TK Dale Wealth Podcast

Trevor Dale, founder of TK Dale Wealth Management, talks about how the blood taking, urine samples, in depth medical questionnaire and hassle of coordinating a rep to visit the home is more than they're willing to go through.

Telling someone how much they weigh, their height and medical history can be overwhelming. Perhaps it's a pre-existing medical condition.

This causes people to avoid putting in coverage to protect their family which leaves them exposed. 

For example if two people are on a mortgage then when a borrower dies, the lender will say I'm sorry for your loss, we need to do a credit application. 

You now need to qualify to get the mortgage on your own and in most cases it requires two incomes to service the mortgage. If you can't requalify for the mortgage then you will be forced to find another lender or sell.

Selling at a time when the family is already grieving is not something that I would wish for a family, particularly with kids.

Not putting risk mitigation in place causes this slow nagging feeling and will linger with you. Further your spouse will know that they are exposed and wonder why you haven't done anything about it yet, even if they haven't said anything out loud.

This will compound the stress and ultimately causes people to revert to eating potato chips while watching Netflix every night.

One great solution is a no medical insurance policy.

Imagine having the peace of mind knowing that your spouse is covered off on any financial risks and your family is provided for in a time of need. You've made sure that they are good and that feels good in itself.

Further you can share this with your spouse and they can sleep easier. They respect you and appreciate you for having put such an essential part of estate planning into place, even though you resisted it for years.

As a result you communicate better and go out for walks or take a fitness class together rather than watching Netflix and eating potato chips like you did when you didn't deal with your insurance.

A no medical insurance policy is a perfect if someone has a pre-existing condition or doesn't want to go through the process of a full underwriting for an insurance policy.

You go through a short online questionnaire to see if you qualify, what coverage you qualify for and how much coverage.

It's simple, easy and confidential. It only takes a few minutes and coverage can be in place within a few days. 

No medical exam necessary.

Contact us to find out how to get this done.

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This podcast can be found at tkdale.com/podcast, iTunes, Spotify, Google Play and Stitcher.

Trevor Dale, founder of TK Dale Wealth Management, discusses how there is no one single magic bullet that will solve all of your problems.

Inside of TK Dale Wealth we have marketing, sales and client satisfaction. Without people don't know who we are. Without sales, people don't know what we do. Without client satisfaction, people won't refer us or stay our clients for very long.

Most business owners hope that there is something magical that they can get that will drive in new customers and this is a recipe for disaster and failure. It takes hard work and dedication to operating at an elite level consistently in all three ares.

Just like your finances, you need to constantly be looking for ways to make more money, reduce the amount you spend so you can save more and look for optimal ways for that money to make more money.

There is no silver bullet to becoming wealthy and staying wealthy. Not even a winning lottery ticket will save you unless you instill the right habits. No, I don't care if you are a CEO or a minimum wage employee. These principles are the same for everyone including myself.

Tactically, always have an up to date LinkedIn profile and be networking even if you are intending on staying with your current company for life.

Review your bank and credit card statements at least monthly to find inefficiencies and cut spending on things that don't bring value into your lives.

Lastly, have conversations that reduce fees and increase returns while giving you the planning and advice that you need.

This podcast can be found at tkdale.com, iTunes, Spotify, Google Play and Stitcher.

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Trevor Dale, founder of TK Dale Wealth Management, talks about how people are constantly looking for a newer, better, alternate future.

In doing so they give up what they worked so hard for and lack the commitment to make things happen that are truly on the verge of success. Yet the same relationship that they are going through divorce, the weight loss program that they say doesn't work and the financial plan that they are giving up on is the same characteristic. In essence they are giving up on themselves.

It is said that how we do one thing is how we do everything.

For years, my neighbors' lawns have looked better than mine. Why? Because I didn't care. I don't want a lawn and I don't put in the effort. It shows. It is a reflection of my commitment to an amazing lawn and there are other areas of my life that this happens too. My wife says that I have two speeds: idle and 200%. When I move, I move fast.

This weekend I got in 4 yards of soil, seeded the entire lawn in a major way and pulled out EVERY-LAST-WEED in that lawn. EVERY-SINGLE-WEED. For hours I declared war on my lawn and it hurts. I have the sore muscles and sunburn as evidence. War scars.

Very soon, I will have the best and greenest lawn on the street. No longer will I look on the other side to see a greener lawn. I put in the work to my own lawn and I will have the greenest.

The grass is greener where you put in the work.

The difference is that when it comes to money so many people treat their bank accounts the way I treat my lawn.

I did too. I didn't worry about how much I was saving and went on the defense thinking that my savings levels were adequate but not knowing what they meant in the grand scheme of things.

I didn't coordinate with my wife on our financial plan... or lack thereof. I was uncertain and insecure of what retirement would look like.

The grass was greener on the side.

Then I got serious about things. I started to build a future plan. I got a better understanding of what things meant. I consulted professionals. I watched my spending. I reduced my expenses by $1,000 per month. That's right, $1,000 per month. That's almost $20,000 of pre-tax earnings per year.

It allowed me to save enough to start this company, it reduced my cash burn so that I had a long runway and it gave me clarity on where my money was going.

I felt good about my finances as I put myself in the position to live my dreams by running my own wealth management company.

My wife and I were coordinated and on the same page. We were unified because I had clarity and understanding. This new found control brought benefits all over my life.

It was because I had put in the work. I put in the and no longer was the grass greener on the other side. It was greener where I put in the work.

Trevor Dale discusses how his 4am runs are solo but there is team collaboration and competition is a team environment. Similar to your finances that 90% of the work is solo but that crucial 10% is a team effort.

Just like the training runs, watching your spending, bringing your lunch (I don't care if you're a CEO) and reviewing expenses are something all companies do and so should you! These are the solo activities that need to be done.

Further you should take at least one industry course every single year to improve your marketability. AGAIN, I don't care if you're a CEO. You better have an updated LinkedIn page and you should always be connecting with people who will help you in one of two ways:

1. Help you if you are ever fired/downsized/whatever you call it, you're out of a job which wasn't planned. This is defense, playing it as it comes to you.
2. You look for a higher paying job that allows you to grow and develop your skills. This is offense, actively seeking to increase the income that you make.

So much of this work is done solo but having a solid team under you can help you to brain storm ideas and stay focused. It helps to have someone to call in for advice in the event of something unexpected.

The team also acts as your specialists that you can deploy when these aren't your core strengths.

Do you have an in depth and high level of expertise inside the markets? Do you have an expertise at helping people develop their financial goals and then executing on a plan to get them there?

We do, that's why we're your team and act as the CFO to your family with you and your spouse acting as co-CEO's.

Remember our principles:

1. Clarity is key
2. Specificity over generality
3. Fact based decisions
4. Offense vs defense

Call us to get clear and on the offense with your future.

This podcast can be listed to at tkdale.com, iTunes, Spotify, Google Play and Stitcher.

Thank you for listening and please subscribe and share this with one person.

Trevor Dale talks about a better way to set financial targets and some of the areas that are being missed when creating a financial plan.

The Financial Plan is useless without having a goal and that goal is useless without a strong reason to have that goal that is in line with who you truly are.

This gets complicated when you are married and want to live a life that is full of passion with who you are as an individual but now you also have to create a future that does the same thing for your spouse.

Once you and your spouse are clear on what you would like as individuals, then comes the task of creating a future that gives you what you both want as individuals while also having goals that that are harmonious with each other.

You need to learn to communicate to be true to who you are and also encourage your spouse to be true to who they are and then build together.

Finding yourself can be assisted with taking the Color Code Test (colorcode.com) and then reflecting on who you are as an individual.

Next step is to share this with your spouse. This may open an area that may have conflict however we need to learn and create a safe place to communicate for each other.

To do this I recommend the book "Crucial Conversations" by Patterson, Grenny, McMillan and Switzler.

This helps aid the conversation for each other and creates the AND future.

The AND future is a future where you get what you want out of life AND your spouse ALSO gets what they want.

My wife desires stability, security and predictability while I prefer variability, growth and spontaneity. 

While creating my own company I had to go through the process of giving her stability and predictability by setting fixed client hours in the evenings and weekends and giving notice for changes. I was also clear about our financial situation and provided as much security and contingency planning as possible.

This allowed me to create a reality where I got to start my own company while providing the consistency that my wife desired.

There is no right or wrong way to live life as we are all different people with natural tendencies. The beautiful part of life is when we all live together with love and respect for each other.

This starts with the individual doing the hard work on themselves first and then learning to communicate and work with others at a level that you never saw possible before.

This podcast is available at tkdale.com iTunes, Spotify, Google Play and Stitcher. 

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Trevor Dale talks about the real reason behind money being a major reason that couples get divorced. It isn't because of money itself. 

It is from a lack of understanding of yourself first. Then once you are absolutely clear about what you want beyond a level that you currently see capable, then you can communicate this with your spouse.

The fundamental problem of not communicating properly but not communicating properly with yourself first... and then with your spouse second.

People argue for a number of reasons and I suggest that you start to get better at arguing. Get better at communicating. Get better at listening. Get better and understanding.

A great book that helps is "Crucial Conversations" by Patterson, Grenny, McMillan and Switzler.

It's absolutely fantastic and has helped me at home, work, with friends and even organizing my own thoughts.

Money doesn't have to be complicated, it just needs to be clear.

You see, without a clear goal, then a financial plan is useless. Without a financial plan, an investment strategy is useless. Without an investment strategy, it doesn't matter how much money you have.

Your current situation is a reflection of your clarity and the life you live is the product of this. The more clear you can get, the more specific the decisions you make, the greater the impact those decisions will have.

Know yourself first, communicate effectively with your spouse to get what you BOTH want out of life and design the future of what you were destined to do.

It doesn't matter what stage of life you're in. These principles must guide your life design:

1. Clarity is Key
2. Specificity Over Generality
3. Fact Based Decisions
4. Offence vs Defence

This podcast can be found on tkdale.com, iTunes, Spotify, Google Play and Stitcher.

Please subscribe and share.

Trevor Dale talks about some of the things that we wish our parents would have planned for and how you can avoid leaving your family with the same stress.

He talks about how to make care while you are still alive easier, how to have your wishes executed when you do pass away and something not everyone knows about... prepaid funeral expenses.

Trevor Dale discusses segregated funds... which he almost never recommends with the exception of two situations. There are a number of drawbacks such as fees, lack of selection and you have to go through an insurance advisor to get them, such as ourselves.

Having said that there are some benefits such as having a beneficiary on an investment regardless of whether the funds are inside a registered account or not, a medical exam is not required and they can flow funds from an estate or corporation upon death should the situation arise.

There are some things to consider in this podcast and we hope that it helps to better understand when these could be used.

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https://tkdale.com

Trevor Dale talks about the advantages of various types of mortgages as they relate to a medium size business owner.

Should she go with a home equity line of credit, an interest only mortgage or a regular principle and interest payment mortgage?

Listen for details and subscribe!

In this episode host Trevor Dale and lawyer Mark Epstein discuss the many facets of real estate law as it pertains to buying both new construction and pre-existing homes. The real gem from this conversation is how it spans the different areas from real estate law to family law to wills and estates, to inheritance and so much more.

This was one of the most fascinating conversations that I've had on the topic and I'm glad that I was able to capture it for you.