed among clients throughout the year, providing valuable lessons for all investors. Gain valuable knowledge as John addresses the critical question: When is the right time to exit a stock? Uncover practical guidance on navigating stock market fluctuations and making informed decisions.

As we wrap up, John shares his insights on what investors can anticipate in the upcoming year, equipping listeners with essential information to prepare for the challenges and opportunities ahead. 

Watch The Full Episode on Youtube: https://youtu.be/c_WM6r8dmCU

During this episode, you will learn about:

[01:09] Introducing today’s guest, John Harms
[02:19] What prompted John to embark on investment planning?
[04:57] https://sixpointfp.com/
[05:35] A recap of 2023 investments and the market dynamics
[13:52] How often does he review the client’s performance?
[19:35] Mistakes John has seen from clients this year
[23:44] What is the right time to exit a stock?
[30:05] What to look forward to in 2024
[36:27] Best way to get in touch with John Harms

Website: https://sixpointfp.com/

Key Takeaways:  

  • Most of the significant positive market days occur after major market declines. [19:57]
  • One of the best times to invest more money in the market is typically when it’s down by 30% [26:12]
  • As goes January, so goes the year. [28:51]

Book Time with David Pulcini:

Connect with David Pulcini:

Connect with John Harms:

View The Full Episode Transcript Here

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Tailoring Success: Adrian Jules’ Journey to Becoming Rochester’s Premier Clothier with Peter Roberti (Ep. 72)

Tailoring Success: Adrian Jules’ Journey to Becoming Rochester’s Premier Clothier with Peter Roberti (Ep. 72)

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Are you tired of settling for off-the-rack clothing that doesn’t quite fit your style or personality?

In this episode, David Pulcini speaks with Peter Roberti, one of the owners of Adrian Jules Custom Clothier, a Rochester-based business specializing in custom clothing. Peter goes over the company’s history, its recent successful expansion during the COVID-19 pandemic, and the personalized service they offer. Comparing his business to financial advising, he emphasizes the importance of understanding a client’s lifestyle and preferences to create a personalized plan. As well as providing advice on growth, Peter outlines the importance of having a clear vision for business owners.

David and Peter talk about: 

  • Peter’s background and the history of Adrian Jules
  • How he managed to open a new showroom during the COVID-19 pandemic and why he did it
  • What niche Adrian Jules serves and what their process looks like
  • How Adrian Jules stands out from other clothiers
  • How the biggest challenge of the business shifted from searching for clients to searching for tailors
  • How business owners can achieve success by stepping outside of their comfort zone and regularly reassessing their business
  • Advice for business owners who may be struggling or are just starting out
  • And more

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Peter Roberti:

About our Guest: 

Peter Roberti is a Master Tailor, Custom Clothing Designer, and co-owner of Adrian Jules Custom Clothier. Adrian Jules Ltd. has been featured in various forms of media, specifically in magazines such as Sports Illustrated, Playboy and The Robb Report. Through clothing they get to help their clients become the best version of themselves. When working with them, their clients will find that they will always be giving off the right impression to the public. They make it convenient for their clients to do all of their professional and casual shopping needs, while enhancing their lifestyle. They make the fitting process easy and simple by keeping each individual client pattern on file in their factory.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Are You Maximizing Your Tax Savings? with Trevor Smith (Ep. 71)

Are You Maximizing Your Tax Savings? with Trevor Smith (Ep. 71)

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In a world where financial decisions are becoming increasingly complex, understanding the nuances of tax planning has never been more critical.

In this episode, David Pulcini is joined by Trevor Smith, CPA, to talk about tax planning. Together, they go over some of the different year-end tax planning ideas that an advisor can help you with so you can pay less in taxes, now and in the future. They explore 3 of the 20  strategies for maximizing tax savings on their tax planning checklist, including Roth conversions and harvesting losses. They also touch on the backdoor Roth IRA strategy for high-income earners. 

Their conversation emphasizes the need for a financial professional who specializes in tax planning to handle complex tax matters.

David and Trevor talk about: 

  • How Trevor got into the financial services industry and what led him to tax preparation
  • The hardest part of the CPA process
  • What they do with clients’ tax returns when they receive them
  • Three of the most important parts of their tax planning checklist
  • What a Roth conversion is and how much you can convert
  • What tax loss harvesting is
  • What the “backdoor Roth IRA” is and some of the common mistakes they’ve seen people make with them
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Trevor Smith:

About our Guest: 

Trevor Smith is a seasoned CPA specializing in retirement income and tax optimization. He is committed to helping clients secure their financial future. His mission is to create tailored retirement income plans while minimizing their tax liabilities, ensuring they keep more of what they’ve earned. Trevor provides personalized solutions, upholds the highest professional standards, and empowers clients with financial knowledge. He aims to start their journey towards financial freedom and a worry-free retirement. In 2017, Trevor graduated from State University of New York at Fredonia with a Bachelor of Science in Public Accountancy and Business Administration with a concentration in Finance. Trevor has an active CPA (Certified Public Accountant) license with the state of New York. In addition to his career as a CPA/Advisor, Trevor is an avid golfer and fitness enthusiast. He and his wife, Rachel, are proud season ticket holders for the Buffalo Bills, sharing unforgettable moments cheering for their team. They are also passionate supporters of the Buffalo Sabres. These experiences add a dynamic balance to Trevor’s life, and his genuine love for helping clients succeed is his driving force.

 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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