Transcript

[0:00] Wealth Tactic Rebels.

Ingenious Tactics to accumulate wealth, for people who see things different.

[0:19] Welcome to another discussion with wealth tactic Rebels the podcast for people who see things differently,

I'm your host Kevin Dumont and I've been thinking differently in the well field for well over 10 years.

Today we're joined by our co-host Brian. Hi there everybody Brian Dumont here, owner and manager of Dumont Wealth.

Happy to be here Kevin. Happy as always to have you Bri. Looking forward to our discussion today. And today we're going to talk about lifestyle.

[0:48] There's always a tension between our current lifestyle Desires and our future lifestyle reality,

we're very good at sending our own lifestyle ever upwards, no one wants to move back down the lifestyle staircase, so to speak, to a lower lifestyle.

So the Paramount question that arises today is a my spending my desired future lifestyle today.

[1:13] Today we will look at this concept of Lifestyle in the context of how much we make how much we save and where that might leave us in the future will explore the tension between current and future lifestyle,

and look at some honest ways to help evaluate where we're at because ultimately lifestyle is what we all dream of and dreams can sometimes become reality,

We work to make that happen.

[1:37] When we're trying to evaluate today's lifestyle versus our future lifestyle it's important to understand well potential.

So let's discuss with Brian a little bit about well potential what that means.

So what potential is a concept really that we can kind of used to hang our hat on when it comes to looking at our well rather looking at it on a monthly basis or an annual basis.

And I were often used to thinking about how much money we make or how much we have based on the current balance in our accounts.

[2:14] If you even pay attention to that and some people don't of course you know who you are.

Or how much we have of a regular flow of income on a monthly basis.

Or how much we have on an annual basis for instance when we file our taxes that's one way to look at it but the truth of the matter is well potential is a much larger concert it really looks at.

Over our lifetime what can we learn and what can we save like that is because,

once you do you can ask yourself is very important question and I didn't question is this if you knew your total life wealth potential.

Songs for example would you treat it differently than thinking about it in small pieces that's the question.

I don't know I don't know you know but when you look at something and you realize that really is an awful lot more than I thought you know if you think it well.

I only make X dollars.

[3:19] And you know it's not a big deal I can stand here and there it's just never going to head out to what I want anyway and I exercise with them.

And it looks for the first time perhaps at what they're doing.

Wealth and income potential leaders over their...