Passive Income Unlocked

How can you break free from the traditional 9-to-5 grind and create a life that allows you to prioritize what truly matters?

In this segment of Mindset Shorts, Suja welcomes back Whitney Elkins Hutton to discuss her journey towards achieving financial and time freedom. Whitney shares her personal experiences and the turning points that led her to realize the importance of being present for her family and having the flexibility to make choices that align with her values. Throughout the conversation, they explore the concept of the five freedoms - financial, time, choice, location, and impact - and how building a solid financial foundation can unlock these freedoms. Whitney emphasizes that while the journey may not be overnight, with determination and the right strategies, it is possible to break free from the traditional 9-to-5 and create a life on your own terms.

Whitney Elkins-Hutten is the Director of Investor Education at PassiveInvesting.com, Founder of AshWealth.com, author of Money for Tomorrow: How to Build and Protect Generational Wealth published with BiggerPockets, co-author of the international #1 bestseller Resilient Women in Life and Business, host of the Passive Investing Made Simple YouTube show and podcasts, and a partner in $800MM+ in real estate — including over 6500+ residential units, 15 express car washes, and more than 2200+ self-storage units across 11 states—and experience flipping over $5MM in residential real estate.

(00:00:00 - 00:02:00) The Turning Point: Whitney's Father's Health Crisis

- Whitney shares how her father's health crisis in 2002-2003 was a turning point in her journey towards time and financial freedom

- She realized the importance of being there for her family during tough times

- This experience made her question the traditional work structure and its limitations

(00:02:00 - 00:04:00) Scaling Up and Facing Layoffs

- As Whitney's daughter was born, she sought more flexibility in her schedule and began investing in real estate

- In 2017, her department faced layoffs, and she was eventually served a pink slip after dedicating long hours to the company

- This experience further solidified her desire to create a life with more control over her time

(00:04:00 - 00:06:00) Tasting Freedom and Never Looking Back

- After being laid off, Whitney took an extended camping trip with her family and realized the power of saying "no" to immediate job offers

- She discovered the empowerment that comes with having the financial foundation to make choices that prioritize her family and well-being

- Once she experienced this freedom, she knew she could never go back to the traditional work structure

(00:06:00 - 00:08:00) Building a Financial Foundation for Empowerment

- Whitney emphasizes that while she didn't have a substantial passive income at the time, her financial foundation allowed her to say "no" for a period of time

- She discusses the importance of building a solid financial foundation to gain the ability to set boundaries and make empowered decisions

- Whitney shares how she continued to prioritize her family's needs even as she transitioned into full-time real estate investing

(00:08:00 - 00:11:00) The Five Freedoms: Unlocking a Life of Choice

- Suja and Whitney discuss the five freedoms: financial, time, choice, location, and impact

- They explore how financial freedom can be the key to unlocking the other freedoms

- Whitney encourages listeners to identify which freedoms they truly desire and to work towards creating a life that aligns with those values

Quote:

- "Feeling empowered that you have the right financial foundation and the right amount of passive income coming into where you can actually set some boundaries for yourself is so empowering." - Whitney Elkins Hutton

Connect with Whitney:

Website: PassiveInvestingwithWhitney.com

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

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Can pushing yourself to do uncomfortable things on a daily basis really transform your mindset and lead to success in both your personal and professional life?

In this thought-provoking segment of Mindset Shorts, host Suja Shyam welcomes back Victoria McGuire, a seasoned marathon runner and successful multifamily investor. Victoria shares her insights on how the mental toughness and commitment required to run marathons have translated into her success in real estate investing. She emphasizes the importance of doing things you don't want to do and being comfortable with discomfort in order to build mental resilience. Victoria also discusses her experience with the 75 Hard program, a 75-day challenge designed to cultivate self-discipline and mental toughness through daily tasks such as workouts, reading, and adhering to a strict diet. Throughout the episode, Victoria highlights the parallels between the dedication needed to complete a marathon and the perseverance required to succeed in the multifamily investment space.

Victoria McGuire is a real estate investor based in St Petersburg, Florida. She and her husband, Marv, started building their real estate portfolio in the early 2000s before pivoting to larger investments and founding Heartsill Capital Partners. Now they partner with well-established operators on larger multifamily deals to help everyday people accelerate their financial freedom and generate legacy-building wealth. Victoria and her husband specifically target investments in Florida, Georgia, South Carolina, and Texas.

[00:00:00 - 00:02:00] "Marathons and Multifamily: The Power of Commitment"

- Mental toughness is key to success in both marathon running and multifamily investing

- Commitment and drive are essential to pushing through challenges

- Consistently doing things you don't want to do helps build mental resilience

[00:02:00 - 00:04:00] "Embracing Discomfort: The Path to Growth"

- Self-discipline involves doing difficult things, even when it's hard

- Going through tough periods is often necessary to reach success

- Mental toughness allows you to persevere through challenges

[00:04:00 - 00:06:00] "75 Hard: A Journey to Mental Resilience"

- The 75 Hard program consists of five daily tasks designed to build mental toughness

- Tasks include drinking a gallon of water, reading 10 pages of a nonfiction book, following a diet, completing two 45-minute workouts, and taking progress pictures

- Missing any task requires starting the program over from day one

[00:06:00 - 00:07:00] "Navigating Challenges: Strategies for Success"

- Having a supportive partner can make challenging programs like 75 Hard more manageable

- Empty nesters may find it easier to stick to strict routines without the added responsibilities of parenting

- Incorporating variety in workouts can help maintain interest and motivation

[00:07:00 - 00:08:00] "Embracing the Journey: Final Thoughts"

- Trying a program like 75 Hard at least once can have a significant impact on personal growth

- Mental toughness and self-discipline can be cultivated through consistent effort

- Embracing discomfort and pushing through challenges can lead to success in all areas of life

Quotes:

"A key part of mental toughness is just doing things that you don't want to do and being comfortable being uncomfortable." - Victoria McGuire

"Sometimes you've got to go through bad periods of your life to get to the good. And I think mental toughness helps you just to get through those." - Victoria McGuire

Connect with Victoria:

Website: https://heartsillcapitalpartners.com/

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

How can technology revolutionize the way passive investors manage their private investments and streamline their financial journey?

In this insightful episode, Sujata Shyam sits down with Litan Yahav, a successful entrepreneur and passive investor, to discuss his journey from selling his 3D diamond imaging startup to navigating the world of private investing. Litan shares his experiences and the challenges he faced while managing multiple passive investments, which ultimately led him to create Vyzer, a platform designed to help passive investors track and manage their investments more efficiently. Throughout the conversation, Litan provides valuable insights into the risks and rewards of private investing, the importance of finding trustworthy operators, and the benefits of using technology to streamline the investment management process.

Litan is a Navy veteran and tech founder who exited his last startup nine years ago to become a full-time passive investor. Driven by his passion for generating wealth and passive income, he created Vyzer, a platform designed to automate the management and control of every type of investment product, keeping passive investing truly passive.

[00:00:00] - [00:03:00] From 3D Diamond Imaging to Private Investing

- Litan's background and entrepreneurial journey

- Exiting his startup and facing the question of how to deploy capital

- The decision to invest in private markets, particularly real estate

[00:03:00] - [00:07:00] Navigating the Risks and Rewards of Private Investing

- Comparing the risks of public and private markets

- The importance of finding trustworthy operators to mitigate human risk

- Balancing the risk of time investment with potential returns

[00:07:00] - [00:12:00] The Birth of Vyzer: Solving the Challenges of Managing Passive Investments

- The challenges of managing multiple passive investments and the lack of suitable solutions

- Building a software to track investments and the evolution into a startup

- Key features of Vyzer, including transaction reconciliation, cash flow planning, and investment insights

[00:12:00] - [00:18:00] Leveraging Data and Community Insights to Empower Investors

- Providing transparency into fund performance and investor activity

- Analyzing deal flow and offering educational content to help investors make informed decisions

- The value of a platform like Vyzer in streamlining administrative tasks and saving time

[00:18:00] - [00:21:00] The Future of Private Investing and Advice for Aspiring Investors

- The advantages of private markets, including cash flow, depreciation, and future upside

- Comparing the returns and time investment of passive and active investing

- Tips for getting started with private investing and building initial capital

Quotes:

"The biggest risk in private investing is finding people you can trust - operators who will not lie to you, steal from you, or scam you. That's super important." - Litan Yahav

"When comparing passive and active investing, it's crucial to look at the relationship between the returns and the work required. Sometimes, the exponentially higher time investment in active deals doesn't justify the marginally higher returns compared to passive investing." - Litan Yahav

Connect with Litan:

Website: vyzer.co

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

Can you really go from being broke to owning a private jet and generating six-figure passive income? Austin Zelan shares his journey and the strategies he uses to help others achieve financial freedom.

In this episode, Sujata Shyam sits down with Austin Zelan, the founder of Cashflow Preneur, to discuss how he helps people achieve six-figure passive income through various investment strategies. Austin shares his background in the corporate world and how he transitioned to full-time investing, focusing on time freedom, financial freedom, and geographical freedom. He explains how he diversified his portfolio and eventually discovered the potential of investing in private jets. Austin breaks down the private jet investment model, discussing the risks, benefits, and the process of upgrading to larger, more profitable jets over time. He also touches on strategies for accessing capital, such as zero-percent interest credit cards and business loans.

Austin Zelan is an American businessman, investor, TEDx speaker, and philanthropist. Throughout his career, he has always focused on productivity and efficiency, finding ways to have more positive impact with his work. This has allowed him to simultaneously run multiple successful businesses, pursue his PhD, and serve on several executive boards. He has a passion to help others grow and achieve more. Austin currently coaches students from around the world to increase their impact, while decreasing inefficiencies. He helps each student create Six Figures in Passive Income through his mentorship program. This proven framework creates generational wealth for his students and allows them to take back control of their time. This has allowed him to shape the investment space to become more efficient and more lucrative for investors.

00:00:00 - 00:03:59 | From Corporate Job to Full-Time Investor

- Austin's journey from working at Microsoft to pursuing his passion for investing

- Focusing on time freedom, financial freedom, and geographical freedom

- Diversifying his portfolio to protect his investor status

00:04:00 - 00:07:59 | Accessing Capital for Investments

- Teaching people how to access six-figure capital from banks at 0% interest

- Optimizing credit and working with relationship managers at banks

- Alternative methods of accessing capital, such as business loans and trading firms

00:08:00 - 00:13:59 | The Private Jet Investment Model

- Partnering with a charter company to invest in profitable private jets

- Generating monthly net cashflow and building equity in the jets

- Risks and risk mitigation strategies in the private jet model

00:14:00 - 00:20:59 | Scaling Up and Upgrading Jets

- The process of upgrading from a $5 million jet to a $25 million jet

- How a $200,000 investment can turn into $5 million in equity over time

- The potential for high annual cash flow returns on top of equity growth

00:21:00 - 00:24:59 | Refinancing and Investor Perks

- Refinancing strategies to lower monthly payments and upgrade jets

- Organizing exclusive getaways for jet investors to collaborate and network

- How to learn more about Austin's projects and connect with him

Quotes:

- "We've had people come in, get access to capital, and then use that money to invest into a private jet. So they went from basically being broke to a part owner of a private jet that's producing them a positive cashflow every single month." - Austin Zelan

- "We have people that come into the program, and once they get into the program, we were able to get them six figures in capital from the bank at 0 percent interest." - Austin Zelan

Connect with Austin:

Website: www.cashflowpreneur.com

Instagram: www.instagram.com/austinzelan

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

How can you ensure that your wealth not only grows but also lasts for generations to come?

In this enlightening episode, Whitney Elkins-Hutten, the director of investor education at passiveinvesting.com and founder of Ash Wealth, shares valuable insights from her new book, "Money for Tomorrow: How to Build and Protect Generational Wealth." Whitney discusses the importance of not only creating and growing wealth but also keeping it and passing it on to future generations. She delves into the common mistakes people make that lead to significant financial losses and offers practical strategies to safeguard and multiply wealth. Additionally, Whitney explores the potential of express car washes and preferred equity investments in today's market.

Whitney Elkins-Hutten is the Director of Investor Education at PassiveInvesting.com, Founder of AshWealth.com, author of Money for Tomorrow: How to Build and Protect Generational Wealth published with BiggerPockets, co-author of the international #1 bestseller Resilient Women in Life and Business, host of the Passive Investing Made Simple YouTube show and podcasts, and a partner in $800MM+ in real estate — including over 6500+ residential units, 15 express car washes, and more than 2200+ self-storage units across 11 states—and experience flipping over $5MM in residential real estate.

(00:00:00 - 00:09:59) Unlocking the Secrets to Generational Wealth

- Learn about Whitney's background and her motivation for writing "Money for Tomorrow"

- Discover the four rules you must master as an investor to win the wealth game

- Understand the importance of keeping wealth and avoiding common pitfalls

(00:10:00 - 00:15:59) The Seven Pillars of Wealth: A Blueprint for Success

- Explore the seven wealth pillars that help identify high-quality assets

- Learn how to grade investments based on these pillars

- Discover the ideal audience for "Money for Tomorrow" and how it can benefit both new and seasoned investors

(00:16:00 - 00:22:59) The Express Car Wash Revolution: A Lucrative Investment Opportunity

- Uncover the potential of express car washes as an emerging asset class

- Understand the key factors that make express car washes an attractive investment

- Learn about the operational optimizations and revenue models that drive profitability

(00:23:00 - 00:27:59) Diversifying Your Portfolio: The Power of Debt Funds

- Discover why investors are increasingly interested in debt funds in the current market

- Learn about the unique features of Whitney's debt fund and how it minimizes default risk

- Understand how debt funds can provide stable income and portfolio diversification

(00:28:00 - 00:33:00) Preferred Equity: Balancing Cash Flow and Growth

- Explore the benefits of preferred equity investments in today's market

- Learn how preferred equity can offer both guaranteed returns and profit participation

- Discover how Whitney's alliance fund capitalizes on opportunities in performing multifamily real estate

Key Quotes:

"Investors over concentrate on creating wealth and growing their wealth. Most investors lose it when they don't know how to keep it and pass it on to the next generation." - Whitney Elkins-Hutten

"If you don't have a plan for it, I guarantee you somebody else does." - Whitney Elkins-Hutten

Connect with Whitney:

Website: PassiveInvestingwithWhitney.com

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

How can mastering the art of underwriting multifamily deals transform your real estate investing journey and help you make informed decisions?

In this insightful episode, Victoria McGuire shares her expertise in multifamily real estate investing, particularly focusing on the crucial skill of underwriting. With a background in residential real estate, Victoria and her husband embarked on their multifamily journey to scale their investments and work together. She emphasizes the importance of thorough research, verifying information, and diving deep into rent roll analysis when evaluating potential deals. Victoria also discusses the competitive nature of the current market, the states and markets she prefers to invest in, and the significance of vetting sponsors when considering passive investing opportunities. Throughout the episode, she provides valuable tips and insights for both active and passive investors looking to navigate the multifamily real estate space successfully.

Victoria McGuire is a real estate investor based in St Petersburg, Florida. She and her husband, Marv, started building their real estate portfolio in the early 2000s before pivoting to larger investments and founding Heartsill Capital Partners. Now they partner with well-established operators on larger multifamily deals to help everyday people accelerate their financial freedom and generate legacy-building wealth. Victoria and her husband specifically target investments in Florida, Georgia, South Carolina, and Texas.

[00:00:00] - [00:04:00] From Residential Realtor to Multifamily Investor: Victoria's Journey

• Victoria's background in residential real estate and her transition to multifamily investing
• The challenges and rewards of managing Airbnb properties compared to long-term rentals
• The importance of finding the right underwriting model and becoming comfortable with the numbers

[00:04:00] - [00:10:00] Mastering the Art of Underwriting: Tips and Techniques

• The significance of verifying information and not relying solely on offering memorandums
• Analyzing T12s for patterns, anomalies, and one-time expenses
• Understanding the legal aspects of billing back utilities to tenants

[00:10:00] - [00:18:00] Navigating the Competitive Multifamily Market

• The importance of explaining your underwriting when presenting offers to sellers
• Preferred states and markets for investing, considering factors like landlord-friendly laws and demographics
• Vetting sponsors and asking the right questions when considering passive investing opportunities

[00:18:00] - [00:22:00] The Evolution of Multifamily Investing: Adapting to Market Changes

• The time-consuming nature of residential real estate compared to the flexibility of multifamily investing
• The process of underwriting deals and the importance of a quick underwriting tool
• Sellers' growing acceptance of the new market reality and the narrowing spread between realistic and desired prices

[00:22:00] - [00:26:00] Mitigating Risk and Making Informed Decisions

• The preference for agency debt over bridge debt to avoid refinancing pressure and market uncertainties
• The importance of under-promising and over-delivering when syndicating deals
• Knowing when to walk away from a deal and having a clear top price during negotiations

Quotes:

"Properties that are in good markets are still getting, you know, multiple offers. They're calling for highest and best on most of them." - Victoria McGuire

"If you're looking at passive investing, you want to vet who you're investing with. So if you're going to invest in a deal as an LP, don't be afraid to ask a lot of questions." - Victoria McGuire

Connect with Victoria:

Website: https://heartsillcapitalpartners.com/

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

Is the pursuit of rapid business growth and success worth sacrificing personal well-being and relationships?

In this insightful episode of Mindset Shorts, guest Engelo Rumora shares his personal experience and lessons learned from building a successful business at a breakneck pace. He candidly discusses the challenges of maintaining a work-life balance and the toll it took on his health and personal relationships. Engeloreflects on what he would do differently if given the chance, emphasizing the importance of slower, more sustainable growth. The episode explores the trade-offs between rapid success and personal fulfillment, offering valuable insights for entrepreneurs and business owners.

Engelo Rumora is a prominent real estate executive, investor, and CEO, known for his remarkable achievements in real estate investments, as well as his diverse entrepreneurial ventures spanning various industries. With a global portfolio encompassing countries such as the Bahamas, Croatia, Japan, Australia, and the USA, he has demonstrated a comprehensive understanding of investment strategies. Engelo's expertise extends beyond real estate to include tech, crypto, stocks, and oil funds. He is the driving force behind several successful companies, primarily in the real estate sector, having experienced both setbacks and triumphs. Engelo's enduring commitments are Ohio Cashflow, a leading turnkey property provider, and Oz Realty, a renowned property management firm. his career has seen involvement in over 1,000 real estate transactions, including flips and buy-and-holds.

00:00:00 - 00:02:00 - The Myth of Work-Life Balance

- Engelo argues that work-life balance doesn't exist when building a successful business

- Building a business requires long hours and sacrifices in personal life and health

- Reflecting on his experience, Engeloquestions whethis the sacrifices were worth it

00:02:00 - 00:04:00 - Lessons Learned and Personal Growth

- Engel shares how he would approach building his business differently, focusing on slower, more sustainable growth

- During a period of reflection and detox, Engelofound better health and financial success

- He now prioritizes self-care and a more balanced approach to work

00:04:00 - 00:06:00 - The Impact of Rapid Growth on Company Culture

- Engelo discusses the high turnover rate in his company due to the demanding pace

- He reflects on how slower growth could have fostered a better company culture and employee retention

- The business has become lean and automated, but Engelomisses the human element of supporting employees

00:06:00 - 00:08:00 - Balancing Growth and Longevity

- Engelo believes that slower growth would have led to greater longevity and expansion into multiple markets

- While He doesn't regret his path, He acknowledges the potential benefits of a different approach

- The importance of creating a business that supports not only the entrepreneur but also the employees and their families

00:08:00 - 00:10:00 - Ohio Cashflow: A Niche Real Estate Investment Business

- Engelo shares his business model of buying, renovating, and selling distressed properties to passive investors

- The company focuses on the Toledo, Ohio market, providing cash flow opportunities for investors

- Engelo reflects on his personal journey and the lessons He's learned as an entrepreneur

Quotes:

"Whoever is saying work-life balance, I'm sorry, but it doesn't exist because if you want to build a large business and a successful business, what balance is there?" - Engelo Rumora

"Never been fitter, never been healthier. Look now I'm back in the grind. You know, I'm, I'm, I want to scale my property management company. I'm looking at doing some great things with my, with my Turkey business. And I'm grinding again." - Engelo Rumora

Connect with Engelo:

Website: https://ohiocashflow.com/

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

Can a classic book from the 1930s still hold the key to achieving success and wealth in today's modern world?

In this thought-provoking episode, Suja welcomes back Vessi Kapoulian to discuss the profound impact that the timeless book "Think and Grow Rich" by Napoleon Hill had on her life and mindset. Vessi shares how the book's principles helped her navigate career changes, embrace real estate investing, and cultivate a success-oriented mindset. She delves into the importance of having a burning desire, focusing on long-term goals, and surrounding oneself with positive influences. Throughout the conversation, Vessi reveals practical insights and daily routines that have transformed her life, emphasizing the power of consistency and persistence in the pursuit of one's dreams.

Vessi Kapoulian, Founder of Dream Believe Achieve Capital Group, grew up in Bulgaria and dreamed of coming to the US. With a scholarship, she made her dream a reality. After climbing the corporate ladder, Vessi discovered real estate investing. Now, she helps busy professionals create passive income streams through real estate. Vessi controls a portfolio of 319 doors, worth $36MM, in Florida, Tennessee, and Georgia.

00:00:00 - 00:02:00 - Discovering a Life-Changing Book

- Vessi shares how a fellow real estate investor recommended "Think and Grow Rich" to her

- The book's title intrigued her, and she decided to dive into its content

- Reading the book became a turning point in Vessi's life, as she was going through career changes and seeking a better way forward

00:02:00 - 00:04:00 - Unveiling the True Riches Within

- "Think and Grow Rich" goes beyond just physical and economic wealth, focusing on spiritual and mental riches

- The book emphasizes the power of mindset, cultivating a burning desire, and taking action towards one's goals

- Vessi found the book to be motivational and inspirational, prompting her to reflect on her own aspirations and take the next step in her real estate journey

00:04:00 - 00:06:00 - The Importance of Burning Desire and Persistence

- Vessi highlights the significance of having a burning desire and clearly defining one's goals and reasons for pursuing them

- The book teaches the value of persistence, using the example of a miner who gave up just three feet from gold

- Vessi emphasizes the importance of focusing on the process and taking consistent, small steps towards long-term success

00:06:00 - 00:08:00 - Surrounding Yourself with Positivity

- "Think and Grow Rich" stresses the importance of surrounding oneself with positive, like-minded individuals

- Vessi recognized the need to find new friends who were motivated and interested in real estate to support her growth

- The book's insights were derived from interviews with numerous successful people, reinforcing the power of environment in achieving success

00:08:00 - 00:10:00 - Cultivating Daily Routines for Success

- Vessi shares her morning routine, which includes physical activity, quiet time, and setting intentions for the day

- She emphasizes the importance of focusing on three key tasks each day, with one being a "needle mover" and two being important actions

- Gratitude plays a significant role in Vessi's daily practice, reminding her to appreciate the blessings in her life

Quotes:

"It's not short term results or short term thinking that one is to focus on, but what is the outcome and then focus on the process to get there." - Vessi Kapoulian

"As long as you keep that long term outlook in mind and are staying with the process and being consistent, that success is inevitable." - Vessi Kapoulian

Connect with Vessi:

Website: https://dbacapitalgroup.com/

Digital Book : 21042267.hs-sites.com/multifamily-digital-book

LinkedIn: https://www.linkedin.com/in/vessi-kapoulian/

You Tube: https://www.youtube.com/channel/UC7Gvm6hGGKGHSerXCTj8H4w

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

How can couples with significant age differences navigate the complex financial planning conversations to ensure a secure future together?

In this insightful episode, Suja welcomes back Jay Zygmunt, PhD, CFP, and CEO of Child Free Wealth, to discuss the unique financial planning challenges faced by couples with significant age differences. As a certified financial planner specializing in helping child-free individuals, Jay shares his expertise on the essential conversations these couples need to have, from long-term care planning to estate management. He emphasizes the importance of seeking professional guidance to facilitate these sensitive discussions and offers practical advice on how to approach the topic of mortality and its impact on financial decision-making.

Jay Zigmont, PhD, MBA, CFP® is the Founder and CEO of Childfree Wealth®, a life and financial planning firm dedicated to helping Childfree and Permanently Childless people. Childfree Wealth is the first life and financial planning firm dedicated to serving Childfree people.

[00:00:00] Introduction: Suja welcomes Jay Zygmunt back to discuss financial planning for couples with significant age differences.

• 25% of adults are child-free, and the financial planning world is primarily built around the idea of having children.

• Couples with age gaps face unique challenges in financial planning conversations.

• Jay specializes in helping child-free individuals with their financial planning needs.

[00:01:00] Starting with the Uncomfortable Conversation

• Discussing mortality and the likelihood of one partner outliving the other is a difficult but necessary conversation.

• The conversation involves long-term care, estate planning, and investment decisions.

• Couples often avoid this conversation due to its uncomfortable nature.

[00:03:00] The Importance of Long-Term Care Planning

• Women spend an average of 3.7 years in care, while men spend 2.2 years, costing around $115,000 per year.

• Couples with age differences need to plan for long-term care to protect the surviving partner.

• Estate planning is crucial, especially for child-free couples, to ensure assets are distributed according to their wishes.

[00:05:00] Seeking Professional Guidance

• Involving a third party, such as a financial planner, can help facilitate sensitive conversations about mortality and financial planning.

• Professionals can guide couples in discussing priorities, such as caring for aging parents, inheritance, and power of attorney.

• Lack of proper planning can lead to severe consequences, such as being kicked out of one's own house due to joint ownership with in-laws.

[00:07:00] Self-Insuring for Long-Term Care and Conclusion

• Self-insuring for long-term care requires setting aside approximately $500,000 and ensuring a 5% annual growth rate to keep up with rising costs.

• Purchasing long-term care insurance in mid-40s can be more cost-effective.

• These conversations are essential for all couples, regardless of whether they have children, to ensure they make the most of their lives and pass on their desired legacy.

Quote:

"When it comes to couples with significant age differences, having a plan for the inevitable is crucial. It's not just about the numbers; it's about facing mortality head-on and ensuring that both partners are protected and secure in their future together." - Jay Zygmunt, PhD, CFP

"Couples often avoid discussing the uncomfortable reality of one partner outliving the other, but it's a conversation that must be had. Bringing in a third party, like a financial planner, can help facilitate these sensitive discussions." - Jay Zygmunt, PhD, CFP

Connect with Jay:

Website: https://childfreewealth.com

Free copy of the book "Portraits of Childfree Wealth": https://childfreewealth.com/book

Podcast: https://childfreewealth.buzzsprout.com

WANT TO LEARN MORE?

Connect with me through LinkedIn.

Or send me an email at [email protected]

Visit my website, www.luxe-cap.com, or my YouTube channel.

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In this captivating episode, Suja interviews Engelo Rumora, a former professional soccer player turned real estate investor who has built a successful business in Toledo, Ohio. Despite quitting school at the age of 14, Engelo's passion, hard work, and determination have led him to flip over a thousand properties and establish a thriving property management company. He shares his journey, the challenges he faced, and the lessons he learned along the way. Engelo also discusses his investment philosophy, the importance of sticking to what you know, and the value of creating a business that serves a greater purpose than just personal gain.

Engelo Rumora is a prominent real estate executive, investor, and CEO, known for his remarkable achievements in real estate investments, as well as his diverse entrepreneurial ventures spanning various industries. With a global portfolio encompassing countries such as the Bahamas, Croatia, Japan, Australia, and the USA, he has demonstrated a comprehensive understanding of investment strategies. Engelo's expertise extends beyond real estate to include tech, crypto, stocks, and oil funds. He is the driving force behind several successful companies, primarily in the real estate sector, having experienced both setbacks and triumphs. Engelo's enduring commitments are Ohio Cashflow, a leading turnkey property provider, and Oz Realty, a renowned property management firm. His career has seen involvement in over 1,000 real estate transactions, including flips and buy-and-holds.

[00:00:00] - [00:04:00] From Soccer Pitch to Real Estate Riches

- Engelo's journey from quitting school at 14 to become a professional soccer player

- The decision to leave soccer and start a new career in real estate

- Building a portfolio in Australia and the challenges faced

[00:04:00] - [00:09:00] Discovering the Toledo, Ohio Market

- Why Engelo chose to invest in Toledo, Ohio

- The benefits of investing in a tertiary, niche market

- Explaining the business model of flipping and property management

[00:09:00] - [00:14:00] Mastering the Art of Property Management

- The initial struggles and mistakes made in property management

- Streamlining processes and incorporating technology to improve efficiency

- The importance of having in-house property management for a successful turnkey business

[00:14:00] - [00:19:00] Investing Beyond Real Estate

- Engelo's experiences investing in various markets worldwide

- The advantages of investing in the U.S. compared to other countries

- Diversifying investments while maintaining a focus on core competencies

[00:19:00] - [00:25:00] The Purpose Behind the Grind

- Engelo's semi-retirement at 28 and the realization that material possessions don't bring happiness

- Doing business for the benefit of family and loved ones

- The importance of having a purpose greater than oneself to stay motivated

Quotes:

"Food and shelter are the two most important things to humanity. So for as long as Elon Musk doesn't send us to Mars, people are always going to need a roof over their head." - Engelo Rumora

"If you do things for you, you will eventually let yourself down because you aren't enough to continue the grind. But if you do things for someone else that's blood related or a bigger purpose than yourself, you won't give up." - Engelo Rumora

Connect with Engelo:

Website: https://ohiocashflow.com/

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Thanks for tuning in!

If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!