Financial Traps You Need To Be Aware Of
Perennial Pride
Today, Tom dives into the concept of freedom and the various financial traps that can hinder wealth building. He emphasizes the importance of understanding debt, retirement accounts, the tax system, home ownership, inflation, reliance on government support, and hidden fees in finance. Tune in today to hear more about taking control of your financial lives and make informed decisions to achieve true freedom and wealth. Highlights 01:04 - Perspective in financial decision-making. 03:39 - Debt as a wealth-building trap. 05:57 - Student loans and the burden of debt. 09:47 - Rethinking...
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The True Meaning of Wealth - More Than Money
Perennial Pride
In this podcast episode, Tom explores the concept of wealth beyond just financial capital. He emphasizes the importance of various forms of capital, including time, health, relationships, and purpose, in achieving a fulfilling life. Through personal anecdotes and reflections, he encourages listeners to assess their own wealth in these areas and take intentional steps towards improvement. Highlights 01:31 - Realizing True Wealth Beyond Finances 04:44 - Five Forms of Capital: A Holistic Approach 05:54 - Financial Capital: Importance of Cash Flow 07:12 - Time Capital: Prioritizing Your...
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Your Acres of Diamonds: Unlocking the Gold Within You
Perennial Pride
Join Tom today as he discusses the importance of self-investment and personal growth during uncertain times. He emphasizes the need to look within ourselves to identify opportunities and strengths, encouraging listeners to dream big and overcome fears. Tom shares insights on turning problems into opportunities, taking action, and seeking feedback from trusted individuals. Tune in to hear more about the value of embracing discomfort as a means for growth and success. Highlights 01:03 - “Acres of Diamonds” story. 03:36 - Investing in yourself first. 04:54 - Self-awareness and the...
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Inflation, Ignorance, and the IRS: Understanding Your 3 Biggest Costs
Perennial Pride
In this episode, Tom discusses the complexities of taxes and their impact on personal finance. He emphasizes the importance of understanding various types of taxes, including income tax, capital gains tax, estate tax, and the often-overlooked inflation tax. Tom introduces the concept of the 'ignorance tax,' highlighting the financial costs associated with a lack of knowledge about tax strategies. He encourages listeners to seek education and professional advice to mitigate their tax burdens and emphasizes the importance of continuous learning in achieving financial success. Take a listen today...
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Elite Golf. Elite Wealth. How the Best Play the Long Game — On the Course and With Their Capital
Perennial Pride
Today's episode, Tom draws the parallels between the game of golf and financial management, emphasizing the importance of long-term thinking, holistic approaches, and emotional control in achieving financial success. He discusses the significance of generational wealth, the need for the right financial tools, and the value of collaboration with experts to navigate complex financial landscapes. Tune in today to learn more about the measuring of financial progress and maintaining a proactive mindset to adapt to changing circumstances. Highlights 00:35 - Masters as a symbol for managing...
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Beyond the Numbers: Building a Life You Want with Gil Roberts
Perennial Pride
In this engaging conversation, Tom chats with Gil Roberts, an entrepreneur with a diverse background in finance and business. They talk about the journey from traditional finance to entrepreneurship, discussing the lessons learned from early failures and successes. Gil emphasizes the importance of understanding the financial system, the value of connecting with people, and the need to break free from societal expectations. Tune in to hear more about the significance of personal fulfillment over material possessions. Highlights 01:27 - Transition from programming to finance. 02:14 - First...
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Maximizing Business Value Before Sale with Steve DeTray
Perennial Pride
Today, Tom is joined by Steve DeTray to discuss the critical aspects of business exit planning, emphasizing the importance of having a succession plan, understanding business valuation, and preparing both the business and the owner for a successful exit. They explore the mindset shift required for business owners, the role of a support team, and the emotional readiness needed for transitioning out of a business. Thinking about selling your business? This episode is for you! Highlights 01:33 - Mistakes from a rushed business exit. 06:58 - Necessity of a business-owner mindset shift. 11:06 - The...
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The Hidden Importance of Insurance with Kyle Shoulvin
Perennial Pride
In today's exciting episode, Tom chats with Kyle Shoulvin, an independent insurance broker, discussing the often-overlooked importance of insurance in financial planning. Kyle shares his journey from teaching to the insurance industry, emphasizing the value of independent agencies in providing personalized insurance solutions. They dive into essential personal insurance coverages, the significance of liability coverage, and the complexities of homeowners insurance, particularly in the context of rising risks and market challenges. Tune in to make sure you have all the right coverage you...
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Embracing Change: Strategies for Personal Development
Perennial Pride
In this episode, Tom talks about the inevitability of change in life and how to navigate it positively. He emphasizes the importance of self-reflection, understanding one's unique strengths, continuous education, taking action, surrounding oneself with supportive people, and financial preparedness. Additionally, he highlights the significance of risk management and cultivating gratitude during times of transition. Tune in to be inspired to embrace change as a pathway to personal growth and fulfillment! Highlights 01:04 - Embracing Impermanence: The Inevitability of Change. 04:38 - Finding...
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Have Your Dollars Do More Than One Job
Perennial Pride
Today, Tom dives into the concept of wealth stacking, emphasizing the importance of making money work for you in multiple ways. He introduces the infinite banking concept as a strategy to leverage life insurance for wealth accumulation and explores various methods to utilize home equity and investment portfolios effectively. Tom also highlights the risks associated with leveraging debt and the importance of making informed investment decisions to ensure financial growth and security. Tune in to hear more! Highlights 02:59 - Challenging traditional wealth-building. 05:56 - Introduction to...
info_outlineToday, Tom dives into the concept of wealth stacking, emphasizing the importance of making money work for you in multiple ways. He introduces the infinite banking concept as a strategy to leverage life insurance for wealth accumulation and explores various methods to utilize home equity and investment portfolios effectively. Tom also highlights the risks associated with leveraging debt and the importance of making informed investment decisions to ensure financial growth and security. Tune in to hear more!
Highlights
02:59 - Challenging traditional wealth-building.
05:56 - Introduction to Infinite Banking concept.
08:39 - Borrowing against life insurance policies.
10:05 - Real estate leveraging example.
14:44 - Risks of leveraging for investments.
16:47 - Warren Buffett’s rule on not losing money.
19:08 - Risks and controls in using margin loans.
23:45 - Importance of not over-leveraging.
26:20 - Advanced debt strategies and traditional advice contrast.
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:
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