Category Archives: Taxes

FEATURE

The Power of Real Estate Investing with Taylor Vick, CFA (Ep 44)

Finance, Taxes,

Real estate is one of the most popular forms of investment. It offers a variety of benefits, such as income generation, capital appreciation, tax efficiency, and diversification.

However, real estate investing also comes with its own challenges, such as finding the right properties, managing them effectively, and navigating the complex legal and financial aspects.

That is why investors must be well educated in this field in order to provide the proper guidance to their clients.

Greg DuPont sits down with Taylor Vick, Managing Director at Blue Ridge Asset Management, to explore the ins and outs of real estate investing. Taylor shares his expertise on various types of real estate investments and the benefits of using self-directed IRAs. He also covers strategies for leveraging tax benefits to enhance investment returns.

Taylor discusses:

  • The wealth-building potential and steady income real estate offers
  • The liquidity aspect of real estate investments
  • The tax advantages of real estate investment
  • Exploring asset management, 1031 exchanges, and diversification strategies for real estate investments
  • Insights on real estate deals in the current market with higher interest rates and strategies for future potential refinancing
  • Incorporating real estate into trusts for estate planning to transfer valuable assets and minimize estate taxes
  • And more!

Connect With Taylor Vick:

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About Our Guest:

Taylor Vick has pursued a passionate commitment to the real estate investment community in and around the upstate for decades. Obtaining his CFA (Chartered Financial Analyst) designation, Taylor continued to drive his passion for real estate investing at a high level pursuing the most advanced training, traveling the globe attending industry-leading conferences, and continuing to stay at the leading edge of the investment world each and every day. His tenacity for reaching industry-leading milestones for Blue Ridge has shown year after year, including an increasingly growing total of $150+ million in real estate funds managed.

As Principal and Managing Director, Taylor has a wide range of industry expertise and involvement including private company investments, acquisitions, commercial loans, agency debt, insurance company loans, non-recourse financings, 1031 exchanges, leases with purchase options, originating mortgage notes to buyers, receiving mortgage notes from sellers, contract assessments and equity cash-out refinancing among a variety of strategies that lead the industry in both performance and success.

Taylor’s success is not only driven by the impressive numbers, tenacity, and hunger to lead the industry but in the relational side of Blue Ridge. With an investor-first mindset, Taylor prioritizes investor relationships as the foundation of Blue Ridge’s advancement in the industry and the ever-growing investor client list is proof of his unwavering relational commitment.

You can also find Taylor involved heavily in supporting local community missions, organizations, and events as his local roots remain strong in supporting the upstate’s growth surge sustainably.

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FEATURE

Inside a Multigenerational Family-Owned Business with Don Kirkham (Ep. 40)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , , , ,

Family-owned businesses are beneficial to the economy in more ways than one, but there can be challenges along the way. Especially when there is a pandemic and a recession involved.

Overcoming these challenges and passing the business down from one generation to the next is no easy feat.

In this episode, Greg DuPont chats with Don Kirkham, vice president of Kirkham Building System, about what it’s like to work in a family-owned business that has passed through multiple generations. Additionally, Don explains what Kirkham Building System does regarding pole-framed construction and how the process works.

Don discusses:

  • A brief description of his background and what he does for his family’s business – Kirkham Building System
  • Why pole-framed construction is more cost-effective than traditional construction
  • How supply chain issues have affected the industry
  • Kirkham Building System’s costs and the process of working with them
  • How the National Frame Building Association can help you find the right builder in your jurisdiction
  • How their family business has passed through multiple generations and the benefits they have derived from it
  • And more!

Resources: 

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Connect with Don Kirkham:

About our guest:

Don Kirkham, is the fourth generation of Kirkhams to work in the post-frame building industry. Don started with his father’s company in 1991 working as a crewman in the summers. He remembers the hard work in the hot summers as a time of learning and great experience. He then worked his way up, learning all the facets of the trade. He served as a planner and sales representative while attending OSU. After college Don became the Sub-Contractor Coordinator and worked closely with General Foreman. He continued on and became General Foreman coordinating the efforts of the entire construction department. Don has also been the company Safety Officer. From 2008 to 2012 Don left the industry and became the Service Advisor for a successful Automotive Shop in Westerville, where he developed the personal fortitude to work closely with many customers. In October 2012, Don returned to KBSI to lead business development and proudly worked alongside his father to continue the tradition of quality and experience that is KBSI.

Don is an avid reader and believes personal development is essential. He continues his education through safety training, personal studies, seminars, and reading. Don lives in Powell, OH with his wife. His son and daughter also both work for KBSI.

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FEATURE

Transitioning Your Parents Into Assisted Living with Sarah Dixon (Ep. 39)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , , , ,

As our parents age, sometimes it’s necessary to find a place where their quality of life will be better.

Many difficulties can arise in this process, such as the financial part and the emotional conversations we need to have with them.

In this episode of Your Financial Advocate, Greg DuPont is joined by Sarah Dixon, community relations director at Bluebird Retirement Community, to talk about the transition from in-home care to an assisted facility and how we can have these tough conversations when it comes to helping our parents.

Sarah discusses:

  • Her background in healthcare and how she got introduced to the hospitality industry
  • The transition from working in large corporations to a privately owned business
  • The different ways families approach assisted living facilities
  • The different levels of assistance care 
  • The financial preparation needed before applying for an assisted care space
  • Things to consider when families are searching for facilities
  • A few details about Bluebird’s dementia care unit
  • How should conversations about transitioning to a specialized facility should be tackled
  • And more!

Resources: 

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Connect with Sarah Dixon:

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FEATURE

How To Pay for College with Ann Garcia, CFP® (Ep.38)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , , ,

Education is an essential part of life and college is a necessity for most of us to build a successful career.

Hence, families should prepare financially for the process of applying to college and not wait until the last minute.

In this episode of Your Financial Advocate, Greg DuPont chats with Ann Garcia, author of How to Pay for College, about different ways to save for college and important things to know while financing tuition payments as we are on the verge of FAFSA season. 

Ann discusses:

  • What motivated her to write the book: How to Pay for College 
  • A brief overview of the financial aid process
  • Her tips for families who don’t know how to start the process of college
  • Why open a 529 plan and contribute to it constantly.
  • Why approximately a quarter of students are not applying for any financial aid
  • The college planning process information you can find on her website
  • The importance of parents being involved in the entire education process of their children
  • And more!

Resources: 

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Connect with Ann Garcia:

About Our Guest:

Ann Garcia is a CFP® and owner of Independent Progressive Advisors, a fee-only Registered Investment Advisor in Portland, Oregon, and the author of How to Pay for College and The College Financial Lady blog. Her blog has approximately 15,000 subscribers in various media. In addition, she is regularly in national media (New York Times, US News & World Report) on college planning. She earned a BA from the University of California.

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FEATURE

Preparing Yourself to be Financially Ready for Elderly Care (Ep.34)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , ,

52% of people turning 65 are going to need some type of long term care over their lifetime. Aging parents is something many of us are going to have to deal with at some point in our lives. 

In this episode, Greg DuPont talks about how important it is to start budgeting for your future healthcare costs and figuring out how your parents can budget for theirs. With the right planning, you can make this inevitable journey a lot smoother.

Greg discusses:

  • The nationwide average cost of elderly care per month
  • The difference between long term care and assisted living
  • How many retirees end up with dementia or some health issue
  • Strategies to help you save on long term care in the future
  • And more!

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FEATURE

Understanding the Historical Trends of the Markets (Ep.33)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , ,

Do you believe that history tends to repeat itself? The markets have been down recently and if it is anything like the past, it could be down for a while.

In this episode, Greg DuPont goes back as far as 1897 to explain how the markets have been working and how trends tend to repeat themselves. In order to improve at what we do, we have to learn from the past to avoid the same mistakes. 

Greg discusses:

  • The history and trends of the market
  • The Shiller PE ratio and the S&P 500 
  • Who is going to be affected by the markets the most
  • Is the market going to continue to decrease
  • And more!

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FEATURE

Real Estate Market Opportunities Right Now! Part 2 With Richard Davis. (Ep.32)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , ,

In the previous episode, we talked about some challenges real estate investors may face as well as the opportunities for them.

In this episode, Richard Davis is back to dig into more specifics about real estate. If you are currently looking for additional sources of income, tune in today for some tips and tricks you can use to start earning with these opportunities in real estate.

Richard discusses:

  • Niches to add to your real estate portfolio
  • The major opportunity in real estate with baby boomers
  • The future of modular buildings 
  • Running a part-time Airbnb 
  • And more!

Resources: 

Free copy of Get The Most Money For Your Real Estate Investment by Rick Davis

Connect with Gregory DuPont:

Connect with Richard Davis

About our guest:

Rick Davis is an experienced Real Estate Agent, Commercial Builder, New Home Builder and Insurance Adjuster, licensed and experienced in commercial and residential real estate sales construction and restoration. He was first licensed in Real Estate in 1972, then in Construction in 1976.  He is licensed in Pennsylvania, Maryland and Florida.

 

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FEATURE

Real Estate Market Opportunities Right Now! With Richard Davis (Ep.31)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , ,

With real estate at all time highs, what kind of opportunities are there available to make the most out of it?

In this episode, Greg DuPont is joined by Richard Davis, an expert in what is happening in the real estate industry currently. He explains how you can make the most of the housing industry when it comes to figuring out if you should sell, buy, or rent your house/properties and the best ways to do it.

Greg discusses:

  • The opportunities for individual investors in real estate
  • The problems with interest rates and inflation when purchasing a home
  • Why a cap rate is important in real estate investing and what it means
  • Finding deals with housing auctions
  • And more!

Resources: 

Free copy of Get The Most Money For Your Real Estate Investment by Rick Davis

Connect with Gregory DuPont:

Connect with Richard Davis

About our guest:

Rick Davis is an experienced Real Estate Agent, Commercial Builder, New Home Builder and Insurance Adjuster. licensed and experienced in commercial and residential real estate sales construction and restoration. He was first licensed in Real Estate in 1972, then in Construction in 1976.  He is licensed in Pennsylvania, Maryland and Florida.

 

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FEATURE

The Upcoming Paradigm Shift in the Economy (Ep.30)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , , ,

Are we headed towards stormy seas when it comes to inflation and the economy? 

In this episode, Greg DuPont talks about why he believes there are some big changes that are going to happen to our lives in the next 10 – 20 years. With new technology, we can expect a longer life span, and with that comes many more possibilities we did not think possible.

Greg discusses:

  • The economic, demographic, and sociological changes on the horizon
  • Whether cash is the safest investment right now
  • What retiring later may be able to do for you
  • The opportunities available in the next few years
  • And more!

Resources: 

Book: Life Force by Tony Robbins

Connect with Gregory DuPont:



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FEATURE

Things You Should Know Before a Recession (Ep.29)

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , ,

Have you had to cut back on your daily spending recently? With inflation increasing rapidly and interest rates rising, our purchasing power is quickly decreasing.

In this episode, Greg DuPont is joined by Kirk Chisholm to talk about why a recession is happening. You may want to put your money into stocks or cryptos to avoid losing to inflation, but is that a good idea during a time like this?

Greg and Kirk discuss:

  • Predictions for economy growth in the foreseeable future
  • How your monthly payments could double with inflation
  • Is a recession happening?
  • Stocks vs Bonds vs Cash vs Gold during a recession
  • And more!

Resources: 

Money Tree Investing

Connect with Gregory DuPont:

Connect with Kirk Chisholm

About our guest: 

Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.

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