Perennial Pride: Recent Episodes
Tom Suvansri
Tom Suvansri is passionate about protecting and growing his family’s wealth and he shares how you can do it too. In this show, you will learn strategies that leverage economic principles in order to achieve increased financial control, cash flow, and tax advantages that last generations. It’s time to eliminate uncertainty and create wealth strategies to build a family legacy.
Executive Summary
If you're a business owner maxing out your 401(k), SEP, or IRA and still facing a growing tax bill, there's a whole category of retirement planning you're probably not hearing about. In this episode, Tom breaks down cash balance and defined benefit plans, tools originally built for large corporations that business owners can now design, own, and control for themselves. It's not a full technical deep dive, it's a lens to help you ask better questions of your current advisors.
Key Takeaways
- If you've maxed out your 401(k), SEP, or IRA, ask your advisor whether a cash balance or defined benefit plan could let you defer three to five times more each year.
- Treat any new deferral strategy as exactly that, a deferral, and start planning now for how you'll draw those dollars out tax-efficiently down the road.
- Loop in your CPA, investment advisor, and attorney together before adopting a cash balance plan so it's coordinated with your broader tax and income picture, not built in isolation.
- Business owners with inconsistent revenue should ask specifically about flexible plan designs built for variable income.
- Attorneys, physicians, and anyone running a side business should not assume these strategies are off limits, they can apply to you too.
Links & Resources
- Perennial Pride (Website): https://perennialpride.com/
- Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, cash balance plan, defined benefit plan, retirement planning for business owners, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, tax strategy for business owners, high income tax planning, proactive tax planning, tax mitigation, retirement income planning, coordinated wealth strategy, deductions vs reductions, take control of your finances, pension plan for small business
Episode Highlights
[00:00:00 - 00:01:22]
Tom introduces retirement and transition planning for business owners and successful professionals.
[00:01:23 - 00:02:59]
Most retirement advice is structured for W2 workers, not business owners.
[00:03:00 - 00:04:13]
Business owners maxing out a 401(k), SEP, or IRA still hit a ceiling.
[00:04:14 - 00:05:51]
Tom explains what cash balance and defined benefit plans are and where they came from.
[00:05:52 - 00:07:02]
Business owners could defer three to five times more than a SEP allows, depending on age.
[00:07:03 - 00:07:51]
Plans can be designed around future healthcare costs and to hold assets like life insurance.
[00:07:52 - 00:09:06]
A cash balance plan has to be coordinated with the rest of your financial picture.
[00:09:07 - 00:09:51]
These deferrals aren't permanent, taxes are owed when the money is eventually used.
[00:09:52 - 00:10:37]
Tom debunks the myth that pension-style plans only exist for big corporations.
[00:10:38 - 00:11:24]
Business owners can take the deduction while owning and controlling their own plan.
[00:11:25 - 00:12:46]
Why coordinating your CPA, investment advisor, and attorney matters here.
[00:12:47 - 00:13:39]
How consistent versus inconsistent business income affects plan flexibility.
[00:13:40 - 00:14:46]
Retirement income planning means coordinating taxable and tax-free assets together.
[00:14:47 - 00:16:02]
Attorneys, physicians, and side business owners may be eligible too.
[00:16:03 - 00:17:21]
Why many CPAs never raise this option with their clients.
[00:17:22 - 00:18:56]
Tom reframes the strategy as simpler than it sounds once you ask the right questions.
[00:18:57 - 00:20:02]
Tom invites listeners to explore further and reach out to the Perennial Pride team.
[00:20:03 - 00:21:12]
Closing message and where to find more from Tom and Perennial Pride.
Summary
Tom opens this episode with a question most successful business owners avoid: what happens to everything you've built after you're no longer here to manage it. He explains that a trust isn't really a legal document, it's a structure, a set of intentional decisions about who receives your assets, when they receive them, and how much control they have. He breaks down the basic split between revocable and irrevocable trusts, the control-versus-protection trade-off that comes with each, and why one of the biggest myths, that trusts are only for the very wealthy, keeps people from planning years before they actually need to.
He also digs into why estate plans so often go stale. People set up a will or trust once, life moves on, the business grows, the family grows, and the plan never gets revisited. Tom connects this to a deeper problem: estate planning, tax planning, and investment management typically happen in separate silos, with no one architecting how they work together. Using the analogy of building a home, where you wouldn't let the electrician, the plumber, and the HVAC crew all work without a blueprint, Tom makes the case for a coordinated approach, one that matters even more for business owners who also have succession and buy-sell decisions riding on the plan.
Key Takeaways
- Review your estate plan now. It's not just for people who are older or wealthier, it's for anyone building toward something.
- Understand the trade-off between revocable and irrevocable trusts before choosing a structure with your attorney.
- Coordinate your estate attorney, CPA, and financial advisor together instead of letting them work independently.
- Business owners need succession and buy-sell planning years in advance, not after a crisis forces the issue.
- An outdated estate plan can be worse than no plan at all, because your life keeps changing and the documents don't.
Links & Resources
- Perennial Pride (Website): https://perennialpride.com
- Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, trusts, estate planning, revocable trust, irrevocable trust, wealth transfer, legacy planning, multi-generational wealth, tax strategy for business owners, business succession planning, buy-sell agreement, asset protection, financial freedom, wealth strategy, proactive financial planning, coordinated wealth strategy, take control of your finances, Wealth Beyond the Numbers, Virtual Family Office
Episode Highlights
[00:00:34 - 00:02:00]
Tom explains why most people never stop to plan for what happens to their wealth after they're gone.
[00:02:10 - 00:03:57]
Disclaimer: this episode is educational, not legal, tax, or financial advice.
[00:04:00 - 00:04:58]
A trust isn't a legal document, it's a structure that decides how your wealth is used and protected.
[00:05:00 - 00:05:59]
Trusts touch investments, homes, businesses, retirement accounts, charitable goals, and future generations.
[00:06:00 - 00:06:50]
Planning ahead spares your family from having to make difficult decisions after you're gone.
[00:06:50 - 00:07:59]
Revocable trusts keep flexibility, irrevocable trusts trade control for stronger asset and tax protection.
[00:08:00 - 00:08:59]
The biggest myth: trusts are only useful for the very wealthy.
[00:09:00 - 00:09:59]
If you're still building wealth, the smart move is setting up the structure you're growing into.
[00:10:00 - 00:10:59]
Most estate plans get set once and never updated as life and assets grow more complex.
[00:11:00 - 00:11:59]
Tom's medical school example: a plan set at graduation rarely still fits twenty years later.
[00:12:00 - 00:13:00]
Estate planning and tax planning are usually handled separately, but they should go hand in hand.
[00:13:00 - 00:14:00]
Efficient wealth transfer means structuring your business, investments, and insurance together for tax efficiency.
[00:14:00 - 00:15:00]
Attorneys, CPAs, and advisors each do great work but rarely coordinate with each other.
[00:15:00 - 00:16:00]
Tom compares coordinated planning to building a home: every contractor needs to work off one blueprint.
[00:16:00 - 00:17:00]
Business owners carry more complexity: succession, partners, and buy-sell agreements all need a plan.
[00:17:00 - 00:18:00]
Getting ahead of succession planning by 10 to 15 years protects the business and everyone tied to it.
[00:18:00 - 00:19:00]
Tom's closing questions: when was your estate plan last reviewed, and has it kept up with your life?
[00:19:00 - 00:20:04]
Tom invites listeners with gaps in their estate, tax, or investment plan to reach out at perennialpride.com.
Summary
For most business owners, the company they built is their biggest asset, yet so few of them spend real time thinking about how they'll eventually exit it. In this episode, I walk through why taxes are often the largest cost of a sale, and why planning ahead, sometimes five to ten years ahead, can be the difference between keeping the bulk of what you built or losing a significant chunk of it to an unplanned exit.
I break the conversation into three levers business owners can pull: timing the sale around your full financial picture, structuring the deal (asset versus equity, earn-outs, installment payments) to fit what matters most to you, and using advanced tax strategies like qualified small business stock and qualified opportunity zones to protect more of the gain. I close with a reminder that the real work doesn't end at the closing table. It's about designing what comes next.
Key Takeaways
- Start planning your exit years before you're ready to sell. Half of all business sales are forced, not chosen.
- Structure the deal, not just the price. Asset sales, equity sales, earn-outs, and installment payments can all change what you actually keep.
- Look into qualified small business stock and qualified opportunity zones early. Both require years of lead time to pay off.
- Factor your full financial picture, your spouse's income, your investments, your other assets, into the timing of your sale.
- Build your advisor team, CPA, business attorney, estate planner, financial advisor, before you need them, not after.
Links & Resources
- Perennial Pride (Website): https://perennialpride.com
- Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, Virtual Family Office, take control of your finances, selling a business, business exit planning, exit planning for business owners, qualified small business stock, QSBS tax strategy, qualified opportunity zone, capital gains tax planning, tax strategy for business owners, business sale structure, succession planning
Episode Highlights
[00:00:00 - 00:02:10]
Tom explains why exit planning matters for business owners and side-hustlers alike, well before anyone is ready to sell.
[00:03:35 - 00:04:35]
Tom paints the picture of a 20-year business owner who has never stopped to imagine what the exit actually looks like.
[00:04:35 - 00:07:05]
Your business is likely your biggest asset, and taxes will be the biggest expense you face when you sell it.
[00:07:35 - 00:09:05]
Lever one is timing: factor in your spouse's income, your investments, and your full financial picture before you sell.
[00:09:35 - 00:11:05]
Installment sales let you spread the sale, and the tax hit, over several years instead of one.
[00:11:05 - 00:12:05]
Half of all business sales are forced, not planned, which is exactly why pre-planning matters.
[00:12:05 - 00:14:00]
Selling while exhausted almost always means accepting a lower valuation than you could have gotten with a plan.
[00:14:20 - 00:16:35]
Lever two is structure: sophisticated owners negotiate the deal structure, not just the price, and it changes what they keep.
[00:16:35 - 00:18:20]
Earn-outs tie part of the sale price to future performance and can keep the business, and its clients, on track.
[00:18:20 - 00:20:35]
Owner financing and installment payments can smooth out both the buyer's risk and the seller's tax bill.
[00:22:20 - 00:24:20]
Qualified small business stock can exclude millions in capital gains, but it requires a C corp and a five-year hold.
[00:25:05 - 00:27:00]
Qualified opportunity zones let you defer, and potentially eliminate, tax on gains you reinvest in underserved areas.
[00:30:20 - 00:32:05]
Tom stresses building a full advisor team, CPA, attorney, estate planner, financial advisor, before you're ready to sell.
[00:32:05 - 00:33:15]
The biggest question after a sale isn't the size of the check. It's what your next chapter looks like.
Summary Most of the financial world is obsessed with investment alpha, chasing better returns, better allocations, better timing. Tom argues there's a bigger, quieter opportunity sitting right next to it: tax alpha. Taxes are the number one expense most successful business owners and professionals face, and a huge amount of that expense happens invisibly, through withholding you never see land in your account. Left unaddressed, that tax drag can compound into a massive, multi-million dollar cost over a lifetime, and most people never stop to measure it.
Tom walks through why tax deferral, the default strategy most people rely on through a 401(k) or IRA, is only half the picture. Deferring taxes means growing a tax bill alongside your account balance, and you don't control what the rate will be when you finally access it. He runs a real example: someone earning $500,000 might pay over $100,000 in federal taxes alone with no planning. Save just 15% of that bill, about $15,000 a year, and compound it at 7% for 30 years, and you're looking at more than $1.4 million. That's the power of proactive tax planning, and why mid-year, not December, is the time to start.
Key Takeaways * Calculate what you actually keep after tax on your investment returns, not just the headline number, because the after-tax figure is what actually compounds. * Diversify the tax treatment of your accounts, not just your investments, so your wealth isn't sitting entirely in tax-deferred vehicles. * Ask your CPA directly whether they do proactive tax planning or only compliance reporting, since most only handle the latter. * Use mid-year as your planning window instead of waiting until December, when rushed decisions rarely produce the best outcome. * Connect every tax-saving strategy back to what it lets you build in your life, not just to the dollar amount saved.
Links & Resources * Perennial Pride (Website): https://perennialpride.com/ * Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords tax alpha, tax drag, proactive tax planning, tax strategy for business owners, wealth strategy, financial freedom, Perennial Pride, Perennial Pride Podcast, Tom Suvansri, Wealth Beyond the Numbers, tax mitigation, tax efficient investing, high income tax planning, deductions vs reductions, take control of your finances, alternative investing, Virtual Family Office, coordinated wealth strategy, offense vs defense finances, capital efficiency
Episode Highlights * [00:00:19 - 00:01:00] Tom introduces tax alpha as the overlooked counterpart to investment alpha. * [00:01:19 - 00:02:00] Taxes are called out as the single biggest expense most successful people face. * [00:02:00 - 00:03:00] Withholding hides tax drag because you never see the money before it's gone. * [00:04:19 - 00:05:00] Tom explains why 401(k) and IRA deferral is only a partial strategy. * [00:05:19 - 00:06:00] Deferred accounts put you in a tax partnership with the IRS at an unknown future rate. * [00:07:41 - 00:08:41] Tom runs the numbers on a $500,000 earner's federal tax bill. * [00:08:19 - 00:09:00] Saving 15% of a $100,000 tax bill compounds to over $1.4 million in 30 years. * [00:11:00 - 00:12:00] Tom explains why most CPAs report on the past instead of planning for the future. * [00:12:19 - 00:13:00] Tax planning is framed as following the tax code's built-in incentive structure, not bending the rules. * [00:14:00 - 00:14:41] Tom makes the case for planning mid-year instead of scrambling in December. * [00:15:00 - 00:16:00] Tax savings are tied back to building the life you actually want, not just a bigger number.
Summary I recently talked with someone who'd just finished their tax return and found out they owed over sixty thousand dollars they hadn't planned for. Not their total tax bill, just what wasn't withheld, plus penalties on top of it. When I asked when their CPA knew about this, the answer was simple: when they did the return. That's the moment I want every Perennial Pride listener to avoid, and it comes down to one distinction. Compliance asks what happened. Strategy asks what should we do before the year is up. One reports history. The other designs your future.
In this episode, I break down why mid-year, right now, is the best time to start assessing where you stand in 2026 and get your tax professional working on strategy instead of just paperwork. I talk through the life events that require planning months in advance, what the modern CPA is starting to ask their clients, and why I think of myself, and the people I work with, as wealth architects coordinating a team on your behalf. Because the goal was never a better tax return. It's a better financial life, with fewer surprises and a lot more control.
Key Takeaways * Start tax planning conversations with your CPA at mid-year, not in February when most of your options have already closed. * Understand the real difference between compliance, which reports what already happened, and strategy, which designs what happens next. * Flag big life events early. New jobs, windfalls, real estate sales, and business sales all need tax planning months before they happen. * Look for a CPA or enrolled agent who asks what you're building toward, not just one who asks for your documents in January. * Build a coordinated team of advisors, tax, investment, and legal, so no single person is working from half the picture.
Links & Resources * Perennial Pride (Website): https://perennialpride.com/ * Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, Virtual Family Office, take control of your finances, proactive tax planning, tax strategy for business owners, tax mitigation, tax code incentives, high income tax planning, tax efficient investing, deductions vs reductions, coordinated wealth strategy, financial mindset, wealth strategy for entrepreneurs
Episode Highlights * [00:00:48 - 00:01:14] A client's CPA had no idea about a $60,000 tax bill until the return was already filed. * [00:02:33 - 00:03:14] Compliance answers "what happened." Strategy answers "what should we do before the year ends." * [00:03:36 - 00:04:11] Contributing to your 401(k) is a deferral, not a full tax strategy. * [00:04:34 - 00:05:04] By the time tax season starts, most of your planning options have already closed. * [00:05:24 - 00:06:06] New jobs, windfalls, real estate sales, and business sales all need tax planning months in advance. * [00:07:00 - 00:07:25] The modern CPA asks what you're building, not just for your documents. * [00:08:13 - 00:08:43] Most advisors work in silos instead of coordinating on a client's behalf. * [00:10:45 - 00:11:06] The goal was never a better tax return. It's a better financial life.
Summary
Every time you solve a financial challenge, a new one takes its place. Make more money and you face a growing tax bill. Reduce those taxes and you need a smarter investment strategy. Build real wealth and now you're thinking about retirement. Reach retirement and legacy planning moves to the front. Most people spend their lives chasing a state where problems disappear. That state doesn't exist. In this episode, Tom Suvansri offers a more honest and ultimately more empowering frame: you don't escape problems, you graduate to better ones.
Tom draws on his golf game, the rapidly evolving roles of CPAs and financial advisors in an AI-driven world, and his own experience parenting two sons on the edge of adulthood. In each case, the pattern is the same. Removing the obstacles doesn't produce growth. Facing them does. The real goal isn't eliminating uncertainty. It's building the clarity, structure, and confidence to move through it. In the world of personal finance, that means coordinating taxes, investments, retirement, and legacy into a cohesive plan that supports the life you're actually trying to build. Solve, evolve, repeat.
Key Takeaways
- Success isn't the absence of problems. It's becoming capable of handling increasingly meaningful ones. Every milestone you reach introduces a new layer of complexity, and that's exactly how it's supposed to work.
- Growth requires uncertainty. You don't build confidence by waiting until you feel ready. You build it by experimenting, experiencing, and progressing through the discomfort.
- CPAs, enrolled agents, and financial advisors are evolving from transactional roles toward trusted advisory ones. The professionals gaining ground are the ones helping clients make better decisions across their entire financial life.
- Most clients don't need more information. There's no shortage of it. What they need is clarity and a coordinated plan across taxes, investments, retirement, and legacy that actually supports the life they're trying to build.
- The question that changes everything: stop asking "How do I eliminate all my problems?" and start asking "Who do I need to become to solve the next one?"
Links & Resources
- Perennial Pride (Website): https://perennialpride.com/
- Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, wealth mindset, proactive financial planning, Wealth Beyond the Numbers, Virtual Family Office, business owner financial planning, CPA advisory services, financial advisor evolution, problem-solving mindset, wealth building for entrepreneurs, tax strategy for business owners, legacy planning, retirement planning for business owners, coordinated wealth strategy, uncertainty and growth, alternative investing
Episode Highlights
- [00:00:05 – 00:01:08] Tom maps the financial problem progression: more money brings taxes, reducing taxes demands a smarter strategy, building wealth leads to retirement questions, retirement leads to legacy planning.
- [00:01:09 – 00:01:36] Tom introduces the core insight: the goal was never to eliminate problems. The goal is to evolve so you can handle them more efficiently and successfully.
- [00:01:37 – 00:02:21] Life is a progression of increasingly meaningful challenges. Business owners face an ongoing evolution, from tax problems to succession to next-generation wealth transfer.
- [00:02:22 – 00:02:55] The quality of your life is determined by the quality of the problems you're capable of solving. As you grow, the problems grow in complexity and depth.
- [00:02:56 – 00:03:35] Growth requires uncertainty. Most people chase certainty because uncertainty is uncomfortable, but that's exactly where real progress happens.
- [00:03:36 – 00:04:22] Money in a bank account is certain but being eaten by inflation. Certainty comes with trade-offs; real wealth-building happens in the uncomfortable spaces.
- [00:04:23 – 00:05:46] Tom's golf game as a personal example: each adjustment creates new problems. Confidence builds through the process, not before it.
- [00:05:47 – 00:08:52] Tax professionals, CPAs, and enrolled agents are facing their own evolution, shifting from tax preparation and compliance toward helping clients make better financial decisions broadly.
- [00:08:53 – 00:10:39] Financial advisors face a similar shift. Portfolio management is increasingly automated. Real value now lives in coordination, clarity, and holistic planning.
- [00:10:40 – 00:12:01] Most clients don't need more information. They need clarity on where they're going and a coordinated plan that actually supports their life.
- [00:12:02 – 00:14:01] Tom draws on parenting his two sons. Removing all obstacles feels protective but robs them of the ability to build confidence and capability on their own.
- [00:14:02 – 00:14:34] The goal of parenting isn't to make life easier. It's to help children become more capable adults. The same principle applies to financial guidance.
- [00:14:35 – 00:16:32] Taxes, investments, retirement, and estate planning are important, but the real goal is coordinating them into a plan that gives you confidence and clarity about where you're going.
- [00:16:33 – 00:17:26] The pattern applies whether you're a CPA, financial advisor, business owner, parent, or investor: every problem you solve creates a bigger one. That's growth.
- [00:17:27 – 00:17:55] Tom closes with the question that changes everything: stop asking how to eliminate all your problems and start asking who you need to become to solve the next one.
SUMMARY
True wealth planning goes beyond spreadsheets and tax returns. That's the premise behind Heidi Olson's work at Pathfinder Legacy, and it's what drew Tom to have her on the show. In this conversation, Heidi shares how she helps families, farmers, and business owners move past the discomfort of estate and succession planning to get to what really matters: making sure the right people know the right things before it's too late. She explains why most families avoid these conversations entirely, how generational silence around death and money creates real downstream conflict, and what the families who get it right actually do differently.
The practical half of this episode is just as valuable. Heidi walks through her mediation process step by step, from meeting with owners first in a confidential setting, to sitting with successors separately, to eventually bringing the full family to the table. She explains how to build a simple asset inventory, why beneficiary designations and asset titling can either simplify or completely derail a wealth transfer, and how recent tax law changes affect succession planning decisions. Whether you're a business owner thinking about your first estate plan or someone with documents sitting in a drawer for a decade, this episode gives you both the mindset and the first concrete step to move forward.
KEY TAKEAWAYS
- Legacy is not just financial assets. Family stories, heritage, and values are equally worth preserving, and they disappear when families stop talking.
- Build your starting list this week: every asset and how it's titled, beneficiary designations on retirement accounts and life insurance, and a realistic timeline for your business or personal succession.
- Succession planning works best in stages. Meet with the owners first, then successors separately, then bring everyone together with a clear structure and a mediator.
- Avoiding these conversations doesn't protect your family. It leaves them grieving and in conflict at the worst possible moment.
- Review your plan after every life event. If nothing major has changed, check in at least every five years.
LINKS & RESOURCES
- Pathfinder Legacy - Website: pathfinderlegacy.com
- Pathfinder Legacy - Instagram: @pathfinderlegacyadvisor
- Pathfinder Legacy - Facebook: Pathfinder Legacy
- Pathfinder Legacy - LinkedIn: Pathfinder Legacy on LinkedIn
- Wealth Beyond the Numbers by Tom Suvansri: perennialpride.com
- Book a Strategy Conversation: perennialpride.com
KEYWORDS
estate planning, business succession planning, family legacy, legacy planning, wealth transfer, family communication, estate plan checklist, farm succession planning, business owner estate planning, trust and estate planning, beneficiary designations, irrevocable trust, succession planning for business owners, Pathfinder Legacy, Heidi Olson, Perennial Pride Podcast, Tom Suvansri, proactive financial planning, wealth strategy, financial freedom
EPISODE HIGHLIGHTS
- [00:00:00 - 00:01:15] Tom introduces Heidi Olson and frames the conversation around legacy going beyond financial assets.
- [00:01:16 - 00:02:37] Heidi describes her work at Pathfinder Legacy helping farmers, ranchers, and families find their path and preserve what they've built.
- [00:02:38 - 00:03:31] Heidi defines legacy as family history, heritage, and the stories passed down through generations, not just what's on a balance sheet.
- [00:03:32 - 00:06:46] Heidi explains why families avoid estate planning conversations, linking it to generational silence around mortality and fear of conflict.
- [00:06:47 - 00:07:21] Tom reflects on the belief that talking about estate planning will somehow accelerate death, and reframes it as a mindset shift.
- [00:07:22 - 00:09:10] Heidi describes what opens up when families finally sit down in a judgment-free space and begin talking about what they have and what they want.
- [00:09:34 - 00:10:11] Heidi talks about preserving family names, immigration histories, and the stories behind how families were built across generations.
- [00:10:12 - 00:11:38] Tom shares how learning about his grandparents' entrepreneurial history connected him to his roots and inspired his own career path.
- [00:11:39 - 00:14:45] Heidi identifies the main reasons legacy gets lost: avoidance, fear of conflict, and adult children with unspoken expectations about inheritance.
- [00:14:46 - 00:15:31] Tom shares a story about a family left completely in the dark when a parent was near death because estate conversations had never happened.
- [00:15:59 - 00:19:36] Heidi tells the story of a farmer with no children who gave everything to a charitable foundation, leaving family members with almost nothing.
- [00:19:56 - 00:20:20] Tom asks what the families who get succession right are actually doing differently.
- [00:20:21 - 00:25:52] Heidi walks through her mediation process: confidential owner meetings first, then successors separately, then structured family conversations.
- [00:25:53 - 00:26:57] Heidi explains how she coordinates across advisors and discusses the impact of recent tax law changes on succession planning decisions.
- [00:27:01 - 00:28:01] Heidi explains why families struggle to ask questions of professional advisors and how she bridges that gap.
- [00:28:02 - 00:33:22] Heidi explains how estate plans must evolve with life events: births, deaths, marriages, new businesses, and changing family dynamics.
- [00:33:23 - 00:34:28] Tom and Heidi discuss why so many people keep estate planning on their to-do list for years without ever taking a first step.
- [00:34:29 - 00:37:25] Heidi outlines the first steps anyone can take this week: build an asset list, review beneficiary designations, check titling, and set a timeline.
Summary
This episode is part two of a series covering Tom's due diligence trip to Raleigh, North Carolina, where he evaluated a multifamily real estate syndication opportunity. This time, Tom is joined by his son Aidan, a college student who came along for the trip and got a firsthand look at how private real estate investing actually works. Aidan shares his honest first impressions, what surprised him about the properties and the team, and how the experience completely shifted his understanding of what investing can look like.
What makes this conversation worth your time isn't just the father-son dynamic. It's the way Aidan's unfiltered perspective mirrors exactly how most people first approach the world of alternative investments: they assume it's riskier than the stock market, they don't know what to expect, and they haven't been shown another way. Tom uses the conversation to reinforce some of the most fundamental principles in wealth building — the importance of due diligence, the value of staying in your lane, and why real education around money has to go beyond what's taught in school.
KEY TAKEAWAYS • The risk is not in the investment itself — it's in how much the investor knows about it. Doing the work to go see a deal in person directly reduces that risk. • Staying in your lane matters: operators who are selective, focused, and disciplined in their niche earn more trust than those chasing every opportunity. • Alternative investments like real estate syndications are more accessible than most young people realize — you don't have to be the landlord to benefit from real estate. • Exposing the next generation to real investments early, not just stocks and crypto, opens doors to a broader wealth-building mindset. • The best preparation for future opportunity is learning and building knowledge now — luck is when preparation meets opportunity.
Links and resources
• Perennial Pride (Website): https://perennialpride.com
• Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com
• Part One of this series: Search "Perennial Pride Podcast" on Apple Podcasts, Spotify, or YouTube @perennialpride7448
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, real estate syndication, multifamily investing, private real estate investing, alternative investments, real estate investing for beginners, financial education for young adults, wealth building, proactive financial planning, investing for next generation, financial freedom, Raleigh North Carolina real estate, passive real estate investing, real estate due diligence, alternative investing explained, wealth strategy, Wealth Beyond the Numbers, Virtual Family Office
Higlights
- 00:00:06 – 00:01:05 Tom introduces part two of the Raleigh series, explaining this episode features his son Aidan sharing his perspective as a 20-year-old experiencing real estate due diligence for the first time.
- 00:01:49 – 00:02:44 Aidan describes what he expected before the trip versus what he actually found — the properties looked far better in person, the community was well-maintained, and the operator impressed him with their confidence and team culture.
- 00:03:32 – 00:04:27 Tom reframes the syndication business as exactly that: a business with employees, culture, and operations — and explains why meeting the CEO mattered as much as seeing the properties.
- 00:04:28 – 00:05:47 Aidan shares how the trip expanded his view of investing well beyond stocks and crypto into the world of private real estate, noting the operator's track record made him far more confident than he expected.
- 00:05:48 – 00:06:26 Tom articulates the core philosophy: the risk is not in the investment, it's in the investor. The more you know — about the deal, the team, the model — the more you de-risk your decision.
- 00:07:33 – 00:08:26 Aidan contrasts the online investing world (stocks, ETFs, crypto — all intangible) with seeing a physical investment in person, and how that tangibility opened his eyes to the broader investment landscape.
- 00:09:44 – 00:10:36 Aidan highlights what impressed him most: how selective the operator is, reviewing hundreds of properties to pick only a handful — a sign of real discipline and expertise.
- 00:10:37 – 00:11:33 Tom references Warren Buffett's punch card analogy: if you only had 10 investments to make in your lifetime, you'd think very carefully about each one. Selectivity is a competitive edge.
- 00:11:34 – 00:12:22 Aidan reflects on what younger people are exposed to financially — primarily stocks and crypto — and how this trip gave him a concrete goal for where he wants to be financially in the future.
- 00:13:23 – 00:14:14 Aidan's honest take: the most intimidating thing about investing is uncertainty, but seeing past results builds confidence — and sometimes you just have to swallow your fear.
- 00:14:15 – 00:15:28 Tom and Aidan discuss what's missing from financial education in schools — primarily, any exposure to private investments and alternative strategies beyond the stock market.
- 00:16:07 – 00:16:52 Tom reinforces the show's core philosophy: money is a tool to help you live the life you want, be with the people you love, and support your family with intention.
- 00:16:53 – 00:17:36 Aidan's closing insight: learning that you can invest into a real estate syndication without being the landlord made the whole asset class feel far more accessible — and it's now on his list.
Summary Every advisor, every CPA, every financial professional has heard it: "I'm paying way too much in taxes." And while that pain is real, I've noticed something important when I dig a little deeper with clients. The taxes themselves are often the most visible and most painful part of a much larger problem. Just like a fever tells you something's off without telling you what, a high tax bill is usually signaling a breakdown somewhere in how your financial life is designed, structured, and coordinated.
In this episode, I walk through the four layers of tax strategy and what each one actually requires. More importantly, I talk about what I'm really hearing when clients bring up taxes and what they're usually not saying directly but need to address. Because sometimes the best tax strategy isn't another deduction. It's a better design for how your money is working across your business, your investments, your income, and ultimately the life you're building.
Key Takeaways * A high tax bill is often a fever, not the disease. Ask what's driving it before treating the symptom. * Tax prep looks backward; tax planning looks forward. Most people focus on compliance when they should be focused on strategy. * The tax code is full of incentives for business owners and investors. Structure and design, not just deductions, are where the real leverage is. * Having multiple advisors who never talk to each other is one of the most common and costly coordination failures in a financial plan. * The best tax strategy is a better design for your entire financial life, one that's built around the life you're actually trying to live.
Links & Resources * Perennial Pride (Website): https://perennialpride.com * Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com
Keywords Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, proactive tax planning, tax strategy for business owners, tax mitigation, tax planning for high income, tax efficient investing, tax code incentives, wealth strategy, coordinated wealth strategy, Virtual Family Office, financial planning for business owners, Wealth Beyond the Numbers, deductions vs reductions, tax prep vs tax planning, high income tax planning, alternative investing, proactive financial planning
Episode Highlights * [00:00:06 - 00:00:38] Tom opens with the most common thing he hears from clients: "I'm paying way too much in taxes." * [00:01:45 - 00:02:32] The doctor and fever analogy, treating symptoms vs. diagnosing root cause. * [00:03:30 - 00:04:38] Tax bill as a cash flow and wealth-building problem, not just a tax problem. * [00:04:39 - 00:05:01] The planning gap: people have pieces but no cohesive strategy connecting them. * [00:06:19 - 00:06:58] Don't let the tax tail wag the dog. Tax mitigation must be integrated, not reactive. * [00:07:19 - 00:08:05] Layer 2: Tax planning, looking forward, setting up your world to be most tax-efficient. * [00:08:47 - 00:10:21] Layer 4: The 'why,' building and sustaining a life that serves what matters most. * [00:12:15 - 00:13:15] CPAs are trusted advisors but often can't cover everything. Collaboration is the gap. * [00:14:33 - 00:15:11] Closing: the best tax strategy is better design, and it starts with asking better questions.
Summary There's a certain kind of financial education that never shows up in a classroom or on a balance sheet, and that's what Tom set out to give his son on a recent trip to the Raleigh, North Carolina area. Alongside touring a multifamily syndication investment, Tom used the experience to open the door on how real investors evaluate operators, read markets, and make decisions with significant capital on the line. It turned into something far more than due diligence.
In this episode, Tom unpacks what he observed about the Raleigh market, why meeting operators in person is non-negotiable when it comes to passive investing, and how a trip to tour 150 to 200-unit workforce housing communities became a lesson in business, trust, and family legacy. He makes the case that the most undervalued part of estate planning is not the transfer of assets, it's the preparation of the people who will receive them. If you've ever thought about how to get your family more involved in your financial life, this one will give you a real framework for doing it.
Key Takeaways * Meet the operators in person before investing in any private deal. Transparency, contingency planning, and integrity only reveal themselves face to face. * Visit the markets where you invest. Seeing the property, the neighborhood, and the team in their environment gives you a feel no spreadsheet can. * Including your kids in real investment conversations, even when they're young, builds the financial confidence and decision-making instincts they'll carry for life. * Legacy is not just about transferring dollars. It's about transferring values, philosophy, and the perspective to manage wealth responsibly. * Money is a tool. Normalizing the conversation around it within your family removes the taboo and puts wealth in its proper place.
Links & Resources Perennial Pride (Website): https://perennialpride.com/
Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, Virtual Family Office, real estate investing, multifamily syndication, real estate due diligence, passive investing, legacy planning, multi-generational wealth, financial education for kids, wealth building for business owners, private real estate investing, Raleigh North Carolina real estate, workforce housing investment
Episode Highlights * [00:00:05 - 00:01:02] Tom introduces this as Part 1 of 2, sharing that he brought his college-age son along on a due diligence trip to the Raleigh, NC market to evaluate a multifamily syndication and spend quality time together. * [00:01:27 - 00:02:18] Tom explains the purpose of bringing his son: financial education is largely missing from schools and family conversations, and seeing real deals firsthand gives young people exposure they can't get anywhere else. * [00:02:49 - 00:03:19] Tom reflects on why investments feel abstract until you see them in person, and why he believes going on-site is essential for his own money and valuable for the rising generation. * [00:04:20 - 00:05:10] Tom shares his impressions of Raleigh, noting strong population and job growth, proximity to major universities like Duke and NC State, and a friendly, welcoming culture. * [00:05:10 - 00:06:10] The group toured properties by bus with the CEO and leadership team, giving Tom a real sense of how the operators think, communicate, and evaluate their market. * [00:06:10 - 00:07:36] Tom explains why rising interest rates froze deal flow for years, and how the specific acquisition they were evaluating came through an off-market relationship with a West Coast seller who wanted a quick, clean exit. * [00:08:18 - 00:09:51] Seeing 150 to 200-unit workforce housing communities through the lens of the operators showed Tom and his son what a vertically integrated real estate business actually looks like from sales to maintenance to renovation. * [00:10:33 - 00:12:24] Tom makes the case that the operator is the most critical variable in any passive investment, more than the property or the market, because they control how challenges are handled over a three to seven-year hold. * [00:12:04 - 00:14:19] Tom explains how in-person due diligence goes beyond spreadsheets: you see how operators communicate under pressure, whether they operate with transparency, and whether you can trust them with significant capital. * [00:15:23 - 00:16:50] Tom connects the trip to a broader point about legacy: estate planning often focuses on transferring wealth but neglects preparing the people who will receive it. Trips like this transfer knowledge, experience, and investment philosophy. * [00:17:39 - 00:18:22] Tom observes that many people don't even know what they might inherit because money is treated as a taboo topic in their families, and argues that wealth should be talked about openly as a tool. * [00:19:16 - 00:21:01] Practical investor takeaways: meet the operators, visit the markets, ask the hard questions about past failures, and look for operators who have gotten smarter over time. * [00:21:23 - 00:22:54] Practical parent takeaways: include your kids in financial conversations and decisions earlier than you think they're ready, let them see how you think analytically, and help normalize money as a topic. * [00:22:54 - 00:23:46] Tom closes with his core philosophy: wealth is not your identity. It's the tool that supports the life you want to lead and the people and causes you want to impact.
Summary
There's a version of financial success that looks good on paper but feels off in practice. You've got money coming in, multiple advisors in your corner, and accounts growing in the background — but you can't shake the sense that something isn't quite working. That unease, Tom argues, is almost always a design problem, not a money problem.
In this episode, Tom walks through exactly how financial fragmentation shows up: a CPA handling taxes without context for your broader wealth plan, a financial advisor managing investments without connection to your insurance or estate strategy, a handful of policies you have but don't fully understand. Independently, each piece might be solid. Together, they're a junk drawer — and junk drawers are expensive. Over time, they drain wealth through unnecessary taxes, missed compounding, trapped liquidity, and exposure you didn't know you had. The fix isn't more activity. It's a system that's intentionally designed around your actual life.
Key Takeaways
- Fragmented advisors create a fragmented financial life. Having multiple specialists is not the same as having a coordinated system — and the gap between the two is costing you.
- The biggest wealth drainers are often invisible: excess taxes, idle cash losing purchasing power, and building up assets just to liquidate them instead of letting them compound.
- Most people are forced into the role of "director" of their own financial system without the training or time to do it well. That gap is where opportunities disappear.
- Proactive planning beats reactive decision-making every time. The goal is to have more options to pull from, not fewer — especially when life doesn't go as planned.
- Design your life first, then build the financial system to support it. Money is a resource, not the goal.
Links & Resources
Perennial Pride (Website): https://perennialpride.com/
Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, coordinated wealth strategy, Virtual Family Office, Wealth Beyond the Numbers, financial planning for business owners, wealth building, tax strategy for business owners, proactive tax planning, siloed financial advisors, financial system design, capital efficiency, legacy planning, alternative investing, risk management, asset protection
Episode Highlights
[00:00:27 - 00:01:39]
Tom opens with the junk drawer analogy — how a financial life can start organized and quietly become a disconnected mess of accounts, advisors, and strategies that no one is managing as a whole.
[00:01:39 - 00:02:56]
The problem isn't that anything you've done is wrong. It's that the pieces aren't working in concert — and that creates stress, inefficiency, and risk that often shows up at the worst possible time.
[00:03:37 - 00:05:02]
A picture of the fragmented advisor world: a CPA focused on taxes, a financial advisor on investments, someone on insurance, maybe an estate attorney — all working in isolation with no one connecting the dots.
[00:05:02 - 00:07:24]
How disconnection shows up in real terms: tax strategies not tied to wealth-building goals, investments on set-it-and-forget-it mode, insurance policies people have but can't explain, and no clear system tying it all together.
[00:07:44 - 00:08:28]
Tom's personal reckoning — realizing he had a mishmash of things in his own financial life and had to step back, think like a designer, and ask how each piece fit into the larger picture.
[00:08:29 - 00:11:21]
The three biggest silent wealth drainers: overpaying taxes without a coordinated plan, holding excess cash that quietly loses value to inflation, and building up assets just to liquidate them — cutting compounding short.
[00:11:54 - 00:16:57]
The advisor chessboard: each specialist is focused on their own piece of the board. No one is looking at the full game. And for successful people, taxes alone can consume thirty to sixty percent of what flows through their financial life.
[00:16:58 - 00:19:52]
The director vs. doer distinction — the industry is full of doers executing their function. What's missing is a director: someone designing how all the pieces work together, coordinating the system, and thinking several moves ahead.
[00:19:54 - 00:22:11]
What coordination actually means: every financial decision made in the context of the whole system. Tax savings that flow into a wealth-building plan. Liquidity positioned for opportunity. Protection designed around your actual life.
[00:22:12 - 00:23:40]
The mindset shift: money first vs. life first. Tom argues your life — what you're building, what matters to you, how you want to live — has to be designed first. The financial system exists to support that, not the other way around.
[00:23:41 - 00:26:40]
Practical starting points: ask what all of this is actually for. Ask how the pieces connect. Ask your advisors how they're thinking about the bigger picture. And zoom out before making any significant financial decision.
[00:26:41 - 00:27:46]
Closing on intentionality: wealth isn't built randomly. It's built with a system, a direction, and the right people helping you hold it together.
Summary
Tom opens this episode by flagging one of the most expensive planning gaps he sees among business owners: the assumption that there is always more time to figure out the exit. His guest, Steve DeTray, CEPA and founder of Freedom Path Planning, brings a sharp framework to the conversation built on years of working directly with CPA firm owners who come to him too late, or just in time. They walk through why entrepreneurs, CPAs especially, tend to delay exit planning until it has already cost them, what push and pull factors actually drive most exits, and why 75 percent of business owners who sell end up regretting it within 12 months, not because of the check, but because they never thought through what comes next.
The second half of the conversation gets into the mechanics: the five Ds that force half of all exits to happen involuntarily, the two-to-seven-year runway that separates a solid exit from an expensive one, and what buyers actually look for when they evaluate a CPA firm. Steve and Tom also dig into why price is not the only thing to optimize for, how proactive service offerings change a firm's valuation, and the first assessments every business owner should run before they even think about going to market.
Key Takeaways
- Start exit planning before you think you need to: the minimum effective runway is two years, but five to seven years gives you the best chance at a happy, financially optimized exit.
- Fifty percent of business exits are forced by one of the five Ds: death, divorce, disability, disagreement, or distress. Having a plan in place protects your family and your legacy no matter what.
- Owner dependence is the biggest value killer in a CPA firm: if the relationships leave when you do, buyers will discount or walk away from your business.
- Price isn't the only thing that matters in a sale: employees, community, and what the buyer plans to do with your firm all determine whether you'll look back on the exit with pride or regret.
- A wealth gap analysis is your first move: knowing the gap between what you have saved and what you need from the sale gives you a clear target to plan around.
Links & Resources
- Perennial Pride — perennialpride.com
- Wealth Beyond the Numbers by Tom Suvansri — Available at perennialpride.com
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, Virtual Family Office, exit planning, CPA firm exit strategy, selling a CPA firm, business exit planning, CPA firm valuation, owner dependence, five Ds business exit, exit planning for business owners, tax strategy for business exit, private equity CPA acquisition, earn-out strategy, Steve DeTray, Freedom Path Planning, Opportunity Lost
Episode Highlights
[00:01:36 - 00:02:37]
Steve explains what drove him to write Opportunity Lost: CPAs repeatedly told him they wished they had known this sooner.
[00:03:00 - 00:04:02]
Steve breaks down why business owners delay exit planning: they get the financial freedom but never build in the time freedom, so the exit stays on the back burner.
[00:05:38 - 00:07:05]
Steve introduces push vs. pull factors: negative pressures like burnout push owners out, while a clear vision of the next chapter pulls them toward a more fulfilling transition.
[00:08:12 - 00:09:55]
A study by the Exit Planning Institute found that 75% of business owners who sold deeply regretted it 12 months later, not because of the price, but because they had no plan for what came next.
[00:11:15 - 00:12:27]
Tom and Steve walk through the five Ds of forced exits: death, divorce, disability, disagreement, and distress, which account for 50% of all business exits.
[00:13:21 - 00:15:03]
Steve shares his own exit: he sold his wealth management practice in three months and left six figures on the table because he had no plan in place.
[00:16:17 - 00:18:12]
The timeline framework: two years is the minimum, five to seven years is ideal, and starting at the beginning of the business is best of all.
[00:18:13 - 00:19:10]
Certain IRS-code strategies can effectively eliminate capital gains taxes on a business sale, but only with at least five years of lead time to set them up.
[00:20:58 - 00:22:09]
Owner dependence is the single biggest value killer in a CPA firm: if the owner holds all the client relationships, buyers see that as unacceptable risk.
[00:22:10 - 00:25:29]
Differentiated, proactive service offerings make clients stickier and the firm more valuable, because 74% of business owners are already open to switching CPAs.
[00:25:30 - 00:27:24]
Selling a business is far more complex than selling a house: Steve's due diligence process includes 150 non-financial questions that most owners cannot fully answer.
[00:32:25 - 00:34:38]
Exit planning is just good business planning: the same setup that makes a firm attractive to a buyer also makes it more enjoyable and sustainable for the owner right now.
[00:36:08 - 00:38:25]
Steve breaks down buyer types, including strategic buyers and private equity, explaining how each buyer's business model should shape deal structure and what the owner prioritizes in the negotiation.
[00:40:52 - 00:42:19]
The first step: run a personal assessment, a business assessment, and a wealth gap analysis to find out where you stand and how much the business needs to sell for.
Executive Summary
A college tour with his son gave Tom Suvansri an unexpected lens for examining some of the most important principles in personal finance. In this episode, he draws five lessons from the trip—on exposure, cost vs. return, legacy, comfort zones, and life design, and connects each one back to the wealth decisions his listeners face every day.
The episode's central idea: most people think about moving money to their children, paying for college, leaving an inheritance, funding a future. But the families that build lasting, multi-generational wealth think about moving money through people, using it to shape values, capabilities, and purpose across generations. That difference, Tom argues, is the distinction between wealth that lasts and wealth that disappears.
Key Takeaways
- Constantly seek exposure to new financial ideas, staying in your bubble means making decisions with limited information and leaving real opportunity on the table.
- Stop defaulting to cost-consciousness alone; evaluate every financial decision by its long-term return, not just its up-front price tag.
- Shift your thinking from money to your children to money through your children, the difference is whether you're funding a moment or building a foundation.
- Wealth transfer isn't just about moving dollars, it's about passing down the wisdom, values, and capabilities to steward those dollars across generations.
- Growth, in life and in your financial strategy, happens outside your comfort zone. Discomfort is a signal you're in the right place.
- Design your financial life intentionally. Facing hard questions (legacy, mortality, purpose) is what moves you from autopilot to a coordinated wealth strategy.
- Gratitude first, then optimization, start by acknowledging what's working before you identify the gaps worth addressing.
Links & Resources
Perennial Pride — perennialpride.com
Wealth Beyond the Numbers by Tom Suvansri — Available at perennialpride.com
Keywords
Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, legacy planning, multi-generational wealth, wealth transfer, college planning, money as a tool, wealth stewardship, family wealth, Infinite Banking Concept, alternative investing, Wealth Beyond the Numbers, financial mindset, estate planning, Virtual Family Office, wealth building for business owners
Episode Highlights
Timestamp
Highlight
00:00:30
Tom shares how a college tour with his son prompted him to examine five financial principles he'd been thinking about.
00:02:19
Why exposure—to schools, strategies, and financial ideas—is the foundation of better decision-making at every level.
00:04:41
The danger of confirmation bias in wealth-building: staying comfortable means making decisions with limited information.
00:06:36
How cost-consciousness without long-term ROI thinking leads to missed opportunity—in education and in financial planning alike.
00:09:35
The insurance blind spot: most people don't know what protections they actually have until the moment they need them.
00:11:40
The shift from money to vs. money through—and why that difference defines whether wealth lasts or disappears in a generation.
00:13:40
Legacy isn't just transferring dollars. It's transferring the wisdom, values, and purpose to use those dollars well.
00:15:37
The Rockefeller vs. Vanderbilt contrast: one family has perpetuated wealth for generations; the other watched billions dissolve.
00:18:10
Why comfort is the enemy of growth—and why meaningful progress in life and finance requires stepping into discomfort.
00:22:29
Facing the hard conversations—mortality, legacy, purpose—is how you move from financial autopilot to intentional life design.
00:25:02
The core question Tom leaves listeners with: are you moving money to your life, or through things that create lasting meaning?
Episode Summary Balancing "offense vs. defense" in your financial life to build resilient, optimized wealth
It uses a sports analogy (especially basketball/March Madness) to explain how:
Offense = wealth-building activities (investments, income, growth, assets) Defense = protection and structure (tax strategy, insurance, liquidity, risk management, debt strategy)
Key ideas include:
Most people over-focus on offense (growth) because it's more exciting The defensive side is overlooked, but it's what protects and amplifies long-term success A strong financial system requires coordination, not silos Defensive strategies (like tax efficiency, liquidity, and proper use of debt) can actually fuel offensive growth Financial success isn't about extremes—it's about intentional balance and integration Working with a coordinated team of advisors is critical to avoid fragmented decision-making
At its core, the episode is about:
Designing a financial system where every dollar works smarter—protected, positioned, and productive.
Links & Resources * HOME - Perennial Pride
Keywords Wealth Strategy Financial Planning Taxes Investing Risk Management Cash Flow Liquidity Debt Strategy Insurance Wealth Building Personal Finance Asset Allocation Financial Freedom Capital Efficiency Money Mindset
Episode Highlights * 00:00–01:00 – Tax season stress and the sports analogy introduction * 01:00–02:00 – Why offense vs. defense applies to financial life * 02:00–03:00 – The overemphasis on investing and growth ("offense") * 03:00–04:30 – What "defense" really means: protection and structure * 04:30–05:30 – Taxes as the biggest hidden expense and opportunity loss * 05:30–06:30 – The importance of insurance and risk protection * 06:30–07:30 – Liquidity: the overlooked key to seizing opportunities * 07:30–08:30 – Strategic use of debt as a growth accelerator * 08:30–10:00 – How poor coordination creates financial fragility * 10:00–11:30 – Using tax strategy to fuel future investments * 11:30–13:00 – Life insurance as both protection and financial asset * 13:00–14:30 – Leveraging assets like home equity strategically * 14:30–16:00 – Real-world example: borrowing vs. selling assets * 16:00–17:30 – The dangers of being too aggressive or too conservative * 17:30–19:00 – Why coordinated financial systems outperform siloed strategies
Episode Summary In this episode of the Perennial Pride Podcast, Tom Suvansri sits down with philanthropic advisor Barron Damon to explore a topic often overlooked in financial conversations: how we use our wealth for good.
With over 20 years of experience in the nonprofit and philanthropic space, Barron shares his personal journey into philanthropy, sparked by a life-altering event that reshaped his perspective on empathy, purpose, and impact. Together, they unpack common misconceptions around giving—especially the belief that philanthropy is only for the wealthy—and introduce a more intentional framework: values + resources + strategy = impact.
The conversation dives into how individuals and families can approach giving more proactively, the importance of defining a personal "philanthropic why," and how advisors can shift from transactional relationships to transformational ones by integrating philanthropy into financial planning.
They also discuss the upcoming generational wealth transfer, the role of family values in preserving legacy, and how structured giving can strengthen relationships across generations. This episode offers both a philosophical and practical guide to building a legacy that goes beyond money.
Links & Resources * perennialpride.com * Home - Business of Life CC
Keywords
Philanthropy Wealth Management Legacy Giving Financial Planning Generational Wealth Values-Based Investing Impact Strategy Nonprofit Personal Development Family Wealth Financial Advisors Purpose-Driven Wealth Social Impact Legacy Planning
Episode Highlights * 00:00–01:02 – Why philanthropy is often missing from wealth conversations * 01:02–02:58 – Barron's life-changing experience that led him into philanthropy * 02:58–04:27 – Defining philanthropy as "the love of mankind" * 04:27–05:20 – Common misconceptions: philanthropy is not just for the wealthy * 05:20–07:01 – The "business of giving" and why structure matters * 07:01–08:17 – Moving from reactive to intentional giving * 08:17–09:59 – The framework: values + resources + strategy = impact * 09:59–11:35 – Why most people lack a clear philanthropic "why" * 11:35–13:04 – Teaching giving as a family value and building generational habits * 13:04–14:44 – Creating a family mission statement around giving * 14:44–16:02 – How to discover your philanthropic passions * 16:02–17:47 – The emotional connection: what you love and what frustrates you * 17:47–19:34 – Advisors shifting from transactional to transformational relationships * 19:34–21:41 – Philanthropy as a tool to deepen client trust and connection * 21:41–24:08 – Navigating generational wealth transfer and differing values
Summary
In this episode of the Perennial Pride Podcast, Tom Suvansri dives into the realities of tax season and the growing risks taxpayers face from fraudulent schemes. Using the IRS "Dirty Dozen" list as a foundation, Tom breaks down common tax scams—from phishing attempts to misleading social media advice—and explains how easily individuals can fall into costly traps.
More importantly, he shifts the conversation toward what good tax planning actually looks like. By focusing on economic substance, legal grounding, and proper implementation, Tom outlines how individuals and business owners can approach taxes strategically and ethically. From real estate depreciation to charitable giving and business structuring, this episode offers practical insights to help listeners reduce taxes the right way—while staying compliant and aligned with long-term financial goals.
Links & Resources
- perennialpride.com
Keywords Tax Planning IRS Dirty Dozen Tax Scams Phishing Social Media Tax Advice Ghost Tax Preparers Tax Credits Charitable Giving Real Estate Depreciation Cost Segregation Bonus Depreciation S-Corp Strategy Business Structuring Economic Substance Tax Compliance
Episode Highlights 00:00–00:40 - Introduction and the chaos of tax season 00:40–01:21 - Why tax season is a great time to start planning 01:21–02:10 - Overview of the IRS Dirty Dozen tax scams 02:10–03:06 - Difference between tax planning and tax fraud 03:06–04:16 - IRS impersonation scams and phishing tactics 04:16–06:03 - How the IRS actually communicates with taxpayers 06:03–07:11 - Dangers of social media tax advice and misinformation 07:11–08:09 - Misuse of self-employment tax credits 08:09–09:12 - Risks of ghost tax preparers and unlicensed advisors 09:12–10:36 - Improper use of tax credits like fuel tax credits 10:36–12:09 - Inflated charitable deductions and appraisal manipulation 12:09–13:46 - Why tax planning is encouraged when done correctly 13:46–15:13 - Three pillars of good tax strategy: substance, law, execution 15:13–17:07 - Real estate depreciation and cost segregation explained 17:07–18:39 - Bonus depreciation and accelerating tax benefits 18:39–20:10 - Charitable giving strategies and donor-advised funds 20:10–21:20 - Business structure strategies like S-Corp elections 21:20–22:52 - Retirement plans and income/expense timing strategies 22:52–24:24 - Questions to ask before implementing any tax strategy 24:24–25:42 - Importance of a team: CPA, attorney, and advisor 25:42–26:43 - Final thoughts on aligning tax strategy with life goals
Summary Real estate investing often seems complicated for those who are busy running businesses or managing their careers. In this episode, host Tom sits down with Neil Timmins, founder of Little Guy Loans, to unpack two major paths into real estate: becoming an operator (fixing and flipping properties) or becoming the lender behind those deals.
Neil shares insights from more than 20 years in the industry, including experience as a real estate agent, investor, flipper, landlord, and now private lender. The conversation explores how investors can get started, what separates successful operators from struggling ones, and why buying the property right is the most important decision in a fix-and-flip deal.
The episode also dives into the often overlooked role of private lending in real estate. Neil explains how lenders structure deals, manage risk, and protect their capital through underwriting and loan-to-value ratios. He also explains how investors can participate in private credit opportunities and what they should evaluate before allocating capital to real estate lending.
Whether you're considering active real estate investing or looking for alternative investment strategies beyond traditional markets, this episode offers a practical look at how both sides of the real estate equation work—and how to determine which path might be right for you.
Links & Resources * neil@littleguyloans.com * perennialpride.com
Keywords Real estate investing Fix and flip strategy Private lending Real estate lenders Loan to value Real estate underwriting Property flipping Private credit investing Alternative investments Passive income real estate Real estate capital Property rehab investing Real estate deal analysis Investor risk management Real estate financing
Episode Highlights 00:00–00:36 - Introduction to the episode and the topic of getting started in real estate investing 00:36–01:15 - Meet Neil Timmins and his experience in real estate and lending 01:15–02:26 - Neil's career path from banking to real estate agent and investor 02:26–03:18 - Launching Little Guy Loans and the philosophy behind supporting Main Street investors 03:18–05:18 - Comparing risk between flipping properties and lending on real estate deals 05:18–07:30 - Why successful flippers focus heavily on buying the property correctly 07:30–09:14 - The importance of project management, contractors, and sticking to a renovation plan 09:14–10:50 - How lenders evaluate deals and ensure borrowers have realistic projections 10:50–12:02 - Why lenders must avoid setting borrowers up for failure 12:02–14:22 - Common mistakes flippers make and how they lose money on deals 14:22–15:30 - Treating real estate investing like a business rather than chasing big wins 15:30–17:04 - Understanding how private lending works in real estate transactions 17:04–18:42 - What it means for lenders to hold first position on a property 18:42–20:22 - How loan-to-value ratios create protection for lenders 20:22–21:36 - Structuring deals to reduce risk in real estate lending 21:36–23:01 - How private lenders move faster than traditional banks 23:01–24:47 - Who is best suited for active investing vs. lending capital 24:47–26:24 - How investors can participate as private lenders without managing properties 26:24–27:33 - Where private credit fits inside a diversified investment portfolio 27:33–29:00 - Risks investors must understand before lending privately 29:00–30:17 - Liquidity considerations when investing in private real estate deals 30:17–31:19 - The importance of knowing the operators behind private investments 31:19–33:20 - Final thoughts and where listeners can learn more about Little Guy Loans
Episode Summary In this reflective episode of Perennial Pride, Tom Suvansri shares lessons sparked by a college visit trip with his son — and how that experience became a powerful metaphor for life, finances, and long-term fulfillment.
Tom explores the idea that life is a compounding journey shaped by daily decisions. Whether in finances, health, relationships, or personal growth, the choices we make today determine whether life becomes easier or harder tomorrow. The episode challenges listeners to rethink comfort, discipline, and planning by asking a simple question:
Are you choosing easy now — or freedom later?
Through practical examples and personal stories, Tom explains why discipline, planning, education, and intentional discomfort are essential tools for building resilience, wealth, and meaningful success over time.
Ultimately, this episode is about embracing the right kind of hard — the kind that compounds into freedom, confidence, and fulfillment in the future.
Links & Resources * perennialpride.com
Keywords Compounding growth Long-term thinking Financial discipline Life planning Personal development Delayed gratification Wealth mindset Financial education Decision making Comfort vs discipline Planning vs reacting Stoic philosophy Personal responsibility Intentional living Freedom through discipline Mindset growth Family and legacy Resilience building Behavioral finance Self-improvement
Episode Highlights 00:00–01:25 - A college visit sparks reflections on life transitions and growth 01:25–02:45 - Life as a compounding journey rather than an overnight destination 02:45–03:39 - Easy choices today vs hard consequences tomorrow 03:39–04:33 - Studying, training, and saving as examples of compounding effort 04:33–05:37 - Planning versus reacting in financial and personal decisions 05:37–06:33 - Discipline as the foundation of freedom and resilience 06:33–07:20 - The hidden cost of being "cheap" in life and finances 07:20–08:22 - When short-term savings create long-term expenses 08:22–09:12 - Paying for expertise, planning, and guidance as investments 09:12–10:22 - Education and coaching as lifelong growth tools 10:22–11:14 - Applying compounding principles to health and relationships 11:14–12:25 - Avoiding hard conversations and long-term relational costs 12:25–13:13 - Why humans naturally choose comfort and ease 13:13–14:13 - Fear, unfamiliarity, and financial avoidance 14:13–15:15 - Ego as a barrier to learning and growth 15:15–16:11 - Growth requires discomfort and effort 16:11–17:19 - Practical decision filter: choose the harder path intentionally 17:19–18:29 - Thinking about future costs before making decisions 18:29–19:34 - Getting comfortable being uncomfortable 19:34–20:22 - Building mental resilience through small challenges 20:22–21:08 - Designing decisions around long-term vision 21:08–22:03 - Discipline vs regret: both are hard — choose wisely 22:03–23:05 - The hard choices today that create freedom tomorrow
Episode Summary In this episode, host Tom Suvansri sits down with Josh Gilmore, SVP at SDIRA Wealth, to explore how real estate investing can serve as a long-term pathway toward financial independence. Drawing from personal experience and over a decade working with investors, Josh explains how direct ownership of rental properties can create predictable income, tax efficiency, and protection against market volatility.
The conversation moves beyond traditional retirement planning and reframes wealth as the ability to work by choice rather than necessity. Together, they discuss why single-family rental properties remain attractive in today's economic environment, how investors can leverage financing strategically, and why market selection matters more than timing the market itself.
Listeners will gain insight into cost segregation and tax advantages, the realities of building generational wealth, and how full-service real estate investing models help busy professionals participate in real estate without managing day-to-day operations. Ultimately, the episode highlights education, intentional planning, and long-term thinking as the foundation for sustainable financial freedom.
Links & Resources * SDIRA Wealth | Boost Your Real Estate Investments * perennialpride.com
Keywords Real Estate Investing Financial Freedom Passive Income Rental Properties Cash Flow Investing Single Family Rentals Cost Segregation Tax Strategy Wealth Building Long-Term Investing Financial Independence Income Replacement Inflation Protection Property Ownership Real Estate Development Investment Strategy Generational Wealth Alternative Investments Portfolio Diversification Investor Education
Episode Highlights 00:00–01:35 - Introduction and purpose of financial education beyond money
01:35–02:40 - Josh Gilmore's journey into real estate after the financial crisis
02:40–04:32 - Evolution of SDIRA Wealth and adapting through market cycles
04:32–06:06 - Defining financial freedom through income replacement
06:06–07:39 - Moving beyond job-based income toward asset ownership
07:39–09:24 - Why direct ownership differs from stocks and syndications
09:24–11:59 - Benefits of new construction properties and reduced maintenance risk
11:59–13:49 - Real estate as a long-term and generational wealth strategy
13:49–16:12 - Market selection and evaluating economic resilience
16:12–18:41 - Choosing stable markets and avoiding volatility traps
18:41–21:04 - The full-service investment model explained
21:04–23:28 - Ownership control and investor peace of mind
23:28–25:13 - Tax advantages and cost segregation strategies
25:13–28:05 - The rise of a renter nation and housing affordability trends
28:05–30:23 - Institutional investors and future housing dynamics
30:23–31:47 - Who real estate investing is best suited for
31:47–33:31 - Education-first approach to investor decision making
33:31–35:57 - Final advice: take action through learning and informed decisions
EPISODE SUMMARY Taxes are not a once-a-year inconvenience.
They are a system that quietly influences nearly every financial decision you make — how you earn, how you save, how you invest, how you use your money, and how you transfer wealth to the next generation.
In this episode, we break down the five stages of wealth where taxes play a critical role:
- How you earn
- How you save
- How you invest
- How you distribute income
- How you transfer wealth
Most people approach taxes reactively — filing returns in April and moving on. But the tax code is not broken. It simply rewards those who understand it and plan accordingly.
From W2 income and business ownership… to retirement distributions, Roth conversions, Medicare coordination, estate planning, and even the "buy, borrow, die" strategy — this episode provides a high-level roadmap for thinking more strategically about taxation across your lifetime.
Because keeping more of what you earn legally is not about avoiding taxes.
It's about designing your financial life intentionally.
LINKS & RESOURCES * perennialpride.com
KEYWORDS Tax planning Proactive tax strategy W2 income taxation Business ownership benefits Tax efficiency Cash flow design Roth conversions Opportunity Zones Capital gains strategy Tax deferred accounts Medicare coordination Social Security taxation Estate planning Probate avoidance Buy borrow die strategy Wealth transfer Trust planning After-tax returns
EPISODE HIGHLIGHTS 00:00–01:10 - Tax season reminder: why taxes feel seasonal but impact you year-round 01:10–02:19 - Taxes influence every financial decision you make 02:19–03:30 - The tax code as a behavioral incentive system 03:30–04:38 - W2 income and why employees are taxed first 04:38–06:19 - Why business owners often have structural tax advantages 06:19–07:24 - The difference between gross taxation and net taxation 07:24–08:49 - Saving money: why bank interest is taxed again 08:49–10:10 - Cash value life insurance as an alternative storage vehicle 10:10–11:48 - Investing: 401(k)s, mutual funds, and tax deferral tradeoffs 11:48–13:20 - Capital gains advantages and market inefficiencies 13:20–15:08 - Government-incentivized investments: real estate, energy, Opportunity Zones 15:08–16:22 - After-tax returns vs headline returns 16:22–17:40 - Retirement distributions and tax deferred account traps 17:40–19:07 - Social Security and Medicare coordination risks 19:07–20:32 - Roth conversion strategies before retirement 20:32–21:24 - Required minimum distributions and forced withdrawals 21:24–22:43 - Estate taxes vs probate costs 22:43–23:50 - Taxation of inherited retirement accounts 23:50–25:25 - The "buy, borrow, die" strategy explained 25:25–27:00 - Why proactive tax coordination requires a team approach 27:00–29:11 - Taxes reward planners, not procrastinators
EPISODE SUMMARY In this reflective and forward-looking episode, the host explores a question most people avoid:
What if you live to 95… or even 100?
After celebrating a 65th birthday and anticipating a 90th birthday in the family, he reflects on how quickly life moves — and how dramatically longevity is changing financial realities. With people living longer, traditional retirement models may leave individuals exposed, underprepared, and overly dependent on outdated financial advice.
This episode challenges the average-life-expectancy mindset and instead encourages listeners to build wealth plans that account for longer runways, rising healthcare costs, tax exposure, and economic volatility.
But the conversation goes deeper than money.
The host introduces the concept of four forms of capital — financial, health, relationship, and purpose capital — arguing that true wealth requires balance across all four. Money alone does not equal wealth. Freedom, flexibility, optionality, and contribution define it more accurately.
This episode is a call to rethink not just retirement… but the entire philosophy of wealth building.
LINKS & RESOURCES * perennialpride.com
KEYWORDS Longevity planning Retirement rethink Financial runway Cash flow investing Tax efficiency Optionality Flexibility Healthcare planning Sequence of return risk Four forms of capital Financial capital Health capital Relationship capital Purpose capital Wealth beyond money Abundant life strategy Lifestyle design Freedom planning
EPISODE HIGHLIGHTS 00:00–01:00 - Reflecting on longevity: 65th and 90th birthdays spark perspective 01:00–02:10 - What if you live to 95 or 100? The planning gap most ignore 02:10–03:40 - The problem with using average life expectancy in financial plans 03:40–04:29 - Retirement could last longer than your working years 04:29–05:47 - Rethinking "retirement" as transition, not withdrawal from service 05:47–07:08 - Living longer means healthcare costs become a major threat 07:08–08:27 - Why planning for worst-case scenarios creates peace 08:27–09:37 - Traditional Wall Street retirement advice and its limitations 09:37–10:56 - Sequence of return risk, volatility, and taxation exposure 10:56–11:28 - Why building cash flow now creates optionality later 11:28–12:32 - Tax efficiency as the largest wealth lever most ignore 12:32–13:42 - Flexibility through multiple income streams 13:42–14:24 - Optionality: escaping the "stuck in a job" trap 14:24–15:07 - Introducing the Four Forms of Capital 15:07–15:52 - Financial capital: assets that produce income today 15:52–16:29 - Health capital: investing in your body like a portfolio 16:29–17:10 - Relationship capital: family, friends, and meaningful connection 17:10–17:48 - Purpose capital: meaningful work and contribution 17:48–18:53 - Money alone does not equal wealth 18:53–20:23 - Questions to evaluate your long-term wealth plan
Episode Summary In this episode of Perennial Pride, Tom Suvansri explores a powerful paradox: why highly successful professionals often abandon the very mindset that made them successful when it comes to managing their personal finances. While they take ownership, calculated risks, and bold action in their careers, many default to fear, herd mentality, and passivity with money—especially around taxes and long-term planning. This episode challenges listeners to reclaim curiosity, education, and intentional design in their financial lives to move beyond average outcomes.
Episode Resources
- perennialpride.com
Keywords Financial ownership Herd mentality Proactive tax planning Personal finance mindset Financial education Wealth beyond the numbers Tax strategy Long-term planning Average vs intentional outcomes Financial empowerment Risk tolerance Designing your financial system
Episode Highlights 00:00–01:18 - The paradox of success in career vs personal finance
01:18–02:15 - Fear replacing curiosity in financial decisions 02:15–03:30 - Why herd mentality feels safe—but limits outcomes 03:30–04:39 - Taxes as a common area of financial passivity 04:39–05:26 - Reactive tax compliance vs proactive tax strategy 05:26–06:20 - Why advisors often don't push proactive planning 06:20–07:21 - Education as the gateway to better financial decisions 07:21–08:21 - Planning years ahead instead of scrambling later 08:21–09:22 - Designing systems that adapt to inevitable change 09:22–10:58 - Questions successful people need to ask about money
Summary
In this episode of Perennial Pride, discover the power of urgency over comfort in building wealth and success. Using the inspiring story of a high school football team's championship journey, explore the vital role of intentional effort, proactive planning, and facing challenges to achieve financial freedom and a richer life beyond money. Perfect for anyone ready to transform their approach to wealth and life..
Episode Highlights
00:01:20 - Reflection on success through hard work.
00:02:05 - Urgency and comfort: insight on excellence and regret.
00:03:33 - Overcoming resistance to pursuing hard goals.
00:03:49 - The entrepreneurial mindset and taking intentional action.
00:05:21 - Stoicism: embracing obstacles as paths to growth.
00:07:07 - Complexity and its impact on financial management.
00:09:32 - Passive investing and its potential pitfalls.
00:11:56 - The importance of proactive, urgent financial planning.
00:12:26 - Risk mitigation as a critical but overlooked aspect.
00:14:23 - Wealth-building: Saving vs. spending culture.
00:17:58 - Benefits of maintaining liquidity for opportunities.
00:19:02 - The importance of aggressive tax planning.
00:20:49 - Diversifying and self-investing for financial excellence.
00:22:02 - Assessing comfort vs. urgency in wealth-building efforts.
Episode Resources
- perennialpride.com
Keywords
- wealth building
- urgency
- comfort
- financial freedom
- wealth management
- obstacles
- stoicism
- risk mitigation
- complexity
- volatility
- consumerism
- stoic philosophy
- proactive planning
- investment
- tax planning
- entrepreneurial
- retirement accounts
- savings and spending
- liquidity
- taxes
- estate planning
- personal development
- business ownership
- real estate
- financial education
- opportunity funds
- financial discipline
- financial independence
- Perennial Pride podcast
EPISODE SUMMARY
This episode revisits key conversations that challenge traditional financial thinking. From protecting family legacies through trusts, to using infinite banking as a personal financial system, to leveraging private equity for passive income and tax efficiency, this episode emphasizes intentional wealth-building through structure and education.
LINKS MENTIONED
https://podcasts.apple.com/us/podcast/perennial-pride/id1632084146
KEYWORDS / SEO
Perennial Pride Podcast, Best of 2025 podcast, Trust administration, Estate planning trusts, Generational wealth, Infinite banking concept, Whole life insurance banking, Private equity investing, Passive income strategies, Alternative investments, Financial independence, Wealth education, Tax-efficient investing.
EPISODE HIGHLIGHTS WITH TIMESTAMPS
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00:00–00:01 - Introduction and episode overview
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00:01–00:07 - Trusts and generational wealth
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00:07–00:09 - Risks of inheritance without structure
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00:09–00:13 - Infinite banking explained
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00:13–00:15 - Misconceptions about whole life insurance
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00:15–00:18 - Guarantees vs market returns
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00:18–00:23 - Private equity for busy professionals
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00:23–00:25 - Fund-of-funds and diversification
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00:25–00:26 - Closing message on financial empowerment
Today's episode of the Perennial Pride podcast, Tom dives into one of the most overlooked but essential concepts in wealth building: liquidity. With markets showing volatility and assets potentially overvalued, he breaks down why having access to capital—not just investments—is key to confidence, preparedness, and opportunity. Tom shares practical strategies he's personally used over the last year, including reassessing investments, unlocking equity, trimming expenses, and planning taxes proactively. Whether it's handling emergencies or striking when opportunities appear, this episode offers a grounded roadmap to fortifying your financial foundation.
Episode Highlights * 02:00: The "Everything Bubble" and why timing markets doesn't work * 05:00: Why liquidity creates calm, confidence, and optionality * 07:30: Emergency funds vs opportunity funds * 10:00: Selling assets strategically to unlock trapped equity * 12:00: Exiting syndications and private investments for flexibility * 14:30: Home equity, HELOCs, and planning before you need them * 16:00: Alternative places to store liquidity * 18:00: The three layers of liquidity explained * 19:30: Warren Buffett's "tide going out" lesson * 20:00: Final thoughts on preparation and long-term confidence
Links and Resources:
- perennialpride.com
In this episode of The Perennial Pride Podcast, Tom and Kira break down one of the hottest—and most controversial—financial headlines: the potential introduction of a 50-year mortgage. They unpack what this could mean for first-time homebuyers, investors, affordability, long-term debt, and the already-strained housing market. From rising interest rates and distorted market forces to cash-flow strategies and real estate investment implications, this conversation cuts through the noise to help you understand the good, the bad, and the ugly behind ultra-long mortgages. If you're trying to make sense of today's housing landscape—or wondering whether a 50-year loan is a lifeline or a long-term trap—this episode gives you the clarity you need.
Episode Highlights
01:54 - Financial implications for first-time homebuyers.
06:01 - The rise of the average first-time homebuyer age.
11:46 - Interest rate impact on home affordability.
14:35 - Early mortgage payoff considerations.
18:50 - Inflation's role in mortgage strategy.
21:20 - Real estate investment and 50-year mortgages.
32:56 - Government's involvement in housing markets.
39:17 - Long-term financial planning with mortgages.
Episode Resources
- perennialpride.com
Continuing on this final episode with Brandon Jenkins, Tom and Brandon explore the multifaceted nature of leadership, emphasizing the importance of self-leadership, trust, and humility. They discuss the challenges leaders face when transitioning from individual contributors to team leaders, the significance of fostering a collaborative team culture, and the necessity of connecting individual values to team goals. They highlight the role of accountability and the need for leaders to create an environment where open communication and feedback are encouraged. Ultimately, the conversation serves as a guide for aspiring leaders to embark on their journey of personal and professional growth.
Episode Highlights
04:51 - Leadership is personal: born or made?
05:37 - Self-leadership as a foundational aspect.
10:02 - Recognizing unique blueprints in team members.
13:55 - The challenge of transitioning from expert to leader.
16:44 - The significance of authenticity in leadership.
19:58 - Building trust through genuine actions.
30:15 - Empowerment versus micromanagement.
32:45 - Letting go: balancing control and delegation.
36:50 - The power of asking questions to foster connection.
40:29 - Consistency in reinforcing team culture and feedback channels.
45:30 - Accountability partners as tools for growth.
50:06 - Starting with self-reflection to identify core values.
Episode Resources
- perennialpride.com
Continuing in this four part series, Tom and Brandon talk about the impact of beliefs and assumptions on personal behavior and potential. He emphasizes how these ingrained beliefs, often formed from early life experiences, can unconsciously dictate actions and hinder personal growth. By becoming aware of these underlying assumptions, individuals can unlock their true potential and make more intentional choices in their lives. Tune in next week for part four!
Episode Highlights
05:36 - Golden Path fallacy.
07:58 - Self-awareness unlocks fulfillment.
10:35 - Embracing unique leadership.
13:31 - Leaders not having all the answers.
17:54 - Empowering and unleashing team potential.
23:26 - Connecting values to organizational purpose.
33:04 - Reflecting to identify passions.
35:39 - The importance of curiosity.
Episode Resources
- perennialpride.com
- tieronecoaching.com
- Connect with Brandon Jenkins
- brandon@tieronelifeinsurance.com
In part two of this series with Brandon Jenkins, Tom and Brandon explore the concept of resilience, its importance in personal and professional growth, and practical strategies to cultivate it. They discuss the significance of understanding one's purpose, the cycle of aligning actions with that purpose, and the mindset required to navigate challenges. Things such as community, preparation, and mindfulness help building resilience and achieving success. Stay tuned for part three!
Episode Highlights
01:20 - Building resilience in life.
05:57 - Align, Act, Assess, Adjust framework.
07:11 - The importance of a resilient mindset.
10:09 - Pressure rehearsal and authentic thinking.
12:18 - The power of chair flying.
14:53 - Handling stress as a leader.
17:40 - The concept of a pre-mortem.
23:00 - Disconnecting identity from failure.
26:51 - The value of leadership ready rooms.
31:35 - Owning the controllable mindset.
39:06 - Importance of recovery and resets.
Episode Resources
- perennialpride.com
- tieronecoaching.com
- Connect with Brandon Jenkins
- brandon@tieronelifeinsurance.com
In this first episode of a four part series, Tom Suvansri and Brandon Jenkins explore the concept of purpose and fulfillment in life. They discuss the importance of understanding one's personal purpose, the pitfalls of following societal expectations (the golden path fallacy), and the significance of introspection and mindset shifts. Brandon shares insights on creating a blueprint for clarity in one's life and the value of conducting an energy audit to identify what truly energizes and fulfills individuals. They emphasize the ongoing journey of self-discovery and the importance of aligning one's actions with their values and passions. Be sure to tune in next week for Part 2.
Episode Highlights
03:54 - Understanding your purpose.
12:26 - The concept of the "Golden Path" in careers.
20:22 - Blueprint process for finding purpose.
37:37 - Practical first steps: an energy audit.
Episode Resources
- perennialpride.com
- https://tieronecoaching.com/
- Connect with Brandon Jenkins
- brandon@tieronelifeinsurance.com
In today's episode, Tom Suvansri and Deb Snyder discuss the challenges faced by small business owners and the importance of effective planning for future success. Deb shares insights from her experience at Cultivate Advisors, emphasizing the need for a mindset shift towards enterprise value and strategic planning. They explore the significance of setting SMART goals, the role of team buy-in, and the necessity of having a clear vision for the business. Tune in to hear more about this and the common myths about business planning and the importance of preparing for unexpected events.
Episode Highlights
01:43 - Enterprise value as a paradigm shift for business owners.
02:55 - Importance of working on the business, not just in it.
05:32 - Planning for 2026: Why it's important now.
06:45 - Rewrite of traditional business plans to simpler formats.
07:50 - SMART goals explained.
09:44 - Breaking down business goals into 90-day sprints.
13:45 - Highlighting enterprise value, financials, and business health.
17:46 - Bringing team members into business planning.
19:59 - Importance of key performance indicators (KPIs).
21:37 - The reality of business exits and planning for succession.
25:20 - Employee buy-in as part of the planning process.
27:50 - Having regular review meetings for business plans.
30:02 - Importance of not making the same mistake twice.
Episode Resources
- perennialpride.com
- Connect with Deb Snyder
- deborah@cultivateadvisors.com
In this conversation, Tom Suvansri and Mark Hutchinson delve into the concept of Infinite Banking, exploring its principles, misconceptions, and practical applications for both personal and business finance. Mark shares his journey to discovering Infinite Banking, emphasizing the importance of financial education and stewardship. The discussion highlights how Infinite Banking can serve as a powerful tool for cash flow management, legacy planning, and investment strategies, ultimately leading to financial freedom and control over one's wealth.
Episode Highlights
04:43 - Explaining the Infinite Banking Concept.
05:56 - Misconceptions about whole life insurance.
07:31 - Benefits of Infinite Banking for businesses and individuals.
12:02 - Control over financial systems, minimizing lost opportunity cost.
14:36 - Example of using IBC for business expenses.
16:59 - Long-term financial strategies using Infinite Banking.
21:19 - Generational wealth and financial education.
25:22 - Infinite Banking as a tool for investments.
30:10 - Risks and strategies in personal and business investments.
35:33 - Building financial freedom with Infinite Banking.
Episode Resources
- perennialpride.com
- Connect with Mark Hutchinson
- livingbenefits@mail.com
In this episode, Tom discusses the importance of early financial and tax planning as summer comes to an end. He emphasizes the need for proactive strategies to mitigate taxes and highlights common misconceptions about tax planning. The conversation covers various opportunities for business owners, investment strategies, charitable giving, and family legacy planning. Tune in to get insights into maximizing your financial potential.
Episode Highlights
01:14 - Tax planning awareness.
02:14 - The importance of early action.
02:56 - Capital gains tax lesson.
04:18 - Consulting professionals for tax strategy.
06:00 - Proactive vs. reactive tax approach.
11:09 - Misconception: Wealth and tax strategy.
13:54 - Real estate tax advantages.
14:44 - Charitable donation strategies.
18:00 - Avoiding tax procrastination.
20:09 - Taking ownership of financial life.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
Joining Tom today is Marlene Amata, a seasoned tax accountant, who shares about the evolution of tax planning and the importance of collaboration in financial services. Marlene shares her journey from disliking accounting to finding passion in helping clients navigate their financial lives. They discuss the concept of the Virtual Family Office (VFO) and how it can provide comprehensive support for clients, emphasizing the need for collaboration among professionals to better serve clients' needs. Take a listen to hear more about the value of having a supportive network.
Episode Highlights
[01:25] Overcoming Initial Disinterest in Accounting
[02:29] The Impact of the Entertainment Industry on Career Choice
[03:45] Transition from Traditional Accounting to Client-Focused Service
[06:10] Tax Planning: Downside of Success?
[11:04] Virtual Family Office: A Modern Take on Rockefeller's Legacy
[12:45] Leveraging Networks: Avoiding Solitude in Expertise
[16:20] Breaking Down Silos: The Future of Client Services
[20:39] Common Missteps in Tax Strategy for New Entrepreneurs
[23:40] Ignored Risks: A Business Owner’s Blind Spot
[28:00] Community and Collaboration: The New Key to Success
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
In this episode of the Perennial Pride podcast, Tom talks about the growing trend of solopreneurs and the importance of planning for the unexpected in business. He emphasizes the need for solopreneurs to establish a solid foundation, including legal structures and financial safeguards, to protect their assets. Tom also highlights the significance of succession planning and mindset shifts necessary for long-term success. The episode provides practical advice for solopreneurs to ensure their businesses are prepared for unforeseen circumstances and to maximize their value.
Highlights
05:55 - Unforeseen Health Crisis Impact
06:56 - Preparing for Business Disruptions
07:02 - Strategies for Business Continuity
09:01 - Implementing Legal Structures
09:26 - Importance of Documentation
09:45 - Financial Safeguards for Businesses
12:04 - Training Successors
13:12 - Buy-Sell Agreements
16:09 - Mindset Shift for Solopreneurs
18:00 - Protecting Your Business Asset
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
In this podcast episode, Tom Suvansri interviews Beau Turner, founder of Abundant Mines, about the world of Bitcoin mining and its potential as a passive income source. Beau shares his journey from traditional investing in real estate to the innovative realm of Bitcoin mining, emphasizing the importance of education and understanding in navigating this space. The conversation explores the benefits of mining over simply buying Bitcoin, the evolving technology behind mining equipment, and the demographic shifts in Bitcoin adoption. Beau also highlights the environmental impact of mining and its role in energy efficiency, making a case for Bitcoin as a financial freedom tool and a significant asset in modern investment portfolios. Tap into the power of education, innovation, and passive income. Subscribe now and discover how Bitcoin mining could be your next step toward long-term wealth and financial freedom.
Highlights
02:22 - Early interest in wealth building.
03:23 - Transition from engineering to real estate.
03:59 - Bitcoin discovery and re-investment.
06:25 - The lesson from harsh experiences.
09:52 - Tangible interaction with Bitcoin mining.
10:57 - Recognition of Bitcoin’s permanence.
14:31 - The advantage of Bitcoin mining over buying.
19:22 - Understanding the lifespan of mining equipment.
22:44 - Addressing energy waste in mining.
25:32 - The widespread potential of Bitcoin.
32:10 - Bitcoin as a revolutionary financial technology.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this podcast episode, Tom Suvansri explores various perspectives on wealth building, emphasizing the importance of patience, fulfillment in work, and the impact of relationships and environment on personal success. He discusses the common rush towards financial independence and the need for deeper reflection on life choices, career satisfaction, and the significance of community in achieving long-term wealth and fulfillment. Slow down, tune in, and rethink what wealth really means to you. Subscribe now and join the conversation about building a life that’s not just rich in dollars—but in meaning, purpose, and connection.
Highlights
02:01 - Paradox of Technology: More Frenzy, Less Simplicity.
02:27 - FIRE Movement: Sacrifices for Early Retirement.
05:52 - Rethinking Life Paths: Beyond Traditional Roadmaps.
06:35 - Delving Into Long-term Fulfillment and Wealth.
07:28 - Big Life Decisions: Impact Beyond Wealth.
13:26 - Experimentation Over Immediate Commitment.
14:48 - Aligning Work with Personal Values.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this episode, Tom Suvansri discusses the importance of building a strong financial foundation for wealth and freedom. He draws inspiration from nature, emphasizing the need for growth and stability in our financial lives. The conversation covers various aspects of financial education, awareness, saving, debt management, estate planning, and asset protection, all aimed at empowering listeners to create a life of abundance and security for themselves and future generations. Start building your foundation today—subscribe, share this episode, and connect with us to explore how you can create lasting wealth on your own terms
Highlights
01:15 - Building foundations for future generations.
03:35 - Five areas of life requiring abundance and freedom.
05:47 - Importance of financial education.
10:08 - The significance of cash flow in personal finance.
13:20 - Saving as a key financial strategy.
15:55 - The critical role of insurance defense strategies.
19:08 - Awareness and planning for inevitable life events.
21:20 - Debt strategy and responsible financing.
25:00 - Estate planning essentials: wills and trusts.
27:10 - Asset protection strategies to safeguard wealth.
29:35 - Benefits of using education to manage investments.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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Today, Tom dives into the concept of freedom and the various financial traps that can hinder wealth building. He emphasizes the importance of understanding debt, retirement accounts, the tax system, home ownership, inflation, reliance on government support, and hidden fees in finance. Tune in today to hear more about taking control of your financial lives and make informed decisions to achieve true freedom and wealth.
Highlights
01:04 - Perspective in financial decision-making.
03:39 - Debt as a wealth-building trap.
05:57 - Student loans and the burden of debt.
09:47 - Rethinking retirement account contributions.
11:59 - Impact of tax system on wealth building.
14:19 - Homeownership as a financial trap.
17:08 - Inflation and devaluation of currency.
19:23 - Government reliance and personal financial control.
20:57 - Hidden fees in financial services.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this podcast episode, Tom explores the concept of wealth beyond just financial capital. He emphasizes the importance of various forms of capital, including time, health, relationships, and purpose, in achieving a fulfilling life. Through personal anecdotes and reflections, he encourages listeners to assess their own wealth in these areas and take intentional steps towards improvement.
Highlights
01:31 - Realizing True Wealth Beyond Finances
04:44 - Five Forms of Capital: A Holistic Approach
05:54 - Financial Capital: Importance of Cash Flow
07:12 - Time Capital: Prioritizing Your Time
09:59 - Health as Wealth: The Need for Vitality
13:49 - Relationship Capital: Importance of Social Ties
16:41 - Purpose Capital: Finding Meaning in Life
19:19 - Self-Assessment for Growth in Wealth Areas
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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Join Tom today as he discusses the importance of self-investment and personal growth during uncertain times. He emphasizes the need to look within ourselves to identify opportunities and strengths, encouraging listeners to dream big and overcome fears. Tom shares insights on turning problems into opportunities, taking action, and seeking feedback from trusted individuals. Tune in to hear more about the value of embracing discomfort as a means for growth and success.
Highlights
01:03 - “Acres of Diamonds” story.
03:36 - Investing in yourself first.
04:54 - Self-awareness and the blueprint process.
07:01 - Solving everyday problems like in Shark Tank.
11:07 - The importance of dreaming and aspirations.
13:56 - Leveraging unique talents for impact.
16:59 - Gauging your skills through trusted opinions.
19:51 - Learning through discomfort and failure.
21:58 - Encouragement to embrace action and growth.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
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In this episode, Tom discusses the complexities of taxes and their impact on personal finance. He emphasizes the importance of understanding various types of taxes, including income tax, capital gains tax, estate tax, and the often-overlooked inflation tax. Tom introduces the concept of the 'ignorance tax,' highlighting the financial costs associated with a lack of knowledge about tax strategies. He encourages listeners to seek education and professional advice to mitigate their tax burdens and emphasizes the importance of continuous learning in achieving financial success. Take a listen today to see if you're being proactive about tax planning!
Highlights
01:09 - Taxes: The Biggest Expense and Wealth Impact
03:03 - Taxes as Behavioral Incentives
04:36 - The Robert Kiyosaki Tax Perspective
06:57 - Capital Gains Tax: An Incentive to Invest
09:00 - Inflation: The Stealth Tax
12:34 - Surpassing Inflation to Maintain Wealth
14:28 - Ignorance Tax: Knowledge as Power
17:02 - Tax Code Structure and Strategic Planning
19:57 - Worth of Paying for Expert Advice
20:18 - Lifelong Learning for Financial Success
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
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Today's episode, Tom draws the parallels between the game of golf and financial management, emphasizing the importance of long-term thinking, holistic approaches, and emotional control in achieving financial success. He discusses the significance of generational wealth, the need for the right financial tools, and the value of collaboration with experts to navigate complex financial landscapes. Tune in today to learn more about the measuring of financial progress and maintaining a proactive mindset to adapt to changing circumstances.
Highlights
00:35 - Masters as a symbol for managing life.
01:01 - Golf’s parallels with financial management.
02:00 - Generational thinking in golf and finance.
03:11 - Importance of estate planning and education.
03:46 - Strategy in golf and financial planning.
05:07 - Holistic integration of financial advisors.
07:01 - Exploring diverse financial tools and strategies.
09:33 - Mindset and emotional control in finance and golf.
11:03 - Benefits of proactive financial planning.
13:13 - Value of expert advisors and a team approach.
14:49 - Importance of measuring financial progress.
16:49 - Objective evaluation of financial strategies.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this engaging conversation, Tom chats with Gil Roberts, an entrepreneur with a diverse background in finance and business. They talk about the journey from traditional finance to entrepreneurship, discussing the lessons learned from early failures and successes. Gil emphasizes the importance of understanding the financial system, the value of connecting with people, and the need to break free from societal expectations. Tune in to hear more about the significance of personal fulfillment over material possessions.
Highlights 01:27 - Transition from programming to finance. 02:14 - First failed business and key learning. 05:23 - Experience gaining collection proficiency. 08:36 - Importance of doing what you love. 09:09 - Transition to commercial lending. 13:49 - System design in education and work. 15:43 - Concept of lifestyle inflation. 19:17 - Escape the rat race. 24:09 - Freedom beyond monetary wealth. 44:31 - Emphasis on financial literacy and education.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Gil Roberts
- gil@gilroberts.net
- https://gilroberts.net/
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Today, Tom is joined by Steve DeTray to discuss the critical aspects of business exit planning, emphasizing the importance of having a succession plan, understanding business valuation, and preparing both the business and the owner for a successful exit. They explore the mindset shift required for business owners, the role of a support team, and the emotional readiness needed for transitioning out of a business. Thinking about selling your business? This episode is for you!
Highlights 01:33 - Mistakes from a rushed business exit. 06:58 - Necessity of a business-owner mindset shift. 11:06 - The critical 5-year runway for exiting. 13:52 - External forces driving involuntary exits. 19:45 - Over-reliance on the business owner. 25:21 - Eight key drivers impacting business value. 29:10 - Preparing the owner emotionally for exit. 31:14 - Importance of purpose post-retirement.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Steve DeTray
- https://www.linkedin.com/in/stevedetray/
- https://www.freedompathplanning.com/about-us/
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In today's exciting episode, Tom chats with Kyle Shoulvin, an independent insurance broker, discussing the often-overlooked importance of insurance in financial planning. Kyle shares his journey from teaching to the insurance industry, emphasizing the value of independent agencies in providing personalized insurance solutions. They dive into essential personal insurance coverages, the significance of liability coverage, and the complexities of homeowners insurance, particularly in the context of rising risks and market challenges. Tune in to make sure you have all the right coverage you need!
Highlights 07:13 - Misconceptions about the insurance industry. 10:49 - Importance of liability coverage. 16:32 - Understanding condo insurance requirements. 22:40 - Insurance challenges in risk-prone areas. 30:01 - Impact of natural disasters on insurance. 35:34 - Commoditization of the insurance industry. 40:53 - Importance of understanding policy comparisons.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Kyle Shoulvin
- https://www.linkedin.com/in/kyle-shouvlin-cic-53a83388/
Call to Action Schedule a Call with Tom
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In this episode, Tom talks about the inevitability of change in life and how to navigate it positively. He emphasizes the importance of self-reflection, understanding one's unique strengths, continuous education, taking action, surrounding oneself with supportive people, and financial preparedness. Additionally, he highlights the significance of risk management and cultivating gratitude during times of transition. Tune in to be inspired to embrace change as a pathway to personal growth and fulfillment!
Highlights 01:04 - Embracing Impermanence: The Inevitability of Change. 04:38 - Finding Purpose: Assessing Personal Values. 08:00 - Unique Skillset: Embrace and Love Your Uniqueness. 10:05 - Lifelong Learning: Education is a Passion. 12:43 - Taking Action: Ready, Fire, Aim. 15:57 - Support Networks: Importance of Surrounding Yourself with the Right People. 18:54 - Financial Preparedness: Getting Your Financial House in Order. 25:04 - Gratitude Practice: Focus on Positive Aspects. 26:28 - Managing Change: Growth, Stress, and Maturity.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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Today, Tom dives into the concept of wealth stacking, emphasizing the importance of making money work for you in multiple ways. He introduces the infinite banking concept as a strategy to leverage life insurance for wealth accumulation and explores various methods to utilize home equity and investment portfolios effectively. Tom also highlights the risks associated with leveraging debt and the importance of making informed investment decisions to ensure financial growth and security. Tune in to hear more!
Highlights
02:59 - Challenging traditional wealth-building. 05:56 - Introduction to Infinite Banking concept. 08:39 - Borrowing against life insurance policies. 10:05 - Real estate leveraging example. 14:44 - Risks of leveraging for investments. 16:47 - Warren Buffett’s rule on not losing money. 19:08 - Risks and controls in using margin loans. 23:45 - Importance of not over-leveraging. 26:20 - Advanced debt strategies and traditional advice contrast.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this podcast episode, Tom discusses the key principles for achieving financial success and the common pitfalls that lead to financial failure. He emphasizes the importance of tracking finances, having a solid financial plan, continuous learning, and making informed investment decisions. The conversation also highlights the dangers of short-term thinking and the strategic use of debt. By flipping the perspective on financial success, he encourages you to take actionable steps towards building your wealth.
Highlights
00:36 - The opposite approach to financial advice. 01:25 - Financial failure strategy: Not tracking finances. 02:58 - Importance of having a financial plan. 04:31 - Continuous learning in personal finance. 09:11 - The risk of relying solely on internet advice. 10:53 - The pitfalls of thinking short-term.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this episode, Tom chats with Keshav Kolur, the principal at Clive Capital, who shares his journey into real estate investing and the establishment of his company. Together, they discuss the importance of financial freedom, the benefits of private equity, and the innovative fund of funds model that simplifies investment for tech professionals. Keshav outlines the criteria used to assess investments, emphasizing cash flow, tax benefits, and diversification. Tune in to hear more about the accessibility of alternative investments, such as oil and gas, and innovative strategies for building wealth through private equity and self-directed IRAs.
Highlights 04:57 - Journey into real estate at a young age 05:50 - Discovering syndications over single-family homes 07:50 - Proof of concept with first syndication 08:51 - Launching Clive Capital to expand passive investments 11:19 - Emphasis on private equity over public markets 12:51 - Significance of diversification 14:59 - Fund of Funds model explained 17:41 - Criteria for selecting investments 22:59 - Accredited investor: who qualifies? 29:39 - Three ways to fund investments 33:59 - Excitement about oil and gas investments 35:24 - Tax benefits of oil and gas investments 36:54 - Alternative investment strategies in focus
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Keshav Kolur
- https://clivecap.com/about-us/
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In this podcast episode, Tom chats with Antony Joffe, chairman of Sterling Trustees, to discuss the importance of trust administration and the role of independent trustees. They explore the benefits of trusts for wealth protection and generational legacy, the advantages of South Dakota's trust laws, and the common misconceptions surrounding estate planning. Antony emphasizes the need for financial education for beneficiaries and the importance of choosing the right trustee to avoid family conflicts. Tune in to hear more from this episode!
Highlights 04:40 - Antony’s unexpected career path 06:35 - Importance of trusts in legacy planning 09:56 - Challenges of independent trustees 12:15 - Why South Dakota for trust laws 15:12 - Importance of teaching financial responsibility 17:39 - What families often get wrong about trusts 19:32 - Keeping it simple: Trust design advice
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Antony Joffe
- https://sterlingtrustees.com/
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Today, Tom discusses the 'Buy, Borrow, and Die' strategy, a wealth-building approach that emphasizes the importance of acquiring assets, borrowing against them, and utilizing tax laws to pass wealth efficiently to the next generation. He highlights the benefits and risks associated with this strategy, including the significance of the stepped-up basis and the need for careful estate planning. Tom encourages listeners to integrate these strategies into a cohesive financial plan and to start small with practical steps. Tune in to find out more about this strategy!
Highlights 02:54 - Importance of asset ownership. 05:23 - Borrowing against appreciating assets. 06:26 - Stepped-up basis explained. 09:32 - Risks of over-leveraging. 11:45 - Importance of estate planning. 12:57 - Start with basic asset-backed loans. 13:56 - Need for a cohesive financial strategy. 15:05 - Long-term legacy and business continuity.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this engaging conversation, Tom interviews David Frankel, founder of Perky LLC, who shares his entrepreneurial journey, the challenges he faced, and the innovative solutions he created. They discuss the importance of problem-solving, resilience, and persistence in entrepreneurship, as well as the role of sales experience in building relationships and understanding customer needs. Tune in to hear more of this conversation between two entrepreneurs!
Highlights 01:08 - Starting the entrepreneurial journey. 01:44 - Innovation from necessity: high school invention. 02:29 - The rarity of patented ideas coming to market. 03:41 - Solving the droopy collar problem. 08:29 - The importance of observing problems. 09:41 - Are entrepreneurial skills innate or learned? 11:45 - Emotional intelligence in solving problems. 13:21 - The value of patience and persistence. 14:06 - Teaching children problem-solving skills. 14:56 - The necessity and benefits of failure. 16:54 - The unique drive of entrepreneurs. 18:01 - Sales: A foundation for entrepreneurship. 22:32 - Building relationships in sales. 26:04 - Entrepreneurship lesson: addressing a wide audience. 28:11 - Process from idea to product development. 33:02 - Packaging’s role in product marketability.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with David Frankel
- info@perkyllc.com
- https://www.linkedin.com/in/davidmfrankel/
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In this episode, Tom discusses the importance of proactive tax planning, especially as the year comes to a close. He emphasizes the need to plan ahead to avoid last-minute stress and suboptimal financial decisions. The conversation covers various aspects of tax planning, including deductions, credits, income conversion strategies, and navigating tax brackets. Tom encourages listeners to educate themselves about the tax code and work with financial professionals to optimize their tax situations and ultimately retain more wealth.
Highlights
03:32 - Planning to mitigate tax stress 05:56 - Tax deferral: conventional wisdom 07:35 - Importance of deductions 10:25 - Credits as tax reducers 13:08 - Converting income types 16:05 - Progressive tax brackets strategy 18:05 - Income splitting benefits 21:15 - Tax deferral with 401k and IRA 23:36 - Real estate and 1031 exchanges 24:43 - Opportunity zones benefits 26:03 - Strategic tax planning importance
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this podcast episode, Tom chats with Clint Harris, a general partner at Nomad Capital, who shares his unique journey from a medical sales career to the self-storage investment space. Clint discusses the importance of financial independence, the pursuit of a meaningful life, and how he transitioned into real estate investing. He highlights the advantages of self-storage as an asset class, the innovative business model of Nomad Capital, and the deeper purpose behind their investments, which focuses on creating opportunities for families to spend quality time together. In this conversation, Tom and Clint dive into the complexities of real estate investment, emphasizing the importance of partnerships, understanding asset classes, and adapting to market trends. They discuss the impact of COVID-19 on storage needs, particularly among millennials, and explore cultural perspectives on consumerism. Tune in to hear more from this exciting episode!
Highlights 03:59 - Strategy shift: single-family to Airbnb. 05:49 - Realization of time and financial independence. 07:06 - Exploring successful real estate investor strategies. 07:52 - Experiencing burnout from managing multiple tenants. 08:25 - The appeal of self-storage investments. 09:07 - Importance of asset class conversion. 12:17 - Financial independence and personal goals. 14:12 - Founding of Nomad Capital. 17:18 - Impact of generational shifts on real estate. 18:45 - Discussion on consumerism and storage needs. 21:05 - Advantages of self-storage: low expense ratio. 25:00 - Effects of housing market trends on storage. 26:20 - Millennial usage of self-storage as extended space. 36:00 - Investing strategy: assessing personal alignment. 37:00 - Suitable investment profile for self-storage fund.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Clint Harris
- https://www.linkedin.com/in/clint-harris-543265139
Call to Action Schedule a Call with Tom
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Today, Tom discusses the importance of understanding the true costs of living, emphasizing the difference between short-term cheap options and long-term investments. He explores various aspects of personal finance, including financial planning, insurance, tax strategies, estate planning, and debt management, urging listeners to think holistically about their financial decisions and the impact they have on their future. Tune in to understand the true cost living.
Highlights 03:00 - Long-term quality vs. short-term savings. 03:51 - Health as a long-term investment. 04:49 - Thinking beyond immediate costs. 05:55 - Long-term net worth vs. income planning. 10:18 - Comprehensive financial planning overlooked for sales. 15:00 - The role of insurance in risk mitigation. 20:53 - Proactive tax planning importance. 23:55 - Estate planning and legal basics. 25:59 - Leverage vs. debt in wealth building. 29:44 - Investing in personal health for long-term benefits.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
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In this episode, Richard Walsh joins Tom and shares his extensive entrepreneurial journey, beginning from his time in the Marine Corps to becoming a successful business owner and coach. He discusses the challenges he faced during the 2008 economic downturn, the importance of shifting from an employee mindset to an owner mindset, and the critical role of feedback in validating business ideas. Richard emphasizes resilience in the face of rejection and the necessity of learning from failures to achieve success in entrepreneurship. Tom and Richard dive into the multifaceted journey of entrepreneurship, emphasizing the importance of commitment, understanding expectations, and the necessity of having a purpose beyond profit. Tune in to hear about the resilience required to navigate the ups and downs of business ownership and the significance of recognizing the true value provided to customers.
Highlights
03:00 - From shoveling granite to $1,000 in a day: an entrepreneurial awakening. 04:45 - Scaling from landscape to custom water features. 07:02 - 2008 financial crash: Losing half a million in one day. 10:24 - Shutting down the business to refocus on family. 13:05 - The creation of "Escape the Owner Prison" and a new coaching venture. 18:50 - Side hustle reality for would-be entrepreneurs. 23:30 - Overestimating in one year, underestimating in five. 24:50 - The rejection blues: handling noes and setbacks. 31:36 - Vision-driven business: Understanding the bigger mission. 38:17 - The importance of customer journey and experience. 46:17 - The thrill of entrepreneurship: innovation and automation. 47:56 - Where to find more about Richard and his coaching services.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Richard Walsh https://www.linkedin.com/in/richard-walsh-866ab237
Call to Action Schedule a Call with Tom
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Joining Tom in today's episode is Scott Phillips, founder of SDP, about wealth building strategies, particularly focusing on oil and gas investments. Scott shares his personal journey, insights into tax strategies, and the importance of diversification in investment portfolios. The conversation delves into the tax benefits associated with oil and gas investments, the risks involved, and the future of the industry in a changing economy. Scott emphasizes the need for careful planning and understanding one's financial situation before making investment decisions. Tune in to hear more about how tax benefits are not loopholes, but incentives.
Highlights 02:03 - Insights from owning businesses: Reducing tax concerns. 04:41 - Early exploration into oil and gas tax strategies. 06:45 - Importance of understanding tax implications in investments. 08:06 - Learning cycles of investment: Oil vs. stock market. 09:52 - Tax benefits of oil and gas investment explained. 13:08 - Why government offers tax incentives for drilling. 15:00 - Technology advancements lower oil production costs. 19:39 - Ideal times to invest in oil and gas. 22:43 - Addressing the perception of oil's future amid alternatives. 26:46 - Environmental impact and the industry's response.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Scott Phillips
- https://www.linkedin.com/in/scottphillipssdp
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In today's episode of the Perennial Pride podcast, Tom discusses different options for leveraging assets without liquidating them. He explores the use of personal credit cards, home equity lines of credit, margin accounts, and cash value life insurance as sources of capital. Tom highlights the pros and cons of each option and emphasizes the importance of being disciplined and responsible when using debt as leverage. He also emphasizes the need to be prepared and have access to cash in order to take advantage of opportunities that may arise. Tune in to hear more!
Highlights 03:00 - Building an Opportunity Fund. 03:21 - No Magic Bullet in Financial Strategies. 03:57 - Leveraging Assets Without Liquidation. 05:05 - Pros and Cons of Credit Card Use. 06:46 - Home Equity Line of Credit: A Viable Option. 09:50 - Margin Accounts: Accessing Cash Through Brokerage. 13:08 - Infinite Banking: Leveraging Life Insurance. 18:31 - Benefits of Cash and Preparedness.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In today's episode, Tom dives into the importance of wealth management, discussing key areas that are often overlooked. He covers topics like cash flow management, tax reduction strategies, evaluating fees, and the drawbacks of relying solely on banks for wealth storage and borrowing. Tune in to hear more about alternative strategies, including infinite banking, diversifying investments, and essential risk mitigation through insurance and estate planning
Highlights 01:54 - Uncovering hidden health risks. 03:05 - Financial risks beneath the surface. 04:26 - Importance of cash flow awareness. 05:09 - Diversifying streams of income. 06:34 - Tax strategies and opportunities. 07:55 - The true cost of fees. 09:22 - Rethinking the role of banks. 11:09 - Investment diversification beyond markets. 13:46 - Importance of risk mitigation. 15:56 - Estate planning for wealth transfer. 22:11 - Empowerment through financial education.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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How to Listen: Subscribe on Youtube Listen on Spotify
On this episode of Perennial Pride, Tom reconnects with longtime friend Lee Heisman, CEO of Exit Stage Left Advisors. With decades of entrepreneurial experience, Lee shares insights into helping business owners maximize the value of their business as they prepare for an exit. From his start in the printing industry to managing multiple successful ventures, Lee reflects on the importance of risk-taking, resilience, and aligning your efforts with your long-term goals. Tune in to learn about Lee's journey, the lessons he's gained along the way, and what business owners need to know when selling their companies.
Highlights 02:08 - The Value of Delayed Gratification. 03:39 - Challenging Conventional Wisdom for Success. 05:50 - Lee Heisman on Defining Personal Success. 06:34 - Transitioning from Physical Therapy to Entrepreneurship. 07:15 - Starting a Printing Business in Atlanta. 09:45 - Selling the Printing Business for New Ventures. 10:56 - The Importance of Resilience and Learning from Failures. 12:29 - Early Business Challenges: Working All Night. 14:39 - Side Hustles Need Full Dedication to Thrive. 16:19 - Balancing Different Types of Employees. 20:04 - Teaching Entrepreneurship at Kennesaw State University. 22:35 - Embracing Failure as a Learning Tool. 23:35 - Understanding Personal Risk Tolerance in Business. 26:04 - Preparing a Business for Sale. 28:55 - Importance of Business Financials and Predictability. 32:50 - Money in the Marketplace Post-COVID. 36:50 - Common Mistakes Before Selling a Business. 40:32 - Importance of Having a Generation 2 Successor. 42:39 - Horror Stories of Unprepared Sellers. 46:00 - The Joy of Helping Clients Exit Successfully.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Lee Heisman
- https://www.linkedin.com/company/exitstageleftadvisors/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this final episode with estate attorney Alessandra Long, they explore the complexities of asset protection and tax planning. Together, they provide an overview of how to safeguard your wealth from risks and taxes, while ensuring a smooth transfer to future generations. They discuss strategies like irrevocable trusts, life insurance trusts, and charitable giving options. Tune in to learn more about protecting your assets and securing your legacy.
Highlights 05:10 - Reduced estate tax exemption impact 09:00 - Revocable vs. Irrevocable trusts overview 11:18 - Irrevocable Life Insurance Trust (ILIT) explained 18:12 - Charitable Lead Trusts vs. Charitable Remainder Trusts 21:00 - Grantor Retained Annuity Trust (GRAT) benefits
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect Alessandra Long
- aml@amlonglaw.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this episode of the Perennial Pride podcast, host Tom Suvansri welcomes back state attorney Alessandra Long for part three of their estate planning series. They dive into crucial topics like powers of attorney, healthcare directives, and living wills. Alessandra explains the importance of setting up these documents before a crisis strikes, offering practical advice on how they can protect you and your loved ones. Tune in to learn how to ensure your wishes are respected and avoid the stress of legal complications during tough times.
Highlights 03:08 - Importance of Durable Power of Attorney 06:50 - Springing Power of Attorney Explained 12:30- Short vs. Long Form Power of Attorney 15:10 - Potential Situations for Power of Attorney Use 20:59 - Choosing Agents and Trust Issues 23:19 - Introduction to Health Care Directives 24:40 - Distinction Between Living Will and Last Will 29:10 - Importance of Living Wills in Estate Planning 35:19 - Encouraging Family Discussions on Estate Planning
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect Alessandra Long
- aml@amlonglaw.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this episode, Tom Suvansri welcomes back estate planning expert Alessandra Long for a deep dive into the essentials of wills and trusts. Following their initial discussion on estate planning basics, Tom and Alessandra explore the key elements of wills, from the different types to the importance of having one in place, no matter your life stage. They also break down trusts, explaining their purpose, how they can benefit even those without vast wealth, and why funding a trust is crucial. This episode offers practical advice to demystify estate planning, helping listeners understand how to secure their financial legacy.
Highlights 01:50 - Importance of wills and why they matter. 02:44 - Explanation of what a will is and its key components. 04:53 - Types of wills and their specific purposes. 06:31 - Why having a will could simplify estate management. 10:39 - The role of a will in managing the estate of young adults. 11:59 - Misconceptions about the cost of setting up a will. 18:20 - Significance of updating your will as life changes. 21:51 - Common scenarios necessitating a will, including second marriages and special needs children. 27:16 - The reason behind creating trusts for minor children. 30:31 - Detailed insight into revocable living trusts. 36:34 - Understanding the process and timeline involved in probate. 37:39 - The financial and emotional burden associated with probate. 41:29 - How proper planning can alleviate the probate process.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect Alessandra Long
- aml@amlonglaw.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom today is Russ Morgan, co-founder of Wealth Without Wall Street where he shares his journey from being a financial planner to building passive income streams. He emphasizes the importance of aligning your financial goals with your personal desires and values. Russ discusses the three-step process of achieving financial freedom: setting clear goals, building a plan and pathway, and finding the right support and community. He also highlights various passive income strategies, such as short-term rentals, land flipping, online businesses, syndications, and more. Tune in to hear more about this exciting episode!
Highlights 03:49 - The 2008 financial crisis wake-up call 05:25 - The journey to becoming your own banker 07:00 - Admitting to clients that I was wrong 11:03 - Imagination: A critical tool for financial freedom 13:00 - Setting clear and personal financial goals 15:00 - Calculating financial freedom using passive income vs. expenses 21:55 - Building a supportive community for financial freedom 32:10 - Learning and adopting new passive income strategies 33:30 - Exploring different personality-aligned investments with the Investor DNA matrix 36:00 - Real-life application: Success in short-term rentals 40:00 - Real-world example: Young professional building income through land flipping 45:00 - Various passive income streams explored: Short-term rentals, land flipping, online businesses
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this episode, Tom dives into the current economic uncertainties and shares insights on how the wealthy manage and grow their wealth in volatile times. Drawing lessons from the Tiger 21 group, he explores the importance of private equity, real estate, and taking control of your investments. He also emphasizes the value of personal development, skill building, and networking. Whether you're a business owner or working a 9-to-5, this episode offers actionable advice on how to assess your financial strategy, find new opportunities, and make informed decisions for long-term wealth growth.
Highlights 00:33 - Market uncertainty and current financial climate 02:10 - The typical mainstream financial advice 04:15 - Introduction to Tiger 21 Group 05:26 - Tiger 21’s “Hot Seat” practice for wealth strategy review 06:33 - Emphasis on philanthropy in Tiger 21 07:45 - Tiger 21 Group’s investment allocation report 08:50 - Comparison between average American investments and Tiger 21 allocation 09:45 - Details on Tigere 21’s private equity and real estate investments 10:53 - Importance of diversification in wealth strategies 12:12 - The hierarchy of wealth and its foundation 14:03 - Role of whole life insurance in wealth strategy 17:20 - Investment in things you can control 18:49 - Value of public equities from a Tiger 21 perspective 20:38 - Importance of personal development and direct ownership 22:10 - Risk mitigation through strategic ownership and control 23:53 - Remaining adaptable in the face of fiscal policy changes 25:30 - Importance of cash reserves and liquidity 27:00 - Opportunities in real estate during economic cycles 29:10 - Networking and learning from others 30:45 - Example of humility and open-mindedness from Tiger 21
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's final episode of this mini series with Joe DeFazio, we continue to explore the tax system and how it can be leveraged to build wealth and support our families. We discuss the often overlooked positive aspects of the tax code and how understanding it can open doors to financial opportunities. From business incentives to investing in energy and real estate, we delve into the strategies that allow you to legally reduce your tax burden while contributing to society. Whether you're just getting started or looking to deepen your knowledge, this episode is packed with insights to help you make the most of your financial journey.
Highlights 01:01 - The power of learning and teaching through podcasts. 03:22 - Taxes: A significant lifetime expense. 04:20 - Introduction of Joe Difazio and his credentials. 06:53 - 10th Street Capital and its services. 08:17 - His journey in life insurance and financial planning. 11:41 - The 1913 inception of the modern tax code. 16:25 - Evolution of the tax code: Creeping complexity. 20:15 - The dilemma of marginal tax rates. 23:54 - Introduction to the Infinite Banking Concept (IBC). 25:57 - Distinction between IBC and whole life insurance. 28:59 - Cash value and contractual obligations in whole life insurance. 33:54 - Dividends and paid-up additions (PUAs). 36:21 - Lending against guaranteed increasing collateral. 38:50 - Flexibility and control in using life insurance loans. 42:56 - Reducing opportunity cost: Recouping through loans. 47:41 - Structuring retirement income: Dividends and PUAs. 53:00 - Tax-free death benefit and state tax implications. 56:09 - Attacks and potential changes to tax treatment on life insurance. 1:01:10 - Emphasizing control and understanding opportunity costs.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joseph DeFazio
- https://www.10thstreetcapital.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, we welcome back our friend Joe DeFazio, an enrolled agent and financial advisor, as we continue part two of our journey into understanding the tax code. We're on a mission to demystify taxes and show how the system can work for you, not against you. In this episode, we focus on the individual employee and families, laying the groundwork for how the tax code impacts everyday life. We dive into how taxes are used as incentives by the government and explore the key deductions, adjustments, and credits available to help you save as well as 529 plans. Whether you're an employee raising a family or simply navigating your finances, this episode will shed light on the tax strategies you can use to your advantage
Highlights 00:21 - Demystifying the Tax Code 02:16 - Role of the Tax Code in Incentivizing Behavior 05:46 - Key Tax Benefits for Employees and Families 11:13 - Understanding Tax Credits, Deductions, and Adjustments 18:32 - Importance of Itemizing Deductions 22:19 - Identifying Common Tax Benefits for Individuals 32:00 - The Complexity of Traditional vs. Roth 401(k) 35:50 - Historical Context of 401(k) Plans 38:02 - The Risk of Future Tax Rates 41:20 - Provisional Income and Social Security Tax Implications 52:25 - Introduction to 529 Plans for College Savings 56:25 - Potential State Tax Deductions for 529 Contributions 1:00:29 - Documenting Expenses for Tax Benefits
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joseph DeFazio
- https://www.10thstreetcapital.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Welcome to the first episode of our mini-series on personal finance, where we delve into the essential topics that impact your financial freedom. In this kickoff episode, we explore the complex world of taxes with expert Joseph DeFazio, an enrolled agent with deep knowledge of the tax code. Together, we'll demystify the tax system, starting with the basics and gradually uncovering strategies to help you legally mitigate your tax burden. Whether you're an employee, self-employed, a business owner, or an investor, this series will provide valuable insights to help you maximize your wealth and achieve the financial freedom you deserve. Tune in and start your journey towards financial empowerment today.
Highlights 00:12 - Taxes as a tool for personal financial freedom. 00:25 - Wealth as a means to live your best life. 05:30 - Importance of understanding taxes and foundational series goal. 06:00 - Historical perspective: Taxes in America, 1862-1913. 10:15 - The concept of legal tax avoidance. 15:00 - No obligation to pay maximum tax. 17:20 - Four main reasons for taxes: influence behavior, control inflation, redistribute wealth, fund government spending. 23:30 - Types of income and tax codes. 26:15 - Explanation of the cash flow quadrant: Employee, Self-employed, Business owner, Investor. 32:30 - Tax benefits for business owners and investors. 38:30 - Importance of understanding the tax framework. 42:00 - Encouragement to get educated about personal finances.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joseph DeFazio
- https://www.10thstreetcapital.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Join Tom in this episode as he shares his personal journey into real estate investing. From starting out nearly a decade ago to navigating the challenges and successes of his first property, he offers valuable insights and lessons learned. Whether you're considering diversifying from equity markets or curious about active real estate investment, this episode provides a candid look at the process, strategies, and mindset needed to succeed. Tune in for practical advice, real-life experiences, and tips on how to get started in the real estate game.
Highlights 02:08 - Importance of Education and Continuous Learning 03:55 - First Steps into Real Estate Investing 05:57 - Exploring Different Real Estate Investment Approaches 08:52 - The Critical Role of Networking in Real Estate 13:35 - The Journey to First Property Acquisition 16:26 - Overcoming Initial Challenges in Renovation 22:13 - Realizing the Importance of Property Management 28:12 - Handling Unexpected Complications with Tenants 34:10 - Utilizing the Buy, Renovate, Rent, Refinance Method 44:40 - Evaluating Investment Property Value over Time 49:20 - Importance of Multiple Exit Strategies 54:39 - Key Learnings: Education, Team, and Overcoming Challenges
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom dives into the essence of maximizing our most precious resource: time. Inspired by Dan Martel's book "Buy Back Your Time," Tom explores strategies for entrepreneurs and individuals alike to leverage their time effectively. He covers the concept of the "ignorance tax" and emphasizes continuous education, leveraging other people's skills, and utilizing technology and tools for efficiency. Tune in for practical tips on accelerating your wealth, finding fulfillment, and ensuring you spend your time on what truly matters.
Highlights 01:31 - The Scarcity of Time: Our most precious resource. 02:18 - The Ignorance Tax: Cost of not continuing education. 03:08 - Maximizing Fulfillment: Using time for what matters most. 05:57 - Leverage: Concept introduction. 06:58 - Using Other People’s Money: Accelerating wealth. 08:52 - Continuous Learning: Education beyond formal settings. 12:29 - Leveraging Other People: Utilizing team strengths. 16:39 - Utilizing Tools: Planning and technology for efficiency. 18:11 - Calendar Blocking: Improving productivity through focused time. 22:26 - Incremental Progress: Compounding improvements over time.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Explore the practical side of the infinite banking concept in our latest episode. We break down how specially designed whole life insurance policies can act as flexible financial tools, much like owning a home. Understand the pros, cons, and real-life applications to gain financial control!
Highlights 01:04 - Overview of Whole Life Insurance Policies 05:32 - Mortgage Process vs. Life Insurance Underwriting 08:02 - Comparison of Payments: Mortgage vs. Life Insurance Premiums 10:04 - Guaranteed Rate of Return in Whole Life Insurance 12:11 - Accessing Equity: Home Equity Loans vs. Insurance Policy Loans 14:44 - Disability and Death Benefits in Mortgage vs. Life Insurance 16:14 - Additional Benefits: Long-term Care and Terminal Illness Coverage 18:26 - Retirement Planning: House Sale vs. Life Insurance Withdrawals 20:37 - Flexibility and Tax Advantages of Life Insurance
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this episode of the Perennial Pride podcast, Tom welcomes Joseph DeFazio, founder of 10th Street Capital. They dive into the powerful potential of whole life insurance, explaining how it can serve as a "family bank" or "infinite bank" throughout different life stages. Learn more about the guaranteed cash value, the role of dividends, and the steady growth designed into these policies. Join Tom and Joseph for a concise breakdown of how whole life insurance can provide control, security, and growth for your financial future.
Highlights 01:12 - Importance of taxes in financial planning. 04:56 - Joe’s career journey and establishment of 10th Street Capital. 06:09 - Importance of continual learning. 07:42 - History and evolution of the tax code. 12:30 - Various ways the government can increase taxes. 19:41 - Leveraging whole life insurance in the context of infinite banking. 25:01 - Tax implications of contributions and cash value growth. 33:41 - Using life insurance dividends and paid-up additions. 40:11 - Importance of understanding opportunity cost. 46:59 - Utilizing life insurance for retirement income. 51:39 - Estate planning and tax benefits with life insurance.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joseph DeFazio
- https://www.linkedin.com/in/josephpdefazio
Call to Action Schedule a Call with Tom
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In today's episode, Tom welcomes special guest Clive Davis, founder of Park Royal Capital, a private equity firm specializing in multifamily real estate. Clive shares his fascinating journey from a corporate transactional lawyer on Wall Street and a compliance officer in the pharmaceutical industry to a full-time real estate investor and entrepreneur. Join us as Clive discusses the challenges and triumphs of his transition, his strategic approach to real estate investing, and his passion for creating generational wealth. Get ready for an insightful conversation about the realities of pursuing financial freedom and entrepreneurship.
Highlights 00:27 - Clive’s professional background in law and pharma. 01:59 -Transition from corporate to full-time real estate. 05:54 -The importance of creating generational wealth. 09:02 - Challenges with international travel and family time. 11:48 - Motivation behind pursuing financial freedom. 15:02 - Adjusting from a regular income to entrepreneurship. 18:17 - Difficulties in securing a cash-out refinance without a W-2. 27:11 - Clive’s first major real estate deals. 32:57 - Shift in investment strategy and market adaptation. 35:05 - Navigating today’s market with higher interest rates. 37:40 - Benefits of having cash on hand in uncertain times. 41:40 - Clive’s advice on running personal finances like a business.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Clive Davis
- clive@parkroyalcapital.com
- https://parkroyalcapital.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today, Tom explores the impactful four C's framework from Dan Sullivan's Strategic Coach program: Commitment, Courage, Capability, and Confidence. These simple yet powerful steps can help you achieve success in any area of life. Join me as we uncover how to stay committed, find the courage to face new challenges, build capabilities, and ultimately gain the confidence to succeed. Tune in, share with friends, and let's embark on this journey of growth together!
Highlights 03:59 - Introduction to the Four Cs. 05:47 - The importance of commitment. 07:09 - Embracing discomfort. 08:49 - Building expertise through courage. 10:20 - Developing capabilities in new areas. 11:33 - Personal anecdote about real estate meetup. 14:15 - The journey of continuous learning. 16:53 - Encouragement to escape the proverbial trap. 17:54 - Recap of Four Cs: commitment, courage, capability, and confidence.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom welcomes back Alpesh Parmar, founder of Wealth Matters and author of "Resilience: Turning Your Setback into a Comeback." Alpesh shares updates on his latest project, a children's book titled "Growing the Money Tree," designed to teach kids aged 8-12 about money, finance, and investing. They discuss the importance of financial education for young minds, the challenges of simplifying complex topics, and how to instill long-term thinking in children. Tune in to learn valuable insights and practical tips on educating the next generation about financial literacy.
Highlights 04:19 - Covid’s impact on family dynamics and career. 04:49 - Launching “Growing the Money Tree for Kids.” 09:31 - Inspiration behind the new book project. 15:07 - Making financial education relatable for kids. 19:58 - Importance of understanding passive income. 22:30 - The iterative process of writing the book with children. 25:18 - Significance of launching the book for summer learning.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Alpesh Parmar
- https://amzn.to/4azyfW9
- alpesh@wealthmatrs.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom is joined by estate attorney Alessandra Long where they discuss the importance of estate planning for financial security and peace of mind. Joins them as they explore the basics of wills, trusts, and essential roles like executor, trustee, and guardian. Tune in to learn more about estate planning and feel empowered to make informed decisions for your future.
Highlights 01:15 - Importance of Estate Planning 03:40 - Tax Day Coincidence 05:40 - Early Realization about Estate Messes 08:59 - The Hassles of Guardianship After Death 11:25 - Key Elements of an Estate Plan 12:50 - Healthcare Directives and Durable Power of Attorney 15:35 - Importance of a Living Will 19:35 - Comparing Will vs. Revocable Living Trust 22:34 - Mention of Testamentary Trust Pitfalls 26:51 - Benefits of a Pour-Over Will 31:45 - Role of Financial Advisors in Estate Planning 34:00 - Understanding the Important Roles: Executor, Trustee, Guardian 38:49 - Corporate Trustees and Professional Help 43:20 - Reviewing Estate Plan Every 3-5 Years 45:30 - Importance of Elderly Parents’ Estate Plans 51:20 - Emphasis on Getting Started Early with Estate Planning
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Alessandra Long
- aml@amlonglaw.com
- https://amlonglaw.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom in an enlightening conversation with Becca Wilhite, an authorized infinite banking practitioner, as they explore the revolutionary concept of infinite banking. Becca shares her journey from skeptic to believer and delves into the intricacies of using whole life insurance policies to achieve financial freedom. Discover how infinite banking can empower you to take control of your finances, build assets, and unlock new possibilities. Tune in to learn how this unconventional approach to finance can transform your wealth management strategy.
Highlights 04:19 - “Dead on arrival” perception of whole life insurance. 05:46 - Light bulb moments during COVID research. 06:51 - The revelation: whole life insurance benefits. 09:30 - Misconceptions about debt and cash payments. 11:19 - Rethinking debt through the Infinite Banking lens. 16:48 - Skepticism of mainstream financial advice. 19:32 - Personal experience with Roth IRA vs. IBC. 20:55 - The average vs. actual rate of return. 23:39 - Sharing Infinite Banking with clients. 26:16 - Conversations with children about finance. 29:32 - The concept of generational wealth. 32:17 - The story behind "Beaver Bankers" 35:46 - Illustrating financial concepts through beavers.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Becca Wilhite
- https://www.salientsolutionsibc.com/
Call to Action
- Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today, Tom offers a comprehensive exploration of the pros and cons of the Infinite Banking Concept. From tax advantages and guaranteed growth to asset protection and legacy planning, Tom breaks down the complexities of utilizing whole life insurance policies for cash storage and management. Discover how the IBC philosophy can provide stable capital storage, tax advantages, and legacy planning opportunities, while also navigating the upfront costs, qualification process, and potential complexities associated with this unique financial approach. Whether you're new to infinite banking or seeking deeper insights, join Tom as he sheds light on whether this strategy is the right fit for you.
Highlights
- 1:08 - Access to the Cash Value in Policies.
- 1:29 - Legacy Planning and its Impact.
- 9:46 - No Perfect Asset: Everything Has Pros and Cons.
- 10:02 - Cons of the Infinite Banking Concept: Higher Upfront Costs.
- 11:40 - Health Qualifications for Policy Approval.
- 12:45 - Complexity and Understanding Policy Design.
- 14:14 - Misconceptions about Whole Life Insurance as an Investment.
- 15:53 - The Risk of Policy Lapse and Required Discipline.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube
Subscribe on Spotify
Join Tom as he dives into the world of real estate investing with his special guest, Dr. Allen Lomax, CEO and investor relations manager at Stee Talker Capital. Dr. Lomax shares his journey from a challenging start to finding success in real estate investing. From house hacking to multifamily investments, learn valuable lessons and insights to enhance your own financial journey. Don't miss out on this opportunity to expand your knowledge and gain inspiration from experts in the field.
Highlights 02:12 - Overcoming the label of "slow learner" due to dyslexia. 02:52 - Major wake-up call at age 38 leading to self-improvement. 06:17 - The financial consequences of the 2008 recession. 07:10 - The journey to educational and self-improvement following significant loss. 14:15 - Choosing multifamily investing for quicker financial recovery. 16:10 - Making the shift from active to passive investing via capital raising. 19:56 - Networking through podcasting and joining a mastermind group. 22:59 - Focusing on growth areas in the Southeast for multifamily investment.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Dr. Allen Lomax
- steedtalker@gmail.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom and Ed Mathews discuss real estate investment and entrepreneurship. Ed shares his journey from corporate life to president of Clark Street Capital, specializing in helping professionals grow retirement nest eggs through real estate. They cover overcoming fear, building wealth, and transitioning to successful real estate investing. Ed highlights Clark Street Capital's approach to acquiring value-add properties and improving resident experience while maximizing profitability. Tune is for valuable insights for anyone looking to venture into real estate investment!
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Ed Mathews
- https://www.clarkst.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today's insightful episode comes from Tom and philanthropic coach Barron Damon. With over 20 years of experience in the nonprofit sector, Baron shares his expertise on charitable giving and maximizing the impact of your contributions. Learn how to uncover your philanthropic why, develop a strategic giving plan, and make a lasting difference in your community. Tune in for insightful conversations on building wealth beyond financial investments and leaving a legacy that transcends generations.
Highlights 02:39 How Barron came into the space of philanthropy 07:40 The process of finding a personal philanthropic purpose (referred to as the "why") and the decision-making about where to give money 12:05 How he helps charitable organizations and filling in the philanthropic why 17:18 The importance of using time, talent, and treasure (money) in charity and a personal illustration of a man using his passion and talent to impact kids' lives 20:03 Why it’s important to hire a coach 23:02 The equation he developed linking time, effort, and impact to leaving a legacy 28:22 Initial tools to use to get started 31:12 Potential benefits of engaging philanthropy in businesses and how it can boost employee engagement, attract potential employees, and align a company with a charitable cause
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Barron Damon
- https://businessoflifecc.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom discusses the five fundamental rules of the Infinite Banking Concept, offering insights and perspectives on long-term thinking, capitalization, avoiding pitfalls, and redefining financial paradigms. Whether you're a seasoned investor or new to the concept, this podcast promises to enlighten and empower you on your journey to financial freedom. Tune in now and discover the path to building generational wealth with the Infinite Banking Concept.
Highlights 02:40 How the infinite banking concept hits on things beyond just money 03:09 First rule of the infinite banking concept: Think long-term 06:13 Second rule of the infinite banking concept: Don't be afraid to capitalize 08:57 Third rule of the infinite banking concept: Don't steal the peas 11:26 Fourth rule of the infinite banking concept: Don't do business with banks 13:36 Fifth and final rule of the infinite banking concept: Rethink your thinking
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom today is seasoned real estate veteran Gary Wilson with over 30 years of experience. They talk about Gary's journey from starting out at 23 years old to becoming a self-made millionaire and retiring from the corporate world at 40. He shares invaluable insights and practical wisdom on building a successful real estate portfolio, utilizing strategies like assuming mortgages, creative purchasing, and the stair-step approach to scaling investments. Whether you're a seasoned investor or just starting out, this episode is packed with actionable advice and inspiring stories that will empower you on your journey to financial independence. Tune in now and discover the secrets to achieving massive passive cash flow and unlocking your true potential in real estate investing.
Highlights 01:13 The importance of providing actionable steps for the audience 05:54 The process of buying his first property and how difficult it was 12:52 Learning methodology, especially for new real estate agents and brokers 16:56 Value of using a line of credit instead of a fixed loan, and how he used his cash flow to reinvest and increase his portfolio 21:08 The various creative purchasing strategies he's used in his real estate journey 26:13 Dealing with the different tools of life insurance 30:03 Significance of resilience and commitment in handling business affairs especially during difficult times 32:38 The different variables to getting started 35:30 Where to find Gary and learn more about him and his teachings
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Gary Wilson
- https://www.myinvestmentservices.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Welcome to today's podcast, where empowerment meets impact. Join Tom as he explores the transformative power of mindset and entrepreneurship with special guest, Bogdan Rosu, all the way from Romania. As they dive into Bogdan's journey from martial arts to coaching, they uncover the secrets to building wealth and success while staying grounded in purpose. Discover how embracing your true passion and vision can lead to a life of fulfillment and positive impact. From overcoming self-doubt to redefining wealth, this conversation is sure to inspire and empower you on your own path to greatness.
Highlights 02:33 Childhood experiences and their influence 06:27 Connecting martial arts with personal development 13:10 Steps to becoming an entrepreneur 23:27 The human nature to challenge and grow and how uniformity can lead to stagnation and boredom 25:24 Ways to impact the life of others as an entrepreneur 27:13 The idea of being okay without wealth and the importance of appreciating life in general 33:48 Entrepreneurship and the mental game involved in achieving success 37:49 What is stopping people from being successful 42:31 The importance of the right mindset 46:54 The shared goal of helping others grow and flourish
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Bogdan Rosu
- https://bogdanrosu.biz/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Recently returning from The Infinite Banking Concept Think Tank, Tom shares his insights and key takeaways from this annual conference. He reflects on the importance of thinking long-term, capitalizing wisely, and avoiding common pitfalls in financial management. Discover how the Infinite Banking Concept empowers individuals to take control of their wealth, create certainty in uncertain times, and build a legacy for future generations. If you're ready to harness the power of infinite banking, this podcast is your guide to smoother sailing toward financial success.
Highlights 02:24 - Discusses the five key rules of the Infinite Banking Concept. 03:58 - Explanation of the importance of capitalizing in the context of Infinite Banking. 05:16 - The analogy of "don't steal the peas" and its relevance in personal finance. 06:20 - The concept of reducing reliance on conventional banks. 07:40 - The significance of rethinking your approach to banking and finance. 10:39 - Infinite Banking as a lifestyle and as a means of more efficient wealth management. 12:40 - The benefits of the Infinite Banking Concept in the face of economic uncertainty and inflation. 15:19 - The concept of creating tailwinds in wealth building. 16:41 - The power of continuous learning and growth. Who the Infinite Banking Concept is for.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
For today's podcast, Tom is joined by special guest John Papaloni. They dive into John's entrepreneurial journey, from being a DJ to founding multiple businesses, including an eight-figure print and marketing company. John shares his insights on self-awareness, financial preparation, and the importance of balancing passion and profitability in the world of entrepreneurship. Learn from his experiences and discover the keys to success on your own entrepreneurial path. Don't miss out on this valuable conversation!
Highlights 04:30 How Tom started his journey of owning multiple businesses 06:12 The balancing act between taking action quickly and taking time to think things through 14:08 Pursuing passion versus pursuing a realistic opportunity in entrepreneurship 17:56 Realizing something is not working for you anymore 24:10 Prediction of future economic problems due to companies being over leveraged and the importance of small businesses being financially ready 36:03 Introduction of the idea of a "not to do list" to help with gaining clarity and improving focus 38:51 The importance of accepting life's hardships and victories as part of a personal journey that contributes to personal growth 39:04 Encouragement for listeners to become self-aware, recognize their uniqueness and constantly strive for growth 39:58 How to reach out to John
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with John Papaloni
- https://www.johnpapaloni.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Join Tom for an enlightening episode featuring Toby Mathis, an attorney, entrepreneur, author, and tax expert. Toby shares his journey from humble beginnings to becoming a founding partner of Anderson Law Group. They discuss the keys to financial freedom, including the importance of diverse income streams, leveraging assets, and comprehensive financial planning. Whether you're a seasoned investor or just starting your financial journey, Tom and Toby's insights will inspire you to take control of your finances and create a lasting legacy. Don't miss this opportunity to learn from a true expert and achieve your financial goals.
Highlights 03:23 Importance of small businesses and investors for Toby's development 07:15 Toby's approach to learning from successful investors 09:29 The consequences of a lack of financial knowledge and the burden of debt 17:35 Concept of leaving a financial legacy for future generations 21:26 The importance of financial learning and how diversifying funds can serve one in various ways 25:40 The value of establishing a diverse portfolio that considers a multitude of income streams for lasting financial success 29:37 The victim mentality in financial failures using the example of Bernie Madoff’s fraudulent scheme where many individuals lost their entire savings 33:11 The A-type personalities of business owners and how he’s enjoyed seeing people take ownership of their financial futures 38:18 Identifying the potential for high returns in areas where problems like housing shortages are being solved 40:09 Being prepared for investment opportunities by identifying accessible capital ahead of time 41:16 How to take advantage of the educational resources available
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Toby Mathis
- tmathis@andersonadvisors.com
- www.tobymathis.com/podcast/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom is Jermane Cheathem, founder of Creators Learn. In this episode, they explore the power of gratitude and leveraging opportunities for success, Discover the importance of appreciation and how it fuels your entrepreneurial spirit. They also dive into the concept of leverage and how it can transform your business and life. Tune in for insights and inspiration on creating a life filled with gratitude and maximizing your potential.
Highlights 02:17 The societal benefits of sports and the personal growth it offers 04:54 How he got started in business 07:31 Freedom and the importance of action in pursuing it 13:36 How the transition happened for Jermane 16:02 The process of business development and growth 19:01 What leverage means and how you can use it in your business and personal life 22:46 Importance of gratitude and appreciation as fuels for entrepreneurs and salespeople 28:02 Kinds of people that Jermane usually work with 30:20 Simplicity and minimalist approach as an entrepreneur for maximum effectiveness and efficiency 31:30 Things he’s hyper focused on for building his success and wealth 32:42 Experiment about productivity and resistance levels first thing in the morning
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jermane Cheathem
- hello@creatorslearn.com
- https://creatorslearn.com/
- https://www.linkedin.com/in/jermane-cheathem
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom today is special guest Logan Freeman, Principal Co-Founder of FTW Investments. He shares his incredible journey from farm work to NFL dreams, and how he found success in real estate. Together, they emphasize the importance of perspective, hope, and leadership in achieving your goals. Whether you're an active or passive real estate investor, this episode offers valuable insights for your financial journey. Don't miss it!
Highlights 02:10 Logan Freeman shares his early work experience in farm fields and his initial introduction to money-making 07:14 His transformation into an entrepreneur, his family life and physical achievements 11:51 Advise to not tie self-worth to the results in life and to work consistently for long-term results 19:22 His purpose of positively impacting as many lives as he can and leading others to maximize their potential 21:58 His focus on real estate as an alternative investment and touches on the size and significance of commercial real estate as an asset class 26:29 The geographical diversification of investments and the importance of capitalizing on areas offering feasible cash flow 36:50 The emotional aspect of investing 37:33 The unpredictability and high level of competition in football, mirroring investing
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Logan Freeman
- logan@ftwinvestmentsllc.com
- https://ftwinvestmentsllc.com/
- https://www.linkedin.com/in/livefreeinvestments
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this episode, Tom explores life and financial lessons through classic board games like Life, Monopoly, and Cashflow Classic. Discover the valuable insights these games offer, from financial education to building assets and achieving financial freedom. Join Tom on this entertaining and educational journey down memory lane. Share this episode with others, and stay tuned for more empowering discussions on Perennial Pride.
Highlights 01:19 The game of following the leader in personal financial space and its drawbacks 04:18 Ways to regain control over personal finances and life 06:21 Reflections on upbringing and the lack of financial discussions 08:06 Understanding the concept of speculation rather than investing through Game of Life 09:51 Building assets and practicing delayed gratification to win Monopoly: Key to succeed in life 10:33 The importance of building assets via Monopoly 13:49 Values financial education as emphasized in Cashflow Classic 15:18 The mindset of deferring life and the need for immediate financial freedom 16:22 The need for financial education to live a fulfilling life
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
- Schedule a Call with Tom
How to Listen:
- Subscribe on Youtube
- Listen on Spotify
Today's episode welcomes special guests Jen and Stacy Conkey, the founders of the Remote Multifamily Investing Academy. With over 20 years of entrepreneurial and real estate experience, they share their journey from corporate America to property investment and multifamily real estate. Discover the advantages of multifamily investments, such as cash flow and equity growth, and their commitment to creating passive income for a better lifestyle and lasting memories. Join Tom for this insightful conversation on real estate investing and financial freedom.
Highlights 02:04 How Stacy left her corporate America job early to jump into real estate, a decision that presented its share of challenges 06:23 Jen’s regret in not holding onto her first flipped property, seeing the potential she missed as the property increased in value over time 10:42 How increasing income from a property can significantly raise its value, creating more equity 16:34 Stacy’s passion for teaching new investors, focusing on conveying the necessary knowledge and confidence to get started 19:22 How the Academy caters to both active investors and those who want to invest but need help 27:22 The potential to have more control over real estate investments compared to stock market investments 29:29 How to be successful with remote investing 37:34 Overcoming fear as the potential wealth that could be gained over the years is substantial
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jen & Stacy Conkey
- stacy@rmfiacademy.com
- https://rmfiacademy.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom dives into the unpredictability of life, from tragic accidents to unexpected health crises. He discusses the importance of preparation, inspired by the wise words of Seneca and Ben Franklin. Join Tom as he explores the three crucial steps to secure your future – protection, time management, and taking action. Tune in to discover how you can take control of your life, regardless of the uncertainties that lie ahead.
Highlights 02:11 The uncertainty of life and why it is important to make choices depending on the information available, and have the ability to allow ourselves to make mistakes and learn from them 03:58 The Buddhist principle of impermanence and how it can be applied to increase strength and resilience during uncertain times 06:02 Legacy and how you can be remembered by those in your life 07:52 Getting financial affairs in order, including organizing all accounts and assets, and having an estate plan in place 10:43 The kind of legacy you would like to leave and to take steps to make that a reality 12:15 Being true to yourself, the value of maintaining relationships, and the importance of expressing feelings based on the book 'The Five Regrets of the Dying' 14:30 Small steps to bring positive changes in life and to reduce any prospective regrets.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom on this monumental 100th episode is Mike Brevik, founder of Cyberdogz Marketing and part of the driving force to help launch the Perennial Pride podcast. They discuss the evolution of topics, and share their passion for learning and sharing valuable insights. Tom and Mike share their thoughts on the real-life experiences that shape a podcast's content. Join them as they explore the endless possibilities of personal growth, financial wisdom, and the pursuit of a meaningful life.
Highlights 01:28 Evolution and experiences learned throughout the podcast journey 03:53 Challenges to keep the podcast within specific themes 07:00 The power of longevity in content like Bruce Lee's interview on water 12:43 Podcasts being a useful medium to promote and share authentic perspectives and philosophies 17:56 What is needed for future podcast episodes 20:59 Focusing on what we can control in our lives and relationships for absolute certainty and maximum impact 23:33 The future scope of the podcast that will focus on personal finances and the impacts of our actions on the world 24:45 The experiences and challenges encountered in transitioning from corporate to entrepreneurial life 26:15 The power of sharing and kindness, emphasizing on the promise of authenticity 27:08 Life as a team sport that requires support from others
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Mike Brevik:
- www.brandretro.com
- http://www.cyberdogzmarketing.com/
- mike@cyberdogzmarketing.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom is joined by Parker Pursell, the President at EQRP, a financial services company dedicated to helping individuals build freedom in their wealth and lives. Parker shares his unique journey from working at Chick-fil-A to becoming a key player in the world of finance. Tune in to hear how Tom and Parker encourage individuals to take control of their financial future and learn about smart investment strategies.
Highlights 01:36 The path of success for Parker Pursell 04:42 How Parker became the president at EQRP and how he dedicates his work to facilitating freedom in financial pursuits 06:20 What EQRP is 11:40 The difference between EQRP and the traditional retirement system 15:32 Different things that people can invest in, other than the stock market 19:20 What’s unique about EQRP for business owners 22:21 The built-in asset protection in EQRP 28:19 The legalities of EQRP and whom the service is not for 35:13 Four pillars of EQRP 38:18 How to reach out to Parker Pursell
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Parker Pursell
- parker@eqrp.com
- https://eqrp.com/
- https://www.linkedin.com/in/parker-pursell
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Listen in as Tom delves into the core virtues of courage, temperance, justice, and wisdom and how they can transform your life and financial journey. He reflects on the importance of these virtues in personal growth, building wealth, and making a positive impact on others. Discover how embracing these virtues can lead to a more fulfilling and meaningful life. Tune in for insights and inspiration on living a life of purpose and prosperity.
Highlights 01:18 Tom’s personal journey and fascination with the philosophy of Stoicism 02:07 The concept of living virtuously as per Stoicism and how it relates to overall life fulfillment and financial control 03:06 The four key virtues of Stoicism 07:13 The virtue of courage to try new things and take risks 08:28 Temperance: Moderation and balance that are crucial for facing unexpected life and financial events 11:18 The virtue that is centered around service and how it impacted Tom’s life 14:36 Wisdom, considered as knowledge and self-reflection, that resonates with time and experience, is deemed essential for lifelong learning and financial ownership
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Take a listen as Tom welcomes special guest Jesse Raynes, Managing Partner at Inception Financial. They dive into innovative wealth-building strategies that you won't find elsewhere. Jesse's career evolution from Hollywood actor to solar executive has paved the way for a unique approach to tax mitigation and generating yield. Explore how this turnkey opportunity lets you repurpose existing expenses into assets that not only save you money but also provide significant tax advantages and potential cash flow.
Highlights 01:28 Jesse’s background of the solar industry, its growth, and work in selling assets off to large institutional buyers 04:49The state of the solar industry and its projected growth 07:38 Benefits of Inception Financial's service for mid to high net worth clients 11:30 How Inception Financial ensures clients can meet their requirements 14:19 Shifting money for tax payments into asset purchasing 20:40 Addressing concerns around the risk of an IRS audit when investing in their strategy 22:24 The importance of keeping an open mind when exploring investment opportunities 24:46 Best ways to reach out to Jesse and more about Inception Financial
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jesse Raynes
- https://www.inception.financial/
- https://www.linkedin.com/in/jessedraynes
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom shares practical insights for reshaping your wealth journey. Discover the importance of generating cash flow and explore tips for investing in yourself, diversifying income sources, and optimizing tax strategies. Unlock a prosperous financial future with a fresh perspective on wealth-building.
Highlights 01:23 The necessity of money for financial freedom and quality of life 04:09 Tom’s personal views on the need for combining long-term investing with living in the present and generating immediate cash flow 05:50 How you can buy back more of your time using your assets 07:12 The value of investing in developing new skills and areas of knowledge 11:50 Benefits and challenges of direct real estate ownership 13:07 The importance of efficient tax planning to keep more of your wealth 15:09 The shift in mindset from building net worth to creating income streams
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Welcome to today's podcast! Tom welcomes franchise consultant Kim Daly to the show. They share their common ground in parenting and the pursuit of opportunities for change. Kim's journey from a nutritional biochemist to a franchise consultant unfolds, revealing the power of unexpected twists. The discussion dives into the essence of franchising – a proven business model that offers a faster track to success. She emphasizes the collaborative nature of the franchise community, debunking myths about entrepreneurship's isolation. The episode concludes by exploring brand equity and the potential for remarkable returns within the franchise world. Join Tom for an engaging conversation about seizing opportunities and transforming lives through franchising.
Highlights 01:00 How Kim got into the franchising space 04:10 Kim’s passion and enjoyment in being a franchisee for the past 21 years 07:12 What franchising really means 12:40 The spectrum of opportunities in franchising 16:00 The importance of knowing the level of support a franchise agreement comes with 21:45 Significance of financial stability for entrepreneurs looking to start a business 25:19 Knowing why you want to invest in a franchise and how this investment will change your life 29:05 Why owning a business is one of the best routes to achieve true financial security 33:34 The best time to invest in a franchise and the potential benefits of being a pioneer investor 35:25 Different resources on franchising
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Kim Daly
- https://thedalycoach.com/
- https://www.youtube.com/@TheDalyCoach
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Join Tom in this episode as he explores a unique approach to financing college education for his children. As his sons approach their high school years and college decisions loom on the horizon, Tom shares valuable insights into empowering kids to take ownership of their futures. This episode offers a fresh perspective for parents navigating the challenges of funding higher education, providing inspiration on how to prepare your children for college while nurturing their ability to make informed decisions and take charge of their own lives. Don't miss this insightful discussion on a forward-thinking approach to college financing.
Highlights 02:13 Treating college as an investment for the financial perspective and for personal growth 05:37 Open-mindedness towards various education paths, including the possibility of not going to college immediately 08:17 Different approaches to financing college education: Parents paying vs students taking on loans 09:10 Encouraging children to have a financial stake in their college education for meaningful engagement 10:13 Capsulation of this approach towards financial partnership in funding education 12:06 Importance of children experiencing personal ownership in their educational journey
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this episode, Tom chats with Stephanie Walter, a real estate entrepreneur with a family legacy of business. From a regular job to founding her own insurance agency in 2005, Stephanie's journey was guided by her father's wisdom. She ventured into real estate, now managing $300 million in assets through syndication. Discover the power of mentorship, collaboration, and seizing opportunities in this inspiring conversation by tuning in today!
Highlights 01:00 Stephanie’s entrepreneurial background 04:06 How her interest in buying apartments led her to a boot camp where she learned about syndications 06:17 The transitional phase from her job to owning an insurance company and the challenges it entailed 10:15 How a change in mindset - from accumulating assets to using them for cash flow - allowed her to replace her income and ultimately sell her insurance agency 17:22 The importance of collaborating with others with complementary skills in the syndication business 20:40 The focus on class B apartments in Florida and retail spaces as investment opportunities 22:54 Personal finance misconceptions and comparison with corporate investment strategies 26:04 The importance of knowing what you want to achieve with your money through diversification and strategic planning 29:30 The myths surrounding taxes and how the wealthy strategize for their taxes 34:33 The need to diversify not just within stocks or mutual funds but also in tangible investments and taking control of your finances
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Stephanie Walter
- https://erbewealth.com/about/
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Join Tom in this thought-provoking podcast episode as he reflects on the uncertainties of life and the importance of preparing for unexpected events. Drawing insights from tragic incidents, philosophical wisdom, and personal experiences, Tom discusses the significance of comprehensive protection, the value of time, and the power of taking action. He emphasizes the necessity of planning for worst-case scenarios, prioritizing meaningful moments, and building passive income streams to secure a fulfilling future. By embracing a proactive approach and making incremental steps, you can shape your destiny and achieve the freedom and security you desire. Tune in for practical advice and actionable insights that will empower you to take ownership of your future and live life to the fullest.
Highlights 01:48 Precautions that people can take and areas that could impact our lives including death, job loss, divorce, lawsuits, and investment struggles. 03:07 A quote from Ben Franklinabout failing to prepare and the need for financial security 05:33 The need for health insurance and estate plans as well as saving money for emergencies or potential opportunities 07:04 Recognition of time as a scarce resource and the need to enjoy, have personal time, and spend it with the right people 08:48 Tips on generating passive income to free up personal time and opportunities to serve yourself, your family and your communities 10:12 The need to think long term but act short term 11:40 Why you should take the next steps strategically and progressively to move forward towards goals 12:56 How you can learn from mistakes, move forward, adapt, and evolve as part of the journey towards a secure future
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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In this exciting episode, Tom is joined by Joey Mure, co-founder of Wealth Without Wall Street and host of the Wealth Without Wall Street podcast. Joey shares his journey from a corporate job with limited financial knowledge to discovering the path to financial freedom and passive income. They discuss how he stumbled upon the concept of infinite banking and realized the importance of taking control of his finances. He emphasizes the need to invest in yourself and explore alternative ways to generate passive income beyond traditional investments like 401(k)s. Tune in to this episode to learn more about Joey's journey and the valuable lessons he has to share about achieving financial independence.
Highlights 02:42 The societal messages and misconceptions around money and wealth 05:37 The catalyst moments that prompted Joey’s desire for change 07:57 Their perspectives on the importance of purpose and service 10:02 The often overlooked value of time and its relation to financial freedom 15:21 How Joey discovered the infinite banking concept and how it revolutionized his financial perspective 19:00 The roadblocks to financial freedom and the underutilization of cash 22:36 The experience of personally providing private mortgages for two individuals who didn't fit the mold of traditional financing 24:53 Joey’s appreciation and feelings for the life and time he has with his five daughters, a product of his shift towards financial freedom 37:12 Their passive income performances publicly to hold themselves accountable and inspire others 42:02 Resources on the investor DNA profile
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joey Mure
- joey@wealthwithoutwallstreet.com
- https://www.wealthwithoutwallstreet.com/
- https://www.linkedin.com/in/joey-mure-b376824
Call to Action Schedule a Call with Tom
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In today's special episode, Tom takes a moment to appreciate the simple joys of life amidst the hustle and bustle of the holiday season. As he reflects on time and the importance of family, friends, and gratitude, he reminds us all to pause and cherish the moments that truly matter. Tune in for a dose of inspiration, recharge your spirit, and embrace the upcoming year with renewed energy. From all of us at Perennial Pride, we wish you a wonderful Thanksgiving filled with warmth and reflection!
Highlights 00:31 The importance of taking a pause, taking a break from life's constant flow, and reflecting on aspects of life that seem to move very fast, such as children growing up. 01:29 Taking time to pause and reflect on something they you are grateful for as Thanksgiving approaches 02:49 Tom’s gratitude towards the listeners of the podcast and his intention for starting the podcast, which is to educate and empower the listeners regarding their finances
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this final episode, Tom and Jeremy Kessler delve into the complexities of future taxation. They discuss the potential impact of changing tax rates, the Trump tax laws set to expire in 2025, and the looming challenges with estate taxes and government debt. With humor and expertise, they explore strategies for safeguarding your wealth and staying ahead of the evolving tax landscape. Whether you're a business owner or an individual looking to protect your financial future, this episode offers valuable insights and practical advice. Don't miss this candid conversation about the ever-changing world of taxes and how to navigate it successfully.
Highlights 01:16 The key things that can impact the sunset of tax rates 03:36 Recommendations on financial planning strategies, including the use of tax-free vehicles like Roth accounts, to mitigate future high taxation 04:30 The importance of not putting all your assets in one place and diversifying your wealth into different investment areas 06:18 What people don’t consider when choosing between Roth and IRA 10:14 The importance of planning for estate taxes 12:17 Increased healthcare costs and social security implications on future finances, signaling a potential future increase in tax rates 13:05 How to get professional help for financial planning especially for bigger states to prevent possible financial adversities in the future
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jeremy Kessler
- jeremy@thesteelbreeze.com
- https://thesteelbreeze.com/
Call to Action Schedule a Call with Tom
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In this podcast episode, Tom and Jeremy explore tax strategies and financial planning for the current year, offering tips to mitigate taxes for various income sources. They discuss retirement planning, Roth IRAs, energy investments, charitable donations, and optimizing business entity structures. Join us to learn about tax-saving strategies that could benefit you this year.
Highlights 02:08 Importance of being aware of tax implications in retirement when drawing from 401ks and the benefits of that coming out tax-free 05:17 How you can do conversions for its tax-free benefits 09:31 HSA as good tax vehicle 11:45 Offsetting gains with losses in investments and the limitations of this strategy 17:29 Need for tax education and the government's role in steering investors towards certain paths through tax benefits 20:06 How the government incentivizes charitable donations and provides tax benefits for them 23:06 Tax strategies associated with exceptional risks and the importance of due diligence in understanding these risks 24:33 How sole proprietors could potentially benefit from restructuring their businesses even towards the end of the taxation year 25:19 How having an LLC doesn't necessarily provide a tax break but serves as a protection for personal assets from business liabilities
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jeremy Kessler
- jeremy@thesteelbreeze.com
- https://thesteelbreeze.com/
Call to Action Schedule a Call with Tom
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Join Tom for this three part series with tax expert Jeremy Kessler as they dive deep into the world of taxes and financial planning. Taxes can be a complex and daunting topic, but with the right insights and advice, you can save money and reduce stress. In this episode, Tom and Jeremy discuss the importance of tax planning, the benefits of staying organized, and strategies for optimizing your tax situation. Whether you're a business owner or a W-2 earner, there's valuable information here to help you take control of your financial future. Tune in now and start saving on your taxes and be sure to stay tuned for part two and three!
Highlights 01:07 - Importance of getting ahead in tax planning due to the complexity of the tax code. 03:39 - Overview of the podcast's aims: learning from this year's tax season, mitigating future taxes, and preparing for long-term financial changes. 09:12 - Discussion about proactive planning and how seeking expert advice helps save more in the long term. 13:02 - The need for business owners to analyze their tax structure to prevent leaving money on the table. 16:59 - Discussion about the misconceptions surrounding taxes, and how exploring different tax strategies can offer new opportunities for savings. 19:58 - Discussion about the misconception of treating tax refunds like a savings plan and how it is actually a non-interest bearing loan to the government. 20:19 - Emphasizing the value of time, especially when awaiting a tax refund.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jeremy Kessler
- jeremy@thesteelbreeze.com
- https://thesteelbreeze.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today’s episode, Tom talks about the power of collaboration and team-based strategies for achieving financial success. With summer in full swing and memories of childhood sports days, Tom reflects on the significance of teamwork in various aspects of life, from sports to business. Despite the growing trend of individualized financial approaches, Tom stresses the importance of forming a comprehensive advisory team to navigate the complexities of personal finance effectively. Drawing inspiration from the Rockefeller family's multi-faceted approach to wealth management, Tom encourages listeners to consider a holistic model that embraces a proactive planning team supported by a network of experts in areas such as tax planning, risk mitigation, wealth building, legal services, and business advisory. Tune in to explore how adopting a team-based approach can lead to smarter financial decisions and more fulfilling life outcomes.
Highlights 01:28 The importance of working together, individual uniqueness, and how each person has their own strengths. 03:23 Importance of parents playing the role of a financial guide to their children 03:56 Rockefeller family as an example of successful wealth management 04:44 The concept of 'five big buckets' in financial aspects 06:02 Risk mitigation in wealth growth and building 07:32 Importance of investing for wealth building 09:05 Various aspects of legal entities and issues regarding wealth management 11:02 Benefits of teamwork in problem-solving, risk-taking, and expanding creativity
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
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In today's episode, Tom welcomes client Alex Flecker, a senior leader at a Fortune 500 Company, who has a rich background in the military and corporate America. Tom and Alex delve into a variety of topics, including leadership, financial planning, and the importance of continuous learning. Alex's journey, from military service to corporate success, provides valuable lessons that listeners can apply to their own lives. Tune in to hear, from a client perspective, how he thinks about life and finances.
Highlights 01:53 Alex takes a nostalgic trip back to when he and the host worked together in corporate America for over 10 years ago. 03:52 How growing up without a lot of money shaped his career choices and the way he thought about money 07:22 The importance of considering trade-offs between time and money 09:38 The lessons he learned about leadership, collaboration, and executive functioning in the military and how they have been beneficial in his corporate career 15:51 Importance of regular financial check-ins and having a personal balance sheet 23:13 His understanding of diversification has evolved from simply diversifying his S&P investments to include various asset classes like real estate and alternative investments 32:03 The importance of long-term, patient planning and the creation of a solid, resilient financial foundation Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Alex Flecker
- https://www.linkedin.com/in/alex-flecker-2360981
Call to Action Schedule a Call with Tom
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Welcome to the latest episode of the Perennial Pride podcast. As the summer of 2023 closes, Tom reflects on the fleeting nature of time, especially as his children grow and face new life choices. Drawing parallels to the power of teamwork in childhood sports, Tom dives into the prevalent yet misguided notion of individualism that often overshadows the importance of collaboration and diverse perspectives in education and life. This philosophy extends seamlessly into the realm of personal finance, which can be intricate and overwhelming for many. Tom highlights the crucial value of a team-based approach, exploring the concept of a virtual family office. Covering five key domains: Taxes, risk mitigation, wealth building, legal services, and business advisory, Tom envisions a future where collaboration leads to smarter financial decisions, wiser risk management, and more innovative solutions. Tune in for insights that challenge conventional wisdom and pave the way toward a brighter financial future.
Highlights 01:16 The purpose of teams 02:07 Individual uniqueness and the importance of appreciating and leveraging these unique qualities 03:59 The concept of a virtual family office, drawing on examples from wealthy families like the Rockefellers. 04:48 The five core areas in a virtual family office: Taxes, Risk Mitigation, Legal, Wealth Building, and Business Advisory 07:22 The importance of investing and expanding our horizons beyond stock market investments 09:09 The importance of legal planning, especially estate planning 10:21 Introduction to the business advisory part of the virtual family office 13:49 How a team-based model can introduce new concepts and ideas and provide a broader approach to managing finances
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
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In the final episode of this series, Tom and Chris talk about how to use your IBC policy. One of the ways to use your policy is access to loans where you get to determine the terms, repayment schedule, and interest rate. Another opportunity is tax-free income and accrued interest. These are just a couple of the ways to use your policy. Tune in to hear more about these benefits and other opportunities to use your policy!
Highlights 02:33 How to start using the IBC policy 05:21 The experience of buying a policy and its impact over time 12:50 Starting an IBC policy at different ages 19:47 Importance of balancing different aspects of financial planning 23:07 Having plans A, B, and C to pay back your policy loan 24:49 The flexibility of IBC policies and their ability to adapt to life's inevitable changes 28:22 Various uses for whole life policy 35:14 The IBC policy as a whole faceted asset
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today’s episode of the series, Tom and Chris talk about cash flow management being a crucial aspect of business and IBC offers an alternative method to traditional banking. A business owner who creates their own private bank has the ability to take advantage of tax benefits, dividends, and greater control of loan terms without any liens on business assets. With the immediate availability to cash, life insurance can play a huge role in land and real estate investment as well. Thinking about becoming a business owner? Take a listen to hear more about the benefits available through an IBC policy.
Highlights 01:39 Business owners' main concerns are taxes and finding ways to establish a savings process that isn't 100% tied into the business' value or productivity 02:46 The biggest asset for most business owners 06:09 The importance of using an IBC policy to cover the cost of business operations and maintain cash flow over time 10:30 How business owners are protecting themselves 13:10 How IBC brings in the long-term thinking that's crucial for business owners 18:27 The importance of business owners being prepared for all eventualities 20:00 Although IBC can't offer free money, it puts business owners in control because the rules can't be changed without their agreement
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today, Tom and Chris discuss the importance of transferring wealth across generations and how that can be accomplished using IBC. Chris shares his personal story about his father’s whole life policy and how it grew over the years giving him the ability to set up policies for his own children. They talk about the value of having conversations about finances, death, and wealth growth within the family, and the emotional aspects that come with it. Tom also explains how he has structured the policies for his own children. Tune in to hear how affordable life insurance actually is and whether there is an age limit for implementing the infinite banking concept (HINT: there isn’t)!
Highlights 03:43 The concept of initiating IBC plans within generations and how it typically starts with grandparents or great-grandparents 06:25 Implementation of IBC within families and the benefits it brings 12:28 Age considerations with IBC and how the rates compare for young and older individuals 19:54 The establishment and consequences of the MEC rule 23:53 The consequences of violating the seven-pay rule 29:38 How the insurance company and the IRS each decide the minimum and maximum premium for a life insurance policy
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Tom and Chris discuss the “buy term and invest the difference” strategy, which advises purchasing term insurance for temporary coverage while investing the cost difference in the stock market. They emphasize the benefits of diversification in investment portfolios and suggest considering various risk assets. They also discuss the advantages of whole life insurance as a risk management tool, providing stability and liquidity during financial hardships. Take a listen to her more about this and how it can benefit you!
Highlights 01:01 One of the rules around IBC: To rethink your thinking. 03:56 Migration out of pensions and into self-managed investments 10:30 Importance of diversifying your investment portfolio, not just stocks 17:58 The concept of "self-insurance" and the importance of building large assets 22:02 Life insurance transitioning from income protection to asset protection 24:15 Impact on Social Security income when a spouse dies and how life insurance can alleviate the financial loss 29:59 Diminishing popularity of whole life insurance amidst a culture of riskier investments 31:16 Importance of designing a financial foundation that allows your dollars to perform multiple jobs 32:04 Borrowing concept as part of a whole life insurance policy
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
For today’s episode of the series, Tom and Chris discuss various aspects of the life insurance industry and its relation to the Infinite Banking Concept. They highlight the difference between life insurance companies and stock companies, emphasizing that life insurance companies are owned by their policyholders while stock companies are owned by the public and more focused on short-term returns. This episode also touches on the role of life insurance as a wealth storage tool. Tune in to hear a better understanding of how a life insurance policy can benefit you in more ways than you thought possible!
Highlights 01:49 Understanding different varieties of how insurance companies are structured 04:50 Differences between public and mutual companies 09:09 Potential risks and implications of choosing different types of life insurance products 13:53 Designs that are shifting the risks to the policy owners 16:24 Changes in death benefit charges in different types of life insurance 20:45 The modified endowment contracts and the tax implications when utilized for the IBC 25:07 Importance of long-term thinking when considering moving money into life insurance policies
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action Schedule a Call with Tom
How to Listen:
- Subscribe on Youtube
- Listen on Spotify
In part four of this series with Chris Tormey, they talk about the five simple rules for IBC and the human problems that stop people from having success and wealth. It is crucial to adopt a long-range mindset and carefully consider future implications of financial choices. By consistently paying premiums, embracing opportunities to capitalize on cash value, and minimizing reliance on traditional banks, you can maximize your wealth. Listen in to hear more about these and the behavioral problems that can impact financial decisions.
Highlights
03:43 Addressing the foundational rules of the Infinite Banking Concept
08:31 The third rule: Don’t steal from the system
11:14 Rule five: Rethink your thinking
17:09 Final thoughts on the Infinite Banking Concept rules
23:33 Addressing the third human issue, the gold rule for infinite banking
25:06 Fourth human issue: Arrival Syndrome
26:29 Addressing the fifth human issue: Use it or Lose it
29:13 Real-life application of Infinite Banking Concept
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
In today’s episode, Tom and Chris talk about delayed gratification and its impact on life and wealth in a world of instant gratification. They discuss the need for finding a balance between immediate gains and future-oriented actions. Embracing failure as a part of growth and building good money habits through consistent savings, risk mitigation, and a balanced approach to wealth building are keys to success. Identifying foundational elements of wealth that withstand various conditions is essential. Tune in to hear Tom and Chris discuss strategies to impact both wealth and life success.
Highlights
02:16 How customers are often confused by the complexity of insurance illustrations
06:07 Various factors that could affect dividends
11:00 How low interest rates have led to lower dividends in the past 15-20 years
20:02 Using the key components of the policy's design
21:38 The differences between the base premium and the paid-up additions
22:54 The combination of PUA (paid up additions) and base premium in the Infinite Banking Concept (IBC)
23:56 The importance of understanding how the policies work and the benefit of partnership with a powerful institution like a mutual life insurance company
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action
Schedule a Call with Tom
How to Listen:
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Today, in part two of Tom’s series with Chris Tormey, they dive into how IBC actually works and the benefit it has for managing finances. They explain how IBC gives people the opportunity to take control of the banking function in their lives and that whole life isn’t just for income replacement but also serves as a means of building equity and legacy. Take a listen to learn more about how to leverage cash value during your lifetime.
Highlights
01:27 The misunderstandings around life insurance
02:08 Varieties of whole life versus term insurance
07:08 Benefits of whole life insurance
15:39 Difference between cash value and death benefit
20:41 Why life insurance companies allow policyholders to borrow against their policy
23:44 How loan repayments for a life insurance policy can be flexible
25:55 The downsides of withdrawal
31:49 The interest rates of loans from life insurance companies
33:49 How policyholders can borrow up to 95% of their cash value with life insurance loans
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action
Schedule a Call with Tom
How to Listen:
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In this nine part series, Tom is joined by fellow IBC Practitioner Chris Tormey to provide their perspective on Foundations of IBC. Today, in part one, they elaborate on the Infinite Banking Concept itself. They further discuss the characteristics of a good investment and how a well-structured whole life policy can provide benefits such as accessibility to cash, minimal market volatility, protection against inflation, and ultimate control of your wealth and finances. During this series, they will share the common misconceptions about IBC and shed more light on the many benefits of this way of thinking. Tune in over the next few weeks to learn more!
Highlights
01:49 Who is Chris Tormey and how he has been interested and involved in the concept of infinite banking for almost a decade
02:55 The complex concept of IBC and make it applicable to life, beyond just finances
04:36 Brief background of Nelson Nash's journey to creating the IBC
07:14 The two major functions that banks serve in the economy and how IBC can serve as an alternative for one of them
13:40 Characteristics of the ideal investment
16:50 Misunderstandings about the product providing the IBC platform and clarification about its characteristics
27:13 Exploration of the mutual benefits between the insurance company and the policyholder in IBC
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action
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Today, Tom is joined by Dave Wolcott: Author, podcast host, and founder and CEO of Pantheon Investments to talk about entrepreneurs building wealth by passively investing in superior real estate and alternative assets that provide predictable cash flow and tax efficiency. Tom and Dave talk about shifting paradigms to find success and freedom in life and own their futures so they can achieve and invest more than they thought possible. Tune in today!
Highlights
00:07 Who is Dave Wolcott?
01:50 What Dave’s background looks like
03:15 The inception of his entrepreneurial journey, triggered by dissatisfaction with conventional financial advice
05:50 Dave's journey into entrepreneurship
07:36 Core things that center around freedom and freedom in our lives
11:42 The importance of having a vision encourages people not to wait for a tragic event to take control of their lives
20:02 How uncertainty and lack of control over future taxes, fees, and inflation rates can lead to financial stress and insecurity
25:21 The concept of a syndication and how individuals can invest in large properties through fractional shares.
28:19 Ineffectiveness of limiting investments to conventional options like 401(k)s
31:30 How he came across and started practicing Infinite Banking
32:56 Things he learned about the ultra-wealthy
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Dave Wolcott
- https://www.linkedin.com/in/dave-wolcott-863306
- https://pantheoninvest.com/
- https://pantheoninvest.com/about/
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Time moves fast and before we know it, years fly by especially when we start getting comfortable. We can often neglect to stop and reflect on why we are doing the things we are or aren't doing. The world's most influential values are family, relationships, and financial security. Tune in today to hear Tom talk about his hopes to inspire others to think about how they can best support their families and leave a lasting mark.
Highlights
00:43 Reflecting on aligning actions with values
02:57 A survey on the world's most influential values: Family, relationships, and financial security
03:50 The three key areas for investing in your family
04:35 Importance of protecting assets and income
06:30 A personal story on supporting a family after a tragic loss
08:35 The importance of investing in family and education
10:31 The need for formal and life education on finance
12:23 Why families should discuss about legacy and generational wealth
15:29 The need for building independence in children
17:22 Importance of teaching children about failure and making decisions
18:17 The role of parents in giving kids the freedom to choose their path
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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Tom is joined by Curtis May of Practical Wealth Advisors to talk about freedom of wealth and life. They help their clients achieve more than they thought possible from a financial perspective and want more control over their money. They want to become financially independent before age 65. They are committed to lifelong learning and know that with the right education, they can find the best solution for their financial well being. Tune in today to learn where you could be losing significant wealth and practical ways to address them.
Highlights
02:21 The importance of practical advice and simplicity in the finance space
04:20 How to become financially free by purchasing assets that send you checks each month
08:43 The need for automatic and systematic saving, separate from your 401K
13:41 The significance of being defensive with your finances and plugging the "holes" in your monetary bucket
18:21 The importance of saving and setting money aside for future capital deployment
21:20 The concept of maximum protection
23:38 Misconceptions around mutual funds and the concept of compounded interest
26:14 Recognizing and accepting the reality of the work required to build wealth
29:23 Inevitable financial missteps as part of the journey to wealth
33:14 The importance of managing spending
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with with Curtis May
- https://www.practicalwealthsolutions.net/
- https://practicalwealth.libsyn.com/
- https://www.linkedin.com/in/curtismay
Call to Action
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In today's episode, Tom talks about the potential recession coming given rate hikes and debt with companies. We are starting to see layoffs as some of the larger corporations that may have hired too many, too fast. However, many corporate professionals need paychecks and healthcare. Most have built good net worth but not much liquidity. Tom talks about assessing your financial foundation and getting the tools to help you manage and maximize your cash flow. Tune in today!
Highlights
02:44 Encouragement for people considering a change in their career or life but finding it too daunting
05:11 Importance of exploring, building a financial business, and talking to people in the industry
09:05 Using the tool Currence to manage lifestyle and expenses and save more money
10:03 Creating multiple streams of income and building cash flow engines as a way to achieve financial freedom
13:58 Importance of checking the broader financial foundation and preparing for potential risks and disruption in life
17:01 Encouragement to take steps towards change and removing golden handcuffs to lead a more fulfilling life
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
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Tom is joined today by estate planner and attorney Everett Sussman. Death isn't something everyone wants to talk about, but the reality is that it will eventually happen. Society has come to rely on the government more than ever for benefits and reduced the freedoms we have in life. Majority of families don't have an estate plan in place. Listen to hear about why you should have a plan in place and what trends are coming related to estate planning.
Highlights
01:34 How Everett got into estate planning law
04:15 Addressing concerns about what happens in various situations
07:41 The difference between a will and a trust
10:31 The role of a living trust in estate planning
13:07 How estate planning varies in different states
15:04 How moving to a different state can impact estate planning
20:08 Irrevocable life insurance trusts (ILITs) and their benefits
23:11 Probate fees and taxes in different states
25:43 Estate planning for children with special needs
29:25 Estate planning for business owners and managing different scenarios
32:04 Importance of relying on experienced professionals for complex estate planning tasks
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Everett Sussman
- https://www.estatelawonline.com/
- https://www.linkedin.com/in/egsesq
- https://www.facebook.com/LawOfficesOfEGSussman/
Call to Action
Schedule a Call with Tom
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In today's episode, Tom talks about his son and when he started to play baseball: He is a good athlete but didn't quite know what he was doing. He needed to learn the game. The same can be applied to Real Estate Investing. It's something many want to get into, but they just don't quite know where to start. Tom shares the opportunities he used to get educated and how he leveraged his whole life policy to save and store cash. Tune in today!
Highlights
03:37 Finding different opportunities for investing
05:17 Starting the journey into real estate by getting educated through books
08:31 Meeting people with the same interests in real estate
11:30 Importance of networking with experienced individuals
13:28 Starting with smaller deals on properties before venturing into larger ones
14:04 Investing in term key providers and managing properties for investments
16:28 Opportunities for accredited investors through private placements, syndications, and partnerships in larger real estate ventures.
18:29 Understanding if real estate investment is the right opportunity for you
19:25 Emphasizing the importance of growing, learning, and becoming more active in investments.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
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Tom is joined again by Monica Felton, a College Financial Planner to talk about alternative ways to pay for college. They talk about the misconceptions of what the true cost of college is and the reality of funding options (many think there's a lot of money to get from the government and schools), but the reality is a lot worse. Tune in today to learn about alternative ways to fund your child's
Highlights
01:11 Monica's passion of making college more affordable
02:30 Understanding the true cost of college
05:19 Importance of saving and good grades for students
09:44 Effects of economic recession on college costs
13:16 Considering trade schools instead of college for certain career paths
16:19 Finding creative ways to make college affordable
19:49 Alternative ways to save for college
24:01 Limitations and risks of 529 plans
24:50 529 plans' impact on financial aid eligibility
26:25 Importance of access to liquid capital and flexibility in savings plans
27:47 Where to find Monica's book and follow her on social media for more college savings advice
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Monica Felton
- https://www.monicafelton.com/
- https://www.linkedin.com/in/monicafelton
Call to Action
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In today's episode, Tom talks about being curious, courageous, and cautious when it comes to life and wealth. He recalls his self-effacing childhood and not wanting attention, but feeling good about himself. This pushed him to learn more and research things. Tom talks about how your ego can be your enemy and the importance of pressure testing yourself to gain courage and know to "quit" for the betterment.
Highlights
01:11 Tom reflects on their past experiences with ego
03:09 The importance of continuous learning and remaining open-minded
05:28 A story of ants and how it can apply to our lives
07:05 The three C's are introduced: be curious, be courageous, and be cautious
09:33 The value of networking and attending conferences
10:51 Importance of taking small steps and learning from failures
11:19 Building a solid foundation before taking risks
13:20 Getting educated and reducing risks when venturing into new areas
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
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Joining Tom today is Chad Spitzer of the Captive Insurance Group to talk about building the right financial foundations and removing surprises to bring more certainty to your business. Tune to hear about alternative ways to protect risks to your business.
Highlights
01:29 Chad’s background in finance and how his family works in the insurance business
02:38 Purpose behind captive insurance and how it saves businesses premium costs while providing coverage
05:16 Captive insurance as setting up a separate entity to cover business risks
09:28 Captive insurance allows for investment in conservative assets to grow surplus
10:40 Different structures in the captive world, such as pure captive, single parent captive and group captives
17:40 Using captive insurance in financing and supporting the business.
19:15 The importance of tax savings and surplus building in the captive insurance process.
21:01 Primary focus of captive insurance is risk mitigation
21:25 The different ways a captive can be taxed and the need for proper structuring when creating a captive
23:02 Services that Chad’s company provides to help business owners manage their captive insurance efforts
26:19 Steps business owners should take in determining if captive insurance is right for them
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chad Spitzer
- https://www.captiveinsuranceusa.com/
- https://www.linkedin.com/in/chad-spitzer-1b99765
- CHSPITZER@higginbotham.net
Call to Action
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In today’s episode, Tom talks about delayed gratification and the impact it has in life and wealth. Everything is essentially one click away; Amazon, dinner, clothes, entertainment, etc. When it comes to your wealth and life, doing things the easy way doesn’t always pay off. But being disciplined teaches you to be patient and think about the long term. Evaluate what you’re invested in and determine if it’s a good long-run option. Set up a call today so you can continue to grow and learn over the rest of your life.
Highlights
03:21 The marshmallow challenge and its relation to delayed gratification and future success
07:15 Importance of having the right financial habits, such as saving consistently and spending less
11:16 The need to constantly learn and grow, especially in areas important to our finances and personal well-being.
13:01 Embracing challenges as a way to improve and grow, following the philosophy of stoicism
15:03 Thinking about long-term impacts and legacies, considering what we want to leave for future generations
15:51 Making personal and educated investment choices to reduce risk and enhance returns
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
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Practice makes perfect, right? We get frustrated when we fail but in the moment, we don't always understand that failures can be your best teacher. It’s important to be open-minded and have a growth mindset to learn from failures so they aren’t repeated. Tune in to hear about the lessons Tom has learned from failing and how he overcame them.
Highlights 01:01 Importance of learning from failures and how it applies to financial life 02:17 Examples from baseball players Babe Ruth and Ty Cobb and how their successes and failures highlight the importance of taking risks and learning from mistakes 04:49 The hierarchy of wealth, investing, and relationships with financial teams 06:15 Personal anecdote of a failed investment and lessons learned 09:14 Importance of understanding the purpose of your investment and how it fits into your overall strategy 11:44 Investigate the investment team and perform background checks on leadership 14:04 Speak to previous investors on their experiences working with the team 17:11 Consider the extended team and vendors associated with the investment group 18:20 Seek opinions from your personal network of advisors to gain objective insights on potential investments 20:03 Tom’s personal investment experience in bankruptcy and the importance of due diligence 20:40 Importance of taking time to plan and reduce risk in investments and personal finances
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In our lives, it’s been proven that losses hurt more than the thrill/enjoyment of gains. We’re wired oddly that way. As Buffet states - losing money is not a good thing to our wealth building. To reach our potential, we have to take risks. We have to have courage to face our reality and make changes in our careers/jobs and finances. Because change is scary so many will stay in the same situation. Visit perennialpride.com to download your free e-book on wealth eroders and where it’s ok to take risks to reach your max potential in wealth and life.
Highlights 00:53 Introduction of the concept of opportunity cost and its relation to decision-making and personal finances 04:04 Inefficiencies in traditional savings accounts and possible alternative investments. 05:51 The impact of taxes on opportunity cost and the importance of tax planning and awareness 07:28 How financing and purchasing decisions can lead to opportunity costs 08:51 Examining the role of insurance in wealth building and opportunity cost 11:35 Switching gears to discuss opportunity cost in personal life decisions, such as career choices and time allocation 13:04 Encouragement to face fears and push personal boundaries in pursuit of fulfillment 16:19 The importance of evaluating personal and professional life choices to maximize potential and minimize opportunity cost
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Leverage: We use it in so many different ways and parts in our lives whether it be relationships, skills and talents, time or connections. We can gain ultimate freedom in life by using leverage. Tune in to hear how Tom encourages people to see what types of leverage they might be able to use to boost their wealth and success.
Highlights
- 02:04 Using the analogy of pole vaulting and high jumping to illustrate the concept of leverage
- 04:04 Highlighting the importance of relationships, connections, and network for leverage in personal and professional life
- 07:10 Leveraging personal skills and talents, as well as those of others, to achieve better results
- 08:46 Managing and leveraging time to focus on important goals and activities
- 11:56 Importance of leveraging education and growth through continuous learning
- 14:54 Using other people's money as leverage, including utilizing debt and tax incentives
- 19:06 Understanding and applying leverage in different areas of life to achieve success, control, and fulfillment Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today, Tom is joined by Disability Insurance Expert Hunter Brown to help listeners better under the importance of disability insurance (DI).
Did you know that about 12% of the population suffers a long-term disability and at age 35, you have a 50% chance of experiencing a disability of three months or longer? Tune in to hear Hunter and Tom discuss myths and confusion around DI, what they wish people understood about DI, and the key options when considering a type of DI policy.
Highlights 01:40 Hunter Brown's background in disability insurance 03:57 What is disability insurance? 06:37 Types of disability insurance 14:20 Group policies and the potential limitations 22:23 Partial disabilities and adding riders 24:02 Unique considerations for business owners 24:24 Business overhead protection 25:30 Key person coverage for employees 28:47 Importance of disability insurance for small business owners 30:37 Considering Social Security benefits and increasing protection over time 33:24 Importance of multiple income streams
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Hunter Brown
- HBrown@vanbridge.com
- https://www.linkedin.com/in/hunter-brown-b7615614b
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today’s episode, Tom talks about a 2013 PBS series on the retirement crisis that is still very applicable today. Most people don’t have pensions to rely on for retirement and have moved to risk type retirement. Cash flow is king as you need it to let you live the life you want. Listen in to hear what you can do to prepare for a stress-free retirement.
Highlights 00:21 Transitioning to retirement instead of aiming for a fixed target 02:14 Focus on controlling and achieving financial freedom 04:13 Key risks: Longevity and diversifying income streams 09:06 Taxes as a major risk to wealth and exploring tax-free investment opportunities 13:21 Market volatility and creating a volatility buffer to maximize asset use 16:35 Cognitive decline, simplifying finances, and creating steady income sources 20:23 Emphasizing the importance of planning and understanding personal goals when building wealth and approaching retirement 20:42 Gratitude for podcast listeners and the goal to help them achieve financial freedom through education and empowerment 21:40 Encouragement to visit the website for additional content and to access the book "Wealth Beyond the Numbers" for personal experiences and tips on building wealth and abundance in life
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom today is Ryan Condie to talk about creating freedom in your life. Our time is our most precious resource and we need to be doing everything we can do to protect that resource. The economy is changing and people are looking for the next journey in life. Freedom and control of life requires taking responsibility. Investing is something you can own and control to reduce risk. Tune in to listen as Ryan shares his advice for those wanting to get into business for themselves.
Highlights 01:11 - Ryan's journey into buying businesses and how it all started with his first online business purchase. 04:15 - Ryan's transition from working in tech to focusing on acquisitions. 06:39 - The advice to focus on changing your world first before trying to change the world with your business. 09:22 - The reality of businesses requiring active management and not being truly passive. 11:41 - Recognizing the need to start small and build upon the foundation of a business. 17:56 - Becoming proactive in your life decisions and recognizing that life is happening for you, not to you. 19:02 - Experiencing a situation where life becomes painful enough to want and initiate change. 21:26 - Teaching children valuable skills and instilling good values in them through entrepreneurial activities. 26:05 - Taking the first step in starting a business by getting out of your comfort zone and doing something small. 27:31 - Recognizing the importance of taking action and pushing yourself to get started and keep going.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today’s episode, Tom’s you through the history of 401k plans and how it may play out for most people later in life and even in legacy. What was originally created for the uber wealthy when the tax rate was 70%, has now become the mainstream way for people to invest for retirement. You CAN have more security over your wealth AND still have access to it by following a different path. Schedule call with me today to learn more and get started today!
Highlights
- 00:22 The discussion on the role of government in controlling financial lives
- 02:38 The creation of 401k in the late 70s and early 80s and its initial benefits
- 05:18 The uncertainty of future tax rates and inflation's impact on retirement
- 08:07 The pressure on money in 401k accounts
- 11:49 The Required Minimum Distribution (RMD) age and the government's control over regulations
- 14:16 The Secure Act and the limit to deferring inherited accounts
- 15:22 The impact of potential financial issues on control over personal money
- 16:49 The importance of having flexibility, balance, and multiple options in personal finances
- 17:39 Conclusion and invitation to reach out for more help on financial planning Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Today, Tom is joined by Carolyn Tormey, a career ownership coach to talk about the benefits of entrepreneurship and franchising. With the economy changing and the potential for layoffs, on top of people retiring and looking for the next journey in their lives, many are understanding that time is our most precious resource. Moving to self-employment and away from corporate America is a way to provide yourself with financial freedom as these times are changing. IBC can help make a lot of this possible. Tune in to hear more about franchising, if it's right for you, and what to consider before becoming an entrepreneur.
Highlights
- 01:30 Caroline shares her journey into becoming a career ownership coach and working in the franchising industry
- 04:01 What a franchise is and how it can be beneficial for expanding businesses
- 06:08 The higher success rates of franchise businesses compared to independent businesses
- 08:27 The ideal types of people for franchising ownership
- 10:31 The growth and availability of semi-passive and completely passive franchise opportunities for potential owners
- 12:25 The benefits of diversifying investments by owning a franchise and having control over it
- 14:13 Avoiding pitfalls and common mistakes in franchising
- 14:47 The "20-60-20 rule" in franchising, explaining the performance levels of franchise owners
- 17:29 The importance of being well-capitalized and having a good understanding of the ramp-up period in franchise ownership
- 18:04 Typical levels of investment and financing options in franchise opportunities
- 21:42 The growing expansion and opportunities in the assisted living industry and franchise space
- 23:23 Observations about younger generations leaning more towards self-employment and franchise opportunities
- 29:32 The challenges of navigating through the wealth of information available to anyone wanting to start a franchise
- 30:38 The importance of exploring franchise opportunities in a non-threatening, low-pressure environment. Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Carolyn Tormey
- https://ctormey.esourcecoach.com/
- https://www.linkedin.com/in/carolyntormey
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
A positive mindset can do so much not only for your day-to-day life, but also for your financial headspace. Think about pouring clean water into a dirty bucket - the more you pour, the cleaner the water gets. Tom talks about the importance of evaluating your financial situation and identifying ways to pour clean water into your personal and financial life. It's important to take full responsibility in your life because no one will do it for you. Your beliefs are what drives what you think which drives how you act. What are your actions doing for you today?
Highlights
- 00:09 Introduction to the importance of cleansing in both health and mindset
- 01:03 Analogy of filling and cleaning brain space with clean water
- 02:01 Morning practices to stay grounded and positive
- 03:45 Recognizing the small things in life as a source of gratitude
- 05:15 The need to be proactive in managing personal finances
- 07:17 Looking at areas where money is being lost, such as taxes and interest fees
- 10:01 The importance of optimizing and maximizing the efficiency of personal finances
- 11:20 Personal finance as an active sport and the need to take ownership and responsibility
- 12:04 Cleansing in all areas of life, including finances and mindset Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In today's episode, Tom talks about the importance of a balanced environment for our finances and our lives and maximizing our resources. He talks more about creating efficiencies of our resources and using those dollars to buy back some of those resources. In life and finances, we have to play both sides - offense and defense. Tune in to hear Tom talk about how to best play both sides of the game.
Highlights
- 01:43 How the basic concepts of gaining more control and freedom of our finances can relate to a football team and its setup.
- 03:41 The defensive side of personal finance and how it is set up to protect our wealth from others
- 07:25 The offensive side of personal finance and how it focuses on growing wealth
- 09:22 The importance of protection in building wealth
- 10:15 Role of savings in building wealth and growing it consistently
- 11:21 Investing in things you know, understand, and have more control over
- 12:33 The role of special teams in personal finance and how experts can help with various aspects of it.
- 14:26 Having a balanced and well-aligned financial strategy to achieve the desired goals in life Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Clients Adonis and Daniella join Tom today to share some of the things they have learned about personal finance and real estate investing. Working in the real estate industry, they understand the power of real estate as an investment class. Purchasing a duplex home, living on one side, and renting out the other, their tenant is helping to pay the mortgage. Being coachable and open-minded clients, they were willing to learn more about IBC and leverage it as a financing source for investments. Listen in as they share some interesting experiences to those considering real estate investing and careers.
Highlights
- 01:32 Adonis and Daniella discuss their background in the real estate industry, both working in leadership positions at their company and owning a two-family home.
- 03:41 Their experiences learning about personal finance growing up and finding better financial education through their jobs at Keller Williams
- 09:30 The journey toward finding and purchasing their ideal multi-family property after exploring different options together
- 15:19 Their experience as landlords and the importance of thoroughly screening potential tenants before renting out their property
- 16:21 Satisfaction with their multi-family property investment and the financial benefits they have seen from the venture
- 18:15 The importance of thinking long-term when it comes to financial planning and investing 19:30 Plans to acquire more properties to generate more profit for their future endeavors
- 20:44 The importance of estate planning and having strong financial knowledge to avoid stressful situations like probate court
- 23:16 Adopting the Infinite Banking concept and using whole life insurance policies as a means to store and grow their cash
- 27:37 How a small inheritance from was used to start a whole life insurance policy Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Adonis & Daniella Chamble
- https://adonis.kw.com/
- adonis@kw.com
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
In this episode, Tom shares his thoughts on the Netflix documentary “Get Smart with Money.” This documentary talks about the basic fundamentals on personal finance but still focuses on the cookie cutter type of finance rather than thinking outside the box to create financial freedom and control most desire. Listen in to hear Tom talk through the positives and negatives of conditional thinking around finance.
Highlights
- 00:47 The importance of continuous learning, avoiding "arrivals syndrome," and the effect of financial anxiety
- 01:14 The lack of financial literacy in our school systems and the prevalence of financial anxiety among adults
- 02:37 Impact of financial stress on other aspects of life
- 07:20 Importance of investing in things you understand and have control over.
- 10:41 The second case study of a young family working towards financial independence and early retirement
- 11:48 Discussing the FIRE movement (Financially Independent, Retire Early) and the importance of producing value throughout life
- 14:37 The third case study about a young couple struggling with credit card and student loan debt
- 18:15 Case study of a young woman in the service industry, not feeling fulfilled, and relating her situation to financial aspects
- 18:55 Exploring alternative ways to build wealth aligned with passions
- 20:06 Creating cash flow and saving money by investing in your own business and expertise
- 21:17 The emotional pull of not having financial direction and the young woman's process of building a successful life and business. Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Society has come to rely on the government more than ever for benefits, security, financing, etc. Tom and lawyer Alessandra Messineo Long discuss how security has reduced the freedoms we have in life. Think about taxes - they come in so many shapes and sizes. When it comes to Protection vs. Wealth Accumulation, most people want to focus on the latter, but how do you protect them when you obtain them? Tom and Alessandra further discuss Estate Planning (taxation and legacy and the various aspects of an estate plan that can be leveraged while living making it easier/more efficient to pass to the next generation. Tune in to learn the importance of protecting assets now and for legacy planning. How can you protect your assets so your family can keep more for generations to come?
Highlights
- 01:05 - Alessandra explains the importance of putting one's affairs in order, even when it might be an uncomfortable topic.
- 06:50 - The importance of having a will and other legal documents in place for individuals over 18, especially those with assets or children.
- 10:52 - Discussion about guardianship for minor children in case something happens to the parents.
- 13:34 - The benefits of setting up a living trust or revocable trust to manage assets efficiently and avoid lengthy probate processes.
- 16:47 - The advantages of starting estate planning early and building it over time to prepare for the inevitable and ensure wealth transfer to family members swiftly and efficiently.
- 18:07 - Alessandra discusses the benefits of having a revocable trust and a durable power of attorney, which can manage assets and make decisions in case of incapacitation.
- 18:51 - The importance of estate planning as a gift to one's family to simplify the transfer of wealth and reduce fees, legal costs, and taxes.
- 19:39 - Discussion on the potential for changes in estate tax exemptions and the use of various documents and trusts to transfer wealth efficiently.
- 20:08 - The use of life insurance to transfer wealth to the next generation, both term and whole life policies, and the benefits of irrevocable life insurance trusts.
- 24:58 - Communication with family and advisors is essential for effective estate planning, discussing assets, beneficiaries, and making sure everyone knows where everything is.
- 27:05 - Preparing heirs for the wealth transfer is just as important as preparing the wealth itself, having open discussions about assets and wishes helps to ensure a smooth transition.
- 28:14 - Alessandra emphasizes checking beneficiaries on all assets and prioritizing estate planning as minors turn 18 to protect their interests in the future. Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Alessandra Messineo Long
- https://amlonglaw.com/
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How to Listen: Subscribe on Youtube Listen on Spotify
Joining Tom for a second time is friend and colleague Bryan McCloskey of Revisionist Wealth. Continuing up in their previous episode “The Retirement Experiment is Failing,” Tom and Bryan talk more about the definition of retirement and how most people focus on net worth but in retirement, it’s about cash flow and income. Pensions are no longer common for most outside of government jobs; money is being challenged and markets are in turmoil. It’s important to maximize the use of assets to create the most income from a dollar. Listen in to learn why thinking about money in accumulation, distribution, and preservation can help you maximize efficiency and own your future to create freedom and reduce stress.
Highlights
- 03:57 Things to think about prior to retirement
- 07:38 There are different tools that can be used to complement the normal 401k
- 08:49 What a pension is
- 11:11 Annuity as a better or different tool to improve outcomes
- 12:53 Living with your cash flow
- 20:52 How to achieve the best plan to reduce taxes
- 26:40 The ability of some annuities to create paychecks
- 29:36 Needing good experts who’ll share good wisdom and education with you Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Bryan McCloskey
- https://www.revisionistwealth.com/
- https://www.facebook.com/groups/973135963398734
- https://www.linkedin.com/in/bryanmccloskey
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Throughout my life and business, I’ve always tried to learn from the success of others. I take what resonates with me and move forward with trying to implement it. One of my favorite success stories is that of John D Rockefeller who came from humble beginnings as a bookkeeper to become the richest man in the country when he retired. Staying open-minded is key to increasing your success as new ideas and opportunities come your way. If you focus on being successful, you’re likely going to become wealthy. He attributes checking your ego, creating poise and reserve, and paying attention to details part of his success. Learn some of the key strategies that made John D Rockefeller the wealthiest man in the country when he retired and the richest man in the world when he died.
Highlights
- 01:54 Learning about Rockefeller’s background
- 02:47 The six key areas of success
- 05:19 Persist and stay motivated and try to be comfortable with failing
- 06:14 We can't always succeed immediately
- 11:25 Trying to gather information from others and then make your own decisions about things
- 16:54 The importance of paying attention to details
- 21:27 There's a substantial amount of wealth being eroded that can make a massive difference Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
People don’t often talk about the emotions tied to their finances. Financial Advisor Mark Bertrang joins Tom as they talk about the emotional side of personal finances. In his book, Investments Don’t Hug, he shares true life stories of families who have gone through significant pain by loss of a loved one unexpectedly and how having a life insurance plan provided such value for those families. He calls it a “love letter” to your family to show you truly cared for them to have it in place. Mark also shares his strategy so spend each dollar of his assets while alive and then have the bucket fill up for the next generation. Listen in to learn about sharing the power of life insurance as an asset and how it can create an impact that will last for generations.
Highlights
- 01:44 Who’s Mark Bertrang and what is his background all about?
- 05:55 The biggest thing he learned from his long time in the industry
- 10:39 How a lot of people are just accumulating, accumulating, accumulating, and have all the money, but are not living
- 16:26 Understanding the book, Investments Don't Hug
- 25:37 The power of life insurance assets to impact generations
- 37:39 Giving us the opportunity to expand our thinking of what is possible
- 42:18 The biggest amount of money that started America was actually insurance companies Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- https://www.amazon.com/Investments-Dont-Hug-Embracing-Insurance-ebook/dp/B01N0WIOTE?ref_=ast_author_mpb
- Connect with Mark Bertrang
- https://www.bertrangfinancial.com/
- https://www.linkedin.com/in/markbertrang
- mark@financialoscopy.com
- Investments Don't Hug: Embracing the Life Insurance Asset: https://www.amazon.com/Investments-Dont-Hug-Embracing-Insurance-ebook/dp/B01N0WIOTE?ref_=ast_author_mpb
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How to Listen: Subscribe on Youtube Listen on Spotify
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 safeguard and protect our wealth
- 03:38 The core elements of building a strong financial foundation
- 04:28 Helping people understand what are the basics around building good money habits like saving on a consistent basis
- 07:53 Protection, education, and multiple-stream income
- 08:51 Taxes are our number one expense
- 13:29 Getting some guaranteed sources of income
- 14:51 Having some tax-free source of income Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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. Tune is as Monica shares with Tom her opinion on the best way to pay for college, the difference between a wealth builder strategy/whole life policy/529 plan, and the biggest mistake families make around paying for college. You’ll learn a better way to fund college.
Highlights
- 00:08 - Who’s today’s guest?
- 01:21 - Being hugely passionate about college planning.
- 02:32 - How did she get into the focus of college planning?
- 07:58 - The expense of college.
- 15:22 - Filling out a form called the FAFSA.
- 18:02 - Why traditional financial planning is failing.
- 18:43 - A 529 plan or a 401k plan aren’t bad. It’s just that people don't completely understand how these programs work.
- 20:56 - There is so much misinformation and downright lies about financial aid.
- 21:59 - The government expects families to pay 20 to 30% of their gross income to educate one child.
- 25:22 - It's really a crisis that we have going on, not only for our parents, but think about how many students don't have parents help.
- 27:31 - If you're going into STEM, science, technology, engineering, or math, there is no other pathway. You do have to go through college.
- 31:32 - In our public schools, our college counselors are so burdened and overwhelmed with the issues that they have to deal with that college planning is not really at the top of their list.
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Monica Felton
- https://www.monicafelton.com/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 - spending what we make so we can’t save enough. It’s time to start using your scarcest resource, your time, to create the most impact. I highly recommend picking up this book and giving it a read. It will help you recognize the human behaviors that might be holding you back. Then schedule a call with me so we can help create habits towards financial freedom!
Highlights
- 00:50 The connection between habits, productivity, and progressing in life
- 03:14 How human behaviors can hurt you
- 03:22 What is Arrival Syndrome?
- 06:27 Building your skills and knowledge base to improve the areas of your life
- 08:17 The concept of Parkinson’s Law according to R. Nelson Nash
- 11:10 Building habits to continue saving money amidst your expense rising to your income Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 wealth accumulation. Although insurance is not the most exciting topic to discuss, it does provide the ability for people to not have to worry about the protection side since it’s covered. Freedom and control of life requires taking responsibility.
Highlights
- 00:25 Who is EJ Fernandez?
- 01:54 What his background and business is all about
- 05:50 Achieving work-life balance in building generational wealth
- 06:47 Taking charge and having the need to improve himself personally and professionally
- 11:55 Investing in yourself and in your business to build some generational wealth
- 14:31 How EJ prioritizes things
- 19:55 Advice to people who want to start investing in themselves and their business
- 23:39 Exploring the benefits of personal insurance and building referral networks
- 29:41 Taking action and control to protect what matters in life
- 31:58 Achieving wealth beyond the numbers Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with EJ Fernandez
- https://edjamesins.com/
- https://www.linkedin.com/in/ej-fernandez
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 retirement accounts), and many invest in things they don’t know or understand (more like gambling). Schedule a call with me today to help understand if you are saving, investing, or gambling with your wealth. My goal is to help you create the freedom of life to have options to do what you want, with who you want, and when you want.
Highlights
- 00:49 Exploring the gambling industry during uncertain times
- 02:31 The differences between saving, investing, and gambling in your personal finances
- 03:47 Investing vs Gambling: The risks and rewards
- 09:18 Tips on how you can get a head start with investing
- 12:18 Exploring investment opportunities: A guide to financial freedom and control Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 estate investing by protecting their assets and understanding the supply chain issues
- 11:14 Issues that owners should be thinking about regarding their properties
- 15:23 Insurance costs as a major factor in owning a property
- 18:14 Considerations to think about when you’re starting a business
- 21:58 Insurance options for businesses suffering from data breach exposure
- 24:45 The importance of cybersecurity and data protection
- 29:10 Emerging risks to watch out for in your business
- 34:51 Other considerations when getting a commercial insurance Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Kevin Micinilio
- https://shoffdarby.com/
- https://www.linkedin.com/in/kevin-micinilio-759a2a212
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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
- 00:30 Freedom as a challenge
- 02:37 The definition of freedom
- 04:46 Impact of conformity on personal freedom of choice
- 05:47 The power of self-determination and the freedom of choice
- 09:54 How to prioritize time for personal growth
- 11:52 Impact of banks, financial institutions, and the government on personal wealth and finances
- 16:15 Investing strategies: Mitigating risks and staying in your lane
- 18:57 Strategies for tax mitigation and increasing wealth freedom
- 20:17 Reducing tax liability and increasing financial freedom Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 his business and venturing in entrepreneurship
- 03:22 Estate planning and business planning services discussion
- 07:29 Having the ability to scale your business
- 10:03 Creating a stress-free legal document process using estate planning software and state-specific documents
- 14:21 The importance of updating estate planning documents when moving to a new state
- 16:05 The role of HIPAA laws and Powers of Attorney for incapacitated individuals
- 20:55 The importance of estate planning
- 22:41 Getting into estate planning as a beginner
- 28:09 The difference between a will and a trust in estate planning
- 29:13 Process of transferring assets and getting signatures
- 31:31 Benefits of establishing a trust vs a will
- 32:21 Simplifying estate Planning
- 35:16 Different ways to connect to Jim Burch Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Jim Burch
- https://easylegalplanning.com/
- https://www.linkedin.com/in/jiburch
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 explains how to assess those areas of your financial life.
Highlights
- 00:57 The reality of life
- 02:23 Are we prepared for what may come?
- 04:08 How to protect yourself and be prepared
- 07:42 Making sure that you’re protected during the rainy day with having some extra cash
- 09:40 Reevaluating your debt situation
- 11:05 Cashflow as the life flow of our financial lives
- 12:59 Ways to add more value to your business
- 16:18 Prioritizing your basic goals for the year to help you prepare for what’s coming Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 and listen to learn where you can invest to bring more benefits and certainty to your life. Tom and Dave provide you with a glimpse into alternative investments that are atypical and can bring cash flow and tax benefits.
Highlights
- 00:09 Who is Dave Zook?
- 01:20 How he got started in his journey of being an entrepreneur
- 04:33 Experience in real estate
- 08:32 Exploring alternative investments
- 11:57 Getting passive income as an alternative to reaching financial security
- 17:06 Investment strategies that Dave tried
- 19:01 Investing in different asset classes during the changing market conditions
- 24:35 Growth, income, and tax benefits through investment opportunities
- 25:32 Different asset classes for investing
- 28:10 Investing in natural gas funds Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Dave Zook
- https://www.therealassetinvestor.com/
- https://www.linkedin.com/in/dave-zook-63765a15
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
Serial Entrepreneur Marco Santarelli who started investing at the age of 18, joins the podcast today to talk about gaining financial freedom since he didn’t have it during his childhood. After building over 84 Doors in his real estate portfolio, many started asking him for help but he didn’t have the time. This is where his turnkey investing business began. He’s now helping others build financial freedom through real estate investing out of state. They discuss how others can invest in his business through a debt fund to loan money to him and his team to get sizable returns. It’s better than keeping money in the bank earning next to nothing. If you’re interested in real estate investing but don’t know where to start, this episode is for you!
Highlights
- 00:09 Who is Marco Santarelli?
- 00:26 How he grew up and what shaped him to think about business and finance
- 03:56 Getting a mentor
- 07:27 Learning from the experiences and failures in entrepreneurship
- 10:27 Marco’s real estate investing journey: From investing personally, buying 84 Doors to mentoring investors
- 13:26 Investing locally versus investing from afar
- 16:10 Exploring the benefits of market agnostic investing
- 18:50 Taking a top-down approach to real estate investing
- 22:08 High yield promissory notes to beat inflation
- 27:00 What their diversified investment portfolio overview looks like
- 30:32 Exploring the formula for a good life
- 33:20 Best places to reach out to Marco Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Marco Santarelli
- https://www.noradarealestate.com/
- https://www.linkedin.com/in/marcosantarelli
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 to take them. Listen in and schedule a call with me to learn how WL Insurance can be a valuable asset to have if you’re concerned with future taxes. It’s important to be open-minded and take responsibility for your wealth and life.
Highlights
- 0:24 The history and impact of our biggest expense, taxes
- 3:23 Best place to store your cash
- 3:49 The benefits of using whole life insurance
- 7:01 Using your dollars for your life goals
- 7:54 Two ways to leverage your cash value in whole life insurance policies
- 11:06 Are death benefits income taxable?
- 12:59 The benefits of whole life insurance and Roth IRAs for estate planning
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 life you really want every day?
Highlights
- Exploring financial freedom and control. - 0:11
- The two models for building assets and achieving financial independence. - 3:36
- Exploring the velocity of money: Optimizing financial freedom and control. - 7:46
- Creating cash flow for financial freedom. - 9:18 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 bring increased awareness to this risk!
Highlights
- How Joe Vitti started in cybersecurity. - 1:30
- The most common risks in cybersecurity and the protection strategies that people should be aware of. - 3:14
- The importance of cybersecurity hygiene and password management. - 6:55
- Credit monitoring and endpoint protection. - 11:00
- Exploring the dark web and protecting your business data. - 13:06
- Monitoring the networks to protect against cyber attacks. - 16:42
- Undergoing cybersecurity awareness and training. - 18:00
- Identifying the potential risks and solutions. - 22:01
- New trends in the cybersecurity world to watch out for. - 24:02
- Cybersecurity risk assessment for business owners. - 26:57
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Joe Vitti
- https://impetra.com/
- https://www.linkedin.com/in/joe-vitti
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 you income or borrowing against your policy to fund your premium until things solidify. These are just a few examples of where balance and flexibility lead to freedom in life and how having a Family Bank helps you get there.
Highlights
- The concept of impermanence. - 1:19
- What infinite banking is. - 3:13
- How you can continue funding your policy. - 5:39
- Storing cash as a strategy. - 9:03
- Exploring the different options for paying your life insurance premiums. - 14:00 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 focusing on things you can control and impact.
Listen in to learn about stoicism and the obstacles in the way and how these things impacted Brandon’s life. Hear about how he now manages his personal finances and IBC fits into his core principles and mindset control!
Highlights
- Who is Brandon Jenkins? - 0:02
- The journey to Tier One Life Insurance. - 2:48
- Working with different teams. - 5:10
- How he evolved in his business, his practice, and his life. - 7:38
- Guiding principles when running a business. - 10:50
- Knocking out the negative mindset during uncertain times. - 13:26
- How to be more resilient in life: The importance of mindset in overcoming obstacles. - 15:17
- Helping clients in the financial world. - 19:40
- The preferred way to invest money. - 25:41
- Wealth and money: What matters most?- 33:37
- Best place to interact with Brandon. - 35:07 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Brandon Jenkins
- https://tieronelifeinsurance.com/
- https://www.linkedin.com/in/brandon-l-jenkins
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 ways to use your Death Benefit while living? You can use it to spend down other assets and reduce taxes, annuitize the policy to create a stream of income, or reverse mortgage (to name a few). Learn about how to maximize the impact while living and think differently about the death benefit while living.
Highlights
- Why is Powerball a craze right now? - 0:15
- Getting insurance while you’re in your younger years. - 2:01 Retirement planning: Maximizing your life and passing on a significant amount of wealth to those you left behind. - 3:58
- Death benefits and asset coordination. - 4:31
- The benefits of having a death benefit in your life insurance policy. - 5;49
- Using your death benefit for your retirement. - 8:21
- Utilizing in a reverse mortgage. - 10:22
- Benefits of utilizing your pensions. - 11:57
- How charitable the main trust works. - 13:29
- Using your death benefit while you’re still alive. - 16:00 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 differently and how they could be used to create the maximum wealth by having them do as many jobs as possible. Tune in to hear how maximizing the efficiency from your resources to reach your maximum potential in life to create the highest impact.
Highlights
- Are people satisfied with their jobs? - 0:43
- Ways people are building wealth. - 4:14
- Opening up to the world of possibilities and storing wealth better. - 5:09
- Gary’s approach to handling real estate. - 7:35
- How to mitigate massive risks. - 10:24
- Importance of doing work you’re passionate about. - 13:00
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 obtain control of their life. Tune in to learn more about control and freedom in life.
Highlights
- Who is Michael Glatts? - 0:24
- How he got to where he is today in his job and in his business. - 1:48
- Leaving his career at Pfizer to pursue innovation. - 5:47
- The thought process: What helped him not to regret his decision of pursuing his passion? - 11:03
- Importance of mitigating risks. - 13:54
- The power of self-empowerment in career and life. - 16:37
- Overcoming challenges in life. - 20:10 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Michael Glatts
- https://901innovation.com/
- https://www.linkedin.com/in/michaelaglatts
- https://www.facebook.com/901Innovation/
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 turn negative into positive.
Highlights
- Tom’s personal experience surrounding inflation, interest rates, and the potential for recession. - 0:40
- Dealing with fear: How to overcome challenges and empower yourself. - 1:34
- The teachings of Buddhism are tied to perception, fulfillment, happiness, and satisfaction. - 3:15
- The empowerment of taking control of your finances to build long-term wealth. - 8:41
- Putting things in place and using knowledge as potential power. - 11:02 Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action Schedule a Call with Tom
How to Listen: Subscribe on Youtube Listen on Spotify
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 gains of a rental property. Make sure you are taking responsibility so you can protect and keep more of your wealth from your biggest asset.
Highlights
- Getting to know the guest, Erika Baldino. - 0:16
- How she got to where she is. - 1:17
- What is title insurance and why is it important? - 4:51
- The 1031 exchanges in real estate. - 14:40
- How to get started in real estate: What you need to know. - 20:13
- Enrolling your real estate property in AirBnB. - 25:33
- What Picasso is. - 26:39
- New and exciting things about Erika to watch out for. - 32:18
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Erika Baldino * https://www.kvnational.com/ * https://www.linkedin.com/in/erika-baldino-984a6625
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
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 wealth rather than hinder it.
Highlights
- How debt can impact your life negatively. - 2:23
- The two ways how you can take on debt. - 3:30
- What good debt is? - 5:47
- How you can access credit upon building your assets. - 6:47
- Using debt to invest. - 9:03
- The benefits of using other people’s money to leverage and invest. - 13:33
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
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 plan in place. With some planning, you can ensure your family is prepared and gains access to the wealth you want for them. Listen in on how to make an impact on the next generation.
Highlights
- Who is Rick Randall?
- The three-step strategy to design a plan
- Why some people are not talking about death and estate planning
- The importance of family meetings in estate planning
- Preparing heirs for wealth transfers through family meetings
- Inheritance: The real value is in the values
- Benefits of starting estate planning early
- Life insurance in estate planning
- Spousal lifetime access trusts: Why you should keep your estate plan updated
- The top reasons why people do an estate plan
- Avoiding death taxes and maximizing capital gains through estate planning
- Reviewing your estate plan
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Rick Randall * https://nnepa.com/ * https://www.linkedin.com/in/rickrandall52 * rick@lifespanusa.com
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
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 investing on his own. All this wouldn’t have happened without control of his family bank.
Highlights
- How a young player overcame early struggles in his career
- The power of positive thinking in overcoming adversity
- The benefits of real estate investing
- How to get started in real estate investing
- How Tom learned the ropes of the real estate world and how it worked for him
- Different types of real estate investments
- How to leverage other teams to invest in real estate
- Different ways to invest in real estate methodology for financial investments
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
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 receive?
- 7 key principles from "The Richest Man in Babylon" for financial success
- The building blocks of financial thinking
- 3 different ways to grow your wealth
- The hierarchy of wealth: Building your base and protecting your assets
- The different types of investments and how to mitigate risks
- Retirement and insurance planning for your future
- 7 ways to teach your kids about money
- The importance of talking about money in families
Episode Resources
- Richest Man in Babylon
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Youtube
Listen on Spotify
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 freedom.
Highlights
- The power of gratitude in achieving success
- The importance of a growth mindset in personal finance
- Understanding your financial situation
- How you can move forward and progress in achieving your financial goals
- Starting your journey of having the right mindset
- How having the right mindset can translate to your financial life
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
- Subscribe on Youtube
- Listen on Spotify
Today in part 3 of “Wealth Beyond the Numbers,” Tom talks about securing ultimate freedom and what it takes to get there. It starts with what was discussed in part one, owning the response and taking accountability. It’s important to try and see the bigger picture. We all face challenges we can’t always control. He describes how to get through obstacles in a logical fashion but also looks at them and learns how to move forward. Tom believes it’s about having the ability and mindset to tackle anything.
Highlights
- What the book Wealthy on the Numbers is about
- The different books that changed Tom’s perspective on life
- How to identify the key priorities in your life
- Why saying “NO” is an important thing
- How to create multiple streams of income
- What having the ultimate freedom means
Episode Resources * Man's Search for Meaning * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
- Subscribe on Youtube
- Listen on Spotify
In part 2 of “Wealth Beyond the Numbers," Tom focuses on building self-awareness and creating a unique impact. He talks about the importance of discovering yourself with questions like - what drives you, what do you value, and what do you want to become? These help you determine what you need to do each day to achieve your goals and values. When it comes to finances - these questions will help you invest in things you believe in and what you want to achieve with your financial life.
Highlights
- What are the different steps involved in building self-awareness and creating a unique impact?
- How Tammi Brannan helped Tom in refocusing his daily life
- The top five values that drive people in how they operate and make decisions
- How you can start growing your wealth
Episode Resources * The World’s Most Influential Values, In One Graphic * http://blueprintprocess.com/ * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
- Subscribe on Youtube
- Listen on Spotify
Joining today is Aaron Chapman, a seasoned loan originator joins Tom today to talk about the hardships that helped him get where he is today. They talk about optimized daily experiences that are sustainable and create confidence in people to help them move forward with real estate investing. Aaron believes IBC is the “holy grail” in creating wealth - the foundation for wealth that gives you options to then come and work with someone like him. Listen today to see how IBC and conventional funding can work together for you!
Who’s The Guest?
Aaron Chapman is a veteran in the finance industry. He started back in 1997 after exiting the mining, heavy equipment, operation, welding, and long haul truck driving. After entering the finance industry, his clientele has ranged from those purchasing their first home, building their dream home, or investing in multiple properties for long-term cash flow.
Highlights
- How did Aaron get started?
- How the accident back in 2008 impacted them in the long term.
- What is the definition of happiness for Aaron?
- The different factors are important in handling a deal.
- What determines the cash-on-cash return?
- What is the real value of the real estate?
- How to compute the value of your investments.
- Determining your positive and negative cash flow.
- How to get in touch and know more about Aaron?
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Aaron Chapman
- https://snmc.com/
- https://www.aaronbchapman.com/
- https://www.linkedin.com/in/aaronbchapman
- http://qjoinitiative.com/
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Apple Podcasts
Listen on Spotify
It's National Savings Day! In today's episode, Chris and Tom talk about the definition of saving vs investing, how banks operate, and different options for saving money (you guessed it - Whole Life Insurance). Chris shares some of the key benefits of how Whole Life Insurance could mimic what your bank account could do and then some. Listen to learn about maximizing efficiency and resources so you can get the biggest benefit and impact!
Who’s The Guest?
Chris Tormey has been working with clients in the financial industry for over three decades. Earlier in his career, he was a founder and risk management specialist for two hedge funds. Chris also began his career as a derivatives specialist and worked at several investment banks helping clients with money management and hedge funds.
Chris also earned his MBA in Investment Management at the University of Virginia’s Darden School of Business, where he was the Presiding Partner of the school’s investment fund and President of the Investment Club.
Highlights
- Who is Chris Tormey?
- Why is it hard for some people to save?
- What is the purpose of having savings?
- The best places to store your savings.
- What are the advantages and disadvantages of storing money in banks?
- The IRS’ involvement in insurances
- How can you set up your policy to start moving money? Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/
- https://www.linkedin.com/in/chris-tormey-318ab112
How to Listen:
Subscribe on Apple Podcasts
Listen on Spotify
If you haven’t heard the news, Tom’s book is now available for purchase! Tom is excited to share in this four-part series, a chapter-by-chapter review of “Wealth Beyond the Numbers.” In chapter 1, Tom focuses on owning your response and being accountable. Sometimes you have to take a step back and reflect on things - how are things going in our lives and being realistic and objective about it. Tom encourages you to think internally vs being pressured by what the external world dictates. Grab your copy of Tom’s book today!
Highlights
- Why did Tom write his book, Wealth Beyond the Numbers?
- What drives Tom to have satisfaction, enjoyment, and happiness in life?
- The core areas of your life that you should focus on differently.
- What are the five core, big areas that you need to evaluate to get a sense of your situation today?
- How can you efficiently use debt and turn bad debt into good debt?
- The tools and resources that Tom used to build wealth for his life and fulfill the life that he really wants.
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Apple Podcasts
Listen on Spotify
In today's episode, Tom is joined by Jeremy Kessler from Steel Breeze. With Jeremy’s experience in accounting and tax, they discuss the unanticipated way the tax code is set up as a set of incentives AND how you can partner with the government to invest. Whether or not it’s starting a business, investing in real estate, or even life insurance, don’t sleep on what the IRS could do for you!
Who’s The Guest?
Jeremy Kessler, CPA with more than 20 years of experience as a Certified Public Accountant. He has a wide range of accounting experience giving him an edge in providing assistance and advice to business owners with their periodic reporting, internal accounting, forecasting, and development and implementation of succession plans.
Highlights
- Guest Spotlight: Who is Jeremy Kessler and what’s his practice all about?
- How can you keep more of your wealth, freedom, and money?
- What are the basic things that can help you mitigate your taxes as a business?
- The tax benefits of real estate.
- What is the concept of buy, borrow, and die strategy?
- Giving back: The different ways for charitable giving and gifting?
- What is the Inflation Reduction Act?
- What are the benefits of paying taxes in the long run?
- The other services that Jeremy is offering to clients
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Jeremy Kessler * https://thesteelbreeze.com/
Who’s The Guest?
In this episode, Tom interviews Tammi Brannan, a celebrated motivational speaker, keynote speaker, and business owner who works with clients, including creators, seekers, and rebels who are thinking in unconventional ways. Tammi helps them to infuse that purpose into their careers and to live their lives more intentionally through her Blueprint Process program.
Summary
Joining today is Tammi Brannan of Blueprint Process; Tom’s friend and business coach. They talk about uncovering your purpose and passion in life to not only gain fulfillment but wealth too; the ways to create your blueprint and how to direct your focus to create the life you want.
Highlights
- Who is Tammi Brannan?
- What is it like for Tammi to create her own practice?
- How things that matter to you bring you passion and energy to have a better approach
- What the particular active system in the brain is and how does it work?
- How you can start making an impact through simple processes?
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Tammi Brannan * http://blueprintprocess.com/ * https://www.tammibrannan.com/ * https://www.linkedin.com/in/blueprintprocess
Call to Action
Schedule a Call with Tom
How to Listen:
Subscribe on Apple Podcasts
Listen on Spotify
In today's episode, Tom talks about saving vs investing and how they co-mingle in today's society. He references the book “Richest Man in Babylon” and the importance of paying yourself first. Tom explains strategies where your dollars can do so many different jobs at the same time. Tune in to learn about the different savings and investment accounts and what they can do for your dollars!
Highlights
- What the book, Richest Man in Babylon, is all about
- The difference between saving and investing
- Another option for safety: Treasury Bonds and Bills
- The best place to store your wealth long term
Episode Resources * Richest Man In Babylon * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Today, Tom is joined by the founder of 3D Money, Jeff Huston. Jeff started as a financial advisor and then moved into alternative investing. They discuss empowering their clients to take responsibility for their financial lives and how the government and wall street impact the decisions people make around their finances.
Highlights
- How Jeff Huston started with 3D Money
- What “don’t fight the fed” means
- How inflation can work for you
- How people are making their money if it’s not from the stock market
- The advantages and disadvantages of being an owner
- Profiles of business owners and investors that work well with 3D Money
- What 3D Money is
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Jeff Huston * https://3dmoney.com/ * https://thejeffhustonshow.com/
Alpesh Parmar joins Tom on the podcast today and they talk about his story as a fellow immigrant who got into technology. Unexpectedly letting go of his job, led him to a path of entrepreneurship and real estate investing. He now puts together deals for investors to participate in and works with cryptocurrency. Take a listen to learn how to have more than one source of income!
Highlights
- Who is Alpesh Parmar?
- From India to the Investment World: His journey and how he migrated to the investment world
- What are the other ways to invest and diversify in the stock market?
- How he transitioned from investing in small, single-family homes to multi-family mobile home parks
- How to get started in real estate even if you don’t have huge capital
- The new exciting trends in real estate investing now
- What Triple Net Lease is
- How he started in cryptocurrency investing
- What projects Alpesh and his team are preparing
- Where to learn more about Alpesh and his investment group
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Alpesh Parmar * https://wealthmatrs.com/ * alpesh@wealthmatrs.com * https://www.linkedin.com/in/wealth-matters-alpesh-parmar * https://www.facebook.com/wealthmatrs/
In the second part of Using the Family Bank for your Entire Life, Tom shares more details on how to use it in quarter three, your prime earning years (41-60), and quarter 4, post 60, as you head into retirement and the next phase of your life. He talks about legacy planning and thinking about the next generation(s) when it comes to the Family Bank.
Highlights
- What happens if your family bank doesn’t have any room left in it
- How you can strategically use and leverage your assets instead of just spending them
- What is the purpose of term insurance and why families should start adding it to their protection line
- When is the best time to get yourself insured
- What happens once the policyholder passes away
- What are the different stages to consider before getting a term insurance?
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
In today's episode, Tom focuses on a topic centered around how Family Banking can be used all through life. He equates it to quarters/periods in a game and covers the first half of life. Tom breaks it down even further into quarter one (0-25 yrs) and quarter two (26-40 yrs). Stay tuned for Part 2 coming soon!
Highlights
- Why read the book, the Wealthy Garden
- How discomfort can help push you to your boundaries of achieving what you want
- What the purpose of family banking is
- When is the best time to get insurance
- When you should start teaching your kids about money and finances
- How you can use your money in life insurance as collateral
Episode Resources * Becoming Your Own Banker * Richest Man In Babylon * Rich Dad Poor Dad * The Wealthy Gardener * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Today, Tom shares the concept of having adequate resources to impact the most important things in life. Unfortunately, there are a number of ways people are losing wealth that they don't know about or are unnecessary if they were open to new options. He walks through each of the core ones and provides a brief overview of them with some examples. Tom will be going more into them along the path of this podcast.
Highlights
- How watching his son play sports reminded Tom how important it is to develop the idea of teamwork and collaboration
- What resources you can use to become the best and impact as much as you can on this earth
- What the three buckets of wealth are
- How corporations are playing a big role in our world
- How you can reduce your expenses and keep more of the money moving and growing
- What inflation is
- What type of investment can benefit from inflation
- How using the family banking environment can help you leverage someone else’s money and allow your mind to continue to grow
- What the six hidden wealth rotors are that impact your ability today to save and invest more
Episode Resources
- The Top Five Regrets of the Dying
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
In this episode, Tom is joined by Cash Flow Specialist, Bruce Wehner from e3wealth. Tom and Bruce discuss the importance of constantly growing and learning, thinking long-term for success (not instant gratification), taking responsibility/ownership for your actions, and entrepreneurship.
Highlights
- Guest Spotlight: Who Bruce Wehner is
- What the four processes are to communicate effectively
- Bruce’s background and how he got started
- For Bruce, what is infinite banking and how can people benefit from it?
- Delayed gratification
- What you should be looking for in a financial institution
- Why is it a must to get life insurance?
- What motivated Bruce to find out how money works
- How slowing down can help you move forward
- How athletes and entertainers make the most money on average
- How to reach out to Bruce
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Bruce Wehner * https://e3wealth.com/ * https://www.linkedin.com/in/bruce-wehner-5619b5a * bwehner@e3wealth.com
John Fortes, the founder of Supreme Equity Fund, joins the podcast as they talk about different ways to be successful in real estate investments. They talk about the different types of loan opportunities and how John was able to leverage his Whole Life Insurance policy, the Infinite Banking Concept, to expand his business. Tom and John believe investing in real estate is the more reliable way to start earning passive income. Listen now to learn more about the benefits of passive income and how to get started today.
Highlights
- Who is John Fortes
- How John got into real estate
- What Supreme Equity is
- The key things to know before getting started in investing in real estate
- How he used his 401k to invest in real estate
- What investing in something that John offers looks like
- How they apply tax breaks to their business
- What’s the best way to reach out to John
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with John Fortes * https://johnfortes.com/ * https://supremeequity.fund/ * john@fortesco.com
What do you want other people to say to you when you’re gone? What kind of life story would you like others to write about you?
For today’s episode, Tom shares his insights and takeaways from the PEM summit he attended recently. He talks about the effective ways how you can spend more time with yourself and others. Tom also discusses the different steps on how you can create a legacy and impact other people’s lives.
Highlights
- What the main themes of the conference are
- Effective ways on how you can spend time with yourself and with others
- How you can enhance the things you do at work, in your business, and in your family life
- What Tom’s takeaways are from the conference
- What leverage is
- What you could do to give more time, more compassion and more time to others
- What are the two ways people die in life
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
I interviewed Bryan McCloskey from Revisionist Wealth and we chatted about some of the key challenges Americans are facing with retirement. We spoke about how the game changes in retirement and how taxes can have a big impact.
Highlights
- Who today’s guest is
- How did Bryan get to specialize in the space of retirement
- What contributed to the statistics of 50% of people ages 55 to 65 having no savings for retirement
- The transition of focusing on accumulating wealth and creating income for retirement
- How you can build wealth that can help you in retirement without paying a large tax
- How you can use your income freely and pass it on to the next generation
- How Bryan helps his clients with their personal finances before their retirement
- Why investments are not the solution to everything in retirement
- What are the basic things to think about as you’re building your wealth in preparation for retirement
- How to make retirement a bit less complicated
- How to reach Bryan
Episode Resources * The Wealthy Gardener * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Bryan McCloskey * https://www.facebook.com/groups/973135963398734 * https://revisionistwealth.com/ * https://www.linkedin.com/in/bryanmccloskey
Building wealth is always a very interesting topic: It sparks debate between the get rich schemes to trading your time for money building your own businesses or engaging in trading and stocks.
But what really is the secret to building your wealth?
For today’s episode, Tom explains the two paths we are on in our financial lives. He talks about how wealth works and what are the common challenges most people face once they start to reach for the maximum potential of their wealth. Tom also shares his secret about how he helps other people progress and build the wealth that they want for themselves and their families.
Highlights
- Tom’s experiences growing up
- What the concept of offense versus defense means
- How The Parallel Paths concept works
- How wealth works
- Expectations vs Reality: What challenges you can face as you reach for the maximum potential of your wealth
- What the two different options are to make wealth work for you
- How Tom helps people experience and learn more about their financial life
- The foundational piece to progress and build the wealth you want for your family
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Interview with Gary Pinkerton from Paradigm Life. We discussed the concept of freedom as it relates to work/business and our personal finances.
Highlights
- Who Gary Pinkerton is
- His big goals in life
- How you can get freedom in this world
- What financial blackmail is and why people are suffering from it
- How Gary migrated from the Naval Academy to what he’s doing today
- Why you should have control over your decisions
- While developing his own financial philosophy and mindset around things, what were the key points that he had and how did he find out how to do this better?
- The concepts in Patrick Donahue’s book provide a fresher perspective about money and how to build it
- Defining it: The meaning of the point of maximum control and investment
- What he learned from working and dealing with entrepreneurs and business owners
- What he is invested in today
- What his focus is now
- The good things that can happen even during the recession
- How to reach out to Gary
Episode Resources * Becoming Your Own Banker * Heads I Win, Tails You Lose * https://paradigmlife.net/resources/97/hierarchy-of-wealth * Connect with Tom Suvansri * https://perennialpride.com/ * https://perennialpride.com/resources/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA * Connect with Gary Pinkerton * https://garypinkerton.com/ * https://garypinkerton.com/about/ * Gary’s Gulch Podcast
Whether you have a business or you’re working for one, no matter how big or small it is, cash is the lifeblood that pumps through the veins of that business. Profit is important, but having a positive cash flow is what keeps the business going and increases the company’s value too.
And this applies to investing in yourself.
For today’s episode, Tom shares his ideas on investing and creating cash flow after building your foundation of a family bank. He also talks about how you can start deploying your assets and the things that you can have more control over. Tom narrates the three big areas that you should consider and focus on not only to boost your productivity but also to give your business the legs to continue growing.
Highlights
- What Tom’s father’s impact professionally and personally
- What today’s topics are about
- When we start building up our foundation of savings and protections for ourselves and our wealth, then how do we deploy those assets?
- What are the things that you can have more control over?
- What are the three big areas you should consider to boost your productivity and give your business the legs to continue to grow
- The benefits of direct ownership in real estate
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
I discuss the option of a family banking strategy (Infinite Banking) to establish a foundation for one's financial life.
Highlights
- How do we find the time to do all the things we want and to impact the things we want
- What the solution is when you’re finding it difficult to find time
- How can you buy back more of your time through your resources
- What are the two biggest culprits why the money you’re making is flying out the door
- How we can better utilize our resources to maximize our wealth?
Episode Resources
- Becoming Your Own Banker
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
This is the initial episode of the podcast in which I share my parents' journey to come to America to have a better life. Although they seemingly had tremendous success, their lack of knowledge and connection to advisors causes them to lose it all. Their struggles and failures were a gift for me as they pushed me to take ownership of my family's finances and pushed me to start my own financial practice to empower others to do the same.
Highlights
- What to expect from the Perennial Pride podcast
- How Tom’s parents influenced his view on finances
- How Tom’s father was able to survive moving to the US for further studies
- The challenges his parents faced with their finances
- What inspired Tom to help generations of not only his family, but others to grow
- Who the podcast is for
Episode Resources * Connect with Tom Suvansri * https://perennialpride.com/ * https://www.facebook.com/perennialpride/ * https://twitter.com/perennialpride * https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Tom Suvansri is passionate about protecting and growing his family’s wealth and he shares how you can do it too. In this show, you will learn strategies that leverage economic principles in order to achieve increased financial control, cash flow, and tax advantages that last generations. It’s time to eliminate uncertainty and create wealth strategies to build a family legacy.