Tom Wheelwright, CPA is best known for making taxes fun and understandable. He specializes in helping entrepreneurs and investors build wealth through permanently reducing taxes. We discuss the new tax law including issues of divorce and alimony, real estate depreciation, car depreciation, business structuring, and how involved one should be with their own taxes. Check out his recent book "Tax Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes." http://wealthability.com/tfwamazon
54: Net Worth of 1.4M - Single Mom and Teacher With Four Kids
In this episode Frogdancer Jones shares her story of financial success. Following her divorce 21 years ago, she started her journey with less than $100, a mortgage to pay, and four young kids. She discusses how frugality played a large impact on her success and how her teaching career, with an average salary of 70K, helped cover her needs. She shares motivational ideas for saving money, her portfolio allocation, and offers advice to those in a similar financial and life situation.
53: Net Worth of 1.2M - Marketing Manager and Ponzi Scheme Victim
Rick is a Canadian marketing manager with a net worth of 1.2M. He is married with two kids and has worked for the same company for 15 years. He holds 550K in a paid for house, about 350K in investments, and nearly 250K in his employee pension fund. Of the 350K, 90% are held in equity securities and 10% in bonds. He further breaks out his investments between US, Canadian, and international holdings. He unveils his investing philosophy and financial mistakes.
52: Net Worth of 5.0M - "I Didn't get Here by Contributing to a 401(k)"
This episode features Beau with a current net worth of 5M. He holds about 3M in an HR outsourcing firm - his core business. He also has 800K invested in the market, a paid for house valued at about 700K, and other small business ventures and land. We discuss his journey and strategy as an entrepreneur during which he's owned several businesses including an auto parts store, health clubs, and nutrition stores. We also discuss Beau's take on teaching his children about money and his financial goals.
51: How About $100 Million?
In this episode we provide a recap of our last 10 interviews and discuss the lessons and trends we've learned from interviewing nearly 50 millionaires. Thus far, our interviewees have a combined net worth of nearly $100 million. We also provide updates on the show including future guest interviews with Robert Kiyosaki and Tom Wheelwright.