Perennial Pride

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

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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

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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