Vital Wealth Strategies

Do you want to ensure your assets are shielded from creditors and legal liabilities? Learn how to legally avoid paying the federal estate tax which is 40%. Join us for an insightful discussion on asset protection and estate planning with Kyle Irvin.  In our most recent episode, we sit down with Kyle Irvin, an expert in asset protection and estate planning. I have worked closely together with Kyle for years. He brings practical wisdom to the table, unraveling the complexities of asset protection strategies and legal nuances across different states.  In this episode, Kyle explains the various levels of asset protection, from safeguarding your home and retirement accounts to navigating the intricate laws surrounding LLCs and corporations. He sheds light on critical components to ensure solid asset protection, including the importance of annual meetings, maintaining corporate records, and treating LLCs as bona fide businesses.  Unlock the secrets to securing your financial future and leaving a lasting impact for generations to come.  Key Takeaways:  Comprehensive asset protection strategies  Key components of asset protection  Leveraging LLCs and corporations  Advanced techniques like siloing assets and series LLCs  Utilizing trusts for estate planning  Resources:   Visit www.vitalstrategies.com to download FREE resources     Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    Follow on Instagram at https://www.instagram.com/vital.strategies      Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits:    Sponsored by Vital Wealth    Music by Cephas    Audio, video, and show notes produced by Podcast Abundance   Research and copywriting by Victoria O'Brien   

It's astonishing – $200-$250 billion in life insurance policies lapse every year. Curious to know how Abacus Life is not only changing the narrative but turning these lapses into substantial assets for clients? Tune in to find out.  In the latest Vital Strategies Podcast episode, host Patrick Lonergan is joined by Kolby Skolnik, from Abacus Life, a publicly traded company on Nasdaq and a leading alternative asset manager. Together, they explore Abacus Life's unique approach to life insurance as a valuable asset.  The episode highlights how Abacus Life purchases policies at a premium above the cash surrender value, allowing clients to enjoy returns 6-8 times higher. Abacus Life becomes a crucial player when individuals want to turn their life insurance into a proactive financial asset.  The conversation covers the uses of life insurance for protection and liquidity. Listeners will gain insights into investment strategies, term rescues, and real-life case studies showcasing Abacus Life's impact.  Key Takeaways:  Abacus Life's Unique Approach  Diverse Uses of Life Insurance  Mortality-Based Approach  Resources:   Visit www.vitalstrategies.com to download FREE resources     Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    Follow on Instagram at https://www.instagram.com/vital.strategies      Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits:    Sponsored by Vital Wealth    Music by Cephas    Audio, video, and show notes produced by Podcast Abundance   Research and copywriting by Victoria O'Brien   

Do you find financial planning to be a one-size-fits-all experience? Challenge that notion with the Vital Strategies Podcast, where we discuss the importance of personalized, proactive planning tailored to your unique goals.  In this episode, Patrick Lonergan and Steven Jarvis unpack Vital Wealth's core principles, initially featured on the Retirement Tax Services Podcast. Discussing the crucial link between tax savings and wealth building, involving proactive tax planning, cash flow optimization, and strategic funding.   Discover how Vital Wealth strategically positions clients' finances to minimize tax liabilities, explore their pricing model, and understand the importance of ongoing client involvement in crafting tailored strategies. From onboarding specifics to monthly expectations, the episode highlights the significance of maintaining an active partnership with clients.  Key Takeaways:  The Vital Strategies Podcast Origin  Tax and Wealth Connection  Minimizing Tax Liabilities  Comprehensive Approach to Proactive Tax Planning  Resources:  Visit www.vitalstrategies.com to download FREE resources    Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   Follow on Instagram at https://www.instagram.com/vital.strategies     Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    Credits:   Sponsored by Vital Wealth   Music by Cephas   Audio, video, and show notes produced by Podcast Abundance  Research and copywriting by Victoria O'Brien  

This week, Patrick takes you on a journey through some of the most impactful moments from the last quarter. We're thrilled to present a compilation of insights and wisdom from our incredible guests. We are focusing on the crucial topics of tax strategy, wealth building and setting up your business for long-term success.  Tune in as we revisit key highlights, featuring expert tips on tax strategy, wealth management, entrepreneurial growth strategies, and visionary insights on future-proofing your business. Each snippet is carefully selected to provide you with a taste of the valuable knowledge shared by the experts we’ve had on the show.  As we dig into this compilation, we want to express our gratitude to the guests that have joined our podcast. Their wisdom allows us to pay less tax and build more wealth so we can live a great life. We're excited to celebrate their contributions in this episode. We encourage you to explore the full interviews with these guests on our podcast page and keep an eye out for more expert guest.  Key Takeaways:  Important Tax Saving Opportunities  Wealth Management Insights  Entrepreneurial Growth Strategies  Future-Proofing Your Business  Resources:  Visit www.vitalstrategies.com to download FREE resources    Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   Follow on Instagram at https://www.instagram.com/vital.strategies     Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    Credits:   Sponsored by Vital Wealth   Music by Cephas   Audio, video, and show notes produced by Podcast Abundance  Research and copywriting by Victoria O'Brien   

Today we sit down with tax expert Kevin Jerry to unlock a world of possibilities in real estate. Having personally witnessed Kevin save a client $1.5 million in income tax, we explore how his unique approach bridges the gap between your CPA's services and beyond.    In this episode, Kevin digs into Cost Segregation, Tangible Property Regulations, and Partial Asset Dispositions, illustrating their interconnectedness with real-world examples. Discover the opportunities each strategy unveils, and don't miss our discussion on the often-overlooked tax incentives for real estate.    Key Takeaways:  Strategic Concepts Explored  How to Take Advantage of Deductions in the Past  Tax Incentives    Resources:  Visit www.vitalstrategies.com to download FREE resources    Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   Follow on Instagram at https://www.instagram.com/vital.strategies     Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    Credits:   Sponsored by Vital Wealth   Music by Cephas   Audio, video, and show notes produced by Podcast Abundance  Research and copywriting by Victoria O'Brien   

Have you ever considered what makes your business truly valuable? Join us as we unravel the key component that could redefine the worth of your company. In this episode of the Vital Strategies Podcast, we sit down with Derek Ripp, a leading expert in Business Exit Planning. Together, we explore the intricacies of the 5, 4, 3, 2, 1 method - emphasizing proactive planning over reactivity. We take a look at business exit plan from the seller and buyer point of view and how to maximize your businesses value. A standout moment in our conversation revolves around identifying the singular component that adds unparalleled value to your company. We also unravel the three key areas integral to business exit planning, shedding light on the pivotal role of third-party advisors. Don't miss this episode, where we empower entrepreneurs to construct a comprehensive exit plan, setting the stage for a secure and regret-free retirement. Key Takeaways: 5, 4, 3, 2, 1 Method Two Main Options for Selling Your Business The Singular Component of Value Three Key Areas of Business Exit Planning Setting Up for Retirement Without Regret Resources: Visit www.vitalstrategies.com to download FREE resources   Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  Follow on Instagram at https://www.instagram.com/vital.strategies    Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits:  Sponsored by Vital Wealth  Music by Cephas  Audio, video, and show notes produced by Podcast Abundance Research and copywriting by Victoria O'Brien   

Have you ever thought about the tax implications of your life insurance plan? Ken Crabb, the mind behind Restricted Property Trust, did and created a groundbreaking solution. In this episode we welcome Ken Crabb, the visionary creator of the Restricted Property Trust (RPT). Over 25 years ago, Ken embarked on a quest to find a structure for tax-deductible life insurance and ended up creating one of the most innovative solutions in the field.  In this discussion, Ken shares the essence of the RPT, emphasizing the importance of structuring life insurance plans with a sound business purpose. Learn about the trust's selective nature, attaching to a single entity and impacting entrepreneurs with multiple businesses. Ken explains the intricacies of maximizing deductions, lowering tax bills, and how RPTs facilitate family transitions. Discover the affordability, liquidity, and flexibility of these structures, making this episode a must-listen for those seeking strategic financial planning insights. Key Takeaways: Selectivity of RPT Structuring Life Insurance Plans Audit Resilience Resources: Visit www.vitalstrategies.com to download FREE resources   Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  Follow on Instagram at https://www.instagram.com/vital.strategies    Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits:  Sponsored by Vital Wealth  Music by Cephas  Audio, video, and show notes produced by Podcast Abundance Research and copywriting by Victoria O'Brien   

Securing long-term financial freedom requires careful consideration of cashflow and making calculated investments without jeopardizing business growth. Entrepreneurs must conduct their due diligence by implementing tax strategies, maximizing retirement plans and deductions, and should always consult with professionals to navigate the complexities of financial management successfully.   In this episode, you’ll also hear:  Leveraging family business tax benefits and deductions    Drawbacks of getting your taxable income to zero  Proactive vs. reactive approach to taxes    Real estate investing, automation, and maintaining liquidity   Suggestion for working with financial professionals     Must-listen moments:   [00:06:30] If your CPA is over their head with your tax strategy, that's not uncommon. Oftentimes, CPAs, we need to understand that their business model is really just getting the tax return to the IRS in a way that is compliant.  [00:14:43] The QBI deduction, the qualified business income deduction, is the lesser of two numbers, it's the lesser of 50% of your wages or 20% of net income. When you're one of the only employees, or if you've got a small number of employees, you can start changing your, your wage and every dollar in wage brings the net income number down.  [00:28:25] Automation makes all the sense in the world. One of the reasons the 401k for the traditional employee has worked so well is the dollars never hit their bank account. The money comes straight out of their paycheck, goes into the 401k, gets invested, and then they hit retirement with a million, 2 million in their investment account.    If you’re focused on paying less tax and building more wealth, so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.   Visit www.vitalstrategies.com to download FREE resources   Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  Follow on Instagram at https://www.instagram.com/vital.strategies    Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits:  Sponsored by Vital Wealth  Music by Cephas  Audio, video, and show notes produced by Podcast Abundance Research and copywriting by Victoria O'Brien     

There are 3 key components to building real, sustainable wealth, and they aren’t as effortless as the fun, flashy, or as easy as online gurus make it seem.   One of those keys is owning a profitable online business. However, while entrepreneurship CAN create wealth, it comes with several cautionary tales.  With a lens on the tough road to business ownership, we discuss the essential qualities for success—having a solid 'why,' controlling impulses, and fostering innovation.  To create long-lasting wealth, your choice in investments is key. Strap in as we divulge the ins and outs of growing a hefty real estate portfolio, where my partner in life and business, Julie, became the linchpin of our operation. We'll navigate the complexities of financial leverage, the unsung heroes that are tenants, and the surprising benefits of amortization and depreciation.  In this episode, you’ll also hear:  The 3 keys to building wealth  3 key traits of successful business owners    The pros and cons to entrepreneurship  Advice for building liquidity into your portfolio  My personal journey to becoming a real estate investor    Must-listen moments:   [00:01:32] If you want to keep growing, you must constantly be doing new, hard things that will challenge you.  [00:04:47] You need to be dialed into the marketing and sales with an offering to the marketplace that delivers tremendous value. The more you can spread the word and deliver on your value proposition, the more buyers will find their way to you.  [00:08:35] A good rule of thumb to strive for is to build liquid assets in portfolio wealth equal to one year of income before you start putting money into illiquid assets like real estate and other business opportunities.    If you’re focused on paying less tax and building more wealth so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.   Visit www.vitalstrategies.com to download FREE resources.   Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  Follow on Instagram at https://www.instagram.com/vital.strategies    Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     Credits: Sponsored by Vital Wealth Music by Cephas Audio, video, and show notes produced by www.podcastabundace.com Research and copywriting by Victoria O'Brien    

Liquidity, market shifts, and risk return —what do they mean for your investment portfolio? Get the answers today! On the latest Vital Strategies Podcast episode, host Patrick Lonergan welcomes Kevin Smith, CFA, for a deep dive into building a resilient investment portfolio. Kevin brings his top-tier industry expertise to discuss liquidity, time frames, tax implications, and risk management. The conversation explores the positives and negatives of various investment opportunities, emphasizing the importance of strategic portfolio structuring for favorable outcomes. Kevin’s wealth of experience provides listeners with a deeper understanding of investment portfolio design and risk considerations. Whether you're a seasoned investor or just starting, this episode offers valuable insights that can positively impact your financial decisions. Don't miss out on this opportunity to enhance your approach to investments. Key takeaways: Strategic Portfolio Structuring Proactive Corrections Navigation Turning Securities into Cash Resources: 2024 Planning Resources Read the Transcript Submit questions to the podcast Credits: Sponsored by Vital Wealth Music by Cephas Produced by BrightBell Creative Research and copywriting by Victoria O'Brien