Keeping More Money for Your Own Investing Freedom w/Tom Suvansri
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Episode Description
Welcome to the Freedom Point Real Estate podcast! Jeremy Dyer invites guest investor Tom Suvansri to share about his transition from the corporate world to the financial world, how his advisory firm differs from others, dealing with mainstream financial advice, investing in what you know, infinite banking, and more.
Tom is a specialist in advanced insurance strategies and investment analysis. With his analytical strength, focus on serving clients, and feeling of responsibility towards others, Tom helps clients take control of their finances. In addition, Tom has had success within real estate investing through the ownership and management of various rental properties as well as participating in private lending arrangements. Tom currently resides in Stamford, CT, with his wife, Bridget and their two boys, Aidan and Colin. In his free time, Tom loves to read, exercise, play an occasional round of golf, and just enjoy family time.
CONNECT WITH TOM SUVANSRI!
Website: https://www.perennialpride.com/
LinkedIn: https://www.linkedin.com/company/perennial-pride/
Youtube: https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
CONNECT WITH JEREMY DYER!
Website: https://startingpointcapital.com/
Instagram: https://www.instagram.com/startingpointcapital/
LinkedIn: https://www.linkedin.com/in/jeremydyer
Facebook: https://www.facebook.com/startingpointcapital
Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12
Summary
Tip #1: Embrace Financial Independence
"Mainstream financial advice keeps control of most Americans' wealth and puts families at higher risk than necessary." Tom emphasizes the importance of taking ownership of your financial life. Instead of relying solely on conventional financial advice, explore ways to control and manage your own wealth. This reduces dependence on volatile markets and increases financial security.
Tip #2: Understand the Financial System
"Financial institutions are there to control our wealth whether it's Wall Street, banks, or even insurance companies." Recognize how financial institutions profit from managing your money. By understanding their strategies, you can adopt similar principles for your own benefit, ensuring more of your money works for you rather than for them.
Tip #3: Focus on Reducing Taxes
"My practice is centered primarily around helping people keep more of their money by reducing taxes." One key strategy is to minimize tax liabilities. Work with tax professionals to explore advanced tax planning techniques that can significantly reduce what you owe, freeing up more funds for investment.
Tip #4: Diversify Your Investments
"Our financial world is much more complicated and connected." Diversification is crucial. Look beyond traditional stocks and bonds to alternative investments like real estate, private lending, and businesses. This approach can spread risk and enhance potential returns.
Tip #5: Invest in What You Understand
"What do you actually know and what is the purpose of the dollars?" Invest in assets and industries you understand. Knowledge reduces risk and increases confidence in your investment decisions. Avoid speculative investments unless you are well-versed in the area.
Tip #6: Build a Strong Financial Foundation
"Most clients' financial foundations have cracks all over the place." Before expanding your investment portfolio, ensure your financial foundation is solid. This means eliminating debt, having sufficient insurance, and maintaining an emergency fund. A strong foundation supports sustainable growth.
Tip #7: Leverage Infinite Banking
"Infinite banking is a process and even a lifestyle to manage your cash flow." Infinite banking involves using specially designed whole life insurance policies to manage cash flow and build wealth. This strategy offers tax advantages and provides a stable, predictable growth of funds.
Tip #8: Plan for Generational Wealth
"Think about generational wealth." Consider how your investments will impact not just your future but also the financial security of your descendants. Strategies like trusts and estate planning ensure your wealth benefits future generations.
Tip #9: Seek Expert Advice
"I have access to a lot of experts around the country." Surround yourself with a team of experts, including tax planners, estate attorneys, and financial advisors. Their specialized knowledge can help you navigate complex financial landscapes and optimize your strategies.
Tip #10: Continuously Educate Yourself
"I'm a big champion of education." Stay informed about financial trends and new investment opportunities. Continuous learning enables you to adapt to changes and make informed decisions, ensuring your investment strategies remain effective over time.
