Get Smart With Your Money: Understanding Your Personal Balance Sheet w/ Greg O'Brien
Manage episode 354804135 series 2906188
Greg O’Brien has taught us a lot about money, specifically keeping money by being smart and proactive about your taxes. The biggest thing he has taught us is that the tax code isn’t a list of ways to take money from people, but actually the reverse: it’s a blueprint to building wealth. High level it tells us to start businesses and own investment real estate. So that’s what we did/do.
Greg walks us through our PERSONAL balance sheet, what an asset versus a liability is and how to think about growing our personal financials through assets as well as what are smart liabilities.
He gives us some insight into what he’s seeing his wealthy clients do right now and empowers us that a good CPA is a very valuable asset as you build your wealth as they can plan, save you money and help you build your financial nest egg.
If you are a 7 figure entrepreneur looking to reduce your taxes by 20% or more reach out to email@example.com.
Otherwise, check out their course which gives you the secret sauce on how to effectively tax PLAN http://Taxacademy.gotaxplanning.com
- [1:15] What are you grateful for right now in your life?
- [5:44] Tax code is the blueprint to wealth.
- [9:37] What is an asset vs liability?
- [18:00] Is cash an asset?
- [25:27] What are liabilities, and good vs bad debt.
- [30:05] What do you see wealthy people doing right now?
- [31:56] How to think about taxes.
- [33:56] Resources to improve financial literacy.
- [36:14] Invest in a CPA.
- [41:51] Stop thinking of taxes as a penalty.
To get more info and updates on the podcast
Follow our personal Instagram accounts
Check out our website for all things Getting Magnetic
Check out Big Dad Energy Co!