Have you ever watched Gordon Ramsey’s Kitchen Nightmares? It’s actually one of Michael’s favourite shows, and he sees many similarities between failed retirement plans and failed restaurants. On the other hand, successful restaurants have a lot in common with successful retirement plans.
If you haven’t seen the show, it’s about Gordon Ramsey, the famous chef, visiting restaurants who have contacted him for help. In each episode, he gives strategies to help the owners turn their failing restaurants around.
Of course, while Michael can see the similarities between restaurants and retirement plans, he would never speak to his clients the way Gordon Ramsey sometimes does… Michael has something of a softer approach!
Like many of the clients we see at Money Over 50, these restaurants are not necessarily failing – they’re just not quite as good as they could be. Ramsey helps the restaurants run to their full potential in the same way we help our clients make the most of their financial strategies.
Here are the most common mistakes shared by failing restaurants and retirement plans.
If you’re keen to learn more, make an appointment with us – we love free money. And we don’t yell like Gordon.
Listen to the related podcast here!
Dallas Davison, Michael Hogue and Ali Hogue.