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Winning The Game - What It Takes To Become Truly Financially Free (Keynote) | JP Newman
Manage episode 404799967 series 3345037
Treść dostarczona przez JP Newman and Ryan Daniel Moran. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez JP Newman and Ryan Daniel Moran lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.player.fm/legal.
In this insightful episode, JP shares his journey of building wealth through real estate, investing, and the lessons he's learned along the way. He discusses the importance of financial literacy, knowing your burn rate, and creating structures to protect your assets during economic shifts. JP breaks down the wealth pyramid, emphasizing the balance between liquidity, cash flow, and speculation. He also delves into tax strategies, asset protection, and estate planning. Beyond the financials, JP highlights the significance of cultivating a healthy mindset and defining wealth in terms of your own values, contributions, and legacy.
This episode is a must-watch for entrepreneurs seeking to build and preserve wealth while finding true fulfillment.
If you'd like to find out more about Thrive FP, head to https://thrivefp.com
To sign up for The Thriving Investor, head to https://jp-newman.com
Timestamps:
00:00 - Introduction
01:25 - JP's journey and real estate syndication business
04:04 - The importance of financial literacy
05:02 - Step 1: Know what you want and plan for it 06:12 - Step 2: Determine your burn rate to live the life you want
07:18 - Step 3: Formulate your plan with allocated investment buckets
08:32 - The Wealth Pyramid: Liquidity, Cash Flow, and Speculation
18:45 - Formulas for liquidity and cash flow
23:05 - Favorite tax strategies: Captive insurance, solar credits, opportunity zones
29:38 - Life insurance for asset protection and borrowing
32:23 - Balancing asset protection and being bankable
33:17 - Estate planning and avoiding personal guarantees
35:09 - Legacy and values: Teaching kids about philanthropy
37:52 - Cultivating a healthy mindset and defining wealth beyond financials
39:47 - Mindset in the 50s: From success to significance
41:26 - Final takeaway: True wealth extends beyond financials
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