Do you employ the services of a Personal Chief Financial Officer (CFO), especially if you’re planning for your retirement? Justin interviews Mike Salmon of Moisand Fitzgerald Tamayo. They discuss how Mike’s tax prep business expanded to include financial advisory work, especially geared towards commercial real estate brokers. Mike also explains the difference between Sep IRA and Roth IRA as well as the defined benefit plan and 401k.

Highlights

• How does Mike find people to work with? 0:24
• Depending on your situation and phase of life, we are all ultimately financial buyers. 4:12
• Real estate is a unique industry: If you really love what you’re doing, you can work a long time. - 5:08
• What are some of the requirements that you need to comply with? 10:24
• The most common business deduction question. - 14:47
• What amount of cash flow should you save in the future? - 20:08
• What’s the difference between Sep IRA and Roth IRA? - 23:12
• No one likes budgeting: We call them tax and cash flow plans. - 29:27
• Introducing the defined benefit plan. - 31:36
• Can you buy real estate with the money from the defined benefit plan or 401k? - 37:01
• The defined benefit plan is not only age-dependent, but also salary dependent. - 39:52
• What’s the general ballpark? - 42:47 Episode Resources
• Connect with Mike Salmon
• www.forCREbrokers.com 
• https://forcrebrokers.com/#team 
• Connect with Justin Smith
• https://smithcre.com/
• https://www.lee-associates.com/
• [email protected]
• https://www.linkedin.com/in/justinbsmith