Wealth Building DNA

Faith is not always enough to Save the Day: sometimes re-evaluating how we approach things is necessary.

 

There is a famous saying: if it’s not broke, don’t fix it. Sounds logical doesn’t it?! However, when applied to our finances or business success that point of view can sometimes lead to complacency. That, as anyone knows, can spell out a slow and painful death of all we have worked hard to achieve.

 

People are so busy that they don’t take time to look around them and really notice what is happening to their financial health, life, money, retirement, assets, and taxes!

 

 Looking outside of our current list of advisors can sometimes yield unexpected results. In addition, if we begin to edge a little further out and explore some new ways of thinking or approaching an old subject something amazing can happen. We can find that what we needed was sitting here all along.

 

You want advisers that have a VESTED interested in your financial health and are in it to win it with a win / win playing field.

 

I have a long term friend of mine, whom I consider family, has elderly parents with failing health, the bills have been piling up, and their attorney has instructed them to keep their assets in their names, and let their children fight over the assets upon their death. Why do you think that is?? It is simply because the attorney will earn more money for himself by letting the assets go through probate upon their deaths, and then the heirs will be left with not only the pain of losing their parents, but the pain of paying the estate taxes, probate tax, and losing the things that they grew up with.

 

How to turn that corner is often the hardest step to make. It means acknowledging that what has worked so well in our wealth building journey for so long no longer has the horsepower to work. It means acknowledging that our financial education is a little rusty, and our long-held goal of financial independence is slowly slipping away,

 

In fact, financial freedom may have completely gone off the tracks. Avoidance of this fact is easy in the short term. Unfortunately in the long term, it will mean that our retirement has often been eaten up by shoring up our current situation or our hard won assets are now at risk.  Not such a pretty picture is it.

 

However, there is a point of view – a skill set – available to everyone who believes their family, business, retirement, assets, tax planning and every other aspect of their lives is worth protecting. It is when you recognize that you need help and that help can come in the form of an advisor or wealth building coach.  If you think of any successful sports person or team, wealthy person or business you know they have at least one top-notch coach they can depend upon.  You can have the same level of commitment as well.

 

Try looking around for the coach (and their approach) that will work best for you. Look at their references, past track record and important information that backs up all their claims. For instance, if they talk about saving money on taxes: just how much have they saved and can they prove it? How do they protect assets? What is their proposal for long term financial health for you and your family? Is it customized to YOU personally? Is it able to be implemented? Will your advisers be able to support it, and does the IRC and laws of the nation we live in support it?! All of these things are very important when choosing the right wealth building coach for you.

And now I would like to invite you to claim your Free CD at www.masterywealthtips.com From Gabby Huguenin, – A Wealth Builder, Accredited Investor, in Northern Idaho 
www.wealthbuildingdna.com

You can talk live with Gabby and Tim McGilberry CPA by calling 888-888-3612 or email: gabbysupport@gmail.com or support@wealthclasses.com

 

 

Hey friends!

I want you to hear what a professional in the financial services field thinks about our programs!

"I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It's amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn't have done it without you. Thanks again."
-- Lynne H, CPA

Have a prosperous day!

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching LLC
888-888-3612

Watch my Podcast below on tax planning high income people should think about and then think about these two very powerful quotes!


Here's a quote from one of my wealth coaching clients...


And finally, watch this short financial education video(or better known as my financial wealth Podcast :-) ) and learn to think like a banker! Then, join me in our FREE 8 Week Wealth Training Program.



Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.

Learn more about our Connector Coaching calls and start taking all your legal tax deductions today!


Have a prosperous day.

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you are planning for retirement, looking at saving tax money, or just trying to create a new plan for total financial freedom, call me! There is no charge for your initial consultation.

Small Business Tax Deductions - The year is coming to an end. Do you know where your deductions are? Whether you work from home, the car or the beach, you have a lot of small business deductions you have earned!

I’ve talked a lot about the tax benefits of having a small business to protect your assets and to reduce your taxes. If you’re new to the idea of starting your own business, we should talk. But first, as part of any wealth building strategy, I recommend you do a little homework.

Here’s some good foundational information that the U.S. Gov supplies about starting a business. Follow the link at the end for more info.

Business Expenses
 
Small Business Expenses and Tax Deductions
Guidance for the Self-Employed and Sole Proprietors

There are two basic tax concepts new business owners need to add to their vocabulary: business expenses and capital expenses.

Business expenses are the cost of conducting a trade or business. These expenses are common costs of doing business, and are usually tax deductible if your business is for profit. For example, costs of renting a storefront, business travel, and paying employees are all deductible business expenses.

Capital expenses are the costs of purchasing specific assets, such as property or equipment, that usually have a life of a year or more and increase the quality and quantity of products and services. For example, if you own a landscaping business and you purchase mowers and excavating equipment, these costs are capital expenses and do not qualify as deductible business expenses. However, you can recover the money you spent on capital expenses through depreciation, amortization, or depletion. These recovery methods allow you to deduct part of your cost each year. In this way, you are able to recover your capital expenses over time.

Figuring business expenses vs. capital expenses is not always clear cut. Consider taking advantage of free tax training opportunities offered by the IRS. If you have hired an accountant, you should also seek his or her advice regarding tax deductions.

The following information provides a brief overview of expenses that quality as tax deductions, with links to resources that provide clear guidance on deducting and capitalizing your expenses... For more: http://www.business.gov/finance/taxes/business-income/tax-deductions.html


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

Here's a free gift for you: Sign up for our free eight week Wealth Building Secrets program that you can take from home. No cost, no obligation. Just 8 weeks of wealth building tips, money making ideas, tax saving strategies and new ways of thinking about wealth, money, and prosperity. There’s no obligation and you can get start right now!

Hey Doctors! Thanks for the calls this weekend on my post about tax planning high income solutions for the medical professional. Asset protection for clinics, hospitals, and doctors is a very hot topic right now. Any tax planning needs to include a strategy for protecting your assets from those pocketbook preditors!

Review this video Podcast I did a few months ago about the tax planning techniques for doctors and dentists and double check your financial thinking!



Have a healthy and wealthy day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you're facing some tax challenges, cash flow issues, or need solid asset protection strategies give me a call! We have a number of powerful wealth building programs to help you in the process of building financial freedom.

Tax planning for doctors is all too often put at the end of the long list of to do's for fast-moving professionals. Part of any physician's wealth building strategy needs to include personal advisors, wealth coaches, and industry specific legal and financial experts. I believe it is very important to learn all you can about wealth building strategies but that doesn’t mean you have to know everything and do everything yourself.

Nobody becomes wealthy without a team effort. Athletes don’t get to the Olympics without a great coach, students don’t graduate from medical school without great professors, bosses can’t do their job without great assistants and people don’t become wealthy without a wealth team.

Raymond Aaron, founder of “The Monthly Mentor” once said, "If you don’t have an assistant, you are one."

Tax Planning for Doctors - in 30 Seconds?
High net worth tax planning is not exclusive to doctors and it is not something you should do on your own.  Financial advice for doctors shouldn’t come from the 30-second money making tips on tonight’s nightly news. So, whether you are a doctor, dentist or any other professional too busy to slow down and plan, ask yourself, these three questions:

• Who is on my wealth team and how qualified are they?
• Who should I be removing from and/or adding to my wealth team?
• What can I do today to improve this team?
  • Have clear goals that they all understand
  • Have regularly scheduled communications with clear agendas
  • Make sure expectations of performance and measures are crystal clear

If you are fortunate enough to be generating significant income but realize that you are paying way too much in taxes maybe this is the time to enhance your financial team with a wealth coach and a team of advisors to help you find legitimate business tax write offs and new ways to keep more of your hard earned cash in your pocket.

And finally, here's a few words from one of my wealth coaching clients...

"I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It's amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn't have done it without you. Thanks again."

-- Lynne H, CPA


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If tax planning techniques bore you or intimidate you and small business tax deductions just aren’t your thing, then maybe it’s time to expand your wealth team. Find out how our wealth coaching programs can make setting up a small business or maximizing a mature one much more profitable. I’ve saved my clients nearly 14 million dollars in tax dollars in recent years. Feel free to give me a call!

Traditional retirement planners don’t always like what I have to say but that’s what I’m here for… to get people to think a little deeper, a little harder before they make financial decisions. For example, I don’t put a lot of stock in the stock market.  It’s tied to a win-lose relationship and a lot of retirement strategies are built around this model. But hey, if it’s working for you then go for it but there are better ways to plan for retirement with built in safety and security features that will let you sleep nicely at night.

Unfortunately 98% of people in America at age 65 are far from financially self sustaining, able to live out rest of lives with what they have in their retirement accounts. My goal, is to switch that number and have 98% of us in full control of our estates, legacies and our destiny. I referenced the 401 k article in Time magazine recently and I’m still thinking a lot about it. Here’s the problem.

It wasn’t until the last few years that people started seeing that giving blind faith to financial advisors was not the best ideas in the world. Even if they appeared to be wildly successful, you know like… Prisoner # 2523 aka – Bernie Madoff.

Tax Planning Techniques - First, Dump Your 401(k)?
If you’re contributing to your 401(k) and the company is also providing some significant benefit like “matching,” then maybe it’s okay. If not, then you might want to get with your CPA, tax attorney or other trusted advisor and take a hard look at your retirement plan. The problem is often unnoticeable until the day you actually retire. If the stock market happens to be in the toilet around the start of your retirement, you’re screwed. You can’t go back, you can speed it up, you take what you get when you take it.

Here are two things to do to protect yourself from this retirement nightmare so many people have been going through lately.

1.    Evaluate your 401(k) right now. Get a hard-nosed assessment of what it’s worth, where it’s invested, and where it is guaranteed to be at your ideal retirement date.

2.    The problem with the first tip is that there is usually little “guarantee” in the typical 401(k) plan. So, tip number two is this. Look into insurance-backed products that allow you to insure or guarantee the stability of that retirement asset. This requires working with a knowledgeable and trusted life insurance agent that understands your goals.

Life Insurance as an Investment Tool
At this point many people think, “Oh, those agents are just in this for the commission!” Well we all need to get paid but the smart agent is the one who recognizes that when she helps you set up your own banking system (like we teach in our Infinite Wealth System workshops) YOU will have an INSURED retirement plan and she will have a long-term income stream because she is helping you retire rich!

If you want to know how to select the right agent or would like a referral, feel free to give me a call or drop me a note! And… do your homework and review that 401 k right away!


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest in tax planning courses, online investment classes, or planning your retirement, we have an individual wealth coaching program for you. There's no obligation to chat! Don't forget to sign up for our free wealth program - Wealth Principles Online.

Asset protection solutions are more important for certain types of businesses and individuals than others.  We all understand the value of insuring our homes, cars and lives but when things are going well it’s easy to forget about protecting yourself from the absurdity of pocketbook predators.  Don't let this craziness scare you because there is a solution. It's called Asset Protection Solutions!

There have been crazy cases where judges found a landlord liable for the alleged damages of another tenant’s cigarette smoke. Ridiculous awards have been made to plaintiffs for a wide variety of things that nobody in their right mind would believe is fair! I won’t waste any more time on the absurd, we all see the stories in the news so let’s just get down to protecting ourselves, our businesses and our assets with proper asset protection solutions.

Who’s at Risk?
Well, with more attorneys in this country than any place on the planet, if you’re an American, you’re at risk. But, if you’re in one of the following categories, you’re at higher risk:

• Architects
• Contractors
• Developers
• Engineers
• Physicians
• Dentists
• Medical Professionals
• Corporate Officers
• Financial Advisors
• Legal Advisors
• Real Estate Brokers/Agents
• Landlords
• Landlords
• Landlords

Oh, did I mention, landlords? It’s kind of funny in a sick kind of way. You work your tail off to find and purchase your first investment property. It takes you five years to get to positive cash flow. You net a couple hundred bucks a month and voila! You look like you’re a rich landlord with a big asset so you’re easy to spot and easy to sue! Ahhh, the joys of being a landlord.

A few weeks ago I did a post about the importance of getting all real estate out of your personal name and into appropriate operating entities that separate you from your assets and also allow you to fly a little more under the radar. Remember, if you cannot be found, you cannot be sued. Of course, you only do this in straightforward legal ways but it is possible to protect yourself better with a lower profile.

One of the asset protection solutions we teach our students in Wealth Classes Coaching is using LLCs, C corps or other entity to reduce your liability. We help our students find the state most favorable to their specific entity and then we incorporate all of these tactics into a long-term wealth building strategy that keeps the pocketbook predators at bay.

Effective asset protection solutions help to limit the ability of creditors to seize your assets or to even know where to find your assets. The typical attorney working for the plaintiff to attack your assets is going to do an asset search before she decides to take that person’s case. If there is nothing of value to be found, it’s harder for the predator to find a playmate!

If you want to learn more about asset protection solutions, give me a call for a no obligation phone consultation. Discover how my high net worth tax planning strategies and business tax write offs can put a little more cash in your pocket next year, call me for a free consultation. I sometimes joke about it but I really can spot significant tax savings opportunities for most people in a matter of minutes!

If your new to some of this wealth building talk and just want to get the basics, then you don't have to take some complicated tax planning course, just start right here with our free class called Wealth Principles Online.


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest is reducing tax payment, setting up a small business, or creating an effective asset protection strategy, we have an individual wealth coaching program for you. Just call me! Watch this video to learn 7 Tax Saving, Money Making Tips You Can Use Today!




Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.

Stephen Gandel, writer for Time Magazine recently did an article on “Why It’s Time to Retire the 401(k).”

Here’s part of what Stephen said…

“The ugly truth, though, is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves. In the past two years, that has become all too clear. From the end of 2007 to the end of March 2009, the average 401(k) balance fell 31%... In what must seem like a cruel joke to many, the accounts proved the most dangerous for those closest to retirement.”

Yup, he’s got some good points here but does he have a solution? The fact is, nearly half of all Americans have a 401(k). Some financial experts say most Americans don’t contribute as much as they could, thereby leaving free money (from the matching amount employers contribute) on the table. Although that may be true, in this economy I’m guessing some people who put their money somewhere besides a 401(k) are probably grateful they DIDN’T contribute to the max!

Planning for Retirement with 401(k)s
The sad thing about this retirement tool is that most people do not know how to use it properly. The average 401(k) is about $35,000 right now. Not exactly retirement utopia. And the irony is that every time we take our meds, get that surgery, and add a few more years to our lives we make our original retirement strategy a little weaker. The funds might run out before we do.

The 401(k) Solution
In his article, Gandel suggested something that my business partner, George Antone and I have been saying for a long time. He suggested insured accounts might offer part of the solution. George and I have been teaching for years that the proper combination of investments and the right type of life insurance instruments can create tax advantaged environments and make guaranteed returns a lot easier.

The ERISA Industry Committee (ERIC) is a group that represents our nation's largest employers. In Gandel’s article he states that they have proposed to the government, a system of exchanges that allows individuals the ability to buy a guaranteed retirement account on their own. And... I believe this type of retirement plan flexibility will require the use of insurance instruments to be effective.

When American’s stop counting on their employer or Uncle Sam to plan their future, they will finally see the benefits of long-term financial planning. There is a place for 401(k)s but that place is inside a solid, well thought out, wealth building strategy.

If you’re tired of depending on anyone else to plan your retirement, join us at our next Infinite Wealth System workshop and take charge of your financial future!
Here’s Stephen Gandal’s Time article.  

Learn more about our Connector Coaching calls and start taking all your legal tax deductions and planning a retirement strategy that will last as long as you do.


Have a prosperous day.

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you are planning for retirement, looking at saving tax money, or just trying to create a new plan for total financial freedom, call me! There is no charge for your initial consultation. Watch this video to learn how to grow your money in a tax advantaged environment:



Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.

Why doesn’t your CPA tell you about certain tax deductions? Maybe he's buried in paperwork. Maybe she would like to but doesn't want to take too many risks. Why don't CPAs tell you about those really unique tax deductions?

Some will some won’t! Most CPAs care about their clients and want to do a great job but the reality is, it’s your money and nobody is paying as close attention to your money as you are(or as close as you should be)! CPAs certainly will show you some tax deductions and make sure your tax returns are accurate. But they’ve got you and dozens or hundreds or thousands of other clients to think about at the same time.

The best way to get the most out of your CPA relationship is to be organized, detail oriented, and financially educated! I always say never count on any single financial advisor to know it all. At WealthClassesCoaching.com we believe it's important to create a wealth team.

And... you are the leader of that team. You are the one that needs to be challenging the thinking of your CPA. Ask why. Ask why not. Ask what if. Be careful here or you’ll spend a bunch of time getting an education from your CPA and a hefty bill at the end of the month. But put your CPA on the team. I believe “Teamwork makes the dream work!”

Help your CPA do a better job by learning everything you can about your money. It’s amazing how in just a couple hours a week how much you can learn and earn. Skip a few of those Seinfeld reruns or tonight’s episode of Dancing With the Stars and take our totally FREE home study course instead!

Challenge yourself to learn one new financial concept each week and in 52 weeks you have gained a ton of money making wealth building ideas!

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest is saving tax money, online investment classes, or planning your retirement, we have an individual wealth coaching program for you. Watch this video to see what people are saying about our classes and workshops.



Start your free wealth building program right now!  www.WealthPrinciplesOnline.com

Last Minute Tax Tips and a Free 8-Week Class to Boot!

The end of the year is closing fast and now is the time to get the tax deductions you deserve by knowing what information to share with your CPA. Here are a few year-end tax tips to consider right now.

Year-End Tax Solutions:
Read a few of these tax-saving, money making tips and I’ll give you a wonderful financial educational tool for absolutely free at the end of this post.

1.    If you might owe taxes…  review the list of potential deductions. Do you know what’s available? Diane Kennedy’s book, Tax Loopholes of the Rich has a great list.   Also, Jackson Hewitt Tax Service has a quick list of tax deductions for free that are often overlooked. Review these lists and look at where you spend money. Then bring this list to your CPA. I have a list of around 300 deductions that I use with my wealth coaching clients.

2.    Prepare for next year with a system… What is your wealth building strategy? What is your money management system? What is your process for building lifelong wealth? If you are shrugging your shoulders at these questions then you need a system. Our most popular workshop is called the Infinite Wealth System and it teaches you how to be your own banker, get paid like a banker and reduce risk like a banker. But first, you must start thinking like a banker. This workshop is quite powerful but don’t take my word for it, listen to some of the students.

3.    Create a Tax Advantaged Environment… What that means is that you should be doing everything legally available to maximize your tax advantages and minimize your tax liability. For example, There are four ways you can protect your income and your assets for a more joy filled retirement.

• Entity Structuring – set up an LLC, a C Corp, an S Corp or other legal business structure that will give you the greatest tax benefits and asset protection. You never want to hold real estate personally and LLCs are often great vehicles for protecting your investment and your family from legal hassles.

• Banking System – Utilize the proper life insurance products to establish a system of managing your cash flow and earning the interest on things you finance instead of paying interest to the bank or finance company.

• Self-Directed IRAs With Checkbook Control - A lot of peoples’ retirement accounts have taken a beating in the last year but there is a way to recover some and do better next year. Set up a checkbook controlled IRA and tie it into your banking system to maximize your earning power while reducing tax liability.

• Elite Family of Trusts – Trusts are powerful vehicles for creating long-term wealth and setting up a financial legacy.

4.    Tracking Software (Quicken, Quickbooks, etc.) There are many programs to choose from but the most important point I want to make is that if you don’t know where your money is going you won’t know where it went. Solid wealth building strategies require that you track your money well. If you’re not on a good financial management software program this is the ideal time to set it up so you can be ready for the new year and a fresh start.

Now… about that free gift. Sign up for our free eight week Wealth Building Secrets program that you can take from home. No cost, no obligation. Just 8 weeks of wealth building tips, money making ideas, tax saving strategies and new ways of thinking about wealth, money, and prosperity. There’s no obligation and you can start right now! 

To learn more about our wealth coaching programs, wealth building guides, or other financial education tools, drop me a note or give me a call!


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call! We have a number of powerful wealth building programs to help you in the process of building financial freedom.

Learn how your dog might be a legit tax deduction :-)
Home based business owners are leaving money on the table when they don't capitalize on their legitimate tax deductions. The most missed tax deductions are often around the home office. Here are some money saving tax deduction ideas that anyone working from home should know about.

Tax Deductions - The More You Know the More You Keep
Always check with your tax and/or financial adviser before making any changes to your taxes but in this Connector Coaching call I share examples of ways you can legally and safely reduce your taxes by taking approved tax deductions. Here's a snippit of a typical Monday night Connector Coaching call!



Tax Deductions - Home Offices Offer Many
This Podcast is an example of what we provide in our weekly wealth coaching calls. For example, you can't deduct your home as a residence. But...  If you meet the office rules requirements, you can deduct a portion of the home. The home office deduction is available only to the extent that your dwelling is used exclusively on a regular basis as one of the following - its either your principle place of business, a place of business that you use to meet and deal with patients, clients or customers in the course of normal trade of your business.

Some people think I'm strange but I love learning about tax deductions. Why? Well, it's money in my pocket and it allows me to teach people how to keep more of their hard-earned money.

Retirement planning and wealth building are easier when you have a wealth building strategy and a commitment to building financial freedom. And... reducing those taxes doesn't mean you need a second job or have to work harder it just means you need to be a little smarter with what you already have!

Now, to keep the legal beagles happy remember....

Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.

Learn more about our Connector Coaching calls and start taking all your legal tax deductions.


Have a prosperous day.

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you are planning for retirement, looking at saving tax money, or just trying to create a new plan for total financial freedom, call me! There is no charge for your initial consultation.

Does your plan for retirement include you being there, fit and fine? I got a lot of feedback from my students yesterday on a few of my simple wealth building, health building tips so I thought I would add a few more.

If you want to see your retirement planning efforts pay off then you've got to take care of yourself in the meantime! We always talk about estate planning, establishing asset protection strategies and creating wealth in a tax-advantaged environment but we don't always talk a lot about our health!

You need to be strong and healthy to enjoy the fruits of your financial labor! Here are a few more health tips/wealth tips that we all need to be practicing by the time the retirement planning process ends and the retirement living begins!

Breathe to Achieve!
Too many of us live on caffeine while operating on high stress and low energy but the truth is, you’ll achieve more when your stress level is low and your energy is high. By learning to calm your nerves with focused breathing throughout the day you’ll have more energy, a lot more fun, and maybe make a lot more mun!

•    Let go of stress before a meeting starts by asking everyone to take just a minute or two to close their eyes, relax, and concentrate on relaxed breathing. Do the same thing for yourself when you are alone and about to start the next project.

•    "Slow down and breathe" is not a metaphor. Actually slowing down and taking a few extra deep breaths every hour refreshes the mind and re-energizes the body.

•    Be aware of your breathing throughout the day and actually focus your breathing on "inhaling all that is good" and "exhaling all that is not."

Manage the Snack Attack
Snarf down some donuts and coffee and you’ll be flying high for an hour or two but unless you get another sugar fix soon, you’ll hit the wall hard! Having balanced energy throughout the day assures higher productivity, more pleasant communications, and a lot less stress! Here are some snacking tips to keep your energy up and the stress levels down:

•    A great snack in between meals is a combination of raw or dry roasted nuts (for protein) and some fresh fruit (for healthy carbohydrates and natural sugars). It might be an apple, walnuts and light cottage cheese or non-fat low-sugar yogurt.

•    Avoid so called energy bars on the market that boost energy with massive sugars, artery clogging fats, and excessive carbohydrates. Avoid snack bars that use sugar alcohols. Sugar alcohols are a major reason many people cannot stomach most energy bars on the market today.

•    Make sure your snacks are tasty and enjoyable. Keep healthy snack options convenient and available at all times so you make healthy choices. Carry only snacks that include a balance of high quality proteins, healthy fats, and energy enhancing carbohydrates. The best snacks are natural. Fruits, nuts, and veggies!

There is no time like the present to implement a plan for change! If you are planning your retirement and haven't included your health maintenance strategy, this might be a good day to start!

Wealth without health is not that much fun!

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888.888.3612

P.S. Total financial freedom doesn't have to be hard but it does take a little effort. But we've made it a lot easier with weekly classes, one on one wealth coaching and all kinds of audios, videos, and books to help you create your wealth building action plan. Have a question? Call me!

Any wealth building strategy should include a health building strategy. So here are a couple of wealth building tips based on health building tips.

Stress can take the health out of wealth real fast unless you learn how to manage it. Stress is linked to major diseases like cancer, heart failure, even arthritis! Now don’t go getting all stressed out over these nasty stats, there are some simple solutions you can do today to reduce your stress levels while you make your millions.

Stop pulling your hair out and read a little more. The best anti-aging program is a stress release program. And, since you're working so hard at creating your wealth building strategy I know you're going to want to be around a long time to spend all the money!

Here are three effective ways to lower your stress levels today!

Practice the 3-D’s!

The three D’s are: Do it, Dump it, or Delegate it. It’s not rocket science but it can be a lifesaver! Look at everything on your to-do list today with your 3-D glasses on!

• Do it – if you run across something that can be done in two minutes or less, just do it now and get it off your list. One less thing to stress about

• Dump it – Get brutal with the junk mail, email, and mindless tasks that waste time and energy. Get protective of your time and focus your energy to the most important tasks of your job or your personal life. Dump the stress that comes with doing things you really don’t want to or need to be doing.

• Delegate it- Leverage your time by letting others do what you’re not good at or committed to. Ask for help, develop support systems, but don’t do it alone! Share the love, the work, and the stress! If it's not an activity that is creating you money then you should't be doing it.

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
Connector Coaching Program

888-888-3612

Learn more about our wealth building programs. Whether you make $1,000 a month or $100,000 a month, we have a financial education program you can use to start building lifelong wealth. Visit my coaching site at www.WealthClassesCoaching.com or just call me!

First, a couple reminders. Nov 14 , 15, we're having IWS 2. This is our next level in the Infinite Wealth System. If you've been to another Infinite Wealth System workshop or taken our online course you are qualified to go to the next level of our wealth training programs. Visit www.wealthclasses.com and click on classes to learn more. 

One of the topics of our last Connector Coaching call is a critical part of any wealth building strategy. Term Sheets are legal documents that create a clear starting point for a business venture. Here is part of the definition from Wikipedia...

A term sheet is a bullet-point document outlining the material terms and conditions of a business agreement. After a Term Sheet has been "executed", it guides legal counsel in the preparation of a proposed "final agreement". It then guides, but is not necessarily binding, as the signatories negotiate, usually with legal counsel, the final terms of their agreement.

There are several major documents you need to be aware of before starting any company be it an LLC a C corp, a joint venture or whatever. You need to know what they are to keep yourself out of trouble and to make sure your business venture has a good shot at success.

There are a lot of legal issues around these documents and I'm not an attorney nor am I giving financial advice on this blog. All I want to emphasize today is that we just had a great educational call on term sheets and it reminded me of the power of planning.

The more time you put up front in the planning phase, the less time you'll need to get to the profitability phase. Term sheets are crucial so do your homework. If you want to learn more about starting your own business, launching a joint venture, or just reducing your taxes, find out how one of our wealth coaching programs can help!

Here's a Podcast video describing the various wealth coaching programs we offer.



Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call!

Here are a few more wealth building tips from my Connector Coaching call with Jim Britt!

Jim agreed with me that to build wealth in today’s economy, it’s a good idea to have a job to keep some form of revenue coming in while you look for ways to start your own business or leverage your money in tax advantaged ways.  Here are a few more highlights I've paraphrased from that Connector Coaching call interview with the very wealthy and very kind Jim Britt!

• When starting your business, don’t start desperate. Desperate people push investors away
• If the business plan says something about catching up on the pickup payments nobody will (nor should they) invest
• Opportunity stays far away from desperation
• Start your business to focus on giving others value not on all the money you are going to make. See things from the eyes of your customers. You’ll sleep better and you’ll ultimately make more money. If you focus on value, the money comes to you
• Network marketing is a way to start a business with little or no overhead. For around $500 there are tons of great businesses you can start. Choose a solid company with good people and a product that is leading the market. Something that is hot and cutting edge is best. Look for a category creator.
• Jim made hundreds of thousands from numerous network marketing companies and still gets residual checks many years later without much effort
• Most powerful thing you can do in business… build a network. Keep track of people, offer to help people. Be a resource to people and genuinely try to help others. That’s how you build a network of resources, allies, and friends. Your network is not just for raising money. Always be asking… “How may I help you?”
• Be responsible. Take responsibility for your life. The good, the bad, the ugly. Then do something about it. Don’t dwell on the past, just learn from it and move forward.

Finally, I asked Jim what he believed was the reason for Jim Britt’s success. He said it was this… “I always try to be the best I can be, notice I did not say to be the BEST but to be the best I can be. Not better than others, just better than I was the last time.”

Have a prosperous day.

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. For more wealth building tips, financial education tools, and financial education videos visit www.WealthClasses.com. If you don't have a wealth building strategy what is your strategy?

Building LIfelong Wealth is easier with mentors like Jim Britt.

I had a great conversation with the highly successful entrepreneur, master coach, and millionaire, Jim Britt on one of our recent connector calls. Jim shared some great insight about what it’s taken him to become a millionaire. If anyone understands the process of building lifelong wealth, it's Jim.

If you are looking for a wealth building mentor let Jim be your wealth building guide! He was a great interview and I've typed up some highlights from that call so you have a clue what we talk about in our wealth coaching calls. Here are a few of my notes and a 10-minute audio clip from the call.



Jim talked about how he went from having $9.00 in his pocket and going to 23 different banks to get financing for his first business opportunity. Once he found the money he launched his business only to find out it wasn’t working. He was feeling pretty down and out when the sheriff’s notice arrived and gave him five days to get out of his house.

That’s when he made a decision. He had already lost his home, his car, his furniture but he had not lost his will to succeed. Looking back, Jim told me there was one thing that has really helped him recover from that situation and go on to make millions in a variety of businesses. It’s called Decision.


Jim had no formal education but he somehow discovered that when a person makes a solid, clear, committed decision, there is very little that can stop you from succeeding. Shortly after Jim lost it all he started making 5,000 a month, then 10,000, then 20,000 and had made a cool million within the next year.  This is why I love wealth coaching. We get to learn directly from people who have done it! I interviewed Jim on our Connector Coaching call to show our Wealth Classes students how a successful person thinks and acts. Here are some of the points I have paraphrased from the wealth coaching call I did with Jim Britt.

• Even without formal education you can make millions if you are willing to make a decision
• True decisions, once made, are unshakable
• Make a decision to get healthy, get wealthy, or whatever you want and never look back
• The Laws of Attraction works best when we make a clear decision
• Static action - This means, many people go through motions and don’t take actions. Why? Because they didn’t make a clear decision to get started. Or they make a half-hearted decision that allows them to turn back if it doesn’t work out. This is not a decision: “Well, I’ll give it a try,” or “if it doesn’t happen in a week I’m out of here.” 
• Make a decision that doesn’t allow for anything less than success.
• Quit smoking, lose weight… make a decision to be the opposite of what you have/are.
• You will naturally take actions toward success once you make a decision.
• Opportunities are everywhere we just don’t recognize them until you make a decision.
• If you have a little fear, that’s okay, a little fear and a lot of determination can take you a long way. If you have a little fear of going back just make sure you have a lot more determination for going forward.
• Listen to your gut. When you think there is something wrong, there probably is. Believe in yourself.
• Look at what’s going to be hot. What are the new trends? What are the products that are really capturing the world’s attention? Can you visualize how those will be selling in a few years from now? 
• Look for opportunities that can make NOW money. What can you invest your time in to today (without giving up your day job) that you can grow on the side until it has enough revenue to replace that job you don’t like?
• Network marketing companies offer huge opportunity. Why? No overhead for you, they make and distribute the products you just go tell the story and get paid

We’ll talk more on Jim Britt’s success story in our next blog post!

Have a prosperous day.

Gabby Huguenin
Wealth Coach
Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

P.S. If you are planning for retirement, looking at saving tax money, or just trying to create a plan for total financial freedom, call me! There is no charge for your initial consultation.

To continue a few more ideas from our Monday night’s Connector Coaching call, here are a few more thoughts on the best legal entities to consider. There’s a lot more to know about the tax advantages and asset protection features of each of these but this will give you an overview of the pros and cons of each legal entity (Check out yesterday's post for more).

Limited Partnerships – In this legal structure the partners cannot be actively involved in the management of the business. It’s important to be realistic with this. If you’re the kind of person that has to have your voice heard and you can’t avoid getting involved, this structure is not for you. Limited means limited.

If you do get involved you can lose your status as a limited partner and that opens a whole different set of issues and defeats the original intent. All income coming into limited partnerships flows through to the members, the partnership does not pay taxes.

Family limited partnerships where members are family members have some unique tax advantages.  Family limited partnerships can be used to pass tangible assets that wouldn’t normally be found in a business such as jewelry, art, heirlooms, etc. to the next generation. In limited partnerships it’s a good idea to have separate CPAs, bookkeepers and administrative functions. Downside – these can be tough to sell and costly to set up.

S Corps or Subchapter S – This is a standard corporation that has elected a special tax status with the IRS. The basic information requirements are the same as a C corporation wherein formation documents must be filed with the state agencies and necessary filing fees paid, of course. The S corp is different from the C corp in that it does not suffer double taxation like the C corp. With an S corp the profits and losses pass through to the shareholders and must be reported on their individual tax returns.

S corps also have unlimited life extending beyond the illness or the death of its owners. Stock can be sold, business expenses may still be deductible, and ownership is relatively easy to transfer. Downside – The number of owners must be fewer than 100, they cannot be non-resident aliens and all income tax obligations flow through to the individual owners.

This is just some of the material we covered in my last coaching call. Learn how you can participate in an ongoing wealth building program. Connector Coaching Program 

Limited Liability Companies or LLCs.  An LLC is a cross between a limited partnership and a corporation. You can have more than one owner. You file a 1055 tax form to do your return. From asset protection standpoint an LLC has many tax benefits. With single member LLCs you can add an S election that allows you to run it as an S corporation to get some additional advantages. An LLC limits your legal liability. Like a C corp you are only personally responsible when there is gross negligence or fraud involved. So, don’t do anything stupid and your LLC will protect you and your assets just fine!

You can have as many members as you want and you can have foreign investors. This is great when you are trying to come up with additional capital and you need flexibility in how you have structured the business. Income and losses flow to members so there is no double taxation. Great for holding real estate.

You don’t have to have formal meeting minutes like a C corporation. An LLC may protect assets better than any other structure. If you do get sued, you usually cannot lose stock to new members taking over because the current members decide who gets stock. If creditors put a lien on your interest in an effort to get paid, they may be liable for a tax on that debt. Bad for creditors, good for the LLC.

Rules vary by state so check your local laws although most states allow LLCs. Downside – Some states require LLCs to terminate at 30 years or at the death of a member but there are ways around that when structured properly.

Corporations  or C corps. A lot of accountants underestimate the tax advantages of C corporations. One big advantage of a C corp is you can control the income and you can pick the fiscal year end. Most other entities are based on the calendar. If you have a huge income influx, you can make adjustments to offset tax liabilities. You can also do what is called upstreaming income – legally shift income from your LLC to your C corp. The C corp is great to use as a financial planning tool.

Bottom line - You have time with c corps, lots of deductions and you can take advantage of many fringe benefits with minimal restrictions. The downside- lots of paperwork and double tax. You are going to be taxed on the income you draw and on the income created by the corporation.

C corp requires planning but if you are expecting higher income a C corp could be good. Use an attorney to set this up.  Again, these are just general and condensed points to consider when setting up your new business or looking for legal and safe ways to building financial freedom. Always use professional financial, legal, and tax advisors.

Andddddd... just as importantly, learn for yourself how to take charge of your wealth building strategy. Join one of our wealth coaching programs or take one of our online seminars or live seminars or workshops. Nobody cares about your financial well being as much as you do! Please feel free to leave a comment or ask a question. Just click the comment button below this post.

Have a prosperous day!


Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
Connector Coaching Program

888-888-3612

Learn more about our wealth building programs. Whether you make $1,000 a month or $100,000 a month, we have a financial education program you can use to start building lifelong wealth. Visit my coaching site at www.WealthClassesCoaching.com or just call me!

We had a great call last night with my students who are working to discover new ways to grow and protect their wealth. Each Monday night during our Connector Coaching Program give specific wealth building ideas and actions to help build lifelong wealth.
Here are some of the points I shared last night about setting up the right type of entity structure to protect yourself and your assets.

Having the right legal entity structure does two very important things. 

1.  Tax Advantages - When set up properly the proper legal entity gives you significant tax advantages. This is what I mean when I talk about creating a tax-advantaged environment.

2. Asset protection – This is so important into today’s litigious society. When you have assets that everyone knows about, you are inviting others to come and get them! It is your legal right to protect what you have worked so hard to earn!

Here are some of the highlights from last night’s Connector call. Key points to remember:

1. The right entity structures separate you from your business. This keeps you and your assets apart so that if one or the other has any legal challenge, your entire financial system is not at risk.

2. Sole Proprietorships are great for startups because they are low cost, simple and still have some tax benefits. There are lots of tax deductions available to this entity. This might be a good structure for a very small business where a person is a freelance writer or a network marketing rep where there is really very little risk. Downside is – very risky if you get sued. Tip - Once you start to make over 60k or so find a more protective entity and have an attorney set it up properly. Another downside to this entity is that there are over 90 million lawsuits filed in the U.S. each year and sole proprietorships are quite vulnerable.

3. The Secretary of State in each state is where you can go to begin your business name search. This is just a starting point. Business names need to be registered in the state where they reside but you will also need to begin the trademark and registration process. Just because a business name is available on a local level doesn’t mean a larger corporation hasn’t registered the name nationally. Use an attorney on this.

4. LegalZoom.com and other similar services may be useful for legal documents when you have enough experience to know what to look for. For example: If you need an operating agreement for a new LLC you are setting up and you've done it before, LegalZoom might provide a starting point as a template to save you some time and money. But, be careful. Complicated entities require quality legal advice.

5. Real Estate – Never, ever put it in your own personal name. Always use an LLC or another entity but having real property in one’s name invites trouble. There is a lot of exposure in the real estate world so don’t risk it. No sole proprietorships in real estate.

6. General Partnerships – These are a little like sole proprietorships but require two or more partners. There are some benefits when you are fortunate enough to find a partner who is equally committed and capable of doing his/her share of the work (although that’s rare to find the perfect balance). Great for small business with clearly defined and divided responsibilities.

General partnerships can be easier to raise capital or get loans for a start up. Each partner files their own tax returns and all income and losses flow through to the individual partners. Downside – Some states require termination of the partnership when death, retirement, withdrawal, or resignation occurs.

There are ways around that but that’s fairly typical. More complicated than a sole proprietorship but there’s no double taxation that can occur in a c-corp. Exposure is high as all partners are responsible for the actions of the other partners. You better know your partner real well!

Tomorrow, I’ll get into additional entities such as LLCs, PLLCs, S - corps C – corps and more. If you want to join our weekly wealth building coaching program to learn how to grow and protect your financial future, drop me a note, give me a call, or visit my site for more info. Of course, all that said, the information I provide here is for educational purposes only so always get appropriate legal and accounting advice from professionals you trust.

Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612

By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call! We have a number of powerful wealth building programs to help you in the process of building financial freedom.