(video) What happens after you sell your accounting firm?

Nothing is more satisfying than hearing a great story from a client that is making their dreams a reality after the sale of their accounting firm. We recently got an email update from Ron Mosocco who sold his Virginia based CPA firm just last year. Ron wasted no time to start his next chapter. Not only did he sell his practice, but he sold his house too! That’s right he’s homeless…sort of. The Mosoccos are making their travel dreams a reality. Here’s an excerpt from the recent email exchanges we had.  (Shared with Ron’s permission of course.)

 

Life is going well for us.

Actually, our home sale closes today so we no longer have a home.

We will spend a little time in the Williamsburg area (for regular doctor checkups, oil changes/auto servicing, etc.) with many friends/old business acquaintances in the area.

 

Right now, we are at the beginning of a 2-month tour through Canada, currently in the UNESCO Town of Lunenburg, Nova Scotia. We started in New Brunswick, touring around the island of Nova Scotia before we take the 6-hour ferry ride to Newfoundland, back and then to Prince Edward Island before finishing up with stays in Quebec City, Montreal and Ottawa over to Detroit Michigan.

From late July to late November we will be vacationing in the western states of N/S Dakota, Wyoming, Montana, Utah, Colorado, Idaho.

 

From there we will be spending December on North Andros Island, Bahamas (bone fishing capital of the world), January in Cozumel, Mexico, and February on the Pacific Ocean, Costa Rica.  We love Airbnb and Booking.com.

 

As of a few weeks ago through my immigrant Italian grandfather, we were able to obtain dual citizenship with Italy, which has been extended to myself, my wife, daughter and grandchildren. We can now live in Italy as citizens and in fact any country in the Euro Zone.

 

Retirement has reduced/eliminated that stress level, I am eating better and getting the exercise one’s body needs. Since March I have dropped 35 pounds and both Doris & I have a great outlook on life.

 

Needless to say, Ron has been really happy with his decision to sell.  He was also happy with his experience with our team and agreed to share his journey to transition out of his firm on video.

 

 

 

 

Again, we love hearing how our clients are doing after the sale, and we love when our sellers are pursuing their dreams and passions away from the office.

 

 

About the author: Brannon Poe is the founder of Poe Group Advisors and has been facilitating successful accounting practice transitions since 2003. Brannon started his career in public accounting as an auditor with Ernst & Young before working for several years in auditing and tax preparation for the regional firm of Elliott, Davis & Company. He is the author of “Accountant’s Flight Plan: Best Practices for Today’s Firms” (published by the AICPA and CPA Canada), “On Your Own: How to Start Your Own CPA Firm,” as well as multiple blogs and the “Accountant’s Flight Plan” podcast.