The X’s & O’s

For many business owners, their business is the largest asset that they own and it’s common that they sell their company to fund retirement. But many entrepreneurs don’t even know what their business is actually worth and are unable to put a solid plan together without that information. Brent, Matthew, and Joshua discuss how a business valuation creates a clear picture to see where you are now and what steps you may need to take to reach a successful retirement.

The Hosts:

Brent Pasqua, Matthew Theal and Joshua Winterswyk



Brent Pasqua: Welcome to Retirement Plan Playbook. I’m Brent Pasqua, host and founder of RPA wealth management. And I’m here with Matthew Theal, certified financial planner. Also, as always, Joshua Winterswyk, certified financial planner. We got the band back together. Excited to be here. I think we’ve got a great topic on deck today, and today we’re going to talk about business valuations. And did you know that only 2% of business owners actually know what their business is worth? I think it leads into a lot of conversations about why people should get a valuation if they are a business owner.

Brent Pasqua: As we get started, we have some cases that are increasing in California. I don’t think that’s a surprise to anybody. It’s been pretty bad here for a while. So what are you guys doing to keep busy and keep active and keep positive thoughts as we go through this tougher period.

Matthew Theal: I just do my own thing. Like I mentioned on one of the previous pods, my wife and I were blessed enough to be able to buy a home in December, so we’ve just been kind of hanging there. I really want to go to Costco, but I’m too scared to go. I have gone to a Home Depot, but just because I had to. I needed things for the home. But again, that place is a little scary as well. So we basically just stay in and walk around the neighborhood.

Joshua Winterswyk: Yeah, we’ve been really safe. My wife works in the hospital, so we try to take all of the right precautions. But when she’s working, and which she’s been working a lot, I try to get out on the golf course still. I know we talked a lot about that last year, and that hobby’s continued. Still really enjoying it. But then when my wife is off, we try to do things with our dogs: walks, we’ve taken them to the dog beach a couple of times, which is really fun, that’s still open. And then just the normal stuff: grocery stores, and catching up on TV shows we’ve missed.

Brent Pasqua: Yeah. I feel like outdoor, it’s so nice just to be outside. We got good weather still out here. I’m always trying to do stuff with the kids; whether it’s a random trip to get ice cream, or something that they just enjoy, I mean, it makes their day better and gives them something to look forward to. So I like surprising them. I think that’s always fun.

Joshua Winterswyk: Yeah, that’s cool.

Matthew Theal: Can I add something real quick on this? Anyone listening, I think the three of us know quite a few people who have had the vaccine, and … You know? Go get it. Definitely go get it. We don’t know anybody who’s had an adverse reaction. I’d say we probably know at least 20 to 30 people who’ve had the vaccine. Go get it. Let’s get this coronavirus over with. If your number’s called, go.

Brent Pasqua: Yeah, I’m ready to move on.

Joshua Winterswyk: Yeah, it’s definitely the means to the end and I’m ready for this to be over.

Brent Pasqua: Absolutely.

Newspaper Boy: Extra! Extra! Read all about it!

Announcer: Let’s hear the latest hot takes on some recent news items.

Brent Pasqua: Let’s get to the headlines. The Presidential Inauguration is now over, thank goodness. Joe Biden is the 46th president. I think that was such, just a wild time. And I think all of us are glad that that whole … that thing is over with. The stock market is surging. Really, let’s talk about what’s going on.

Brent Pasqua: So if we think about … We ran some data on what the market returns were from the time that our president was elected to the time that they were inaugurated. And if we pull back some of them … Let’s go back to George W. Bush in 2004, the S&P 500 from the time that he was elected to the time that he was into inauguration was 3.97%. In 2008, Barack Obama, which he took over a massive decline that was happening in the market through the financial crisis, so it went down 19.94%, so pretty traumatic. In his second term in 2012 the S&P went up, from that November time period until January, 4%. And then surprisingly enough, under Trump it was up 6%, which if I thought back, I would have assumed it was a little bit higher just thinking about that period of what happened.

Brent Pasqua: But then in this last year, in 2020, from November 3rd until January 20th, the market was up 14.33%. What’s going on here? What does this actually mean?

Matthew Theal: Absolutely ripping, huh? I don’t want us to take victory laps, but we did quite a few podcasts talking about this. You know? We were saying how it doesn’t really matter who the president is; it’s more about how the economy is doing, and the economy is really strong. Historically, Democrats have actually been better for the stock market. So all the stock market participants at this point, the big money, they know that. So they’re investing. They’re happy Joe Biden’s in; it’s good for the economy.

Joshua Winterswyk: And I also just think that we put a lot of emphasis on tax rates and regulations, but obviously that isn’t one of the biggest drivers in the market. And I think we always tend to go to those two topics, but there’s a lot more variables that reflect these returns. And I’m glad you did say we could take a little bit of a victory lap because the market is just ripping.

Matthew Theal: Yeah, and one final point. You made such a great point on the corporations and taxes. Okay, so maybe the Democrats are going to raise Amazon’s taxes by 5%. That really doesn’t matter that much. Amazon’s going to find a way around that tax hike. So these corporate tax cuts or hikes, they really don’t have that big of an impact as much as people think. It’s just really something that goes through on the news to get you to sit there and watch it and listen, and get angry.

Brent Pasqua: All right. So another big anticipated event that happened, Netflix reported earnings. They have more than 200 million subscribers now. They added 37 million new subscribers in 2020 recently raised the price of their subscription by a dollar, and in 2021 it will release a new feature film every week. Its more recent top shows are Queens Gambit, Crown, Midnight Sky. So what are your thoughts of what’s really started to take place with Netflix.

Matthew Theal: Oh, it’s just booming. It’s a booming business. I think it’s really cool that Netflix is going to release a movie once a week this year. I feel like that’s really going to get people sitting down, firing up the Netflix. I could be wrong, but I believe their movies usually drop on a Thursday at midnight so they’re kind of there for you for Friday, Saturday, Sunday. The popular show you missed, this show is super popular, is … Bridgerton, I think it’s called. My wife watched that show. And I’ve heard from quite a few people that they’ve watched it multiple times, it’s so good. They really like it. It’s like a soap opera, more geared towards females. But I guess it’s been a big hit.

Joshua Winterswyk: Yeah. I’ve heard that actually, the same, about that show. I haven’t watched it; I don’t think my wife’s watched it either. But I think that’s on our watch list because I’ve just heard so many people talk about it.

Joshua Winterswyk: But pretty amazing. I mean, 200 million subscribers. And they’re projected just for more growth, and they really take advantage of the stay-at-home orders. But hats off to Netflix for just doing a good job with more content. I know we’re subscribers. We watch it. We’ve enjoyed a lot of their shows through this period. And the whole subscription industry is just doing really well right now because of the times, but at least it is something to look forward to with all of these movies, like you said, coming out this year, one a week.

Matthew Theal: Just another point too. I know we don’t talk about stock a lot, but everyone’s always been bearish on Netflix, especially with all the different streaming services coming in. So that was kind of the consensus view, right? Like, “Oh, Apple TV is going to beat them,” or, “Disney+ is going to beat them. Just wait until HBO gets a better streaming offer and they’re going to beat Netflix,” and Netflix is still beating all those companies so, again, the consensus view is wrong.

Brent Pasqua: It’s not like real competition to them.

Matthew Theal: No, not at all. I mean, and this is international too. Netflix is everywhere. But anyways, final point I’ll make is it’s becoming, with a Netflix subscription, like not having cable TV in the nineties. It’s just weird if you don’t have one.

Brent Pasqua: Yeah. It’s interesting that if you look at the trajectory of their increase of subscribers and usage and now cashflow, their company is like a rocket ship. After they reported earnings, I think the next day their stock price was up 16%.

Matthew Theal: Yeah, and all the Hollywood talent wants to work with them. And why? Because they treat them good. I mean, there’s a life lesson for you: Treat people good, they’ll want to work with you.

Brent Pasqua: And just their growth internationally is now more than their domestic growth. So, I mean, just putting out more content for the world, and seeing all of these subscribers even with their price increase of a dollar, good for them.

Matthew Theal: Their international content’s great too; highly recommend it. Haley and I watched La Casa de Papel. They dub it in the English if you want to listen to the English version, but we watched the Spanish version. Incredible show. It’s like five seasons so we were reading subtitles for five seasons, 30 episodes or however many it was.

Brent Pasqua: I need to get watching, man. I’m behind on a couple of these.

Announcer: Now that we warmed up with some hot takes, let’s go to the Retirement Planning Corner and see what’s on the docket for today.

Brent Pasqua: All right, let’s get in the Retirement Planning Corner. Today let’s talk about some business valuation stuff. Matt, you want to turn around and ask some questions.

Matthew Theal: Yeah, Brent. Actually, we’re going to take the host seat from you today and Josh and I are going to ask you some questions. You work with a ton of clients or business owners and you specialize in exit planning so we thought, today’s topic, it would be really good opportunity for you to explain to our listeners why getting a business valuation is important. So we’ll start by, just give us kind of a wrap up. Why should a business owner listen to this podcast?

Brent Pasqua: Well first, it’s really surprising that such a low percentage of all business owners actually know what their business is worth. For most people, owning a business, it’s probably your largest asset that you own and you don’t even know what it’s worth. You can’t really grow your business in a true fashion unless you actually know what you’re working with. And to know what you’re working with, you’ve got to know what your value is. Because your value is driven based off of different factors within your business, and so how can you say, “Well I can really grow my business,” if you don’t really know what it’s actually worth and what your weakness and strengths are? Now you may be able to look at some of your numbers and say, “Here’s my weakness and strengths.” But to set a foundation really of the business value is so critical. It’s such an important factor to really get the business growing.

Matthew Theal: I think a lot of business owners measure their business results as, maybe, “Hey, I’m growing my income,” or, “I’m adding employees,” instead of, “I’m growing and increasing my business valuation,” so real interesting point. Let’s jump into the five reasons why it’s important. How does it give owners a starting line?

Brent Pasqua: So if you’re a business owner, I mean, at some point you’re going to want to sell it. Right? I mean, there’s really only a couple of options: you either walk away from your business or you’re going to sell it. And there’s multiple ways, that we’ve talked about in the podcast, that you could sell your business. But if you’re going to sell it, chances are that you’re going to need to get a certain amount of money from the business in order to retire or make that next transition into that next chapter of life. So it really gives you a starting point of what your business is now worth. And if you have goals built for that next objective, or that next chapter of life, now it really puts a starting point of where you are to where you’re actually going to need to go.

Joshua Winterswyk: From a financial planning standpoint, and you guys could talk about this for a second as well. If you’re doing a financial plan for a business owner, how do you put the business value in there, to their plan, if you don’t know what the business is worth? You could just put a placeholder there.

Brent Pasqua: It’s a guess. And that’s the 98% of business owners we’ve talked about that’s never had a valuation done, right? And it’s just kind of crazy that there’s over 30 million different small businesses across the US, and really we’re only talking about 2% of them actually knowing that value and not guessing, putting that value into their personal financial plan, which that’s … For the most part, for most business owners, probably their biggest asset is their business. And not to know that value makes it really, really hard to do personal financial planning without knowing the value of your biggest asset.

Joshua Winterswyk: So basically what you’re saying is you can’t, as a business owner, do proper personal financial planning properly because you don’t know what your business is worth.

Brent Pasqua: Absolutely. I mean, that’s the biggest point.

Matthew Theal: All right. Well let’s move on to number two, Brent: testing your exit objectives.

Brent Pasqua: So testing your exit objectives is really important. So when you start to know your personal financial structure, you can start to test whether that amount that you may receive from your business, when you sell it, is enough. And what you can now start to build off of is, if you’re going to need, let’s say, $2 million from your business for the time that you retire, and currently you know that your business is only worth $1 million, you can start to test, actually, how long is it going to take to grow to that amount. If you’re actually going to need that $2 million mark, and all the ways that it’s going to take to really start to get you there, how long will it take to make it worth what you needed?

Brent Pasqua: I mean, that’s such a factor, right? You can now set a timeframe on either retirement or that next chapter of, “Is it going to take me five years to get to the point where I need it to be? Is it going to take me 10 years?” And then you could start to build reports to see, “If my business is worth a million now, how much is it going to increase each year? And how long is it going to take me to get it really where I need it to be?”

Matthew Theal: And don’t forget about the potential tax hit. If you need two to three million from your business in retirement, then you probably got to grow your business to at least a $7 million value to extract that after-tax money that you need.

Brent Pasqua: And I guess a question for you guys that work with business owners is if you knew, or for you personally, if you knew your business was worth enough right now to retire, would you retire?

Joshua Winterswyk: Probably. I mean, if that is your goal eventually to retire, and now you know you have enough resources and enough network to retire, to support your lifestyle, I mean, what other reason would you continue still working? You know? Just for the pure joy of it. But financially, if you’re financially free, I mean, that’s what we’re looking to achieve, and now you can retire, then I would definitely be considering that option if I knew that calculation.

Brent Pasqua: A lot of business owners also still work because of their employees. You know? We hear it all the time from business owners, “We have employees that have been with us 30 years. We can’t walk away from them.” This really allows you to start putting things in place so when your exit strategy begins, they’re really taken care of.

Joshua Winterswyk: Yeah, absolutely.

Matthew Theal: Yeah. I was going to say, what I think happens to a lot of business owners is maybe some time in their 40s or 50s, they’ll get an offer from a bigger firm that kind of blows them away, and they’re just not sure what their business is worth. They’ll take that offer, they’ll go retire for two years, they’ll get bored, and then they go start another business or do other investments.

Matthew Theal: All right, let’s move to number three: How does a business valuation provide that essential information that an owner needs to know?

Brent Pasqua: I think one area that it starts to be helpful for business owners is it really allows them to know what they’re going to receive as their net amount from their business. Because if you think about it, you think your business is worth two million, let me tell you something: chances are you’re not walking away with two million. You’ve got taxes. You’ve got costs that are going to go into selling the business. There’s a tremendous amount of factors that are going to be involved in selling it. And so what you think you may be receiving isn’t always what you’re going to net out of it. And what you don’t probably want to do is be in the last three to five years of your business ownership, and then come to realize that you’re not going to get exactly what you thought you were from the business, just based on what it was worth. So if only 2% of all business owners know what their business is actually worth, how many percentage of those actually know what they’re going to get from their business?

Matthew Theal: Probably very small. And I guess I jumped the gun talking about taxes, but so well put, Brent.

Matthew Theal: And then, we did the Exit Objectives podcast, the Eight Ways to Sell Your Business. And there’s so many different ways to sell your business, likely you might end up, if your business is big enough, 10 million or more, you’re probably going to end up using at least two or three of those strategies. And they all have different tax implications.

Joshua Winterswyk: And you’re just not scrambling. The earlier you start … Not only getting your valuation. And we talked about so many things: selling the business, the tax implication, your employees. The earlier you plan for this, the better you’re going to have a clear picture of the future, and helping you make better decisions about the business. And to avoid situations like you talked about, which is, “I sold my business and I’m back in the business,” or working again in two years, right? Because a lot of times you’re forced to make that decision because you got an offer and, “We really didn’t plan for the future.” So just very important.

Joshua Winterswyk: Jumping to number four: How does a business valuation, Brent, provide you a critical litmus test?

Brent Pasqua: I think one of the areas that’s really important that you get out a valuation is it’s going to give you a lot of criteria that is able to stack up your business versus other businesses in your same industry. But one of the things that we’ve learned a lot, from is working with brokers and business bankers who do mergers and acquisition, is that there’s these critical factors that drive the value of your business. We call them value drivers. And if you start to learn, as you do a business valuation, what is making your business worth what it is, and what’s going to make it worth more, you can start to really focus ahead of time on increasing the value of your business by strengthening those different areas.

Matthew Theal: Yeah. I think I’m going to give an interesting example with our industry, the financial advice. When we went through our business valuation process, we learned that actually having more clients doesn’t actually make your business more valuable. It actually could make it less valuable, which is kind of counterintuitive to how you would think. So as you work through your own business valuation, maybe you only have a couple of clients and one of those clients makes up 75% of your revenue. Well I got news for you: your business probably isn’t worth as much as you think.

Brent Pasqua: Yeah, and every industry is so different. Because if you look at valuations on other businesses, if you have a client that makes up, let’s say, 25% of your company’s overall revenue, chances are the value of your business is going to be significantly less. Because what happens if that one client leaves? These examples can be used across all industries in different ways, but it’s such a critical factor to know these value drivers in your business.

Joshua Winterswyk: Yeah. And that, to me, what I hear as well Is there is risk with not knowing. Right? And there’s risk without taking a deeper dive and getting a valuation. If we’re protecting risk, if you have partners or co-owners too, there’s more risk there. And so how do you really have a good buy-sell agreement, and you can talk more about this, Brent, without having an accurate value of what the business is worth?

Brent Pasqua: Yeah. I think that’s one of the things that we get most people that are motivated on when they come to us, is they want to protect their business. I mean, just looking at our own business, you have passwords to your computer, passwords to your software, keys, things that need to go and certain places. If something happened to you in you’re a business owner, can your wife or spouse or husband get into your business, or your kids, and run it and take it over? Or is it just going to be a fire sale? And chances are, unless you have spent a lot of time on buy-sells, continuity plans, it’s going to be a very challenging transition if something were to happen. And in the COVID world we live in, I have to imagine some of the number of these people that have passed away are business owners. And it’s sad, and it provides another obstacle for business owners to have to get over.

Joshua Winterswyk: Yeah, that’s a great point.

Matthew Theal: All right, let’s move on to number five: How does a business valuation help an owner with incentive planning?

Brent Pasqua: I think that’s a really good question, and something that we’ve established here and we’ve worked on it with a lot of different clients of ours. It provides you good information on really establishing who your key employees are, right? You need to know who’s important to your business. And if you know that they’re important to your business, you need to keep them. But also if you’re going to be selling your business, you’re going to need to keep them through the sale of your business and for a couple of years beyond. And so you could start to build incentive plans around those key employees to keep those people intact, and also you want to take care of them. But at the same time, you don’t want to lose the value of your business because you didn’t take care of some key employees who, once they found out you were going to sell your business, decided to jump ship to a competitor, and take stuff that … You know? Maybe you lost some customers in that transaction. That could provide a lot of challenge to owners transitioning, so it is important to start creating these incentive plans around key employees.

Matthew Theal: You know who figured this out really well is actually the technology industry, right? Because you’re doing a tech startup, and maybe you hire your first 10 employees or something after you get your initial money in the door, well they’re offering all of them some sort of stock options, stock based compensation plan, to keep them tied to the business. It doesn’t matter if you have a manufacturing business, or a deli, a tire shop, an alcohol shop, whatever it is, you should be offering some sort of incentive to your top employees to tie them to your business. And not only that, maybe one day they’ll be there to take over your business and you could sell it to them.

Joshua Winterswyk: And they feel like they have ownership, right? That’s why these people are so proud to work for these tech companies. And they just have really, really good culture because they are a team, right? They’re all part of this journey together. And just relating it to valuation, I mean, for them to be able to offer ownership, or incentive plans, they had to have a valuation done. And that just helps you out in so many more aspects of the business, it’s just really, really positive and that’s a really great place to start.

Brent Pasqua: Yeah. And I think one thing that shouldn’t get lost in incentive plans is not to assume that you’re putting an incentive plan in place to do a third-party sale. The incentive plan could be built that you’re doing an internal transfer to key employees and you’re selling the business to employees, and that’s why you’re putting that incentive plan in place. So there’s a lot of objectives that it can solve. It’s not you just do incentive plans for third-party sales to keep them; this could be all implemented to start to transition ownership to key employees.

Joshua Winterswyk: Great point. Brent, to wrap up today’s show, what are some important points business owners should consider?

Brent Pasqua: Well I think the first thing that they should consider is really starting to do a valuation. And I think it should be done at least yearly or every other year, depending on what stage that they’re at in the business. But from what I’ve learned doing our valuation … I think we were probably … What, Matt, three years in when I first did the valuation?

Matthew Theal: Yeah, it was probably three or four years ago.

Brent Pasqua: Yeah. So the biggest thing that I learned is that to really drive the value of our business up, I had to be replaceable. You need to make sure that you’re not the only one in the business that knows how to do everything, or that controls the business. And if you’re closer to retirement, you need to be able to transition out of the business. That’s what it had taught me. But it also has led to so many other aspects. Like if you want to do a partnership with a key employee, you have to know what your business is worth. You got to put a number on it. It’s got to be legitimate so that someone’s going to buy it. In order to truly sell your business, there has to be a buyer on the other end. And to do that, you have to take those critical steps to build the value in it.

Announcer: It’s time for RPA Recommends.

Joshua Winterswyk: You want to jump into the Recommends?

Brent Pasqua: Yeah. So one of the best parts of the show is really transitioning to doing our RPA Recommends. And Josh, why don’t you kick us off today?

Joshua Winterswyk: RPA Recommends, I thought about this, this morning, about what my Recommends was going to be. I don’t know if you guys have given this Recommend before, but I got a new knife for Christmas.

Brent Pasqua: Oh, nice.

Joshua Winterswyk: Yeah, and … game-changer. Obviously at home, cooking a lot, and just have these knives, hand-me-down knives, that I’ve used for a while. Never really spent the money to buy a nice knife. And my cousin gifted me a knife. And I went out even a week later and bought the matching knife to the knife he got me. Just really nice, and makes cooking even more enjoyable. I already enjoy cooking just as a stress reliever, and I like to eat. But if you don’t have a really good knife that you love, I would recommend going out and getting one because it really has made the cooking experience even better.

Matthew Theal: I agree. I’m a big high-end knife cooking guy.

Joshua Winterswyk: I knew you’d love that.

Matthew Theal: Yeah.

Matthew Theal: I’ll recommend people looking into Japanese knives. They’re really great. And then I know there’s a couple of German companies that make some really nice knives as well.

Joshua Winterswyk: Yeah. Mine’s Japanese, I think. It’s Cangshan. Have you heard of that?

Matthew Theal: No, but that sounds Japanese.

Joshua Winterswyk: Yeah. I think it is. But that’s the one I was gifted. And I got a couple more now after that, and really love it.

Matthew Theal: One point, too, I’ll make is it’s actually more dangerous to cook with a really bad knife than it is to cook with a really nice knife with a sharp blade. A lot of people don’t realize that, but you’re just not going to be able to cut through what you’re trying to cut through with a poor dull knife.

Joshua Winterswyk: For sure. More error.

Matthew Theal: Yep. A lot more room for error.

Joshua Winterswyk: Yeah. You’re pushing down, next thing you know, your finger’s right there.

Matthew Theal: Yep. Yeah, not good.

Brent Pasqua: What do you have for us today?

Matthew Theal: All right. So new homeowner, like I’ve been talking about, this will be my theme for a while. You get a new home, there’s a big upgrade in the square footage for us. So we got to keep it clean. So my wife, Haley, ordered … On Amazon, you could get a box of microfiber cloths. And we use those to clean everything now. We throw them in the wash when we’re done. We wash them, we dry them, fold them up, and put them back in. It is a great buy for $12, and then there’s a hundred wipes in there. But we used to use paper towels to clean our apartment, which was just really inefficient, so microfiber. I know you’re a big on microfiber, Josh.

Joshua Winterswyk: Yeah.

Matthew Theal: Did you recommend this before?

Joshua Winterswyk: No, no. I’ve never recommended it before, but I’m big on the microfiber cloth. The only thing I have to say about microfiber is that they’re not as absorbent, but they’re really good for cleaning, detailed cleaning, stuff like that. But they wash pretty well. But I’m a big fan of them. I use them for everything. My wife makes fun of me because I’m just always pulling out a new microfiber to clean up or do anything with them.

Matthew Theal: Yeah. Since we’ve had these at our house … We’ve had people coming over and stuff to see it. And my sister-in-law and my mom have both gone on the Amazon and bought microfiber cloth.

Joshua Winterswyk: I have a question for you: Have you cleaned your golf clubs with them?

Matthew Theal: No, but I’m just not playing as much. I need to. I need to clean them.

Joshua Winterswyk: There’s no grass on them.

Brent Pasqua: My Recommend is something that we had talked about, podcasts ago, was my enjoyment of watching FlavCity, Bobby Parrish, on Instagram and social media watching him cook. I mean, it’s kind of led me into cooking. So he just came out with his 5 Ingredient cookbook. And if you’re like me … I really don’t want to spend a couple hours in the kitchen, prepping a meal that you’re going to eat in 15 minutes. And the less ingredients there are, the faster you’re going to be able to get it done. He came out with the 5 Ingredient. I’ve cooked some of the meals. It is absolutely amazing. Simple to do. I think I recommend it to everybody. If you want to get quick meals, it’s not a lot of prep work. It gets done fast. Thought it was an awesome idea for our generation too.

Joshua Winterswyk: have you recommended FlavCity before?

Brent Pasqua: Yeah, but it was a while ago.

Joshua Winterswyk: Long time ago?

Brent Pasqua: Yeah.

Joshua Winterswyk: So he has a blog, right? A website, and then he has an Instagram page, and that what’s called FlavCity, right?

Brent Pasqua: Yeah, and he has a YouTube. And then he has a cookbook that he had launched, I think, last year, and then that was a much longer one where there was a lot more steps in it. But this is like the very simple, basic one. Awesome!

Joshua Winterswyk: Yeah, you told me about his Instagram page. I’ve been following him for a while. He has good Instagram videos. I’m sure that the book’s good; I’m to have to get that.

Matthew Theal: Actually, we got some feedback that a lot of our listeners did like the original FlavCity recommendation, a while ago, and learned a lot. Especially from his shopping videos, when he goes to the stores, those are pretty neat.

Brent Pasqua: Yeah. I like those.

Matthew Theal: Yeah, those are good.

Brent Pasqua: His Costco trips, tells you what’s good and bad.

Matthew Theal: Yeah, so I’ll have to take down that cookbook; I’ll buy it after the show. Good Recommend.

Brent Pasqua: Maybe we can reach out to him and get a sponsorship since we gave him so much plugs on the show.

Joshua Winterswyk: Yeah, exactly.

Matthew Theal: That’d be great.

Brent Pasqua: Come on, Flav.

Joshua Winterswyk: Yeah. We’re trying to get a podcast sponsor in 2021.

Brent Pasqua: You know, the other day from a business-owner client, they told me, after I was doing some planning with them and we’d got their valuation done, they said, “I’ve never felt so comfortable and so relaxed, with where we’re going financially and where our business is, than I do right now. And as an advisor, really that’s the greatest real compliment that you can get out of all of this, and that’s why we do what we do. So if you’d like to schedule an appointment with any of us, or you have any questions, please go to and schedule a complimentary consultation. You can also download our ebook from our website. If you’d like the show notes, please go to the

Brent Pasqua: As always, thank you for listening to Retirement Plan Playbook.

Matthew Theal: Thank you guys.

Joshua Winterswyk: Thank you.

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