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

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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:

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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:

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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

Call to Action

Schedule a Call with Tom

How to Listen:

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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

Call to Action

Schedule a Call with Tom

How to Listen:

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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

Call to Action

Schedule a Call with Tom

How to Listen:

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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

Call to Action

Schedule a Call with Tom

How to Listen:

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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

Call to Action

Schedule a Call with Tom

How to Listen:

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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

Schedule a Call with Tom

How to Listen:

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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

Schedule a Call with Tom

How to Listen:

Subscribe on Youtube

Listen on Spotify