The Long Game podcast is a podcast designed to help educate our generation (people in their 20's and 30's) about money. In each episode you will hear us break down complex financial topics that are relevant to you and your life.
In this episode, I'm joined by Nate Sosa, CPA, MST from Hall CPA, and we dive deep into:- The status of the new tax bill and what it means for you- Key changes, including bonus depreciation and Qualified Business Income (QBI) deductions- The implications of the SALT cap increase and how it affects high-income earners- Insights on Qualified Opportunity Zones and their effectiveness- And much more---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down the benefits and drawbacks of S-Corps, including self-employment tax savings, the impact on retirement contributions, and the qualified business income deduction.Learn how your profit level can influence whether an S-Corp is the right choice for you, and discover the importance of calculating a reasonable salary.---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down the ins and outs of Restricted Stock Units (RSUs), Non-Qualified Stock Options (NSOs), Incentive Stock Options (ISOs), or Employee Stock Purchase Plans (ESPPs).---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this week's episode, I dive deep into investment taxation and how it impacts your overall returns. Understanding how different investments are taxed is crucial if you're trying to maximize your portfolio's performance.Stocks: Learn about capital gains taxes, dividends, and the importance of holding periodsBonds: Discover the tax implications of corporate, treasury, and municipal bondsETFs and Mutual Funds: Understand the differences in tax treatment and why ETFs may be more favorableCryptocurrency: Get insights on capital gains, staking, and the unique aspects of crypto taxationREITs: Explore the tax inefficiencies of real estate investment trustsReal Estate: Learn about income tax, depreciation, and capital gains exclusions for primary residences---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I discuss how underpayment penalties can sneak up on you. Many of our clients come to us unaware of these penalties, thinking that their W-2 withholdings or year-end tax payments are enough. But there's much more to it...---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Many people don't realize that HSAs can be invested, similar to a 401(k). This is especially beneficial for high-income earners who may have maxed out other tax-advantaged accounts.If you can avoid using the funds for medical expenses, the goal is to let your HSA grow as long as possible to take full advantage of its benefits.✅ Financial planning for 30-50 year old high-earners & entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I discuss the strategic timing for Roth conversions and how to maximize your contributions through the Mega Backdoor Roth 401(k).✅ Financial planning for 30-50 year old high-earners & entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
While many investors focus on asset allocation, understanding WHERE to place your investments can significantly impact your after-tax returns. This episode explains:The differences between tax-deferred, tax-free, and taxable accountsHow to minimize taxes and maximize your after-tax yieldThe best types of investments to hold in each account type, including bonds, REITs, and high-growth assets---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down a few of the essentials to becoming a better investor. If you've ever felt overwhelmed by the market or unsure about your investment strategy, this episode is for you. We discuss:The importance of behavior management and how your mindset can significantly impact your investment successSystematic approaches to investing and why having a structured investment strategy is crucial. I break down the importance of asset allocation and how to control what you can control.Understanding asset allocation, including the different types of asset classes and how to balance your portfolio based on your risk tolerance and investment goals.Find out why maintaining your desired asset allocation is essential for long-term success and how to effectively rebalance your portfolio---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I dive deep into the age-old debate: Roth vs. Traditional accounts. Many people assume that Roth is the way to go because they believe taxes will rise in the future. However, this episode aims to clear up common misconceptions and help you understand the nuances of effective tax planning for retirement:How tax deferral works with Traditional 401(k) contributionsThe benefits of Roth accounts, including tax-free growth and no RMDsThe impact of Required Minimum Distributions (RMDs) on your retirement planningStrategies for Roth conversions and timing your tax paymentsThe importance of tax diversification and effective tax rate management over your lifetime---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down the two main types of IRAs—the traditional (pre-tax) IRA and the Roth IRA (post-tax). Some highlights:Contribution Limits: Learn about the annual contribution limits and how they change based on your age and incomeTax Benefits: The advantages of tax-deferred growth with traditional IRAs versus tax-free growth with Roth IRAsWithdrawal Rules: Understand the implications of Required Minimum Distributions (RMDs) and how they can affect your tax situation in retirementBackdoor Roth IRAs: How high-income earners can still take advantage of Roth IRAs through the backdoor methodSpousal Contributions: Find out how you can contribute to your spouse's IRA, even if they don't have earned income529 Plans: Learn about the new rules that allow you to convert 529 accounts into Roth IRAs for your children.---------Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.comMy personal blog & newsletter: thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down employer-sponsored retirement plans and the different options available. From 401(k)s and Roth accounts to SEP IRAs and the mega backdoor Roth strategy, learn how to maximize your retirement savings. - Overview of retirement account options (401(k), Roth, SEP IRA, etc.)- The significance of employer matches- Catch-up contributions for those aged 50 and above- Investment strategies for long-term growth- Understanding fees and choosing the right funds---------✅ Financial planning for 30-50 year old entrepreneurs: allstreetwealth.com✅ My personal blog & newsletter: thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down a few reasons why people love owning real estate and the benefits it offers compared to other investments like stocks or crypto.The tangible nature of real estate vs. stocksUnderstanding cash flow and its importance in wealth buildingThe benefits of having someone else pay down your mortgageHow depreciation can minimize taxes on real estate investmentsThe significance of equity in rental properties and how it affects returns---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down mortgages, how they work, and the importance of down payments and loan types:The differences between 30-year and 15-year fixed mortgages, interest-only loans, and adjustable-rate mortgages (ARMs)When does refinancing make sense? How HELOCs can serve as a financial safety net and when it might be beneficial to tap into your home equity.---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I break down the difference between good debt and bad debt—such as what types of debt can actually work in your favor (like business loans and student loans for lucrative careers), versus credit card debt and loans for things you can't afford. Some highlights:Credit Cards: My personal approach to using credit cards responsibly, including how I leverage rewards while avoiding high-interest debtDebt Repayment Strategies: Exploring effective methods for paying off debt, including the Snowball and Avalanche methods, and how to choose the right one for your situationEmergency Funds: Discover why having a small emergency fund can be a game-changer in your journey to becoming debt-free0% Financing: The pros and cons of 0% interest loans and how they can either be a helpful tool or a slippery slope, depending on your financial habits---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I walk through how to effectively manage your monthly income & expenses when you're paid in equity (or receive bonus income). Some highlights:Understanding RSUs: How they work, including vesting schedules and tax implicationsThe Full Picture: Understanding your total income, expenses, and tax liabilities, so you can make smart decisions about your investments and savingsGet actionable steps to manage your tax liabilities and ensure you're not over-concentrated in company stock. Learn how to balance your cash flow and maximize your savings through 401(k)s, ESPPs, and HSAs.---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Whether you're newlyweds or have been together for years, navigating money matters can be challenging, especially when you start blending incomes, expenses, and financial goals.In this episode, I discuss three effective systems for managing finances in a marriage: Entirely Combined: The traditional approach where both partners share everything—income, expenses, savings, and investments. I share why this method often leads to stronger partnerships and better financial outcomes. Half and Half: A balanced approach where couples maintain a shared account for bills while also having individual accounts for personal spending. This method allows for autonomy while still working towards common financial goals. All Separate: While I don't recommend this for everyone, I explore how some couples, especially those who marry later in life, find success in managing their finances separately.Throughout the episode, I emphasize the importance of communication and teamwork in achieving financial goals together. It's not just about the numbers; it's about building a strong partnership.Whether you're newlyweds or have been together for years, navigating money matters can be challenging, especially when you start blending incomes, expenses, and financial goals.In this episode, I discuss three effective systems for managing finances in a marriage:- Entirely Combined: The traditional approach where both partners share everything—income, expenses, savings, and investments. I share why this method often leads to stronger partnerships and better financial outcomes.- Half and Half: A balanced approach where couples maintain a shared account for bills while also having individual accounts for personal spending. This method allows for autonomy while still working towards common financial goals.- All Separate: While I don't recommend this for everyone, I explore how some couples, especially those who marry later in life, find success in managing their finances separately.Throughout the episode, I emphasize the importance of communication and teamwork in achieving financial goals together. It's not just about the numbers; it's about building a strong partnership.---------✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com✅ My personal blog & newsletter: https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, I discuss why having cash on the sidelines is your best friend, especially in uncertain times. I also share a powerful quote from Morgan Housel that resonates with me: "More than I want big returns, I want to be financially unbreakable." This mindset is key to understanding the true value of an emergency fund. Some highlights from the episode:The importance of having an emergency fund to avoid selling investments at a loss during market downturnsHow much you should keep in your emergency fund based on your personal risk tolerance and life circumstancesPractical steps to determine the right amount for you, whether it's three months, six months, or even up to twelve months of expensesWhere to hold your emergency fund to maximize your returns without sacrificing liquidity---------✅ Financial planning for 30-50 year old entrepreneurs:https://www.allstreetwealth.com✅ My personal blog & newsletter:https://www.thomaskopelman.comDisclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, we talk about some of the complexities of preparing for retirement (or a work optional life), including: • The 4% rule and how it can guide your retirement spending • The importance of social security and what it might look like when you retire • Why relying solely on software for financial planning may not be the best approach • The significance of investing a percentage of your income and how it can set you up for success ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Many people struggle with their finances simply because they lack direction. I encourage you to sit down and think about your short-term, mid-term, and long-term goals. Trust me, once you clarify your objectives, managing your finances will become a lot easier. We also explore the four key metrics you need to understand to manage your cash flow effectively: Income: What you take home each month. Expenses: Most people underestimate their spending—are you one of them? Taxes: Understanding your tax liability is crucial, especially if you have complex income sources. Surplus: The amount left after accounting for income, expenses, and taxes. I break down how to nail down these numbers and why they are essential for creating a solid financial plan. Plus, I share my recommendations for budgeting strategies tailored to your income level, whether you're a high-income earner or just starting out. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Too often, business owners reinvest every dollar back into their business. To help you understand the importance of retirement and the options available to you, this episode breaks down various retirement accounts, including: Solo 401k: My personal favorite! Learn how this account can maximize your contributions and provide incredible tax advantages. SEP IRA: Understand when this option might make sense and the limitations that come with it. Regular 401k: Discover how to set up a plan that benefits both you and your employees while avoiding compliance issues. Simple IRA: Is it really a good choice? I share my thoughts on why it may not be the best option for most business owners. Additionally, I touch on the differences between Roth and traditional IRAs, helping you make informed decisions about your tax strategy. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Breaking down the differences between tax planning for W-2 employees and business owners while highlighting the complexities that come with owning a business. Some of the topics covered: - Understanding the difference between withholding and actual tax liability - The concept of safe harbor and how to avoid penalties - Strategies for planning your taxes effectively, whether you're a sole proprietor or in a partnership - The importance of projecting your business's financials throughout the year to avoid cash flow issues ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
Many entrepreneurs start off by simply transferring money from their business to their personal accounts without a solid plan, leading to financial stress when income becomes irregular. In this episode you'll learn: - The importance of creating a "pay account" to manage your personal and business finances effectively. - Strategies for planning your living expenses and saving for lean months. - Key differences between operating as a sole proprietor versus an S-Corp, especially regarding tax planning and payroll. - How to avoid common pitfalls like underestimating your tax liabilities and incurring penalties. - The significance of building an emergency fund tailored to your business needs. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
As we approach the end of the year, I want to express my gratitude to all of you who have been listening and supporting the podcast. With just under 200 episodes and over 75,000 downloads, it's incredible to see how far we've come together. After a year of co-hosting with Jacob Turner, we've decided it's best for him to pursue his own podcast. While I will continue to host the Long Game Podcast solo, I'm excited about the new direction it will take. Starting in January, I will focus on a structured approach to financial planning, diving into specific topics that I cover with my clients. The upcoming episodes will include discussions on business planning, hiring strategies, managing finances, and setting up retirement accounts. I'll also explore essential components of a financial plan, such as cash management, debt, investing, and estate planning. Each episode will be concise, lasting between 10 to 20 minutes, making it easy for listeners to digest the information. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.
In this episode, we dive deep into the lessons learned from working with business owners and the unique financial perspectives that come from their experiences. The Unique Perspectives on Money: We talk about how different business owners view money and success, and why there's no one-size-fits-all approach to personal finance. The Value of Service Businesses: Why running a service-based business can be a fantastic choice for aspiring entrepreneurs, highlighting the benefits of cash flow and scalability. The Importance of Liquidity: The significance of maintaining liquidity in your financial portfolio and how it can reduce stress during unexpected situations. Planning for the Unexpected: The necessity of preparing for negative scenarios & how proactive planning can protect your financial future. The Power of Education: The importance of understanding your financial decisions and the value of having an accountability partner to keep you on track.
Building on our previous discussions about estate tax planning and donor advised funds, we explore a variety of charitable giving tools, their benefits, and when they make sense for you. Episode Highlights: The impact of recent tax law changes on charitable giving Understanding donor advised funds and their advantages The differences between donor advised funds and private foundations How to effectively bunch charitable gifts for maximum tax benefits The role of charitable remainder trusts and charitable lead trusts Strategies for business owners to leverage charitable giving Join us as we unpack these important topics and provide insights on how to make the most of your charitable contributions while ensuring your values are honored.
Blake shares his insights on why SLATs are often viewed as the go-to tool for estate tax planning, but also highlights the important considerations and potential downsides that many overlook. From the irrevocable nature of these trusts to the implications of divorce and early death, this episode dives deep into the complexities of estate planning for high net worth individuals. Key topics include: What a SLAT is and how it works The benefits and risks associated with SLATs The importance of financial flexibility and growth When it makes sense to consider a SLAT based on age and asset value The significance of understanding your personal goals in estate planning
In this episode, we dive deep with Daniel Crosby (author of The Soul of Wealth) into the multifaceted relationship between wealth, happiness, and fulfillment. Here are three key takeaways that I believe will resonate with many of you: Wealth is Not Just a Number
As the year comes to a close, it's crucial to take proactive steps to optimize your tax situation. Join us as we discuss: The importance of knowing your numbers and understanding your financial situation Maximizing the Qualified Business Income (QBI) deduction Utilizing retirement accounts effectively, including 401(k)s and Roth options The benefits of donor-advised funds for charitable giving Strategies for tax loss harvesting and investment portfolio reviews The significance of Health Savings Accounts (HSAs) and 529 plans Exploring potential tax-saving opportunities through entity structure evaluations Don't wait until the last minute—start thinking about your tax strategy now!
After wrapping up a comprehensive insurance series, Thomas and Jacob shift gears to discuss the often-overlooked aspects of tax planning. They explain what QBI is, who it applies to, and why it's crucial for business owners to understand and plan around it. Key topics: What is the Qualified Business Income Deduction? Who qualifies for QBID and how it can impact your taxes The importance of proactive tax planning and communication with your financial team Strategies for maximizing your QBID, including salary considerations and year-end payroll planning Real-life examples of how effective planning can lead to significant tax savings Whether you're a seasoned business owner or just starting out, this episode is packed with valuable insights to help you navigate the complexities of tax planning. Don't miss out on the opportunity to save on your taxes!
In this episode, we're joined by Broc Buckles as we break down the essentials of disability insurance, discussing its importance, the different types available, and how it can serve as a crucial safety net for your income. We explore group vs. individual policies, the significance of definitions like "own occupation," and the various riders that can enhance your coverage. Whether you're a financial advisor looking to expand your knowledge or someone seeking to understand how disability insurance fits into your financial plan, this episode is packed with valuable insights. Key Topics Covered: What is disability insurance? Group vs. individual disability policies Understanding elimination and benefit periods The importance of riders like cost of living adjustments and guaranteed purchase options Real-life scenarios and considerations for different professions
In this episode, hosts Thomas Kopelman and Jacob Turner are joined by returning guest Broc Buckles, an expert in the insurance space. Together, they dive deep into the world of life insurance, breaking down the different types, including term and permanent insurance, and discussing when and why you might need them. Key Topics Covered: Overview of life insurance: term vs. permanent How to determine how much life insurance you need The importance of reevaluating your life insurance needs during major life changes Common misconceptions about whole life and indexed universal life insurance Use cases for term and permanent life insurance, including family protection, business agreements, and estate planning Whether you're new to the world of insurance or looking to refine your understanding, this episode is packed with valuable insights and practical advice. Timestamps:00:00 - Introduction00:18 - Disclaimer00:33 - Guest Introduction: Broc Buckles02:03 - Overview of Life Insurance Types02:22 - How Much Life Insurance Do You Need?04:25 - Reevaluating Your Life Insurance Needs11:07 - Common Misconceptions in the Insurance Industry15:10 - Use Cases for Term Life Insurance20:26 - Use Cases for Permanent Life Insurance29:40 - Conclusion
In this episode of the Long Game podcast, Thomas Kopelman and Jacob Turner dive into the often-overlooked topic of umbrella insurance coverage. Aimed primarily at high net worth individuals and those on their way, the discussion highlights the critical importance of understanding this type of insurance and how it can serve as a safety net in the face of unforeseen circumstances. Here are three key takeaways from this episode that you won't want to miss: What is Umbrella Insurance and Why You Need It: Umbrella insurance acts as an additional layer of protection on top of your existing auto and homeowners insurance. It's designed to cover you in the event of a major liability claim, which can be financially devastating. We discuss a real-life scenario where a car accident could lead to a $3 million payout, and how umbrella insurance can help mitigate that risk. If you have assets to protect, this coverage is essential! Affordability vs. Value: Many people assume that comprehensive insurance coverage comes with a hefty price tag. However, we break down the costs and reveal that umbrella insurance can be surprisingly affordable—often ranging from $150 to $500 a year per million in coverage. When you consider the potential financial ruin from a single lawsuit, this investment is a no-brainer! Understanding Exclusions and Risks: Not all umbrella policies are created equal. It's vital to understand the nuances of your policy, including any exclusions that may apply. We share a cautionary tale about a client whose umbrella policy didn't cover a dog bite incident because the breed was excluded. Always consult with your insurance professional to clarify what your policy covers and what it doesn't. In this episode, we aim to explain umbrella insurance and empower you with the knowledge to make informed decisions about your financial protection.
In this episode, co-hosts Thomas Kopelman and Jacob Turner dive deep into the world of homeowners insurance, especially for high-income and high-net-worth individuals. With recent events like hurricanes affecting many, understanding the nuances of homeowners insurance has never been more critical. Thomas and Jacob discuss the importance of having the right coverage, what to look for in your policy, and how to avoid common pitfalls that could leave you underinsured. Key topics covered in this episode include: The significance of dwelling coverage and how to determine the right amount. Understanding other structures and personal property coverage. The importance of loss of use coverage and what it entails. Personal liability and medical payments: what you need to know. Tips for optimizing your insurance structure to save money while ensuring adequate protection. Whether you're a homeowner or just starting to think about insurance, this episode is packed with valuable insights to help you protect your most significant assets.
Most high net worth people think insurance is less important for them, but that could not be further from the truth. Insurance is so important for high net worth people but the way you structure policies is very different. This is part 1 of an insurance series where we go over auto, what to look out for, what you want in your policy, etc.
In this episode with Callie Cox, we talk about the recent FED rate cut and what it means for you. We then go into tilts we have in our portfolios, what we think about the markets over the next couple years, and much more as it relates to investing.
This is part 2 of a series of estate planning for business owners. In this episode with Dave Haughton, we use an example and plan for a business owner who will be over the estate tax exmeption. We think about structures like: - family limited partnerships - charitable remainder trusts - SLATs - Dynasty trusts - trusts in various states And talk through what each of these are and the benefit they can have.
Estate planning is important for everyone. But even more important for business owners. If you were no longer able to make decisions for your business, what would happen? If you answered you have a POA or you don't know, then you need to get on this ASAP. In this episode, we have Dave Haughton on to talk about: - Trusts vs wills - Why most business owners need trusts -Why POAs are not enough - Real estate holdings and the need for LLCs And much more!
It's no secret that interest rate changes are coming. With that comes a lot of good like lower mortgages and cheaper borrowing on other loans. But is also means lower rates on cash, bonds, etc. In this episode we go talk about what is happening and what it means for you. We talk about refinancing, recasting, what you should do with your cash, etc.
Real estate is something almost everyone wants to invest in. Why? Because of 'passive income'. But is real estate really that passive? Or is it as easy as people make it out to be? In this episode with Raj Tut, we talk: - his journey with investing in real estate - how you have to view it like a business - mistakes others make (and one's he has made) - what to look for when investing in a fund
For high income earners, deferring taxes to the future can be a great move. But you are oftentimes limited to the $69,000 you can put into a 401(k). This is where cash balance plans come into play. You can potentially defer hundreds of thousands more using this tool. In this episode with Ben Lake, we talk all things cash balance plans, how they work, the good, the bad, etc.
As you get further along in your financial journey, the decisions you make have HUGE impacts. Many turn to friends, family members, peers, etc for advice. The problem... it is not tailored to you. It's what has worked well for them and they are telling you about it. This can be dangerous. And it's a huge reason why having a planner who knows you, your goals, your values, your fears, and your situation is so valuable.
HSA's and FSA's are both great accounts. They allow you to save for health expenses on a pre-tax basis. In this episode we walk through: - what an HSA is - what an FSA is - what health plans allow for each - how most use FSA's incorrectly
This is a question that comes up time and time again. Many believe that the party of the president matters. They assume the markets do better with republicans and worse with democrats. But is this true? We dive into the data to explore this further.
Roth = post tax Traditional = pre-tax Both have their benefits and can be the right account at different times. In this episode Thomas and Jacob breakdown: - how Roth accounts work - how pre-tax accounts work - when it might make sense to use one vs the other - Roth conversions - which we use and prefer
Self employment retirement accounts are one of the best tax planning tools out there. The two main choices to pick from are Solo 401(k)s and SEP IRAs. Both can be good in the right situation. IN this episode, we break down: - what each one is - how it works - contribution limits - which we prefer
Most business owners start out just trying to survive. And then all the sudden, they are successful and they have no clue what is going on with the financials. They have never been taught what to do, what they know to know, what the numbers mean, etc. This is where outsourced CFOs can be so valuable. In this episode with Kurtis Hanni, we talk all things business financials and when and why hiring an outsourced CFO can make sense.
In this episode with Taylor Schulte, CFP we talk: - how to plan for retirement - the big risks you face - how to overcome the mindset shift as you switch from accumulation to decumuluation (the hardest part for everyone)
Asset location is something that is really important for investors to know about. Asset location is all about putting the right assets in the right accounts for tax purposes. We dive more into asset location, what assets make sense in which accounts, and much more!
Most consumers invest without having an intentional asset allocation. This can lead you to a lot of risk when being over exposed. IN this episode, we break down: - what asset allocation - the importance of it - what we believe about international exposure
Most think Jacob and I are not fans of insurance. But this could not be further from the truth. We implement term and permanent insurance for our clients. We just hate how often permanent is sold to the wrong person. In this episode, we have on insurance expert, Colin Webb, to talk through all things life insurance: - what term is and how it works - what permanent is and how it works - which is a fit and when - why working with an expert is so important - insurance terms that are important for you to understand
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