By Noah B. Rosenfarb, 3rd Generation CPA & Founder of Wealthrive.com
Ron Rose was always a free spirit. From the time he was a toddler, he seemed drawn to anything with wheels and motion. At just three years old, during a family picnic, he wandered off and was eventually found in a parking lot, straddling a stranger’s motorcycle, helmet askew, making “vroom, vroom” sounds. His parents, Dan and Ann, would later laugh about it—though not until well after the initial panic had faded.
As he got older, Ron’s wanderlust only intensified. He roamed his neighborhood on his bike, rarely making his curfew. School never suited him—he was too restless to sit still, too curious about the world beyond textbooks and classrooms. After a short stint at a local university, Ron dropped out and headed west, spending his winters skiing around Boulder and picking up odd jobs—hotel maid, busboy, you name it—to make ends meet.
Back home in South Florida, Dan and Ann were building a steady, personal business: Rose Drugs, a mom-and-pop pharmacy that managed to hold its own against growing competition from national chains. Ron worked there occasionally between trips—surfing in Central America, backpacking in the Pacific Northwest, eventually meandering through Europe. This was the pre-internet era, so his updates were sporadic and scratchy, often coming in the middle of the night from places like Portugal or Pakistan.
But everything changed in Israel. On a kibbutz, Ron met and fell in love with Uschi, a Swiss traveler. They had twins—Jared and Eden—and Ron, the family drifter, came home to stay. He returned not just with a backpack, but with responsibilities. With no real marketable skills and a family to support, Ron joined the family business full-time.
Those first few years were rocky. Ann could tell Ron struggled with domestic life. But slowly, he found ways to turn the mundane into something meaningful. He reimagined the store’s old soda fountain as a cozy coffee nook, complete with travel posters and reading materials. He brought his eclectic charm to the counter, connecting with customers from all walks of life. Rose Drugs began to feel like the heart of the community—and Ron was at its center.
As Dan and Ann reached their late 60s, they felt proud watching Ron grow into his role. They were ready to retire but unsure of the best way to hand off the business. They wanted Ron to take over, but they also needed to secure their own future—particularly since Dan had caught the flying bug and was eager to spend more time in the air.
That’s when they met with Kyle and Noah to explore their options.
The first step was making sure Dan and Ann had a sound estate plan. Then, using the store’s tax returns, Kyle and Noah estimated the business value at around $2 million. The real estate—the building and land—was worth another $2 million. With another $1 million in assets and a mortgage-free home valued at $350,000, Dan and Ann were in good shape. But they had questions.
“We want to be sure we can maintain our lifestyle and continue to make gifts to our church,” Dan said. “But if we transfer the business to Ron, we don’t know if we’ll have enough money to support ourselves.”
“And Ron can’t really afford to buy the store from us,” Ann added. “But we’re confident he can support his family with it.”
Noah and Kyle ran the numbers. The Roses lived modestly, spending about $90,000 a year. They didn’t splurge on luxury cars or fancy vacations. Based on their lifestyle and assets, Kyle and Noah determined they could safely give Ron the business outright.
“But,” Noah suggested, “we recommend you lease the store’s building to Ron on a long-term basis. That lease income can help fund your retirement—and eventually, he’ll inherit the property through your estate.”
The Roses loved the idea. It allowed them to step back without sacrificing security and gave Ron ownership without a burdensome purchase. It was a win for everyone.
“I think Ron will be really happy about this,” said Dan, smiling.
Ann agreed. “And I get to spend time with my grandchildren without having to traipse all over the world!”
In the end, the prodigal son didn’t just return—he brought his spirit of adventure into the heart of the family business and helped it thrive in a new era. With the right planning, Dan and Ann ensured their legacy would live on through Ron—and one day, perhaps, through Jared and Eden too.
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