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 Schedule a Call with Tom

How to Listen: Subscribe on Youtube Listen on Spotify

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

How to Listen: Subscribe on Youtube Listen on Spotify

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 Schedule a Call with Tom

How to Listen: Subscribe on Youtube Listen on Spotify

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 Schedule a Call with Tom

How to Listen: Subscribe on Youtube Listen on Spotify

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: Subscribe on Youtube Listen on Spotify

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
• [email protected]

Call to Action Schedule a Call with Tom

How to Listen: Subscribe on Youtube Listen on Spotify

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

How to Listen: Subscribe on Youtube Listen on Spotify

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