Month: July 2024

Garcelle Beauvais’ Red Strapless Rose Jumpsuit

Garcelle Beauvais’ Red Strapless Rose Jumpsuit / Real Housewives of Beverly Hills Instagram Fashion July 2024

The sirens must have gone off at the @target brunch because Garcelle Beauvais was on fire in her red strapless rose jumpsuit. Her color is red and this jumpsuit proves just that. Life is too short to be wearing boring colors constantly when in doubt you can always count on red. So ring the alarm next time you step out Garcelle’s red hot jumpsuit! 🔥

Best in Blonde,

Amanda


Garcelle Beauvais Red Strapless Rose Jumpsuit

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Photo: @garcelle


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Originally posted at: Garcelle Beauvais’ Red Strapless Rose Jumpsuit

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RV Travel Tips for Seniors

RV travel tips for seniors

Setting out on a trip in the comfort of a recreational vehicle (RV) is an exhilarating experience, and for you, as a senior, it presents a unique opportunity to explore the world at your own pace. RV travel offers a blend of adventure, flexibility, and the comfort of a home on wheels.

As you hit the road, it’s crucial to tailor the journey to suit your specific needs, ensuring a safe and enjoyable adventure. Keep reading and discover a treasure trove of RV travel tips designed with seniors in mind. From packing essentials to route planning these insights aim to make the road ahead a smooth and memorable one for you.

General RV Travel Tips

Plan Your Route and Stops

Before hitting the road, plan your route and identify potential stops along the way. Consider factors like the distance between campsites, attractions, and amenities. This helps in efficient travel and ensures you don’t miss out on must-see destinations.

Pack Thoughtfully

Pack essentials but keep it minimal. Remember to include necessary documents, medications, and a first aid kit. Think about the weather conditions and pack clothing accordingly. Overpacking can make your RV feel cramped, so focus on the essentials.

Regular Maintenance Checks

Ensure your RV is in top-notch condition by performing regular maintenance checks. Check the engine, tires, brakes, and all fluid levels. Carry necessary tools and spare parts for minor repairs, and know how to troubleshoot common issues.

Consider joining a roadside assistance program like Roamly or Good Sam Roadside Assistance for peace of mind when on the road.

Campsite Reservations

During peak travel times, campsites can fill up quickly. Make reservations in advance to secure a spot at your desired locations. Many campgrounds offer online booking, making it convenient to plan your itinerary.

Stay Connected

Stay connected with loved ones and emergency services by having a reliable communication plan. Consider investing in a mobile hotspot or ensuring your RV is equipped with internet connectivity for navigation and communication. Starlink has a Roam option specially catered for RVs and people on the move.

Practice Campground Etiquette

Respect your fellow campers by observing campground etiquette. Keep noise levels to a minimum, follow designated rules, and properly dispose of waste. Being a considerate camper enhances the overall experience for everyone.

Safety First

Prioritize safety by adhering to speed limits, wearing seat belts, and securing items inside the RV while in motion. Familiarize yourself with the RV’s emergency procedures, including how to use fire extinguishers and emergency exits.

Health Considerations

Pay attention to your health on the road. Stay hydrated, take breaks, and incorporate physical activity into your routine. If you have specific health needs, ensure you have an ample supply of medications and access to medical facilities.

Be Mindful of Fuel Stops

Plan your fuel stops strategically, considering the distance between gas stations and the fuel efficiency of your RV. Keep an eye on your fuel gauge and fill up when needed to avoid unexpected challenges, especially in more remote areas.

Use Leveling Blocks

Ensure your RV is parked on a level surface by using leveling blocks. This not only enhances your comfort inside the RV but also helps with the proper functioning of appliances and prevents unnecessary stress on the vehicle.

Learn How to Dump and Manage Waste

Familiarize yourself with the RV’s sewage system. Know how to properly dump waste at designated dump stations, and use environmentally friendly cleaning products, like Method, to maintain the integrity of RV sewage systems and protect the environment.

Spearmint antibacterial bathroom cleaner

Spearmint antibacterial bathroom cleaner

Embrace Solar Power

Consider investing in solar panels for your RV. Solar power can be a sustainable and cost-effective way to generate electricity, especially when camping off-grid. It reduces reliance on generators and allows for a quieter and more eco-friendly camping experience.

Renogy 600W 12V General Off-Grid Solar Kit

Renogy 600W 12V General Off-Grid Solar Kit

Weather Preparedness

Stay informed about the weather conditions in the areas you plan to visit. Be prepared for temperature changes, storms, and other weather-related challenges. Carry appropriate gear, such as raincoats and blankets, to stay comfortable in various conditions.

Invest in RV-Friendly Apps

Download RV-specific apps to enhance your travel experience. These apps can help you find campgrounds, locate dump stations, plan routes, and provide real-time information on weather, road conditions, and points of interest.

RV LIFE - RV GPS & Campgrounds

RV LIFE – RV GPS & Campgrounds

RV Parky

RV Parky

RV Trip Wizard

RV Trip Wizard

Secure Your Belongings

When on the move, secure items inside the RV to prevent shifting and potential damage. Use non-slip mats, storage containers, and bungee cords to keep belongings in place. This ensures a smoother and safer travel experience.

Gorilla Grip Drawer Shelf and Cabinet Liner on Amazon

Gorilla Grip Drawer Shelf and Cabinet Liner on Amazon

Explore National and State Park Passes

If you plan to visit national or state parks, consider purchasing annual passes. These passes often provide cost savings for entry fees and campground stays, making them a valuable investment for RV travelers.

Read SENIORS GUIDE TO THE TOP 10 U.S. NATIONAL PARKS.

Document Your Journey

Capture the memories of your RV travels by keeping a travel journal, taking photos, or creating a blog. Documenting your journey not only preserves the experiences but also allows you to share your adventures with friends and family.

GoPro MAX 3 Cameras In 1

GoPro MAX 3 Cameras In 1

Here are a few YouTube channels about RVing:

Creativity RV

Robyn shares her full-time nomadic lifestyle, offering inspiration, tips, and resources for those looking to embrace RV living. Her channel is particularly encouraging for solo female travelers.

RVing Women

This channel is dedicated to women RVers. It showcases stories, travel experiences, and tips from women who enjoy the RV lifestyle. It’s a great resource for connecting with other female RV enthusiasts.

Today is Someday

Phil and Stacy share their RV journey, offering practical advice, travel tips, and personal stories.

Enjoy the Journey

RV travel is not just about the destination; it’s also about the journey. Take the time to enjoy scenic routes, explore off-the-beaten-path attractions, and savor the freedom that RV travel offers.

Connect with Fellow RVers

RV communities are known for their camaraderie. Attend campground events, engage in conversations with fellow RVers, and share experiences. You might discover valuable tips, make new friends, and enhance your overall RV travel experience.

Read our article THE BEST RV TRAVEL CLUBS FOR SENIORS.

Tips on How to Maximize Space in an RV

Multi-Functional Furniture

Opt for furniture that serves multiple purposes. For example, consider a sofa that can also convert into a bed or a dining table that can be folded when not in use. This maximizes functionality without sacrificing space.

Vertical Storage Solutions

Make use of vertical space by installing shelves, cabinets, or hanging organizers on the walls. This prevents clutter on the floor and countertops, keeping pathways clear and creating a more open feel inside the RV.

Collapsible and Stackable Items

Invest in collapsible kitchenware, stackable containers, and foldable items. This includes collapsible bowls, stackable cookware, and folding chairs. These space-saving items can be easily stored when not in use.

Collapsible Silicone Food Storage Containers at Amazon

Collapsible Silicone Food Storage Containers at Amazon

Under-Bed Storage

Utilize the space under beds for storage. Many RVs come with beds that can be lifted to reveal storage compartments underneath. Use this space for items like extra bedding, clothing, or camping gear.

Over-the-Door Organizers

Install over-the-door organizers for additional storage. These organizers can hold a variety of items, from shoes to cleaning supplies, and help keep the interior tidy.

Over The Door Hanging Shoe Organizer at Amazon

Over The Door Hanging Shoe Organizer at Amazon

Compact and Nesting Kitchenware

Choose kitchenware that is compact and can be nested together. This includes nesting pots and pans, collapsible measuring cups, and stackable dishes. It minimizes the space required for kitchen essentials.

Neoflam Midas PLUS 9pc Nonstick Cast Aluminum Cookware Set, with Smart Detachable Handle at Amazon

Neoflam Midas PLUS 9pc Nonstick Cast Aluminum Cookware Set, with Smart Detachable Handle at Amazon

Utilize Ceiling Space

Install hooks or hanging storage from the ceiling for items that are used less frequently. This could include lightweight items like hats, outdoor gear, or even a hanging fruit basket in the kitchen.

Folding Tables and Chairs

Consider using folding tables and chairs for dining. This allows you to create a dining space when needed and easily store the furniture away when not in use, freeing up valuable floor space.

Wall-Mounted Devices

Mount devices such as TVs, speakers, or monitors on the wall to save countertop or floor space. This also provides a clean and streamlined look inside the RV.

Sliding or Pull-Out Storage Trays

Install sliding or pull-out storage trays in cabinets to make accessing items at the back easier. This eliminates the need to rummage through deep cabinets to find what you need.

Compact Appliances

Choose compact and multi-functional appliances for the kitchen. For example, a combination microwave and convection oven or a two-in-one washer/dryer can save space while still meeting your needs.

Mirror Illusion

Strategically place mirrors inside the RV to create an illusion of more space. Mirrors reflect light and make the space feel larger and more open.

Rolling Storage Bins

Use rolling storage bins under tables or in closets for easy access to stored items. These bins can be pulled out when needed and pushed back in when not in use.

Digital Media Storage

Consider storing books, movies, and music digitally instead of carrying physical copies. This reduces the need for bookshelves or storage cabinets dedicated to media.

Kindle e-reader at Amazon

Kindle e-reader at Amazon

Minimize Redundant Items

Assess your belongings and eliminate duplicates or items with similar functions. Having one multipurpose tool is often more efficient than carrying multiple single-use items.

Organize Cables and Wires

Keep cables and wires organized using cable ties or organizers. This reduces clutter and makes it easier to manage electronic devices without them taking up unnecessary space.

Use Vacuum-Sealed Bags

Vacuum-sealed bags are a great way to compress clothing and bedding, maximizing storage space in closets or under beds. These bags are particularly useful for seasonal clothing.

Spacesaver Vacuum Storage Bags at Amazon

Spacesaver Vacuum Storage Bags at Amazon

Fold Clothes Efficiently

Learn space-efficient folding techniques for clothes, such as the KonMari method. Neatly folded clothes take up less space and are easier to organize in drawers or storage compartments.

Lightweight and Compact Furniture

Opt for lightweight and compact furniture options. This not only makes it easier to rearrange the interior but also reduces the overall weight of the RV, potentially improving fuel efficiency.

Create Zones in the RV

Define specific zones for different activities, such as dining, sleeping, and working. This helps in organizing the space and ensures that each area serves its purpose efficiently.

Regular Decluttering

Periodically assess your belongings and declutter unnecessary items. RV living requires a minimalist mindset to maintain a comfortable and organized space. Regular purging prevents the accumulation of excess items over time.

By implementing these space-saving strategies, you can optimize the interior of your RV, creating a more functional and comfortable living space for your travels.

Remember, RV travel is a customizable adventure, and these tips can be adjusted to fit your preferences and unique travel style. Safe travels!

Read 9 ICONIC USA ROAD TRIPS FOR WOMEN OVER 50.

Also read WHAT TO WEAR ON A ROAD TRIP – OUTFITS TO INSPIRE YOU.

Let’s Have a Conversation:

Do you own or rent an RV? What are your tips for traveling and living in an RV? Are there any special places you have visited that you would recommend to others? Tell us about it in the comments below.

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10 Top Caribbean Destinations for the Over 50 Traveler

10 Top Caribbean Destinations for the Over 50 Traveler

Do you have a Caribbean island on your bucket list? Have you been to a part of the Caribbean and now want to discover more? The Caribbean is a region of breathtaking beauty, vibrant culture, and rich diversity. The region consists of a vast expanse of islands, cays, and coastal territories scattered across the Caribbean Sea and is known for its azure waters, beautiful beaches, and lush landscapes.

Whether you’re planning a solo trip, a romantic getaway, or an adventure with friends, the Caribbean offers a variety of destinations tailored to your preferences. 

Here, we present some of the top Caribbean destinations perfectly suited for over 50 travelers.

  • Barbados – Known for its luxurious resorts, charming colonial architecture, and friendly locals, Barbados is a haven for mature travelers. Explore historic Bridgetown, relax on the powdery sands of Crane Beach, or indulge in delectable Caribbean cuisine at Oistins Fish Fry.
  • St. Lucia – With its lush rainforests, iconic Pitons, and therapeutic hot springs, St. Lucia provides a tranquil retreat for those seeking relaxation and revitalization. Don’t miss the chance to take a sunset cruise along the coastline or hike to the summit of Gros Piton for breathtaking views.
  • Turks and Caicos – Renowned for its crystal-clear waters and world-class diving sites, Turks and Caicos offers a quiet escape for mature travelers. Spend your days snorkeling among colorful coral reefs, strolling along Grace Bay Beach, or unwinding at a luxury spa resort.
  • Antigua and Barbuda – Made up of 365 beaches (one for every day of the year), Antigua and Barbuda captivates visitors with its natural beauty and laid-back atmosphere. Explore historic Nelson’s Dockyard, go on an island tour, or simply bask in the sun on secluded beaches.
  • Grenada – Known as the “Spice Isle” for its fragrant nutmeg and cinnamon plantations, Grenada entices travelers with its beautiful landscapes and rich cultural heritage. Discover the colorful markets of St. George’s, hike through the Grand Etang National Park, or sample authentic Caribbean cuisine at local eateries.

Keep reading to discover the complete list of Caribbean destinations perfect for travelers over 50.

How to Choose a Caribbean Destination 

Choosing the perfect Caribbean destination for travelers over 50 involves considering several factors to ensure a safe and enjoyable experience. 

Travel Preferences

Start by considering your travel preferences. Do you prefer relaxation on quiet beaches, cultural immersion in busy cities, or adventurous activities like hiking and diving? Identifying your preferences will narrow down your options and help you choose a destination that aligns with your interests.

Accessibility

Consider the accessibility of the destination. Are you looking for a short flight, or are you willing to travel further for a more secluded experience? Factor in travel time, ease of transportation, and any mobility issues that may affect your ability to explore the destination.

Accommodation Options

Research the accommodation options available in each destination. Are you looking for a luxury resort, a cozy boutique hotel, or a budget-friendly option? Consider factors such as amenities, proximity to attractions, and accessibility features that may cater to the needs of mature travelers.

Safety and Security

When choosing a destination, prioritize safety and security. Research the crime rate, healthcare facilities, and any travel advisories issued for the area. Opt for destinations with a reputation for safety and where you feel comfortable exploring independently.

Climate and Weather

Consider the climate and weather patterns of each destination, especially if you have specific preferences or health considerations. Choose a time of year when the weather is favorable, and be mindful of hurricane seasons in the Caribbean.

Activities and Attractions

Research the activities and attractions available in each destination. Look for cultural landmarks, historical sites, natural wonders, and recreational activities that cater to mature travelers. Consider whether the destination offers a good balance of relaxation and adventure.

Local Culture and Cuisine

Explore the local culture and cuisine of each destination. Consider whether you’re interested in experiencing authentic Caribbean culture, trying local dishes, and participating in cultural events or festivals.

10 Caribbean Destinations for Over 50 Travelers

From the shores of Barbados to the rich culture of Jamaica, the Caribbean offers an abundance of experiences for travelers over 50. Whether you’re seeking relaxation, adventure, or cultural immersion, these 10 destinations promise to make your Caribbean getaway truly unforgettable. 

Barbados

Barbados

Renowned for its opulent resorts that epitomize luxury living, Barbados tempts mature travelers with its captivating blend of refined elegance and laid-back charm. 

Admire the colonial architecture that whispers tales of a bygone era as you wander through the quaint streets of historic Bridgetown. Feel the soft sands beneath your feet as you unwind on the shores of Crane Beach, where the azure waters stretch endlessly before you.

No visit to Barbados is complete without a culinary journey through the flavors of the Caribbean at Oistins Fish Fry, where the tantalizing aromas of freshly grilled seafood mingle with the rhythmic beats of local music, creating an unforgettable sensory experience. 

St. Lucia

St. Lucia

St. Lucia is a sanctuary for weary souls yearning for renewal and solace with its rainforests and iconic Pitons. Explore the lush forests, where cascading waterfalls and exotic wildlife abound. Surrender to the healing embrace of therapeutic hot springs, where mineral-rich waters gently caress you, washing away the cares of the world.

Go on a sunset cruise along the island’s coastline, where the fiery hues of twilight dance upon the the Caribbean Sea. For the adventurous spirit, a hike to the summit of Gros Piton promises a journey to the heavens, where panoramic vistas of emerald forests and sapphire seas unfold before your eyes.

Turks and Caicos

Turks and Caicos

Turks and Caicos, with its crystalline waters and renowned diving sites, emerges as a sanctuary for travelers seeking serenity and adventure. Delight in the wonders of the underwater world as you snorkel among vibrant coral reefs teeming with marine life. Take leisurely strolls along the shores of Grace Bay Beach, where sugary sands meet the gentle lapping of turquoise waves.

For those yearning for ultimate relaxation, indulge in the luxurious offerings of a spa resort, where skilled hands and soothing aromas transport you to a state of blissful repose. 

Whether you choose to lounge poolside with a tropical cocktail in hand or explore the hidden treasures of the island, Turks and Caicos invites you to embrace the rhythm of island life and savor each moment in paradise.

Antigua and Barbuda

Antigua and Barbuda

With a staggering 365 beaches—one for every day of the year—Antigua and Barbuda captivates with its abundance of natural splendor and relaxed ambiance. Wander the cobbled streets of historic Nelson’s Dockyard, a UNESCO World Heritage Site, that stands as a testament to the island’s seafaring heritage and colonial past.

For those with a thirst for exploration, go on a scenic island tour, where panoramic vistas of emerald hillsides and turquoise bays unfold before your eyes, offering glimpses of hidden coves and secret hideaways. Or, simply surrender to the allure of sun-kissed shores as you bask in the warmth of the Caribbean sun on secluded beaches. 

Grenada

Grenada

Grenada, affectionately dubbed the “Spice Isle” for its abundant nutmeg and cinnamon plantations, casts a spell on travelers with its beautiful landscapes and vibrant culture. Discover the bustling energy of St. George’s, where the colorful markets burst with the sights, sounds, and scents of the Caribbean. Lose yourself amid stalls brimming with exotic fruits, aromatic spices, and handmade crafts as friendly vendors regale you with tales of island life and tradition.

For those craving adventure, lace up your hiking boots and venture into the heart of Grand Etang National Park, where emerald forests and mist-shrouded peaks await. Trek through ancient trails adorned with lush foliage and sparkling waterfalls, pausing to admire the variety of flora and fauna that call this tropical paradise home.

And no visit to Grenada would be complete without indulging in the island’s culinary delights. Sample authentic Caribbean cuisine at local eateries, where fragrant spices and fresh ingredients come together. From savory seafood dishes to fiery jerk chicken, every meal is a celebration of Grenada’s rich cultural heritage and culinary prowess.

Jamaica

Jamaica

Jamaica, pulsating with the rhythms of reggae music and adorned with the majestic beauty of Dunn’s River Falls, invites travelers with its captivating fusion of natural wonders and cultural treasures. 

Feel the soul-stirring beat of reggae music permeate the air as you sway to the rhythm of the island’s heartbeat, losing yourself in the infectious energy of Jamaica’s musical legacy.

For moments of relaxation, surrender to the soothing embrace of a beachside massage, where the gentle lull of the waves provides the perfect backdrop for blissful indulgence. 

Delight your senses with the tantalizing flavors of jerk chicken sizzling on the grill at a beachfront shack, where the aroma of spices mingling with the salty sea air creates a culinary experience like no other.

Dominican Republic

Dominican Republic

The Dominican Republic, offering some of the Caribbean’s most luxurious yet affordable resorts, extends a warm invitation to travelers with its beautiful beaches, rainforests, and lively cultural scene. 

Wander the cobblestone streets of Santo Domingo, the oldest city in the Americas, where colonial architecture and vibrant street life converge to create a captivating blend of old-world charm and modern energy.

For those seeking outdoor adventure, tee off at world-class golf courses located amid lush landscapes, where emerald fairways and azure skies provide the perfect backdrop for an unforgettable round of golf. 

Or, for the thrill-seekers, go on a zipline adventure through the jungle canopy, soaring high above the treetops and taking in panoramic views of the lush rainforest below.

St. Kitts and Nevis

St. Kitts and Nevis

St. Kitts and Nevis, adorned with unspoiled landscapes, colonial allure, and a storied history, present a tranquil haven for mature travelers seeking respite and enrichment. 

Discover the timeless allure of the UNESCO-listed Brimstone Hill Fortress, where ancient stone walls whisper tales of battles won and lost, and panoramic vistas stretch as far as the eye can see.

For those yearning for adventure, lace up your hiking boots and go to the rainforest, where hidden trails lead to secluded waterfalls cascading into crystal-clear pools, inviting moments of serene reflection and communion with nature’s splendor. 

Or, for a more leisurely escape, surrender to the soothing rhythm of the waves as you recline on the shores of Pinney’s Beach, where sugary sands and swaying palms create the perfect backdrop for lazy days spent basking in the warm Caribbean sun.

Bahamas 

Bahamas 

Spanning over 700 islands and cays, the Bahamas emerges as an unparalleled paradise for aficionados of sun, sea, and adventure. 

Explore the mesmerizing depths of the Exuma Cays Land and Sea Park, where crystal-clear waters teem with marine life and coral reefs inviting divers and snorkelers to discover a world of underwater wonders.

For a truly unique experience, take a dip with the famous swimming pigs at Pig Beach, where friendly porcine residents frolic in the turquoise shallows, creating unforgettable moments of whimsy and wonder. 

And when it’s time to unwind, retreat to the luxurious comforts of a beachfront resort in Nassau, where soft sands and blue waters provide the perfect backdrop for lazy days spent lounging in the sun and indulging in the island’s legendary hospitality.

Aruba

Aruba

Basking in year-round sunshine and beautiful beaches, Aruba emerges as a favored destination for discerning travelers seeking the perfect blend of relaxation and adventure. 

Discover Oranjestad’s colorful streets, where colonial architecture and modern charm coalesce, offering a feast for the senses and a glimpse into the island’s rich cultural heritage.

For those craving underwater exploration, plunge into the depths and discover a world of wonder as you snorkel among ancient shipwrecks and coral reefs, where colorful marine life thrives amidst the submerged treasures of the Caribbean Sea. 

And as the day draws to a close, surrender to the serenity of Eagle Beach, where golden sands and swaying palms provide the ideal setting for a sunset yoga session, allowing you to unwind and reconnect with the rhythm of the island.

Let’s Have a Conversation:

Have you been to any of these Caribbean destinations? What part of the Caribbean is your favorite? Are you planning a trip to a Caribbean island? Tell us about it in the comments below.

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5 Ways You Might Be Paid When You Sell Your Business

5 Ways You Might Be Paid When You Sell Your Business

THE Day is finally within sight. That is, the day you sell your business. It’s not here yet, but it’s getting closer and when you allow yourself to dream, you will wonder, “So how do I actually get paid?”

Most of us dream of a big lump sum when the exit day arrives, but this very rarely happens. A buyer wants to minimize her risk that future business results are not what was hoped for. Thus, she wants to pay as little upfront as possible. Instead, a buyer will typically pay you in one (or a combination) of these five ways:

Lump-Sum Payment

You want at least a portion of the sale price in a lump sum and that’s fine. While this approach may be the most appealing to you, there are two drawbacks. First, it might be tax inefficient. Second, it may provide the lowest total payment.

A Note You Carry

With this approach, the buyer makes regular monthly payments to you, including interest, over several years. This helps spread out the tax burden for you and provides a steady income stream. The downside is it takes time for the new buyer to pay off the note and this introduces risk for you. What happens if the new owner can’t make the business a success? What if the new owner defaults on payments?

If you’re considering a note as a part of your payment plan, you must perform detailed due diligence on the buyer to ensure she will be able to run your business and make payments. Additionally, you must ensure your business attorney writes the purchase/sale agreement with contingencies if the buyer fails to make a payment.

Earn-Out Agreement

Often, a buyer will make a purchase contingent on the business achieving certain financial targets or milestones after the sale. This aligns the interests of the buyer and you and may result in a higher purchase price. However, this also adds risk for you.

Through no fault of yours, the business may not reach the goals upon which you and the buyer agreed. As with a note used as part of the purchase price, you must make certain your business attorney creates an iron-clad purchase/sale agreement to protect your interests.

Equity in the Buying Company

If your business is large enough and the buyer is big enough, you might receive shares or an ownership stake in the buyer’s company along with a lump sum payment. This allows you to benefit from the future growth of the new entity, but again, introduces business risk in the final value you receive from your company. You must have a purchase/sale agreement that explicitly details terms and conditions.

Consulting Agreement

You could also agree to stay on as a consultant for a defined period, receiving compensation for your services. This can help ensure a smooth transition and provide additional income. If this is a route you take, you’ll need to spell out your role and duties clearly as part of the purchase/sale agreement.

Most business sales occur with a combination of these approaches. For example, a deal might include a lump-sum payment, an earn-out, and a consulting agreement. When I sold my business to two different buyers, I received a combination of payment methods including lump sum payments, a note with 60 installment payments and a five year earn-out.

Each of these methods has its own advantages and disadvantages, such as tax implications, risk levels, and your future involvement with the business. You need to collaborate with a financial advisor, business attorney, and accountant to structure the deal in a way that meets your goals AND the goals of the buyer.

Let Yourself Dream a Little:

Have you thought about how you would prefer to be paid out when you sell your business? What do you see as the best and least desirable approach? Please comment below. Also, if you have questions about these options, please include them below and I’ll be happy to answer them.

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