Perennial Pride

Today, Tom shares different ways to safeguard your assets while accumulating wealth AND during the distribution and transfer of wealth to the next generation. Tune is to hear more about reducing the impact of negative things on our wealth. Highlights 00:33 Parents are always worried about our kids' safety and ensuring that they get the right education 02:09 Some general topics around how we safegu...

Joining today is another fellow IBC practitioner Monica Felton who specializes in utilizing your family bank to pay for college. College is getting very expensive causing many families to question the value of it. Tom and Monica are big believers in investing in ourselves and getting education but still need to make smart decisions, especially ones that could impact parents' ability to retire. Tun...

Human behavior can be both a benefit or hindrance. In the book "Becoming Your Own Banker" by R. Nelson Nash, he teaches you how to create the right financial habits and elaborates on the two human behaviors that might hold us back from becoming our best and building wealth. First, The Arrival Syndrome - where we stop learning because we think we know everything and second, Parkinson's Law - spendi...

Today, Tom and EJ Fernandez of Ed James Insurance Brokerage talk about creating the lives we want and determining how your business/work can fit in and support it. People often think our work is our life and it becomes the center of who we are and what people associate with us. It's a major part, but not the only part that defines us. There are two financial paths one can go down: Protection or we...

Do you know the difference between saving, investing, and gambling? While saving and investing are co-mingled, they are really just a form of gambling. In this case, gambling is defined as taking a risky action in the hope of a desired result. Saving doesn't provide much return so people feel the need to invest or even worse gamble. Most people aren't saving much, they invest before saving (think...

Tom is joined by Kevin Micinilio, an Independent Insurance Agent who helps business owners make sure they are protected from the unexpected. They talk about the importance of commercial insurance and what exposures most people don't cover but should. How prepared are you for when it doesn't go right? Highlights 01:30 How Kevin got started with commercial insurance 06:20 Helping clients in real est...

In today's episode, Tom talks through various definitions of freedom and they relate to our financial lives. He shares how the "system" is set up to control more of our wealth and we need to be more aware of what is happening in banks, financial institutions, and government. Listen in to learn how to get freedom from banks and taxation by investing in things you can control and own. Highlights 00:...

Joining Tom on today's episode is estate planner Jim Burch. During this episode, Tom and Jim talk about how society has come to rely on the government more than ever for benefits, security, and financing. Death is a certainty, but the timing of it is not. Tune in to learn more about the basics of estate planning and how easy it can be to get something started. Highlights 01:33 How he started with...

With it still being early into the year 2023, Tom talks about how it's a good time of year to assess various areas of your financial life: Savings, growth, debt, cash flow, etc. Tom shares how he feels it's always prudent to think that things could change for the worse.  It's important to focus on what you can control, what you can influence, and what you cannot control. Tune in to listen as Tom e...

In today's episode, Tom is joined by Dave Zook from The Real Asset Investor as they discuss his entrepreneurial background and how it led him to have a $500K tax bill from his business. This pushed him to explore how others were reducing their tax bills which in turn got him into the Real Estate Multi-Family space. We are living in a crazy economic world with a threat of recession coming. Watch an...

Today, Tom talks about the different ways Whole Life Insurance is a benefit for those concerned with taxes. The history of the tax code and how it's ballooned to thousands of pages makes it so that no one can read and understand the whole thing. It's important to reinforce the need to understand the tax code as a set of incentives; one being to protect our families so the government doesn't have t...

As Ben Franklin said, "Nothing is certain except death and taxes." In this episode, Tom shares two models that will help you think through a different approach to building financial freedom. How you use your dollars to maximize your life and create freedom, requires taking the necessary steps and assessing what you're currently doing. What are you doing today to build cash flow now to live the lif...

Tom is joined by cybersecurity expert Joe Vitti as they talk about the importance of having the "defensive" side of our lives in a place that helps solidify our foundation of wealth building. In our very connected, tech-heavy world, the exposure is growing in diversity and size. It's important to own the responsibility and take steps to protect your assets. Listen to hear recommendations on how to...

Nothing is permanent, except change. We may have the best laid-out plans but what would happen that could change that? In today's episode, Tom focuses on what stops people when it comes to changing their worries about what could happen. What if I can't make the premium contribution to my Family Bank? There are multiple options at your disposal such as using cash value to create assets that bring y...

Tom is joined today by fellow IBC practitioner Brandon Jenkins of Tier One Life Insurance where they talk about their shared values, core principles, and building the right habits and mindset in life. Continuously learning and focusing on what you can control combined with good habits, align with IBC and how it can be used with real estate and business. Control and freedom in life come from focusi...

When the Powerball hits all-time highs, do you run and grab a few tickets with the hopes of "Maybe I'll get lucky this time"? It's fun to think about, but not a reality as the odds are never really in your favor. Conversely, it's not the most fun exercise to think about a certainty (dying) and what that might mean financially. Most don't talk about it or prepare for it. Did you know there are many...

Many people spend countless hours at jobs they dislike, however, it's where they likely spend the most time during their lives. Tom shares how getting your resources and assets to do as many jobs as possible will bring your great wealth. He demonstrates how an IBC policy with real estate can have your dollars do more than ten jobs with the same dollars. It's important to think of your assets diffe...

Regret is something that can keep you up at night. Tom listens as his client Michael Glatts talks about his history and transition from corporate America to start his own innovation business. He had to ask about Fear of Failure or Fear of Regret. He didn't want to have any regrets in his life. They talk about how empowerment requires you to take some risks and how people can find their passion and...

To turn negatives into positives - perception is everything. In any given situation, perception can cause you to go into fear or conversely, can be seen as a tremendous opportunity to grow and learn. From a financial perspective, the fear of the unknown can cause many to do nothing and thus miss out on potentially awesome opportunities. Tom shares his thoughts on fear vs empowerment and how can tu...

Joining Tom Today is Erika Baldino, a title expert who helps to protect a family's biggest asset - their house. They dive into why it's important to protect the past history of the asset as it exchanges ownership. You have to know what you own and protect your future and your foundation - just like a house. Erika shares about 1030 exchanges of real estate investments so you can defer the taxes on...

Tom shares how to look at good vs bad debt and how it can be used wisely to grow our wealth. Banks and other financial institutions do this, so why can't we? Many investors use their assets for collateral to borrow again. Get your dollars to do more than one job to help you towards ultimate freedom and control. Listen in to hear a different perspective on how borrowing money can accelerate your we...

In today's episode, Tom and Estate Planning expert Rick Randall chat about why some people don't get their estate plans put together and the myths around estate planning. They further discuss the power of trust to help ensure assets are passed efficiently to the next generation and how to reduce the costs of the probate so your family gets to keep more. The majority of people don't have an estate...

Today, Tom shares his journey into real estate investing through his own family bank. He talks about the progress and what he learned along the way. He focused on the fact it's about the journey, not the destination. Through his family bank, he had the immediate cash flow to get involved with an experienced investor. It took him getting to a level of comfort before he felt confident to begin inves...

In today's episode, Tom talks about something near and dear to his heart: Preparing our families for the final phases of life. How do we transfer wealth efficiently to the next generation? He talks about the fundamental concepts, building blocks, and key principles to begin your steps to creating generational wealth. Highlights How can you prepare your beneficiaries for the wealth that they'll rec...

In this last part of the "Wealth Beyond the Numbers" series, Tom focuses on what a positive mindset can do for you. He elaborates on the need to harness your own talents and how having the right mindset, the willingness to learn, and recognizing that encounters with others, can help benefit you and them. Tom ties all these things together in how it relates to your finances and control of your free...