Gary's Gulch

What’s one book that changed your perspective? What are the strategies that you picked up from that book? For Gary, one book that influenced his life is The Master Key System by Charles Haanel.

For today’s episode, Gary discusses the two paralyzing phrases for real estate investors that are being thrown around this week: Rate Hikes and Inflation. He takes a deep dive into The Master Key System too. Gary also gives a preview to the Master Key System virtual study group.

Highlights

• Why Gary likes the Master Key System. - 2:15
• Talking about the rising interest rate and how to keep it in perspective in respect to real estate investing. - 4:34
• Is it more risky to put in more money? - 7:08
• The IDEAL Investment acronym. - 8:54
• Who is Charles Haanel? - 10:22
• Items that Gary underlined. - 11:43
• When resistance hits, when obstacles appear, step back, calmly think “Okay, well that happened. What am I supposed to learn from this? Why was this placed here by my God?” - 14:27

Links and Resources from this Episode

• The Master Key System
• Connect with Gary Pinkerton
• https://www.paradigmlife.net/
• [email protected]
• https://garypinkerton.com/

After your death, is it your responsibility to leave everything, your money, and estate to your children?

In the third episode with Dave Zook, he discusses how he approaches building lasting legacy in his family. Additionally, Gary explains the difference between wills and inheritance and how the rich and the famous handle them. He also took some time to demystify trusts as a legacy tool and discuss advice Kim Butler has in her book Perpetual Wealth for discussing money with family.

Highlights

• Attending the Elevate Investor Conference. - 0:20
• What are they?: Wills and trust and how you can put them in place to be successful. - 3:16
• The two kinds of trust. - 9:30
• Are trusts good asset protection vehicles? - 12:03
• Difference between trusts and wills. - 13:01
• Believing Bill Gates and Warren Buffet: The goal of leaving your children with enough to do anything they’d like, but not nothing. - 17:25
• The greatest gift you can give your children is your own independence. - 19:33
• Having a casual and comfortable conversation with your children about money teaches them to be reasonable with their conversations. Not bragging and not making somebody else feel bad. It should not be forbidden to talk about money. - 21:56
• Is it fair for your children to distribute your money to charities? - 22:28
• Your family may or may not have a philanthropic focus. It is something to consider as charitable giving can do so much good, not only in the world but in your family as well. - 23:42
• Legacies go far beyond dollars and far beyond our lifetimes: Kim’s thoughts about preserving legacies in your family. - 26:01
• What wisdom and lessons learned can David pass along to the new generation? - 28:12
• Preparing his children to real-life, entrepreneurship, and capitalism: Raising teenagers that are capable and have the right mindset. 28:51
• Setting up milestones: Encouraging his children to have different goals that they want to achieve. - 31:26
• What five years from now will look like? - 32:59
• How people can reach Dave. - 33:39 Links and Resources from this Episode
• Perpetual Wealth by Kim Butler and Kate Phillips
• The Master Key System
• https://entrustedplanning.com/
• Connect with Gary Pinkerton
• https://www.paradigmlife.net/
• [email protected]
• https://garypinkerton.com/
• Connect with Dave Zook
• https://www.therealassetinvestor.com/
• [email protected]

Guns don’t kill people. People kill people.

Continuing with last episode’s topic, Gary clarifies his points on gun control and freedom. He also shares his thoughts on whether there should be a gun ban in America. Gary also talks about the power of wealth from the Master Key System. Then, he discusses his takeaways with the closing of Rich Dad’s CASHFLOW Quadrant final chapter with Craig Clifford.

Highlights

• The sad tragedy in Texas
• Is it the tool or the individual behind it?
• Should there be a ban on guns?
• What it means to have the freedom
• What wealth and capital mean
• What is Henry Flagler’s secret to success is
• What scientific thinking is
• The Power of Faith: Excerpts from Chapter 17 of the CASHFLOW Quadrant Links and Resources from this Episode
• Man's Search for Meaning
• The Master Key
• Rich Dad's CASHFLOW Quadrant
• Connect with Gary Pinkerton
• https://www.paradigmlife.net/
• [email protected]
• https://garypinkerton.com/

I took a few minutes with the CEO of Paradigm Life and my mentor, Patrick Donohoe, during a packed week of working with business owners at the Money Is Mastermind in FL to discuss new features we've released for our clients to help them grow the Agency and achieve their financial dreams.

Who’s the Guest? Patrick Donohoe founded Paradigm Life in 2007 and, like many during the 2008-2009 financial crisis, learned firsthand about the unpredictability of the business environment and economy. That period tested him but also shaped him. Amidst the struggle, he worked tirelessly, providing consultations and webinars to help people navigate the financial storm. This journey compelled Patrick to write “Heads I Win Tails You Lose – A Financial Strategy to Reignite the American Dream” in 2018.

Episode Highlights

• The 'Hierarchy of Wealth' and how it can help you monitor your finances
• How max-funded Whole Life can be used for loans, buying assets, etc
• A strategy to use life insurance as an asset replacement
• How the death benefit of a life insurance policy can be used while one is alive and help in achieving one's legacy
• The value of the cash component and guarantees in life insurance policies
• The various educational content available on the portal, including business strategy, personal finances, and the usage of life insurance in regards to real estate

Links and Resources from this Episode

• Connect with Gary Pinkerton
• https://www.paradigmlife.net/
• [email protected]
• https://garypinkerton.com/
• Connect with Patrick Donohoe
• https://clientportal.paradigmlife.net/signin
• https://www.linkedin.com/in/paradigmlife

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I describe two ways to look at using your current resources or advantages you have to pivot your personal life, your business, or both. First is reflection on Darren Hardy's recent Darren Daily episode on Time-Money-Wealth and using 2 of the 3 to obtain the other one. The second is similar and forms the backbone of our strategy at Paradigm Life: Cash Flow-Protection-Wealth. These three must all be in place in the end to ensure success, but you can use two of the three to achieve the desired result. However, history shows in most cases you cannot successfully use just one to get all three.

• Highlights
• Balancing life’s spinning plates.
• Periodic focus on different life priorities.
• Acknowledging the need for focus in business.
• Announcement of future in-person events.
• Key resources in life: time, money, skills.
• Darren Hardy’s point on resource management.
• Leveraging money and skills to save time.
• Personal anecdote: Being too business-focused.
• Example of hiring help to manage time.
• Transitioning topics to business strategy.
• Three financial keys: cash flow, protection, wealth.
• Time vs financial considerations in business.
• Importance of cash flow as the heartbeat of life.
• Cash flow’s role in avoiding poverty.
• Protection: Insurance and its critical role.
• Real-life examples of importance of protection.
• Leveraging insurance for financial stability.
• Strategic planning and asset management.
• Comprehensive financial statements for planning.
• Using Paradigm Life’s client portal for strategy.

Links and Resources from this Episode

• Connect with Gary Pinkerton
• https://www.paradigmlife.net/
• [email protected]
• https://garypinkerton.com/
• https://clientportal.paradigmlife.net/WealthView360

Review, Subscribe and Share If you like what you hear please leave a review by clicking here

Make sure you’re subscribed to the podcast so you get the latest episodes.

• Subscribe with Apple Podcasts
• Follow on Audible
• Subscribe with Listen Notes
• Subscribe with RSS