Josh Patrick joins us in our recent Virtual U.S. Financial Advisors podcast episode. He is the author and CEO of Stage 2 Planning. He is also the founder of “The Sustainable Business”. All of the services are aimed at helping business owners through hurdles and challenges while creating personalized financial plans to keep their money on track and helping them through the transitions in life. The common problem within the business community is the idea of what financial independence means and how owners are going to achieve it and retire. In addition, the actual retirement planning is left to later stages of life, as at the beginning, the hustle is entirely about growth and expansion.To address these problems and help business owners get the right financial independence, Josh has introduced a crucial tool that he calls “The four boxes of financial independence”. The model helps owners value their business correctly and have a well-thought-out retirement plan.The first step of the four-box model is to analyze the value of the business after tax. This helps greatly in step two, which is to prepare a detailed cash flow and savings plan. Box three is about how much business-related real estate the business owner has. So, when people close their businesses or move on, they don’t have to sell the real estate. Instead, they can keep it. Lastly, the fourth box is other investments you may save outside a qualified plan.According to Josh, if young business leaders reflect upon their life and business as a whole and start preparing for retirement right when they begin with a venture, they will have an extremely smooth journey leading to retirement.Tune in to the episode to know why your business should be a cash-generating machine and what investment opportunities you must seek to plan better for your retirement.Josh Talks About:(((((((((About JoshJosh has been a part of the business world for about 45 years. He started his first company in 1976 at the age of 24. Josh bought a small operation from his father, which was a vending and food service company. They fed people who worked in factories for over the next 20 years. The business grew from 1 part-time person to 90 full-time employees.After selling the business in 1995, he then went into the insurance business in 1996. He realized that business owners needed more than life insurance. So, that is when he opened up a wealth management firm. He has experience working with people in the blue-collar business world for the last 25 years. Today he works with people in the construction industry, specifically subcontractors and home builders.You can reach out to him via his website:www.sustainablebusiness.cowww.stage2planning.comDisclaimer:The content has been made available for informational and educational purposes only. The content is not intended to be a substitute for professional investment, legal or tax advice. Always seek the advice of your financial advisor or other qualified professionals with any questions you may have regarding your business or personal planning.