In this podcast episode, Tom and Jeremy explore tax strategies and financial planning for the current year, offering tips to mitigate taxes for various income sources. They discuss retirement planning, Roth IRAs, energy investments, charitable donations, and optimizing business entity structures. Join us to learn about tax-saving strategies that could benefit you this year. Highlights 02:08 Importance of being aware of tax implications in retirement when drawing from 401ks and the benefits of th...
Nov 09, 2023•27 min•Ep. 88
Join Tom for this three part series with tax expert Jeremy Kessler as they dive deep into the world of taxes and financial planning. Taxes can be a complex and daunting topic, but with the right insights and advice, you can save money and reduce stress. In this episode, Tom and Jeremy discuss the importance of tax planning, the benefits of staying organized, and strategies for optimizing your tax situation. Whether you're a business owner or a W-2 earner, there's valuable information here to hel...
Nov 02, 2023•22 min•Ep. 87
In today's episode, Tom talks about the power of collaboration and team-based strategies for achieving financial success. With summer in full swing and memories of childhood sports days, Tom reflects on the significance of teamwork in various aspects of life, from sports to business. Despite the growing trend of individualized financial approaches, Tom stresses the importance of forming a comprehensive advisory team to navigate the complexities of personal finance effectively. Drawing inspiratio...
Oct 26, 2023•16 min•Ep. 86
In today's episode, Tom welcomes client Alex Flecker, a senior leader at a Fortune 500 Company, who has a rich background in the military and corporate America. Tom and Alex delve into a variety of topics, including leadership, financial planning, and the importance of continuous learning. Alex's journey, from military service to corporate success, provides valuable lessons that listeners can apply to their own lives. Tune in to hear, from a client perspective, how he thinks about life and finan...
Oct 19, 2023•35 min•Ep. 85
Welcome to the latest episode of the Perennial Pride podcast. As the summer of 2023 closes, Tom reflects on the fleeting nature of time, especially as his children grow and face new life choices. Drawing parallels to the power of teamwork in childhood sports, Tom dives into the prevalent yet misguided notion of individualism that often overshadows the importance of collaboration and diverse perspectives in education and life. This philosophy extends seamlessly into the realm of personal finance,...
Oct 12, 2023•16 min•Ep. 84
In the final episode of this series, Tom and Chris talk about how to use your IBC policy. One of the ways to use your policy is access to loans where you get to determine the terms, repayment schedule, and interest rate. Another opportunity is tax-free income and accrued interest. These are just a couple of the ways to use your policy. Tune in to hear more about these benefits and other opportunities to use your policy! Highlights 02:33 How to start using the IBC policy 05:21 The experience of b...
Oct 05, 2023•40 min•Ep. 83
In today's episode of the series, Tom and Chris talk about cash flow management being a crucial aspect of business and IBC offers an alternative method to traditional banking. A business owner who creates their own private bank has the ability to take advantage of tax benefits, dividends, and greater control of loan terms without any liens on business assets. With the immediate availability to cash, life insurance can play a huge role in land and real estate investment as well. Thinking about be...
Sep 28, 2023•23 min•Ep. 82
Today, Tom and Chris discuss the importance of transferring wealth across generations and how that can be accomplished using IBC. Chris shares his personal story about his father's whole life policy and how it grew over the years giving him the ability to set up policies for his own children. They talk about the value of having conversations about finances, death, and wealth growth within the family, and the emotional aspects that come with it. Tom also explains how he has structured the policie...
Sep 21, 2023•33 min•Ep. 81
Tom and Chris discuss the "buy term and invest the difference" strategy, which advises purchasing term insurance for temporary coverage while investing the cost difference in the stock market. They emphasize the benefits of diversification in investment portfolios and suggest considering various risk assets. They also discuss the advantages of whole life insurance as a risk management tool, providing stability and liquidity during financial hardships. Take a listen to her more about this and how...
Sep 14, 2023•37 min•Ep. 80
For today's episode of the series, Tom and Chris discuss various aspects of the life insurance industry and its relation to the Infinite Banking Concept. They highlight the difference between life insurance companies and stock companies, emphasizing that life insurance companies are owned by their policyholders while stock companies are owned by the public and more focused on short-term returns. This episode also touches on the role of life insurance as a wealth storage tool. Tune in to hear a b...
Sep 07, 2023•27 min•Ep. 79
In part four of this series with Chris Tormey, they talk about the five simple rules for IBC and the human problems that stop people from having success and wealth. It is crucial to adopt a long-range mindset and carefully consider future implications of financial choices. By consistently paying premiums, embracing opportunities to capitalize on cash value, and minimizing reliance on traditional banks, you can maximize your wealth. Listen in to hear more about these and the behavioral problems t...
Aug 31, 2023•31 min•Ep. 78
In today's episode, Tom and Chris talk about delayed gratification and its impact on life and wealth in a world of instant gratification. They discuss the need for finding a balance between immediate gains and future-oriented actions. Embracing failure as a part of growth and building good money habits through consistent savings, risk mitigation, and a balanced approach to wealth building are keys to success. Identifying foundational elements of wealth that withstand various conditions is essent...
Aug 24, 2023•25 min•Ep. 77
Today, in part two of Tom's series with Chris Tormey, they dive into how IBC actually works and the benefit it has for managing finances. They explain how IBC gives people the opportunity to take control of the banking function in their lives and that whole life isn't just for income replacement but also serves as a means of building equity and legacy. Take a listen to learn more about how to leverage cash value during your lifetime. Highlights 01:27 The misunderstandings around life insurance 0...
Aug 17, 2023•38 min•Ep. 76
In this nine part series, Tom is joined by fellow IBC Practitioner Chris Tormey to provide their perspective on Foundations of IBC. Today, in part one, they elaborate on the Infinite Banking Concept itself. They further discuss the characteristics of a good investment and how a well-structured whole life policy can provide benefits such as accessibility to cash, minimal market volatility, protection against inflation, and ultimate control of your wealth and finances. During this series, they wil...
Aug 10, 2023•35 min•Ep. 75
Today, Tom is joined by Dave Wolcott: Author, podcast host, and founder and CEO of Pantheon Investments to talk about entrepreneurs building wealth by passively investing in superior real estate and alternative assets that provide predictable cash flow and tax efficiency. Tom and Dave talk about shifting paradigms to find success and freedom in life and own their futures so they can achieve and invest more than they thought possible. Tune in today! Highlights 00:07 Who is Dave Wolcott? 01:50 Wha...
Aug 03, 2023•39 min•Ep. 74
Time moves fast and before we know it, years fly by especially when we start getting comfortable. We can often neglect to stop and reflect on why we are doing the things we are or aren't doing. The world's most influential values are family, relationships, and financial security. Tune in today to hear Tom talk about his hopes to inspire others to think about how they can best support their families and leave a lasting mark. Highlights 00:43 Reflecting on aligning actions with values 02:57 A surv...
Jul 27, 2023•21 min•Ep. 73
Tom is joined by Curtis May of Practical Wealth Advisors to talk about freedom of wealth and life. They help their clients achieve more than they thought possible from a financial perspective and want more control over their money. They want to become financially independent before age 65. They are committed to lifelong learning and know that with the right education, they can find the best solution for their financial well being. Tune in today to learn where you could be losing significant weal...
Jul 20, 2023•42 min•Ep. 72
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 Encoura...
Jul 13, 2023•19 min•Ep. 71
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 pl...
Jul 06, 2023•37 min•Ep. 70
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 inve...
Jun 29, 2023•22 min•Ep. 69
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 ...
Jun 22, 2023•30 min•Ep. 68
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 co...
Jun 15, 2023•16 min•Ep. 67
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 s...
Jun 08, 2023•33 min•Ep. 66
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...
Jun 01, 2023•20 min•Ep. 65
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 ho...
May 25, 2023•23 min•Ep. 64
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 ri...
May 23, 2023•20 min•Ep. 63
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, ...
May 18, 2023•21 min•Ep. 62
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 H...
May 16, 2023•36 min•Ep. 61
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...
May 11, 2023•22 min•Ep. 60
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...
May 09, 2023•31 min•Ep. 59
