The Cardiologist is not a Chiropractor

The Paul Truesdell Podcast

Truesdell Wealth, Inc.
Casual Breakfast Conversations No Cost or Obligation

In-Person / November 11h
No Commission Real Estate
Stone Creek Golf Club - The Grille

In-Person / November 12th
True Estate Documents
Stone Creek Golf Club - The Grille

In-Person / December 11h
Death Taxes & True Estate Documents
Stone Creek Golf Club - The Grille

Online & On-Demand
Additional Engagements - Posted on Sunday, October 13th
Reservations available by calling 352-612-1000 or the CONTACT FORM
( https://truesdellwealth.com/contact )

0:00
There's a couple of things I'm not going to talk about, not going to do it, not in any way, shape or form. I've had a lot of people who have asked me in the past, Paul, why don't you maybe do an audio book or write a book about financial planning? Not going to do it. Not going to do it. Here's the thing. I don't get paid to teach people the things that they should know, a lot of the things that people should know they should have learned in high school and by the time you graduated college. And I'm not going to go back and talk about what it means to be employed, how you've got to develop a skill set that makes you employable to other people, how you're trading your time for money, and basically you're a voluntary slave. I'm not going to talk about how to get benefits. I'm not going to go and talk about independent contractors, total compensations, how you go through a job search. If that's important, then we'll talk about it. That's what advice is all about.

0:57
Welcome to the Paul Truesdale podcast, rather than two Pauls in a pod, this episode features Paul the elder, and thus just one Paul in a pod. So what's the gig? Individually or collectively, Paul and Paul sit down and chat predominantly at the Truesdell professional building and record frequently. They explain a few things about how life works before time gets away, they connect the dots and plot the knots, spots and ops with a heavy dose of knocks, mocks, pots, rocks, socks and mops. Confused, then welcome aboard. You see Paul the elder and Paul the younger enjoy telling complex stories that are always based on business, economics and forecasting, while having fun laughing and being among like minded men, women and children from Earth, Pluto, Jupiter and Neptune, individually and jointly, Paul the elder and Paul the younger, coupled with Team Truesdell, have been there and done it. If you enjoy front porch philosophers who take deep dives and connect the dots while drinking coffee during the day and a whiskey after five. Welcome. It is a true pleasure to have you on board. This is the Paul Truesdale podcast.

2:12
You know, let's talk about taxation, income taxes, estate taxes, capital gains, unemployment benefits, employee rights. I'm not going to talk about those things. Not going to do it. We're it. We can talk about entrepreneurship, how what it takes to become an entrepreneur. But the reality is, if you really want to know about how to do that, you pick up the phone, you call me, we'll have a conversation. There is no such thing as a free lunch. If you want a free lunch, go buy a book and do the research yourself what it means to have real compensation when you're an entrepreneur, income, the different business entities and types you can go into, how you do pre tax spending, how you can you need to understand your markets or resources and well, what if you just buy an existing business? You know, some people want to sit down and have me explain to them the importance of having a, you know, education beyond high school, you know, career alignment, expectation and earnings, vocational training, military service, higher education, financial aid, student debt. Teach me. Teach me. Teach me. No, no, those things are all online. It's been done before. There's no need to do it. What you're looking for someone to say, Dude, I really want you to explain to me what you think about this and give me some advice, because I respect you. Then that's what I'm there for. Otherwise, go out and knock yourself out. Why you should have an emergency fund, why you need to have planned savings. How much money should you have saved? And how should you save it? Yeah, I can talk about that, one to one. I'll talk about spending, key concepts related to spending or opportunity costs, the different modes of spending. I'll talk about charity, how charity should really begin at home, how you balance and reconcile books. I'm not going to do that. That's what your accountant should do. How to be a savvy consumer? Well, yeah, sometimes you need to be savvy. Sometimes you you you drop money on things because you're buying influence. Understanding economics, one thing is I'm not going to do is tell people about how to get out of debt. God, I'm not going to do that. Why? Because it's a waste of my time. It's a waste of your time. If you haven't learned the fact that you can't have debt when you're retired, you've got to be out of debt as much as possible in life. Well, bless your sweet little heart. You know, we can talk all about, you know, interest rates, amortizations, bank loans, merchant loans, credit cards. Oh, credit cards. We can talk about payday loans, predatory lending. I'm not going to do that. I will tell you that you need to keep on top of your credit score. It's a joke. You've got to, you got to fiddle fart around with it. But you know, it is what it is.

4:55
But when you have some big bets on big ideas, I can talk about those not big. Buys. Oh, you're going to buy a car, you're going to finance a car, you're going to get a home. Oh, I can talk to you a lot about that. I can talk you off the cliff on a lot of things. You see, the things that I know how to do is to ask questions, who, what, where, when, how, why, and the one that everybody seems to miss is which, yeah, I can do that. I can go through all the different things because it's an investigation. I have the skill set to ask the questions that will help you understand and clarify what you're really looking to do. And that's the thing people don't do, especially retirees. When they move to Florida, lot of times, the wife wants one thing, the husband wants something else, not really in line with what they want, and it causes some real problems. Okay, spending money you shouldn't be spending on stupid things. My gosh, I can tell you, there's a community in Ocala, Florida. It's called JB ranch. The number of people who have bought brand new homes, who have them for sale within one year because it wasn't quite the police, they thought, well, no kidding. Well, there's not many things to do here. Yeah, it's a smaller community. It's it has a particular mindset. There's a the type of person that lives here is different from the people living on on top of the world, or on Stone Creek or oak run, or in the villages in stone crest. You know, there's Each place has its own flavor, different from, for example, Marion landing and Cherrywood. We understand all of those in area. So, you know, go knock yourself out and spend your money. And yeah, good luck with that, because it is what it is. Okay when it comes to investing, financial markets, how when to buy and sell? Real estate investing, oh, modern investing techniques, cryptocurrency and all that. Not going to get into that. Those are conversations that I have one to one with people. But a lot of the investing things, yeah, those things are available online for you to get whenever you want, because it's not worth my time or years to go over the same thing over and over. People ask questions. My clients, the good ones. I have no bad clients right now, not a single solitary one. They ask questions. They ask, What do you think is going to happen on taxes?...