The five-year fallacy explores why Canadian business owners who choose to keep running their companies instead of selling today may be leaving millions of dollars on the table. Through a practical example of a manufacturing business owner considering a $8.8 million exit, this podcast challenges the common belief that holding on for five more years will automatically create greater wealth. Discover the hidden financial factors that can make waiting to sell a costly decision, including the difference between EBITDA and actual cash flow, capital gains tax advantages, the Lifetime Capital Gains Exemption, the time value of money, and the risks of declining earnings or unexpected business disruptions. The discussion also examines the tax implications of salary versus dividends and the often overlooked personal cost of dedicating five more years to running a business. Whether you're preparing for retirement, considering a business sale, or exploring your succession options, this podcast will help you evaluate your exit strategy with a clearer financial perspective. Learn how to compare the value of selling today against the risks, rewards, and opportunity costs of holding on, so you can make informed decisions about your business and your financial future.