2018 Mid Year Financial Assessment

goals income taxes May 23, 2018


I am leaving for China this weekend.  Visiting Beijing, ShanghaiHong Kong, and Macau.  We have a number of meetings with a few investment firms about the largest industrial project in the world, OBOR, One Belt One Road.  Over $6 Trillion is committed to the project and I have investment capital in the region.  I am excited as it's my first time visiting Asia.

I find it fascinating when people ask "Are you traveling for business or pleasure"?  Fortunately, I have NEVER separated the two (2) as what I do is business and I have lots of fun which brings me pleasure, whether it's where I reside and/or travel.  It's all the same.   I have lots of fun and make money at the same time.

I feel very sorry for those who do NOT have this as their reality.  Most likely its a result doing what they don't love.   Thus, they are working just for the money and the money doesn't bring them any...

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Episode 47 – Jeremy Roll – The Importance of Diversification

show May 18, 2018

Jeremy is a full-time investor who likes to diversify across asset classes, operators, and geographies. For him investing broadly is important to minimize risk. He focuses on investments that he fully understands and it takes awhile to get comfortable with new asset classes, operators, and geographies.

For example, you don’t want to be fully invested in something like indoor strip malls and be exposed to your income and the value of your asset plummeting as the market shifts to online purchases. What looks good today may not be good tomorrow.

Jeremy looks for predictability of cash-flow. The more diversified one is the less volatility in their portfolio. His diversified portfolio consists of apartments, student housing, mobile home parks, self-storage facilities, retail strip malls, office buildings, and various aspects of single family homes. He also has investments in ATMs, websites and recently a couple of startups.

The net worth of 80% of households in the U.S. has ...

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Episode 46: Gena Lofton - How To Achieve Financial Freedom

show May 11, 2018

In today’s episode, Gena answers your questions about the Financial Freedom Formula (F3) which enables one to Achieve Financial Independence in less than a few short years.

The methodology is simple, as it requires one to reduce their taxes and/or use debt to buy/build assets which generate tax-efficient streams of passive income until one achieves their infinite wealth number. Financial Freedom is achieved when you have enough passive income to pay your expenses, then you will NOT need a JOB. Your expenses will be paid each month with your passive income, then you are free to pursue your passion.

Everyone has a different wealth number. Gena calls this your “infinite wealth number.” Some people invest for capital gains while others invest for cash-flow. These are two (2) different approaches, and the Financial Freedom Formula’s purpose is to help you use both and focuses on generating sufficient passive income/cash flow.

Gena talks about Kiyosaki’s...

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Episode 45: Kaaren Hall - Self Directing IRA's and Retirement

show May 04, 2018

I’d like to introduce Kaaren Hall, her company uDirect IRA helps you manage your retirement 401k or IRA and convert that to a self-directed IRA that allows you to control your investments and direct them into a wider base of asset classes.

Kaaren says, “This is an essential service because we all need to save for retirement.” There is a $27 trillion dollar pool of money in retirement funds and 97% of that is NOT self-directed. Many CPA’s and attorneys do not even know about this option even though it has been available since the 1970s. Having a self-directed IRA allows you to invest in many other areas like rental properties, LLC’s, real estate and private lending.

There are some drawbacks with this these types of IRA’s in that you cannot write-off losses. Therefore, as with any investment, you have to do your due diligence to make sure that you won’t experience losses with your investment. She discusses the important rules that exist...

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Episode 44: Mark Mobius – Investing in Emerging Markets

show Apr 27, 2018

The Guru of Emerging Markets is Mark Mobius. Mark is starting a new company, Mobius Capital Partners after his retirement in January 2018 as the Executive Chairman of Templeton Emerging Markets Group.

Mark started at Templeton back in 1987, before most Americans knew there were markets and/or countries to invest outside of the United States.

You can see why it was imperative for me to speak with Mark before my trip to China next month to meet with a few companies to discuss investment opportunities related to the largest industrial project in the history of the world, One Belt One Road (OBOR).

His new company will begin in April or May. Their mutual fund will be open to anyone around the world depending on regulations. Once they are registered in the United States, they will be open to IRA customers. This new fund will focus on emerging markets and public companies. They intend to invest in companies that are willing to act ethically; Mobius Capital will seek to encourage and...

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A Tale of Two Retirement Strategies Wall Street vs. Main Street

Strategy 1 – Wall Street

Wall Street investors hope to buy low and sell high to generate a capital gain.  They believe investing in a well-diversified portfolio of stocks, bonds, and mutual funds will enable them to retire and live off their nest eggs.   Unfortunately, this Strategy is one of the main reasons most people have inadequate funds to ever stop working.   Their biggest fear is outliving their money.    

According to the Economic Policy Institute, most people approaching retirement have little or no retirement savings. 

In addition to gambling on Wall Street, other reasons they have insufficient money is due to the following factors:

  • They spend their life working for money vs. building/buying assets;
  • They confuse assets with liabilities. “Assets feed you and liabilities eat you”.
  • They use debt to buy liabilities vs. using it to buy assets. Money has been free for a decade due to the Federal Reserve Interest...
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Episode 43: Gena Lofton - Build Wealth Faster by Reducing Your Taxes To Well Under 20 Percent

show Apr 20, 2018

Earlier this week Tax Returns or Extensions were due in the United States. So, Gena dedicated this weeks episode to the various ways you can generate income and the different tax rates for each type of income.

She learned this from the book “Cash-Flow Quadrant” by Robert Kiyosaki which explains the four (4) different ways that income is produced and the corresponding tax rates for each side of the quadrant.

People on the left-side of the quadrant can pay the highest tax rates of (40%) or more, depending upon their income level. Those on the Left Side are Employees and/or Self-employed people. Most people start on the Left side of the quadrant. However, those on the Right side of the quadrant who are Business Owners and/or Investors can pay as little as 0% to 20% in taxes.

Which side would you rather earn your income, Left or Right?

Unfortunately, this is NOT taught in our school system as the school system cannot teach what it doesn’t know so it only teaches one...

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income tax Apr 17, 2018

Today, April 17th your Tax Returns are due or you should have filled an extension at a minimum.

Over a decade ago, I hired a team of the best Tax Advisors on the planet which resulted in my ability to reduce my taxes. 

The biggest lesson learned is anyone paying an excess of 20% in taxes is unpatriotic.

The tax code is just a book of incentives for the citizens to do what the government wants.   Essentially, they want the citizens to provide jobs and/or housing.  You can learn more about what they want in order to get the best incentives for yourself inside the complimentary masterclass.  

The best part about doing what the Government wants is that those tax savings can be used to buy assets in order to begin generating tax-efficient income.  Then you will be able to permanently reduce your taxes.  When executed with precision which you will learn in the masterclass you will...

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Episode 42: Hunter Thompson - Passive Real Estate Investing for Cash-Flow

show Apr 13, 2018

Hunter helps accredited investors invest in real estate primarily through mobile home parks and self-storage facilities. He aims to be diversified as much as possible. He saw opportunities in multiple markets, but they realized there was overlooked opportunities. He recalled watching bond markets back in 2010 and saw that global events were influencing his entire investment portfolio. This is what lead him to real estate investing.

He focuses on specific markets, that have cash-flow, and have good supply-demand equilibrium. His company invests in secondary markets that are often overlooked.

He uses a syndicated model which allows them to pool funds from multiple investors and work with a property manager as well as a sponsor/operator that works directly with the investors. As a passive investor with this arrangement your not dealing with the tenants in any way. This is similar to a privately owned REIT.

They use an operational agreement that outlines how things are managed, as...

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Episode 41: Tom Wheelwright - Making the New Tax Laws Work for You

show Apr 07, 2018

Today I interviewed Tom Wheelwright, he is the Founder and CEO of WealthAbility. Tom’s early career was focused on developing training courses teaching CPA’s Tax Law and began his career at Ernst & Whinney, known today as Ernst & Young. Thus, we are both alum, but at different times and different capacities.

Tom, then started his own firm and acquired an accounting firm. His company has grown significantly over the years. Last year Tom and his partner decided they wanted to help more people around the globe, therefore, they decided to build a network of accounting firms to focus on Entrepreneurs and Investors in which Provision is one of the firms in the network.


Tax laws are often not that different from country to country as they are a set of incentives for citizens to do what the government wants, such as provide jobs and/or housing. Wealthability is trying to change the accounting profession; they want to look at taxes as being a good thing and find...

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