The Best Investment Nobody Talks About

I work with a lot of very successful people who get a lot of advice. They are told a host of different ways to beef up their bottom line, save money, and invest for the future. However, most of them are NOT being told about a simple, low risk way to make HUGE returns.

Most of us are being told to invest in the stock market (which I believe is a BIG mistake for most people), invest in real estate (which I like a lot for the right people), or buy commodities as a hedge against inflation or the devaluation of the dollar.

But NONE of these has the kind of returns I’m talking about… It’s not even close. (And they often come with a lot of risk for the uninformed investor)

So why would you want to take unnecessary risk for rewards that fall far below what I’m going to suggest… Simple, there are 2 reasons:

1) It’s not sexy or glamorous. Many people choose something flashy over what gets results, but I’m a fan of dollars-that-make-me-more-dollars as a first priority (call me old fashioned).

2) It doesn’t fall under the category of a ‘traditional investment’ so most people don’t think of it that way.

So what am I talking about?

Have you ever heard the phrase, “It’s not how much you make, it’s how much you keep?”

I’m talking about keeping a TON more of the money you make by (stick with me here – I’ll explain more) hiring an “A Lister” Tax Accountant.

Surprised?

Did you realize that taxes will be the SINGLE LARGEST COST in your life? (And your house isn’t even a close 2nd). It is HUGE!

I’ve literally seen people I work with save over $100k by paying a good tax specialist less than $5k to do a review and make some alterations to their returns.

That is a 20X RETURN…

…but it gets even BETTER!

If you have a good “tax guy” you’ll get to enjoy those savings EVERY SINGLE YEAR moving forward. For many of us that is 40, 50, or even 60 years of saving a TON more on taxes. Depending on how you determine that return on investment, it’s likely a strong 6 figure difference in your life time.

Think about that… 6 (or even 7) FIGURES on a tiny investment!

For round numbers sake, think about it like this…

If you’re household income is $150k and you pay 25% in taxes. Then you will pay $37,500 in taxes per year. If a good tax guy can get you down to 15%, you’d save $15k a year. If you’re in your 30’s and going to pay taxes for the next 40 years (or longer), that’s over $600,000 in savings. ($15,000 x 40 = $600,000)

Imagine if you make more than that… Your returns will be even higher!

Picture all of the fun adventures you could have, the house you could buy, or what you could do for your family with all of that “extra cash”!

So here’s the problem…

Most people are TOO LAZY to take the time to find someone that is actually an “A Lister” when it comest to taxes. In fact, you probably believe your current “guy” is really good… right?

But how do you know?

Have you ever had someone double check his/her work?

The truth might surprise you…

I’ve seen the numbers, and it’s pretty staggering. In the firms I’ve worked with, the average business owner we double checked was over paying taxes by more than $20,000 a year. Yep, I said it… $20K A YEAR!

That’s obscene – and its unnecessary. You EARNED the money, and you deserve to KEEP it.

So what should you do about it?

First you need to decide that you’re willing to consider working with someone who’s more than ‘average’ at taxes. You’ve got to come to the realization that you need a true PRO!

Second, you need help evaluating your situation. Everyone’s situation is different, so reach out to us to set up and appointment and we’ll help you evaluate your current situation and your “tax guy” to see what makes sense.

We’ll even refer you to an “A Lister” if yours isn’t cutting the mustard, so you’ve got NOTHING to lose. It’s completely free and you can schedule your appointment by clicking here…

So it’s up to you. Are you willing to spend a few minutes and a few bucks to create TREMENDOUS returns? (I mean the kind that can literally change the course of your financial life)

If the answer is ‘Yes’, then download What Would the Rockefeller's Do? and learn more about how the wealthy utilize money differently, and how you can learn from their approach.

On a final note, if you aren’t filing for tax incentives or rebates, you could be missing out on a LOT of money the IRS would gladly give back. Over 95% of CPA’s don’t do this for small businesses, so it’s worth considering. You can find out more about that here…

Is All Debt Bad?

To many people "debt" is a worse four letter word than those other vulgar unspeakables.

In the eyes of most financial people, debt is the worst possible demon and to be avoided at all costs. Catch phrases that promote paying off your house early, never going on vacation, and always buying a used car permeate this ‘debt is the devil’ culture, and for good reason. Debt can cripple you if it is abused.

But what if I told you that there is a ‘right’ way to use debt?

In fact, what if I told you it’s possible there’s such a thing as ‘good debt’?

Unbelievable?

Those who think that all debt is bad aren’t seeing the whole picture, and that’s what I want you to see – the WHOLE picture.

In actuality, there are several types of debt. Some are pure evil and others may as well have angel wings on them.

For example, would you ever be able to buy a home without using debt? For most Americans the answer is a resounding ‘No’. In fact, most people would never be able to buy a car, start a business, or go to college without debt – and without those options, our country would be blasted back to the stone ages.

Is it true that nice houses, cars, and business or student loans can be crippling. Yes. However, if used responsibly, that debt can also repay itself a hundred fold.

So how do you know if you’re using debt for your own good, or if its digging your financial grave?

Here’s a simply way to look at debt through the lens of financial strategy by classifying each debt as 1 of 4 possible categories:

1) Destructive Debt: This is borrowing to spend on things that are negative in almost every way. It includes gambling, drugs, alcohol, illegal activities and more. You should NEVER borrow money for these things. Period.

2) Consumptive Debt: This includes vacations, TV’s, the latest technology, expensive clothes, etc. These are all things that are nice to have, but unnecessary for anything other than pure enjoyment. You should absolutely purchase the things or experiences that help you enjoy life, but you should NEVER borrow or them. It’s a recipe for disaster. Instead, implement a savings plan to purchase them guilt free and sleep well knowing you are living within your means!

3) Protective Debt: This primarily includes insurances for home, care, health, life, and your business(es). These are all important items because they protect you from losing big when life throws you a curveball, but if you are borrowing to pay them, you are digging yourself a hole that may never end.

4) Productive Debt: This is the good stuff and includes education, personal development, business loans, and even car or home loans. But not every loan under the categories listed qualifies, so it can be a little bit tricky. Here is the test. Ask yourself, “In the long run, will the education or advantage I receive from the product or service I’m purchasing make me MORE money than it is costing me?” In other words, could this purchase qualify as an “investment” that will create more income than it costs? If the answer is ‘Yes’ it qualifies. If not, it is likely a consumptive expense and should be paid for in cash.

The underlying concept here is “Opportunity Cost” (which I will discuss in an upcoming article) and requires the understanding of the unseen costs of any purchase.

So before you make purchases in the future or take on any debt, take the time to ask yourself what type of debt/purchase it might be, and then act accordingly.

If you have further questions on this topic, comment below or contact our office to schedule an appointment to gain more clarity.

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The Most Important Financial Habit

Imagine you just bought your dream car. How would it feel to sit behind the wheel with the windows rolled down and the fresh wind blowing across your skin. The rumble of the engine tickling you as your favorite song plays on the radio making you want to sing at the top of your lungs, and you can’t believe how great it feels to lean into the incredibly comfortable seat. Everywhere you go, people see your car and gaze in admiration at how beautiful it is rolling down the road…

Then suddenly the engine stops cold. Not even a gurgle as it freezes and leaves you sitting in a lifeless, soundless, hunk of metal going nowhere.

Just 30 seconds ago you were living the good life, but now you’re wondering how you’re going to get anywhere… What changed?

The engine stopped. That’s what.

In a car your engine is EVERYTHING. Without it you can’t move anywhere, the windows don’t work, and even the radio stops. The engine is the entire foundation of what makes a car go.

Your financial life is the same thing. It has a lot of fluffy bells and whistles that can be exciting, but without the ‘engine’ none of it works.

So what’s the financial engine in your life? Learning to SAVE.

I know. I know. That’s not very sexy. BUT, it’s incredibly important.

Think about it… If you never saved any money, how would you grow your business? How would you invest? How would you ever go on vacation, buy a house, or do anything that cost more than a single paycheck?

Learning to systematically save is literally he difference between people who become incredibly wealthy and those who live paycheck to paycheck. Yes, even if you make a LOT of money.

I’ve worked with 1000’s of small business owners and I’ve seen this play out in every. single. case. I’ve helped people who make less than $50,000 a year and are building wealth, and I’ve worked with too many people that make $50,000 a MONTH and are BROKE.

The broke ones spend every penny they make and live in constant fear.

How is that possible?

Because they never learned to save. That’s it.

Seriously. The “broke ones” are smart people and they are doing a lot of things right, but they never figured out how to set aside money from each ‘payday’ and its KILLING them. Its hard on their health, it strains their marriage, and it will be very hard on them when life throws a ‘curve ball’ and they have nothing to fall back on.

Before you learn to run you must learn to walk.

Before the windows and radio work in the car, the engine has to be firing.

Before you can build wealth and invest effectively, you must learn to save.

If you aren’t already, start setting aside at least 10% of every dollar you make. Unless you are absolutely broke already, you should be able to do that quite easily. THEN, once you’re used to 10%, bump it to 15% and then 20%. You’ll be amazed at how quickly the money builds up.

Guess what else builds up? Your confidence. Your abundance. Your optimism.

Somehow the world looks a lot rosier when you’ve got financial strength, and I want you to experience it.

Saving isn't the only component of building wealth, but without it, you’ll never even get out of the parking lot!

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