Agent Money: How Top Producers Master Their Business & Personal Finances with Michael Kilner & Jordan Curnutt - The 4 Stages of a Real Estate Agent Retirement Plan (Ep 6)

The 4 Stages of a Real Estate Agent Retirement Plan (Ep 6)

04/06/23 • 35 min

Agent Money: How Top Producers Master Their Business & Personal Finances with Michael Kilner & Jordan Curnutt

Managing business expenses and personal finances are completely separate tasks and agents are usually much more laser-focused on the day-to-day instead of looking years and decades out. But becoming a master of personal finance means giving yourself the option to walk away from work and enjoy financial independence.

In this episode Jordan and Michael will dive into the world of retirement planning for real estate agents and will follow a similar track as the one used for the four stages of an agent’s financial journey. Along the way, we’ll share crucial tips and strategies to build wealth and maintain your lifestyle in retirement. From understanding the different types of retirement accounts to tax planning and the potential role of investment properties, this episode is packed with practical advice to help you grow your nest egg.

If you haven’t spent as much time planning for retirement, there’s no better time to start than right now. Check out these four stages and start taking the first steps towards your long-term goals.

Here is some of what we’ll cover in this episode:

What is the opportunity cost of not getting these things set up and funding them? (4:23)
The simple steps the Rookie can take to just get the plan started. (5:34)
The Sophomore should consider the SEPP IRA (10:40)
Why the solo 401(k) is a great tool for the Veteran to utilize. (19:18)
Why a full-blown 401(k) retirement savings plan might make sense for a team. (22:47)
The biggest pitfalls in retirement planning. (27:04)

CONNECT:

Need help on the personal side of your finances? Work with Jordan here:
https://www.quantumplanning.com/financial-planning-for-top-producing-real-estate-professionals/
And if it's the business side where you need the most assistance, check out Michael here:
https://kilneradvantage.com/

Here is some of what we’ll cover in this episode:

What is the opportunity cost of not getting these things set up and funding them? (4:23)
The simple steps the Rookie can take to just get the plan started. (5:34)
The Sophomore should consider the SEPP IRA (10:40)
Why the solo 401(k) is a great tool for the Veteran to utilize. (19:18)
Why a full-blown 401(k) retirement savings plan might make sense for a team. (22:47)
The biggest pitfalls in retirement planning. (27:04)

Previous Episode

Ty Voyles - Building Enterprise Value + Learning from Mistakes (Ep 5)

Real estate might be one of the great methods for building wealth, but that doesn’t mean it’s easy to grow value within your real estate business. We all have to learn tough lessons as we try to build an agency or firm, but hopefully we come out of it much stronger.

Today’s guest has a great handle on the financial side of the business but it didn’t happen immediately. Ty Voyles is the CEO of Fulcrum Properties Group in Washington D.C. and someone we’ve collaborated with in the past. As he’s built the business alongside his partners, they’ve tried different financial structures for team members but not all of them have been successful. But they pivoted into one that did work and have leveraged that to grow into the business they have today.

This episode will dive into those different ways to build enterprise value and what it takes to find and keep strong agents on your team. We all have an idealistic vision of how to make this happen, but what is the reality of that? We’ll learn all about it today with Ty.

Here’s some of what you’ll learn in this episode:

How he started as a project manager with the government before looking for something with a faster pace, which is how he moved into real estate and built the business. (1:28)
How they structure pay for their real estate agents after learning from a mistake early on. (6:31)
The financial structure for a business with 3 co-owners. (10:56)
Building a real estate team – idealism vs reality. (20:00)
What is the value proposition for Fulcrum during a turbulent market to attract agents to the team? (31:27)
How often should you be checking in on the financial health of your business? (41:21)

Learn more about Ty: https://www.fulcrumpg.com/about/ty-voyles

Next Episode

Jason Martin – Surrounding Yourself With Great People + Achieving Freedom (Ep 7)

Today we’re excited to welcome on our good friend Jason Martin, who is a realtor at the Jason Martin Group in the D.C. area. Jason began his career in broadcasting before moving into real estate and had to quickly adapt to an entirely new business structure.

We wanted to talk with Jason about how he’s built his career and business through clarity, purpose, and passion. Join us to learn about his journey, mindset, and how he's aiming to become the top team in the DMV area.

This episode is filled with valuable tips on wealth creation, goal setting, and nurturing relationships, making it a must-listen for any ambitious real estate agent.

Here is some of what we’ll cover in this episode:

The value he finds in paying for a coach. (8:36)
The role a good financial advisor plays in growing a successful business. What his first few years in real estate looked like from a sales standpoint. (13:23)
The importance of leadership to building a team and creating strong relationships. (18:17)
His philosophy on hiring and how he’s improved that through his career. (24:23)
His approach to building his own wealth and managing his personal finances. (28:19)

Learn more about Jason and his business: https://www.jasonmartingroup.com/