In this illuminating episode, we delve into the fascinating realm of human longevity with our esteemed guest, David Karow, President & CIO of Human Longevity, Inc. As our lifespans extend, we are faced with profound questions about how to optimize both our health and our financial well-being.

Join us as we explore the latest advancements in longevity science and how they are reshaping our understanding of aging. From cutting-edge genetic research to innovative health interventions, we uncover the keys to living longer, healthier lives.

But longevity isn't just about adding years to our lives—it's also about ensuring those years are filled with vitality and quality. We discuss the importance of proactive health management, personalized medicine, and preventive strategies to ward off age-related diseases and maximize wellness in our later years.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:39 - Conversations surrounding human longevity are becoming more popular

3:24 - Welcoming David to the show and an overview on longevity planning

7:15 - The benefits of taking a more proactive approach to your health

10:53 - Leveraging data to make very informed health and wealth decisions

15:38 - Longevity planning goes way beyond pills and treatment procedures

18:22 - Areas where we need to improve our current health care system

21:23 - How to get in touch with David and his team at Human Longevity, Inc.

23:25 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

How confident are you about what will happen to your assets—and your loved ones—after you’re gone?

On the latest installment of Advance Your Wealth, we’re looking at a truly important topic: your estate plan and whether it’s set up to get the results you want. In particular, we’ll be focusing on three main components of an estate plan that can potentially position most families for success.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:37 - Why this topic is becoming so important among investors and families

3:05 - The delicacy involved in estate planning efforts

4:24 - The three key areas of estate planning

5:23 - What makes a will a foundational piece of estate planning

6:51 - Navigating trusts and how they can impact a family's estate planning

9:52 - How to decide if a trust makes the most sense for you and your family

12:36 - The fiduciary you choose to work with on your estate plan

15:37 - Your estate plan can get out-of-date rather quickly

17:20 - How to get in touch with Homer and his team

19:20 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

When it comes to building, preserving and transferring wealth, it’s natural to look to the wealthiest among us for insights and actions we might adopt in our own efforts.

On the latest installment of Advance Your Wealth, we’re examining five personal finance lessons from the so-called Super Rich, those with a net worth of at least $500 million. The steps they take, and don’t take, may prove illuminating as you journey down the path toward your most important financial goals.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:29 - Homer's big-picture takeaway on how the Super Rich build their wealth

2:50 - Working with the best experts you can find

4:24 - How to identify top-tier professionals to work with

6:05 - Going beyond the numbers

7:58 - Recognizing the importance of negotiation

9:37 - Trust, but verify

11:17 - The importance of keeping your emotions in check

12:28 - Tips for staying logical during emotionally tough circumstances

13:54 - How to get in touch with Homer and his team

14:48 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

If you’re an entrepreneur, the idea of selling your business may have crossed your mind more than once. If you ultimately decide to sell your business, you’ll likely encounter two main types of buyers: financial and strategic. It’s a good idea to consider which type of buyer is the right one for you and your company.

On the latest episode of Advance Your Wealth, we’re exploring how these two categories of buyers could play an important part in how much you get for your company

Chapters:

0:00 - Introduction and overview on today's topic

1:18 - Understanding your options as a business owner

2:07 - An overview on financial buyers

3:12 - How the seller fits into the financial buyer's vision for the company

4:16 - How entrepreneurs typically encounter financial buyers

6:02 - The differences between a financial buyer and a strategic buyer

7:11 - How strategic buyers approach the buying process

9:24 - The different types of strategic buyers

10:31 - How to decide which type of buyer makes the most sense for your company

13:08 - Why would a strategic buyer make sense for you and your business?

15:21 - How to get in touch with Homer and his team for more information

16:40 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

Life is full of transitions. Plain and simple.

However, one of the biggest transitions a business owner can make in their lifetime is the transition out of their business. In many instances, they've worked decades to build up this business and there are a variety of personal, financial, and emotional considerations at play.

In the latest episode of Advance Your Wealth, Homer explores the key decisions a business owner is faced with during this major milestone in their life.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:01 - The major events in a business owner's life

3:55 - Transitioning to sell the business internally or externally

5:56 - I've sold my business. Now what?

8:57 - Transitioning family wealth to your heirs in a positive and strategic manner

12:17 - How to get in touch with Homer to discuss this topic individually

14:30 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

Many business owners are always looking to motivate their employees, generate better results and save themselves some taxes. On a prior episode, we discussed a retirement plan and succession tool called an employee stock ownership plan, or ESOP.

In today's discussion, we're diving deep into the tax considerations for business owners when utilizing an ESOP, and what you should be thinking about before initiating a program like this.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:50 - How an ESOP works and who it works best for

3:52 - Why an ESOP would be beneficial for a business from a tax perspective

6:47 - How an ESOP can benefit the business owner from a tax perspective

8:52 - A story covering a client that leveraged an ESOP for his business

12:58 - How to get in touch with Homer and his team

16:15 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

Selling a business that you’ve worked to build for years or decades comes with an enormous number of considerations—not the least of which is easing the tax burden that accompanies a big sale.

On the latest installment of Advance Your Wealth, we’re looking at five ways business owners who sell their companies might mitigate taxes.

Let’s dive in!

Chapters:

0:00 - Introduction and overview on the topic of the day

1:35 - The top-of-mind concerns for entrepreneurs selling their business

3:31 - Transferring assets regularly over time

5:20 - Section 1202 and the benefits of leveraging this approach

7:11 - How trust planning and charitable planning factors into the sale of a business

10:35 - Navigating gifting strategies prior to the sale of a business

12:56 - A big conversation with business owners after the business has been sold

16:54 - How life insurance solutions can add value

21:18 - Homer's one big takeaway!

23:31 - How to get in touch with Homer and his team

24:32 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website

Growing up is hard, especially in today's day and age. But when you add financial challenges, like the transfer of significant wealth from an older generation to their heirs, life can become overwhelming for today's youth.

On the latest episode of Advance Your Wealth, we sit down with Barry Garapedian, the visionary Founder & CEO of Mag 7 Consulting, a boutique coaching, mentoring, and advisory firm tailored specifically for high-school and college-aged students. In this conversation, Barry shares the remarkable journey of MAG 7 and how it has become a beacon for young individuals seeking to unlock their full potential.

Barry sheds light on the importance of mentorship and coaching during the crucial formative years. Gain insights into the methodologies employed by MAG 7 Consulting to nurture skills, foster resilience, and instill a mindset of success in the next generation.

Enjoy!

Timecodes:

0:06 - Introduction and overview on the topic of the episode

1:03 - The importance of long-term wealth planning within families

3:05 - Welcoming Barry Garapedian to the show!

3:55 - Barry's career pivot from wealth management to Mag 7 Consulting

6:41 - The greatest challenges facing today's youth

9:22 - Kids growing up in a wealth environment and the importance of instilling financial wisdom

12:37 - How Mag 7 actually works with today's youth

16:00 - Teaching clients the power of a handwritten note

17:45 - The responses Barry receives from parents of his clients

19:52 - The difference between an expectation and an agreement

23:50 - The 7 self-development lessons you never learned in school

26:48 - How to learn more about the work Barry does for clients through Mag 7 Consulting

28:02 - How to connect with Homer and his team

28:51 - Closing remarks

Connect with Homer Smith:

Facebook

LinkedIn

Website