High Tower Great Lakes Wealth Management – Page 4

Episode 39 — Using Mastermind Groups to Leverage Your Success

By thewealthstreampodcast | June 26, 2020

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Whether you are a business owner, CEO, financial advisor, or perhaps all three, having a group of like-minded professionals that you can reach out to for support is crucial when it comes to your success.

In this episode of the Wealth Stream Podcast, Tim Scannell discusses the ins and outs of mastermind groups. You might be surprised to find that most successful entrepreneurs and advisors are strong advocates of these peer-to-peer mentoring groups.

In this episode, you will learn:

How to join a mastermind group
How to find the right group of like-minded professionals
About the benefits of belonging to a mastermind group
Why Tim prefers smaller mastermind groups
And more!

Tune in now to consider what you could gain by joining a mastermind group.

Resources: HighTower Great Lakes: (219) 246-5370

Episode 38: Advanced Planning with High Net-Worth Clients

By thewealthstreampodcast | June 24, 2020

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When it comes to life insurance as an asset, there are a number of ways you can utilize it for your benefit.

On this episode of The Wealth Stream Podcast Tim Scannell and special guest Kirk Hill give us the rundown on utilizing life insurance for advanced financial planning.

In this episode, you will learn:

Appropriate and inappropriate uses for life insurance
How investment in long term care has evolved
The best time to purchase insurance given the current circumstances
How low interest rates are affecting business during the current global situation
And more!

Join us to learn about advanced planning techniques and how changes in tax law and interest rates may affect you.

Resources: HighTower Great Lakes: (219) 246-5370

Episode 37 — Tax Avoidance vs. Tax Evasion

By thewealthstreampodcast | June 10, 2020

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Did you know that there is a way to avoid paying taxes that can help you to enhance your wealth and generate cash flow that is supported by the government?

In this episode of The Wealth Stream Podcast, Tim Scannell shares his insight into the world of tax planning, including tax avoidance. You’ll be surprised to know how much money you could potentially be saving.

In this episode, you will learn:

What tax avoidance is and how it differs from tax evasion
What an opportunity zone credit is
Why having a Roth IRA may be particularly beneficial for younger people
New tax laws and how those changes may affect you.
And much more!

Join us now to learn about tax avoidance and the ways you can utilize it to protect your wealth.

Resources: HighTower Great Lakes

Episode 36: The Importance of Understanding Your Value — Part Two

By thewealthstreampodcast | May 27, 2020

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As a business owner, it’s important to understand what drives the value of your business.

In this episode of the Wealth Stream Podcast, Tim Scannell returns with part two of his series on value drivers to share how to get the most out of your business when you exit.

In this episode, you will learn:

The final six value drivers to be aware of when exiting your business
Why having great internal management helps improve the overall value of your business
How having a proven growth strategy can help you once you’re ready to sell
Why business scalability drives value
And much more!

Join us now to learn about the different value drivers and how you can make sure you’re getting the most out of your money.

Resources: HighTower Great Lakes: (219) 246-5370 | Episode 35: The Importance of Understanding Your Value — Part 1

Episode 35: The Importance of Knowing Your Value — Part 1

By thewealthstreampodcast | May 13, 2020

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Do you know what drives the value of your business?

In part one of this miniseries, Tim Scannell explains what value drivers are, and shares how understanding them may be of benefit to you should you choose to sell your business.

In this episode, you will learn:

The first three value drivers to be aware of
Why making the business successful without you increases its value
Why having scalable and repeatable processes is crucial
And more!

Join us now to learn about value drivers and how they can help you get the most out of your business.

Resources: HighTower Great Lakes: (219) 246-5370

Episode 34 – 10 Questions Every Business Owner Should Be Asking

By thewealthstreampodcast | April 29, 2020

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What is your plan for retirement? Will you lock the doors and close your business on your last day? Have you considered a successor to carry on your legacy?

In this episode, Tim Scannell takes us through the top 10 questions as a business owner; your financial team should be asking you, especially as you move closer to retirement. You need to surround yourself with the right team that through advanced planning will ensure you get the most out of your years of blood sweat and tears from building your business.

In this episode, you will learn:

How to address things like wealth enhancement, wealth transfer, wealth protection and charitable giving
It is never too early to start thinking about your exit strategy
Do you know the actual value of your business
And more!

Tune in and learn what steps you can take to make sure you are taking a good look at your business and succession planning!

Resources: HighTower Great Lakes: (219) 246-5370

Episode 33 – Review Your Accounts The SECURE Act is Now Law!

By thewealthstreampodcast | April 15, 2020

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Have you considered what kind of impact the SECURE Act is having on your current financial plan?

In this episode, Tim Scannell discusses specific areas of the newly approved SECURE Act that may affect you and your portfolio. This is a timely and informative conversation that addresses four areas of concern: wealth enhancement, wealth transfer, wealth protection, and charitable giving.

In this episode, you will learn:

What the new requirements are for heirs of inherited IRAs
How and why a Roth may protect your wealth
Why Tim is focused on reviewings plans that involve dependents with special needs
What’s new for 529 plan contributors
And more!

Tune in for expert guidance on what actions to take in light of the changes brought on by the SECURE Act.

Resources: HighTower Great Lakes: (219) 246-5370 | 5 Wealth Management Challenges Facing Construction Industry Family-Owned Businesses

C11 case number 9433310

Episode 32 – Answering the Top Questions About Advanced Planning for Your Estate — With John Wiktor

By thewealthstreampodcast | April 1, 2020

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When you eventually pass on your estate to the next generation, do you know if your loved ones will be protected from creditors?

In this episode, Tim Scannell is joined by John Wiktor from HMB Legal Counsel to answer the most common questions about advanced planning for estates. Together, Tim and John share experiences and examples from the client accounts they mutually work on.

In this episode, you will learn:

What the threshold for the “death tax” is
How to make your asset transfer more meaningful
What to consider before moving to a no-income-tax state
The importance of having creditor protection
What the big advantage is to giving your kids money through a trust rather than as an outright gift
And more!

Tune in now to get the answers you’ve been looking for about advanced planning for your estate.

Resources: HighTower Great Lakes: (219) 246-5370 | John Wiktor’s Email | John Wiktor: (312) 242-3305

C11 number 9373206

Episode 31 – How to Be Tax-Efficient With Your Charitable Giving

By thewealthstreampodcast | March 18, 2020

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Are you hoping to give more to your favorite charities and save money in taxes at the same time?

In this episode, Tim Scannell uncovers strategies that may allow you and the recipients of your generosity to get the best bang for the buck. Contributing straight from your required minimum distribution (RMD) or even donating an asset are just two of the many options that you will hear about in this informative episode.

In this episode, you will learn:

About one of the most tax-efficient strategies you can do
How to use appreciated stock to avoid capital gains tax
At what age you can start making donations from your RMD
What features and tax strategies donor-advised funds offer
And more!

Tune in to learn tax-efficient strategies for your charitable giving. Think before you write that check!

Resources: HighTower Great Lakes: (219) 246-5370 | 5 Wealth Management Challenges Facing Construction Industry Family-Owned Businesses

Episode 30 – Exploring the Top Concerns of Commercial-Industry Business Owners

By thewealthstreampodcast | March 4, 2020

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Tim Scannell’s clients generally have five primary concerns around wealth preservation, wealth enhancement, wealth protection, charitable giving, and transferring wealth. As it turns out, business owners in the commercial industry are no exception.

In this episode, Tim Scannell shares the takeaways from his study that identifies the biggest concerns of family business owners in the commercial industry. In addition to interviewing the owners, Tim captures the perspective of children who work in these businesses as well as CPAs and an attorney. This conversation will give you insight into how these individuals are thinking about finances, what challenges they’re having, and what you can learn from them.

In this episode, you will learn:

About the rapidly changing aspects of the construction industry
How changes in technology are shifting how business is done
How to take advantage of CEO groups
What “role drift” is
The importance of working ON the business as well as IN the business
And more!

Tune in to hear the takeaways from Tim’s study about the biggest concerns of business owners in the commercial industry.

Resources: HighTower Great Lakes: (219) 246-5370 | White paper