Perennial Pride

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

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
• [email protected]
• 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