Opening a bike shop let this couple turn their passion into a new career.
PROFILE
WHO: Diane Cutler, 53, interviewed, and Andy Zivinsky, 47
WHERE: Bryson City, N.C.
WHAT: Owners, Bryson City Bicycles
Why open a bike shop?
We are lifelong bicyclists. I rode across the U.S. when I was 20, and Andy was an accomplished BMX racer as a kid. Andy had mechanical prowess and friends who owned a bike shop, so he thought a shop would work. I was against it. I’d been in bike shops my whole life, and I was never treated with respect. It was a “boys’ club” kind of thing. But Andy said we could be inclusive.
How did you pick Bryson City?
People come to western North Carolina from all over the world to visit the Great Smoky Mountains National Park and for worldclass mountain biking in the Tsali Recreation Area. But Bryson City didn’t have a bike shop. In 2008, we visited and realized it could be the place.
This story is from the July 2018 edition of Kiplinger's Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2018 edition of Kiplinger's Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
Strategies for Novice Investors
AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.
SHOULD YOU BUY THESE RED-HOT FUNDS?
Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.
