6 Killers of Family Wealth with Buddy Thomas

Meet my financial advisor Buddy Thomas. I don’t make any big financial moves without him. And today, I asked Buddy to share some of his incredible wisdom on the IMPACT Show. The key topic we are talking about today is “wealth.” Not just money, but that’s a big part of the discussion. We are also talking about body, mind, spiritual, and relational wealth.

Regardless of who you are, what you do, and where you are in life, this episode is packed with incredible wisdom, advice, and tips on how NOT to kill your family wealth.  

We will go deep on how you spend money, investments, purpose in life, taxes, bad advice, and avoiding distractions & burnout.  Heck, I even give away some of my top tips and secrets that the “Director of my family office” has coached me on and I share why having a “B.A.I.L.” team is essential to your wealth. So get ready to take notes and get ready to get “wealthy.”

Enjoy the show and please share it on your social media and be sure to tag us.

IG/Twitter:  @ToddDurkin 
Facebook:  @ToddDurkinFQ10 

More on the episode:

:10  – It’s All About Wealth
Todd introduces the “Director of his family office,” Buddy Thomas

4:42 – Where are Your Finances at Right Now? 
The Dangers and Opportunities

7:10 – The Blended Cocktail of Family Wealth

10:34 – The 6 Killers of Family Wealth
#1 Spend More Than You Make
#2 Bad Investment Policy
#3 Vague Purpose
#4 Overpaying Your Taxes
#5 Bad Advice
#6 Distractions and Burnout

21:13 – How to Generate More Revenue
Personal Capital is the Key to Financial Freedom

28:07 – Invest in yourself
If You Can Add Value You Can Make Money

29:40 – What’s in Your Buckets – Some of Todd’s Secrets

39:03  – Opportunities Exist in Today’s Market

43:17  – Deepen Your Purpose

47:33  – Overpaying Taxes

52:56 – Coordinate Your Bail Team

57:09  –  Real Talk on Burnout and Distractions

1:04:00 – Rapid Fire Questions for Buddy

1:06:32 – Financial Advice for Kids

1:08:56 – 80% of the Time the Husbands Die First!

Get Buddy’s book “The Coming Widow Boom” www.superplan.com/books

Be sure to go back to Episode 28 My Million Dollar Mentor and Episode #29 “Hell & Back” with my man Wayne Cotton!

About Buddy Thomas:

James F. Thomas, Jr. (Buddy) CFP, AEP 
President, Chief Planning Officer, Superior Planning

Buddy Thomas founded Superior Planning in 1982 to assist family leaders in protecting and growing their family wealth. Over the years, he has personally guided hundreds of families on their paths to realizing their vision and achieving their goals.

He is the creator of the Superplan, pioneering family wealth and relationship management system that presents all the information necessary for family leaders to make crucial decisions in one, up to date, easy to use format. 

As Chief Planning Officer of Superior Planning, Inc., a Registered Investment Advisor, Buddy is responsible for the strategic planning and implementation progress of each client’s family, as well as the firm’s operations and business development efforts. 

Visit the website for more on Buddy and Superior Planning:

www.superplan.com and to get Buddy’s book “The Coming Widow Boom” visit www.superplan.com/books

If you are a Trainer, Coach, or Fitness PRO looking for more guidance, coaching, accountability, feedback, and wisdom, I invite you to enroll in the Todd Durkin Mastermind program.

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About the Author

Todd Durkin, MA, is a world-renown trainer, coach, author and motivational keynote speaker who trains dozens of elite, high-profile NFL, MLB, and MMA athletes, including two Super Bowl MVPs, one NFL League MVP, Olympic gold medalists, Heisman Trophy winners, and MMA champions. Todd is a 2-Time Trainer of the Year, the 2017 Jack LaLanne Award recipient, the 2018 Canfitpro International Presenter of the Year, a member of the Under Armour Training Team, and a Top-100 Most Influential People in Health & Fitness.

Todd was a featured trainer on the popular TV show, NBC STRONG, which is now airing on Netflix. His award-winning gym, Fitness Quest 10 in San Diego, CA, is a Top-10 Gym in America, and his 3 best-selling books, Get Your Mind Right, The WOW BOOK, and The IMPACT Body Plan, have both changed thousands of people’s lives. If you would like to get motivated and inspired now, you can pick these books up at www.Amazon.com, or if you would like a signed copy, please purchase at www.ToddDurkin.com/
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IMPACT Show Podcast

Todd hosts the very successful, Todd Durkin IMPACT Show. This podcast exists for the purpose of motivating and inspiring people to live their best life, get their mind right, get their body right, and get their soul right. Check it out and subscribe today at www.todddurkin.com/podcast. We also have a part of the podcast where we take your Q&A, so please send us your questions through the weblink.

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Todd delivers riveting, energizing, and enlightening keynotes and motivational talks and would love the opportunity to fire-up your people. He provides motivational and educational programs and team-building events to companies and conferences worldwide, including Under Armour, Gatorade, The Ken Blanchard Companies, YPO, Wells Fargo, Bath & Body Works, Cal-a-Vie Resort & Spa, the Golden Door, IMG, USMA, UCSD, UBS Warburg, Quest Ventures, and Kaiser Permanente.
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