Are You Retiring Intentionally from Your Business or Just Winging it?


As I get closer to retirement, I ask myself this exact question all the time. Can I retire intentionally or should I just wing it?

On The Small Business Radio Show this week,  I talked about this with Zachary Larsen, a Certified Financial Planner (CFP) and founding partner of Intentgen Financial Partners.

Here is what we discussed:

Understanding Intentional Retirement

Zachary emphasizes the importance of intentional retirement planning, a concept that encourages individuals to retire with purpose rather than by accident. Many people, especially small business owners, often get caught up in the busyness of their daily lives, neglecting crucial financial conversations and planning. Zachary’s approach focuses on shifting the mindset from merely accumulating net worth to generating sustainable net income.

Key Takeaways:

Retire to Something, Not From Something: Zachary shares a valuable insight from a mentor, highlighting the difference between retiring as an escape from current circumstances versus retiring to pursue new passions and opportunities. This mindset shift can lead to a more fulfilling and purposeful retirement.

Net Income Strategy: Instead of focusing solely on net worth, which can fluctuate and cause emotional stress, Zachary advocates for a net income strategy. This approach emphasizes generating income from assets to support retirement goals, ensuring a steady and reliable financial foundation.

Actionable Advice for Retirement Planning

  1. Start Early and Plan Proactively

Ideal Timing: Zachary suggests that individuals should start serious retirement planning 5 to 10 years before their intended retirement date. This allows ample time to adjust strategies and ensure financial goals are met.

Monte Carlo Simulation: Utilize tools like Monte Carlo simulations to assess the probability of achieving retirement goals based on various financial scenarios. This can provide a clearer picture of potential outcomes and help in making informed decisions.

  1. Focus on Income Generation

Diversify Income Sources: Ensure that your retirement plan includes multiple income streams, such as investments, rental properties, or part-time work. This diversification can provide financial stability and reduce reliance on a single source of income.

Regular Reviews: Conduct regular reviews of your retirement plan to adjust for changes in the market, personal circumstances, or financial goals. Staying proactive can help mitigate risks and capitalize on opportunities.

  1. Engage in Meaningful Activities

Volunteer Work and Hobbies: Barry Maltz shares his desire to engage in volunteer work and contribute to causes he cares about during his retirement years. Identifying meaningful activities can provide a sense of purpose and fulfillment.

Lifelong Learning: Consider pursuing new skills or hobbies that interest you. Lifelong learning can keep you mentally active and engaged, enhancing your overall quality of life.

The Role of Financial Advisors

  1. Find an Accountability Partner

Trusted Advisors: Zachary emphasizes the importance of having an accountability partner, whether it’s a financial advisor or a trusted friend. This person can help you stay on track with your retirement goals and provide valuable guidance.

Judgment-Free Zone: Ensure that financial discussions are conducted in a judgment-free environment, allowing you to express your desires and concerns without fear of criticism.

Listen to the entire episode on The Small Business Radio Show.



Small Business Radio Show As a small business expert, Barry Moltz gets owners growing again by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures as well as consulting countless other entrepreneurs, Barry has discovered the formula to get stuck business owners unstuck and marching forward. As a small business expert, Barry applies simple, strategic steps to facilitate change.