Think Generational Wealth

Amir Estimo

English
Welcome to the Think Generational Wealth podcast. Where I discuss current topics regarding generational wealth and personal finance. The goal of this podcast is to inspire you on beginning your journey of financial independence.

I grew up not being financially educated as mis padres (my parents) came to America in the early 1980's to escape the hardship in Haiti at the time. As many other millennials born to these parents, many of us were not educated pass beyond putting money in the bank in return would give you low return rates.

I made it my mission to study on how money works and actually implement what I have learned and hopefully inspire many others to begin their journey on financial freedom.

Spanish
Bienvenido al podcast Think Generational Wealth. Donde discuto temas de actualidad relacionados con la riqueza generacional y las finanzas personales. El objetivo de este episodio del podcast es inspirar a usted en el inicio de su viaje de independencia financiera.

Crecí sin educación financiera ya que mis padres vinieron a América a principios de 1980 para escapar de las dificultades en Haití en ese momento. Como muchos otros millennials nacidos de estos padres, muchos de nosotros no fuimos educados pasar más allá de poner dinero en el banco a cambio le daría bajas tasas de retorno.

Hice mi misión de estudiar sobre cómo funciona el dinero y en realidad poner en práctica lo que he aprendido y espero inspirar a muchos otros a comenzar su viaje en la libertad financiera.

Portuguese (Braizilan)
Bem-vindo ao podcast Think Generational Wealth. Nele, discuto tópicos atuais sobre riqueza geracional e finanças pessoais. O objetivo deste episódio do podcast é inspirá-lo a iniciar sua jornada de independência financeira.

Cresci sem educação financeira, pois meus pais vieram para os Estados Unidos no início da década de 1980 para escapar das dificuldades do Haiti na época. Assim como muitos outros millennials nascidos desses pais, muitos de nós não recebemos educação além do que colocar dinheiro no banco e, em troca, obter taxas de retorno baixas.

Tornei minha missão estudar como o dinheiro funciona e implementar de fato o que aprendi e, com sorte, inspirar muitas outras pessoas a iniciar sua jornada rumo à liberdade financeira.

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Episodes

Ep 112: Shielding Yourself from Inflation with Multiple Incomes
13-09-2023
Ep 112: Shielding Yourself from Inflation with Multiple Incomes
Imagine suddenly losing your job. The bills are piling up, the cost of healthcare is rocketing, and you're down to your last dime. Sounds terrifying, doesn't it? That's where the importance of multiple streams of income comes into play, and in this episode, we're exploring the crucial reasons why you need more than one income source. From job security to tackling rising healthcare costs, we're uncovering the top 10 reasons why having multiple income sources is no longer a luxury, but a necessity. Ever wondered how the wealthy do it? They diversify. As a salaried employee turned entrepreneur, I witnessed first-hand how multiple income streams accelerated my debt payment and increased my savings. I'll share my journey and provide tips on how to shield yourself from inflation, plan a travel fund, and enjoy the freedom of cash purchases. This episode is a deep-dive into financial literacy, mirroring my own experiences and offering practical suggestions. Taking control of your income is empowering. And that comes with financial stability which multiple income sources can provide. I'll share my insights from teaching to flipping houses and talk about how these income streams can diversify your portfolio and ensure financial freedom. This episode also takes a plunge into investment opportunities and how partnering with financial institutions can assist in wealth creation. Remember, fear is the only thing stopping you from achieving financial literacy and stability. So, let's conquer that fear together in this enlightening episode.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 111: The Essence of Prosperity: The Ins and Outs of 401Ks and IRAs
06-09-2023
Ep 111: The Essence of Prosperity: The Ins and Outs of 401Ks and IRAs
Who doesn't dream of a secure and prosperous future? The golden key to this dream is understanding the complexities of retirement plans – specifically, the differences between 401Ks and IRAs. Join me, your host Amir Estimo, as we journey back to the Revenue Act of 1978, the legislation that gave birth to the 401K and commenced the gradual replacement of the traditional pension system. Together, we'll scrutinize the pros and cons of pre and raw 401Ks, shedding light on how these contributions influence your taxable income and why it's crucial to your financial health.But that's not all! Venture further as we delve into the peculiarities of 401K and IRA investment limits, and the reason Roth IRA is hailed as a formidable investment account. This episode is a treasure trove not just about retirement accounts but about instilling disciplined investing and discovering strategies to decrease taxable income. Remember, a well-planned retirement is a happy retirement. So, let's arm ourselves with knowledge and start our journey towards a secure future. Consultation with a financial advisor is highly advised for personalized guidance but don't miss out on this episode that could potentially pave your way to wealth building!This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 110: Index Universal Life Insurance: The Untold Wealth Strategy
30-08-2023
Ep 110: Index Universal Life Insurance: The Untold Wealth Strategy
What if I told you, there's a financial strategy to maximize wealth, evade taxes, and shield yourself like the wealthy, would you be interested? Today, we crack open the vault on a secret tool that the affluent have been using for years - life insurance policies, especially an index universal life (IUL) policy. This isn't your typical talk about life insurance. I will not be delving into the morbid. Instead, I will be pulling back the curtain to show how it can be a powerful instrument to enhance your financial health and create generational wealth.Ever pondered how to protect yourself from the stock market crashes? Ever wondered how you could financially secure your dreams of real estate investments, starting a business, or even funding for education? Look no further as we unfold the benefits of an IUL policy, and how you can leverage it to become your own bank. I will cover the nitty-gritty of underpaying a policy, skipping premiums, and even what happens if you put in more than the allowed maximum fund. Just a little heads up, I am not financial advisor, but my aim is to arm you with knowledge so you can make informed decisions with a trusted professional. So, strap in and get ready to redefine your financial future with us today.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 109: Breaking Down the Path to Wealth: Insights from 'The Millionaire Fastlane'
23-08-2023
Ep 109: Breaking Down the Path to Wealth: Insights from 'The Millionaire Fastlane'
Ready to shatter the myth that job security leads to wealth? We're peeling back the layers on the road to riches as we dissect the wisdom from NJ DeMarco's book, "The Millionaire Fastlane". We're breaking down the three types of people defined in the book - the Sidewalk, living from paycheck to paycheck; the Slow Lane, wrongly equating a salaried job with wealth, and the Fastlane, who embodies the true essence of wealth creation. We also dare to challenge the perceived safety of 401ks and the stock market, and highlight the pivotal role of investment diversification. As we venture further, we illuminate the cornerstones of building a formidable business. Unravel the law of affection and its ties to wealth, illustrated through the lives of industry titans, Jeff Bezos and Elon Musk. Discover the power of investing time into forging a business and not just a job. Explore how societal conditioning has designed us to be consumers, not producers, and the ways to flip the script. Finally, grasp the potent value of nurturing a brand over just a business and why customer complaints are not signals of failure but opportunities for growth. This episode is charged with insights that could potentially redirect your financial path. So tune in, and brace yourself for a Fastlane journey!This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 107: Breaking Down the Student Loan Crisis in America
09-08-2023
Ep 107: Breaking Down the Student Loan Crisis in America
In recent years, student loan debt has become a gargantuan burden on millions of American borrowers, affecting not only individuals but the entire economy. Join us as we delve deep into the student loan crisis in America, exploring its causes, implications, and potential solutions.On this podcast episode, we aim to shed light on the ever-growing student loan crisis that is plaguing our nation. With skyrocketing tuition fees, limited financial aid options, and the mounting pressure to obtain a college education, many Americans find themselves trapped in a cycle of debt that often persists for decades.We will examine the root causes of this crisis. Together, we will delve into the factors contributing to the exponential rise in student loan debt, including the lack of regulation in higher education, the impact of for-profit colleges, and the societal pressure to attend prestigious institutions regardless of the cost.Additionally, we will explore the macroeconomic consequences of this crisis, such as reduced consumer spending and dampened economic growth.Taking a comprehensive approach, our podcast will then pivot towards exploring potential solutions. By dissecting current regulations and policies, we will evaluate their effectiveness in addressing the crisis and identify the need for reform. We will highlight various strategies proposed by economists, policymakers, and advocacy groups, such as income-driven repayment plans, loan forgiveness initiatives, and tuition-free college proposals.Furthermore, we will engage influential voices from academia, government, and student-led initiatives to gain insights into ongoing efforts to alleviate the burden on borrowers. We will provide a platform for discussions on how to improve financial education, increase transparency in loan processes, and create a more inclusive system that encourages access to higher education while reducing the burden of debt.Ultimately, this podcast aims to create a space for dialogue, understanding, and awareness surrounding the student loan crisis. By elevating voices from all sides of the issue, we hope to foster a deeper understanding of the complexities at play and inspire listeners to take action in their own lives, communities, and in advocating for change on a larger scale.Join us as we navigate the intricacies of the student loan crisis in America, empowering listeners to become informed participants in shaping a future where higher education is accessible without the looming specter of insurmountable debt. This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 106: Understanding the Differences: Home Equity Line of Credit vs Home Equity Loan
29-03-2023
Ep 106: Understanding the Differences: Home Equity Line of Credit vs Home Equity Loan
In this podcast, we will explore the differences and similarities between Home Equity Line of Credit (HELOC) and Home Equity Loans. We will discuss how each works, what are the benefits and drawbacks of each option.We will delve into the definitions of HELOC and Home Equity Loans and how they work; discussing their similarities and differences, including the interest rates, timelines for repayment, and differences in payment structures.I will share tips on how to determine whether a HELOC or Home Equity Loans is better suited based on the our financial priorities and goals. For example, a HELOC may be a better option for individuals that prefer flexibility with their draw down schedule and interest rates. Alternatively, a Home Equity Loan would be a better fit if stable rates and fixed payments are preferred by the borrower.We will discuss the eligibility requirements for getting approved for HELOC or Home Equity Loans, which may include credit scores, income verification, and meeting equity requirements. We also dive into the potential risks and benefits associated with each option.By the end of the episode, you will have an in-depth understanding of the differences between a HELOC and Home Equity Loan, and a clearer idea of which one of these options would be the better choice for your unique financial situation. Ultimately, this podcast aims to provide valuable information to empower listeners to make informed decisions when it comes to their home equity finances.DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. Whileit is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your ownresearch. I am just sharing my opinion.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 104: Teach Your Children to Audit Their Circle
08-03-2023
Ep 104: Teach Your Children to Audit Their Circle
Teaching children how to choose their friends wisely is an important life skill that parents should impart to their children. Teaching children to make wise choices when it comes to selecting their friends will help them find positive, supportive relationships in the future. Parents can use several methods to help their children build healthy relationships, such as role-playing, discussing reasons for why certain relationships may be beneficial or not and spending quality time together. When discussing friendships, it is important for parents to provide a safe environment where their children can share their thoughts and feelings without judgement. It is also important for parents to teach their children to look for qualities such as empathy, respect, loyalty and kindness in their friends. Parents should encourage children to trust their gut and to be aware of any signs of potential problems. They should also communicate with children about their expectations for maintaining healthy friendships. In addition, it is essential for parents to be a good role model for their children. Demonstrating qualities such as honesty, consideration and kindness will help set a good example for children. Finally, it is important for parents to remind their children that they don’t need to be accepted by everyone and that they are allowed to make mistakes. Ultimately, teaching children to think critically and choose their friends wisely will ensure that they build positive relationships that will last a lifetime.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.
Ep 103: Five Steps To Implement Today to avoid Credit Card Debt in 2023
23-02-2023
Ep 103: Five Steps To Implement Today to avoid Credit Card Debt in 2023
Credit card debt can be a real issue if not managed properly, it is essential for individuals to take certain measures to prevent it from piling up in 2023. Here are five steps that can help prevent credit card debt:1. Create a budget plan: The first step in preventing credit card debt is to create a budget plan. This will help individuals track their expenditures and account for their income. The budget should include essential expenses such as rent, groceries, and utilities, along with discretionary expenses such as entertainment and shopping.2. Pay off debts: Individuals should prioritize paying off any existing debts before taking on new ones. They can start by making minimum payments on all credit cards and paying extra on cards with high-interest rates until they are paid off.3. Use credit cards sparingly: Using a credit card can be tempting, but individuals should limit purchases to what they can afford to pay off at the end of the month. They should avoid using credit cards for everyday expenses and only use them for emergencies or for big-ticket items that they need to purchase.4. Monitor credit score: Reviewing credit reports regularly is important in keeping credit balances low. If a report has an error or fraud, individuals should inform credit bureaus right away. Lower score means higher interest rates on credit card loans.5. Increase Savings: Building an emergency fund to address unforeseen circumstances is important. Putting aside some money each month is a good habit to start for emergencies. Ultimately, preventing credit card debt in 2023 requires discipline, careful planning and monitoring. By following these steps, individuals can ensure that they do not find themselves overwhelmed by their credit card balances.Sign up for Credit Monitoring with IdentityQhttps://www.myscoreiq.com/get-fico-max.aspx?offercode=4321317Rhttps://www.identityiq.com/sc-securepreferred.aspx?offercode=431275ZBDISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. Whileit is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your ownresearch. I am just sharing my opinion.AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.