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The Tom Ferry Podcast Experience
Savvy Financial Management: Taxes, Assets, Debt, Legacy | Tom Ferry Podcast Experience
Aug 22, 2024
Toby Mathis, President of Anderson Business Advisors and author of "Infinity Investing," shares his expertise on savvy financial management. He emphasizes financial literacy as the key to achieving generational wealth. Topics include the 30-30-10 investment model, which advocates for a balanced approach to income allocation and asset protection. Toby discusses the importance of controlling assets through trusts and LLCs to shield against liabilities. Listeners are encouraged to move beyond traditional financial practices and take actionable steps towards securing their financial future.
34:14
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Quick takeaways
- Individuals should categorize their finances into protective asset management, cash flow enhancement, and legacy planning to ensure sustained financial stability.
- Building financial knowledge through strategic reading and education is crucial for real estate agents to enhance their wealth and secure their legacy.
Deep dives
Achieving Financial Savvy
To become financially savvy, individuals should consider a strategic approach to managing money by categorizing their finances into four key areas. Firstly, it’s essential to focus on protecting assets that have been created to ensure stability and security. Secondly, increasing cash flow is vital; individuals need to find ways to retain more earnings and minimize tax liabilities. Lastly, creating a deliberate legacy plan is critical to avoid complications such as probate, which can lead to financial chaos for families following a person's passing.
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Listen to the best highlights from the podcasts you love and dive into the full episode