Shows
Wealth MavericksThe Truth About 529 Plans: Smart or Risky for High-Income Parents?Are 529 plans really the smartest way to save for your child's education—or are there better tools for high-income families? In this episode, Erin and Bob Wolf break down how 529s work, where they fall short, and why flexibility and wealth strategy matter more than cookie-cutter advice. Learn how to plan for your kids' future while building true generational wealth.Learn how we can help you: https://www.terrafirmaconsultant.com/The information in these videos is for informational and educational purposes only and should not be construed as tax, legal, or financial advice. Linked items ma...2025-07-2425 min
Wealth MavericksWhere Should Doctors Really Keep Their Money?This week on Wealth Mavericks, we break down where doctors should actually keep their money. Bob shares the powerful “3Ds” of tax-efficient wealth—deductions, depreciation, and distribution—and why the wealthy don’t park cash in savings. If you're sitting on a pile of money "just in case," this episode will change how you think. Learn how to put your dollars to work and build real long-term value.Learn how we can help you: https://www.terrafirmaconsultant.com/The information in these videos is for informational and educational purposes only and should not be construed as tax, le...2025-07-1731 min
Wealth MavericksFrom Freedom Road Map to Vision Realized: A Conversation with Todd DatheIn this special Wealth Mavericks episode, Erin and Joe sit down with Todd Dathe, whose story is proof that getting clear about what you want—and taking action—can transform your life. From feeling unworthy of big goals to buying his own plane almost to the day he predicted, Todd shares how defining his vision unlocked a new level of freedom, time, and purpose. If you’ve ever wondered whether you can build a life you love, this conversation will show you what’s possible.Learn how we can help you: https://www.terrafirmaconsultant.com/The info...2025-07-1046 min
Wealth MavericksFrom Overwhelmed to Empowered: A Practice Owner's PathIn this episode of Wealth Mavericks, Erin and Joe speak directly to practice owners who feel overwhelmed, alone, and buried by the weight of running their business. They discuss how Terra Firma supports doctors at a deeper level — helping them boost profitability, build stronger teams, and even prepare for a successful exit. If you’re a doctor with a practice, you don’t have to do this alone.Learn how we can help you: https://www.terrafirmaconsultant.com/The information in these videos is for informational and educational purposes only and should not be...2025-07-0318 min
Wealth MavericksRedefining Success on Your Terms: A Conversation with Dr. Nate SchneiderDr. Nate Schneider went from chiropractor to anesthesiologist—and now he’s building serious wealth as a Terra Firma member. In this episode, Nate shares the mindset behind his bold career pivot, how he avoids burnout, his favorite health habits, and what freedom really looks like when you take control of your time and money.Chapters: 00:00 – From Chiropractor to Anesthesiologist 02:30 – Making a Bold Career Pivot 05:00 – Overcoming Fear & Taking the Leap 07:30 – Staying Healthy & Avoiding Burnout 11:00 – Discovering Terra Firma & Taking Action 15:00 – Defining Financial Freedom & Wealth Goals 20:00 – Living the Five Tens Lifestyle2025-06-2637 min
Wealth MavericksYour Tax Return, Demystified — With Real Results to Prove ItMost doctors don’t realize what’s possible with strategic tax planning — until they see the results. In this episode, Erin and Joe walk through real tax returns and reveal how Terra Firma clients are saving six figures in taxes. From the discovery process to the final refund, you’ll see how clarity replaces confusion and strategy replaces stress.Learn how we can help you: https://www.terrafirmaconsultant.com/Chapters 00:00 – Intro: Real Tax Results 01:00 – Discovery vs. Actual Returns 04:30 – $176K Saved: Client Example 06:00 – Joe’s Tax Journey Before Terra Firma 09:40 – Teaching the Next Generation ...2025-06-1914 min
Wealth MavericksHey, Doc: Stop Believing These 5 Tax MythsIn this episode, we tackle the 5 most common tax planning misconceptions doctors face — and how they're keeping you from building real wealth. We break down why W-2 earners can still save big on taxes, why this isn't "too good to be true," why audit fears are often overblown, and why trying to do it all yourself may be costing you much more than you realize. If you're ready to break free from the limiting beliefs holding back your finances, this one's for you.Learn how we can help you: https://www.terrafirmaconsultant.com/The information in...2025-06-1243 min
Wealth MavericksIntentional Living for Physicians: A Conversation with Dr. Subrat KhanalIn this episode of Wealth Mavericks, Erin sits down with Dr. Subrat Khanal, a pulmonary and critical care physician, to discuss how he and his wife intentionally balance thriving medical careers, raising a family, building wealth, and prioritizing health. From developing financial freedom to mastering daily habits for longevity, Dr. Khanal shares practical insights on how to live intentionally and avoid burnout, even in high-stress professions.If you're a doctor seeking more time, freedom, and wealth, this one’s for you! Learn how we can help you: https://www.terrafirmaconsultant.com/ The...2025-06-0532 min
Wealth MavericksWealth Mavericks #73 - The Shocking Math Behind Your Monthly BillMost doctors don’t realize what their bills actually cost once taxes are factored in. A $5,000 mortgage? That’s nearly $8,000 in earned income if you're in a high tax bracket. In this episode, we unpack how taxes impact your everyday expenses—and what you can do to flip the equation. From thinking like a business owner to reworking your cash flow, we’re showing you how to reclaim your dollars and accelerate your wealth.Email us the word "clarity" and we’ll send you our full roadmap showing how to unlock your biggest financial questions. support@ter...2025-05-2922 min
Wealth MavericksPractice Owner Wakeup Call: Why Your Team Is Falling ShortIf you're a practice owner feeling frustrated with your staff—this episode is for you. We hear it all the time: team members falling short, complacency creeping in, and that dangerous "not my job" attitude. In this powerful conversation, we unpack why it all starts with you, the leader. From establishing clear expectations and core values, to hiring the right people and truly knowing your team, we lay out a practical roadmap for building a thriving, high-performance culture. Whether you’re facing resentment, burnout, or just want to elevate your practice, this episode will help you lead with...2025-05-2233 min
Wealth MavericksStop Rushing Your Taxes – Here’s a Smarter WayFiling an extension isn't a sign of being behind — it's a strategic move that gives high-earning doctors more peace and fewer mistakes. In this episode, Erin and Bob explain why extensions are standard at Terra Firma, how they help prevent costly errors, and why shifting your mindset around tax time is key to thinking like a business owner. Whether you're waiting on K-1s or just new to the process, this conversation brings clarity and calm to tax season.Learn how we can help you: https://www.terrafirmaconsultant.com/ The information in th...2025-05-1520 min
Wealth MavericksEmotion vs. Logic: What’s Driving Your Money Decisions?In this episode, we explore the emotional side of financial decision-making—the part no spreadsheet can measure. From the desire to be debt-free to the fear of letting go of cash savings, emotions often shape our money moves more than logic. We dive into how feelings like security, guilt, and joy play into major decisions like paying off a mortgage or building wealth. If you’ve ever felt stuck between what makes sense and what feels right, this conversation is for you.Learn how we can help you / book a call: https://www.terrafirmaconsultant.com/ T...2025-05-0816 min
Wealth MavericksThe Truth About Cash Value Life Insurance: Asset or Ripoff?Cash value life insurance gets a lot of mixed reviews—some call it brilliant, others say it’s a waste of money. In this episode, we break down how cash value life insurance can actually be a powerful wealth-building tool when used the right way. We explain where it fits into your financial plan, why it’s not one-size-fits-all, and how doctors like you can avoid common mistakes. Whether you're just starting out or already have a policy in place, this conversation will help you see life insurance through a smarter, strategic lens.Check out our epi...2025-05-0136 min
Wealth MavericksThe Smarter Way to Build an Emergency FundIn this episode, we challenge the traditional thinking around credit cards and emergency funds. Should you really keep six figures in cash earning next to nothing? Or is there a smarter way to access capital when you need it—without sabotaging your long-term wealth? We break down the mindset shift our members go through and show you how the wealthy leverage credit (without falling into debt traps). If you've ever wondered how much cash to keep on hand, or how credit cards can actually support your financial strategy, this one's for you.Asset Coach and Tax Strategist ep...2025-04-2427 min
Wealth MavericksPaying Off Your Mortgage: Smart Move or Mistake?Pay Off Your Mortgage or Invest Instead?For many doctors, being debt-free feels like the ultimate financial milestone. But is paying off your mortgage early actually the smartest move? In this episode, we break down when it makes financial sense, how your tax status changes everything, and why business owners and W-2 earners need to approach this decision differently. If you’ve got extra cash each month and aren’t sure whether to pay down your loan or grow your wealth elsewhere—this one's for you. Learn how we can help you: htt...2025-04-1722 min
Wealth MavericksCulture-Driven Success: Building a Team That WinsWhat’s the best job you’ve ever had—and what made it great? Chances are, it wasn’t about the paycheck, but the culture. In this episode of Wealth Mavericks, exploring how doctors and practice owners can build a thriving company culture that drives retention, joy, and long-term success. Whether you lead a team or are part of one, we share simple, actionable steps you can take to create clarity, connection, and purpose in your workplace. Culture doesn’t happen by accident—it’s built with vision, values, and intention. Learn how we can help you: https...2025-04-1017 min
Wealth MavericksNet Zero Tax: Real Strategy or Just Hype?This week, we're diving into one of our favorite topics: net zero tax liability. Most doctors think it’s impossible—but it’s not. In this episode, we break down how high-income physicians can use the tax code, business structures, and strategic investments to dramatically reduce (or even eliminate) their tax bill. We’re not talking loopholes—we’re talking real IRS-approved strategies that shift you from overpaying taxes to building wealth intentionally. Ready to stop writing six-figure checks to the IRS? Let’s talk. Learn how we can help you: https://www.terra...2025-04-0319 min
Wealth MavericksThe Hidden Costs of Defined Benefit Plans – What Doctors Must KnowAre Defined Benefit Plans the right move for doctors? In this episode of Wealth Mavericks, we break down how they work, their tax perks, and the risks most advisors don’t mention. Locking up capital and future tax surprises could cost you. Before committing, get the full picture and make a smarter retirement plan. Learn how we can help you: https://www.terrafirmaconsultant.com/ Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/Schedule some time with Erin: https://meetings.hubspot.com/nevicosi The inform...2025-03-2733 min
Wealth MavericksAre 401(k)s a Trap? Retirement Secrets for High-Income EarnersDoctors, are 401(k)s really the best way to save for retirement? In this episode, we break down the real rules behind 401(k)s, IRAs, Roth IRAs, and other retirement accounts—plus what high-income earners need to know about taxes, asset protection, and building wealth beyond the basics. If you've ever wondered "Am I saving the right way?" this one's for you.Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLearn how we can help you: https://www.terrafirmaconsultant.com/ The information in these videos is for i...2025-03-2045 min
Wealth MavericksThe Secret to Success? Being Purpose-BuiltSuccess isn’t random—it’s purpose-built. In this episode of Wealth Mavericks, we break down why clarity in values leads to better financial and business decisions. Whether you’re running a practice, growing wealth, or just trying to get your financial life in order, having a clear vision makes everything easier. Stop living in reactive mode and start building wealth with purpose.Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLearn how we can help you: https://www.terrafirmaconsultant.com/ The information in these video...2025-03-1323 min
Wealth MavericksGet Your Finances in Order: Simple Tips for DoctorsIf financial chaos is holding you back, this episode is for you! We break down simple, practical steps to get organized, reduce stress, and stop leaving money on the table. From setting up a tax box to tracking your assets, these easy habits can save you thousands and help you build peaceful, sustainable wealth. Stop procrastinating—take control of your financial life today.Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLearn how we can help you: https://www.terrafirmaconsultant.co...2025-03-0617 min
Wealth MavericksWhy the Rich Get Richer (And How You Can Too!)Why do the rich get richer? In this episode of Wealth Mavericks, we break down how the wealthy use the tax code, build productive assets, and make smarter financial moves to stay ahead—and how you can do the same. It’s not about working harder; it’s about making your money work for you. Ready to level up and stop leaving money on the table? Tune in now!Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLe...2025-02-2714 min
Wealth MavericksRisk vs. Reward: How to Assess & Mitigate Investment RisksWelcome back to Wealth Mavericks, where we help doctors build generational wealth!How much risk should you take when investing? In this episode, we break down the risk vs. reward equation and why higher risk doesn’t always mean higher returns. Learn how the wealthy mitigate risk strategically and why most investors make avoidable mistakes when assessing investments.🔹 How to identify & manage investment risk🔹 Why traditional risk assessments don’t tell the full story🔹 The “Swiss Cheese” approach to building wealth safely🚀 Want to grow your wealth while lowering risk? Book a Cash Flow Recovery...2025-02-2021 min
Wealth MavericksNavigating Accredited Investments: Mutual Funds vs. Private PlacementsIn this episode, Bob Wolf and Joe Arioto dive into the world of mutual funds and private placements for accredited investors. They break down the key differences, explaining how mutual funds pool investor money for diversified investments, while private placements offer more focused, less liquid opportunities. Discover why accredited investors have access to exclusive investments, and why understanding these options is crucial for building long-term wealth—especially for high-income professionals like doctors. Tune in for insights on how to navigate this complex financial world! Webpage Bob mentions in t...2025-02-1326 min
Wealth MavericksBuilding Purposeful Wealth: How Terra Firma’s Membership Helps Doctors Achieve Their Goals In this episode of Wealth Mavericks, Erin, Bob, and Joe break down what sets Terra Firma’s membership apart for doctors. We explore how our holistic, personalized approach to financial planning not only builds generational wealth but also slashes tax liabilities, helping you keep more of your hard-earned income. By connecting the dots across taxes, investments, insurance, and more, we offer strategies designed to provide clarity and control over your financial future. Our commitment to long-term relationships and proactive strategies means you can enjoy true peace of mind—knowing your financial plan is working as hard as you ar...2025-02-0624 min
Wealth MavericksActive vs. Passive Income: A Doctor’s Guide to Tax Savings and WealthIf you’re tired of overpaying taxes, this episode is for you! In this episode, we break down the difference between active and passive income, and why understanding both is crucial for doctors looking to save on taxes and build long-term wealth. From the complexities of the tax code to practical strategies for structuring your finances, we’ll show you how to navigate the system and make it work in your favor. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLe...2025-01-3028 min
Wealth MavericksStart Early, Save More: Tax Tips for Physicians and Business OwnersIn this episode, Bob, Joe and Erin discuss how proactive tax planning can transform the stress of tax season into peace of mind. They highlight the benefits of starting early in the year, including greater opportunities to save money and structure assets strategically. With insights tailored to physicians and business owners, this conversation dives into how thoughtful tax planning can reduce liabilities, maximize wealth, and break the cycle of last-minute tax chaos.Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosi...2025-01-2322 min
Wealth MavericksAre Your Assets Really Working for You? How to Make Every Dollar CountIn this episode, we dive deep into a crucial question for high-income professionals, especially doctors: Are your assets truly working for you? We explore how misaligned assets can lead to unnecessary taxes and inefficiencies, and how you can realign them to create long-term financial success. With real-life examples, we discuss common mistakes and provide strategies to ensure your assets are serving your bigger goals—whether that's minimizing taxes or growing your wealth. If you're earning more than you need and feel your assets might not be working as hard as they could be, this episode is for you...2025-01-1617 min
Wealth MavericksTrust and moving forward even after you’ve been burnedRebuilding trust after being burned can feel overwhelming, but it’s possible to move forward with confidence and clarity. In this episode, we explore how to reflect on past experiences without carrying the weight of mistrust into the future. Learn how to distinguish trustworthy relationships, release fear, and step boldly into new opportunities with faith and confidence. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLearn how we can help you: https://www.terrafirmaconsultant.com/ The...2025-01-0918 min
Wealth MavericksThe Road Less Traveled, Part 2: Bob’s Journey To Tax Planning Done DifferentlyToday we continue our conversation about forging a different path and doing things differently than the herd. Bob is a lived example of stepping off the path that most financial advisors and tax pros take and it led him to create Terra Firma. Tune in to hear Bob’s story and the steps he took to walk away from the heard and develop his own path. Doc you deserve a team that works as hard as you do and will never stop learning to better serve you. We promise, your current team isn’t doing that.Con...2025-01-0219 min
Wealth MavericksThe Road Less Traveled: A Fresh Approach to Saving on Taxes and Building WealthVenturing off the beaten path can feel daunting, especially when it comes to something as important as your finances. Many of our new members share the same hesitation: if nobody they know works with a tax strategist, why should they? In this episode, we’ll explore why separating from the herd can be a powerful move. Hear the story of how Bob saw the massive gap in tax planning for small and medium-sized business owners and chose to take a different route. And learn why stepping away from the norm can lead to far better outcomes.2024-12-2615 min
Wealth MavericksWhy Your CPA Falls Short (And What You Can Do About It) It’s a common frustration: you ask your CPA about a tax-saving strategy, only to be met with skepticism, resistance, or a downright no. If they’re the expert, why aren’t they helping you save more? In this episode, we tackle the disconnect between tax preparation and tax planning - and why your CPA may not be equipped to maximize your savings.Learn why most CPAs focus on filing taxes instead of strategizing to lower your tax liability and how this difference is costing you greatly. We’ll share why proactive tax planning is critical...2024-12-1926 min
Wealth MavericksOptimizing Your Practice for Maximum Growth and Future ValueRunning a successful medical practice takes more than excellent patient care—it requires strong business fundamentals, too. Unfortunately, many doctors were never taught these skills. In this episode, we’re diving into how we help our members not only save on taxes but also optimize their practices for peak performance. Discover the strategies we use to help doctors enhance efficiency, boost profitability, and increase the value of their business for a successful eventual exit. Whether you’re early in your career or thinking about succession, this episode will provide insights to help you build a thriving practice that’s...2024-12-1227 min
Wealth MavericksOffshore Accounts: What You Need To KnowIn this brief episode, we look at the facts around offshore accounts. Are they really the tax-saving solution they’re often made out to be? We explain what offshore accounts are, explore their perceived benefits, and highlight the risks and compliance headaches they can create. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosiLearn how we can help you: https://www.terrafirmaconsultant.com/ The information in these videos is for informational and educational purposes only and shoul...2024-12-0510 min
Wealth MavericksReal Estate Investing: Opportunities, Risks, and Tax BenefitsReal estate often comes up in conversations with our prospects, and for good reason—it’s a powerful tool for building wealth and reducing taxes through strategies like depreciation. But is real estate always the best fit for your financial goals? In this episode, we explore the different types of real estate investments and break down the pros and cons of each. Tune in to learn how real estate can fit into a comprehensive financial plan.Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin...2024-11-2826 min
Wealth MavericksFrom Scarcity to Abundance: Shaping Your Money Mindset as a DoctorAs a doctor, you start your career in a unique financial position—often with significant debt and compressed earning years. This can lead to a rush of big purchases once the paychecks start rolling in. But is your money mindset working for or against you?In this episode, we explore the difference between scarcity and abundance mindsets and why knowing where you stand on that spectrum is crucial. We discuss the importance of aligning your financial decisions with your goals and values, and how our Freedom Roadmap conversations can help you identify tangible goals to move confidently to...2024-11-2126 min
Wealth MavericksCrypto and Your Taxes: What You Need to KnowIn this episode, we unravel the often-overlooked tax implications of buying, selling, and holding cryptocurrency. While crypto has become a trendy and exciting asset class, it comes with unique tax challenges that could impact your financial health. Tune in to learn how crypto transactions affect your federal taxes, whether it’s the right investment for you, and what steps you can take to stay compliant and informed. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosi Learn how we can he...2024-11-1430 min
Wealth MavericksFacing Financial Fears: The Truth About Tax Savings and the IRSIn this episode, we dive into the powerful role fear plays in our financial decisions - especially around taxes. Many prospective members come to us wary of tax strategies, convinced that saving on taxes might be risky or even illegal. But here’s the truth: the IRS intentionally builds the tax code to help businesses thrive. We unpack the roots of this fear, how it holds us back, and why the unknown should be an invitation to learn rather than a barrier that holds us back. Join us as we discuss how to reframe skepticism, overcome hesitation, and...2024-11-0725 min
Wealth MavericksCutting Through the Noise: How to Know Where to Invest Your MoneyIn a world full of investment options - real estate, stocks, business ventures, etc. - it’s easy to get lost in the noise and wonder where to invest your money. In this episode, we explore why a tailored plan is crucial and how what works for one person may not work for another. We’ll discuss the value of asking questions (even the ones that might feel “dumb”) until you fully understand the investment at hand. Your financial future is worth the extra clarity. Join us as we break down the key elements of navigating today’s investmen...2024-10-3120 min
Wealth MavericksFuture Focused: Helping Doctors Create a Roadmap for SuccessIn this episode, we discuss the importance of “beginning with the end in mind” when it comes to your career or practice as a doctor. Having a clear vision for your future not only helps guide your decisions but also ensures that you’re working toward something meaningful. Without a plan, you risk reaching the end of your career realizing you don’t have enough or should have done things differently. We’re here to help doctors like you gain clarity on your goals and create a strategic plan to achieve them. Listen in as we explore w...2024-10-2426 min
Wealth MavericksStop Procrastinating: How a Year-Round Tax Strategy Saves You StressTax planning isn’t a once-a-year task—it’s a year-round, strategic process that goes far beyond just filing with a CPA. Many business owners and high-income earners procrastinate on their taxes because they feel overwhelmed by the mounting pressure leading up to deadlines. After each tax filing or quarterly payment, they may feel brief relief, only for the pressure to build again for the next deadline. With proactive, year-round tax planning, that cycle of stress is eliminated. Our members experience peace of mind, knowing they have a plan in place that reduces their tax burden...2024-10-1717 min
Wealth MavericksCash Flow Recovery: The First Step Toward Lowering Your TaxesIn this episode, we dive into the first step of our process, which we call our Cash Flow Recovery conversation. This powerful tool, developed by Terra Firma founder, Bob Wolf, gives you a clear estimate of what your true tax obligation should be.By reviewing your income and pinpointing your actual lifestyle expenses, we uncover the taxes you’re paying that you don’t need to be. Tune in to discover how we calculate your “fair share” of taxes and guide you toward paying only what you owe - and nothing more.Learn how we can help...2024-10-1018 min
Wealth MavericksIndecision is a Decision: The Hidden Costs of Waiting🔥 Tune in today for practical tips on how fast decisions can create big wins. We all settle for things that frustrate us - often without realizing it. But what if you could break free from indecision and start solving the problems that hold you back? In this episode, we dive into how to recognize the things you can change and find the courage to actually change them, especially when it comes to the pain of overpaying on taxes. We’re here to make that process simple, but it starts with one key action: deciding to move forward.2024-10-0321 min
Wealth MavericksReducing Audit Risk: Tax Planning Tips For DoctorsIt’s a question we get often: If I start paying less in taxes, won’t I get audited?It’s a natural fear, but it’s one that’s often unfounded, especially when you have a strategic tax plan in place, which includes reasoning and documentation behind everything within it.teJoin us for this episode and learn about the steps you can take to lower your risk of an audit. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosi...2024-09-2625 min
Wealth MavericksDefined Benefit Plans for Doctors: How to Know If One Is Right For YouIn this episode we look at the pros and cons of a Defined Benefit Plan for doctors. This strategy comes up a lot as a way to save on taxes, but whether it’s the best option for you depends on your unique situation. Listen in and learn how to assess whether it’s the right move for you.Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosiCheck out Bob’s other channel Asset Coach & Tax Strategist: https://www.yout...2024-09-1918 min
Wealth MavericksMore Of Your Top Questions AnsweredA few weeks ago we created an episode featuring our answers to the top 5 questions we get most often from prospective members - and it was a hit!Today we continue the Q&A with 5 more FAQs.We understand the natural skepticism that comes with considering a new financial team, and when following a different path you haven’t gone down before.The way we work and the strategies we recommend for our members are usually not what people are accustomed to, because they’ve never worked with a tax planner before. They’ve only...2024-09-1252 min
Wealth MavericksLife Changing Books: Our Top 10 Personal Development Must-ReadsIn today’s episode, Bob, Joe and Erin each share the top three personal development books that have had the biggest impact on them. Having read countless books over the years, it wasn’t easy narrowing it down - but they did it. Listen in as they share their top takeaways from each book. Whether you’re a seasoned reader or just starting your personal growth journey, you’re sure to find valuable insights and inspiration in their recommendations.Check out our must reads and purchase them here #ad : https://www.terrafirmaconsultant.com/must-reads/Connect...2024-09-0538 min
Wealth MavericksHigh Taxes Aren’t Inevitable: Lowering Your Taxes as a W2 Earning DoctorToday we talk about the steps that high-earning W2 doctors can take to dramatically lower their tax burden. If you’re a doctor who’s frustrated by your high tax bill, and your accountant has told you that there’s not much to be done, or if you think that those high taxes are simply inevitable as your success grows, you won’t want to miss this episode. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some time with Erin: https://meetings.hubspot.com/nevicosiBuy Bob’s new book Far...2024-08-2924 min
Wealth MavericksA Healthy Dose of Skepticism: Our Answers to Your Top 5 QuestionsToday we’re answering the 5 most common questions we get asked from prospective members. We understand the natural skepticism that comes with considering a new financial team, and when following a different path you haven’t gone down before.The way we work and the strategies we recommend for our members are usually not what people are accustomed to, because they’ve never worked with a tax planner before. They’ve only worked with an accountant - and tax strategy isn’t usually an area of specialty for them, since it’s not their job.Of course, i...2024-08-2243 min
Wealth MavericksAnalysis Paralysis: How to Make Faster, Smarter Decisions🔍 Today we share how you can improve your decision-making process and where we commonly see doctors struggle. More businesses struggle with indecision than bad decisions. Many high-performance people struggle with speed of implementation which is the speed at which someone can learn a new concept/opportunity and the speed at which they are able to make the decision and execute. Most people over analyze decisions and that process doesn’t serve you well. Today we go over what is your process for making decisions currently and how can we come up with a process to make de...2024-08-1519 min
Wealth MavericksWhy Doctors Need a Tax Strategist, Not Just an AccountantWhat makes Terra Firma different? That is usually the most common question that we hear. People are familiar with the title financial advisor, CPA, CFP, investment banker, etc. but are a little less familiar with the title we call ourselves which is an Asset coach and tax strategist. What does that mean? How did we come up with that? What is a Strategic Tax Plan? We have a lot of conversations with doctors and other business owners/high w2 earners and a majority of them have never heard this term before. Connect with Erin on Lin...2024-08-0822 min
Wealth MavericksLiving a 10/10 Life In the 5 Areas That Matter Most🔥 Join us as we share a powerful mental exercise that will help you live a 10/10 life.Today’s topic is about living the “Five Tens Lifestyle.” We’ve touched on this topic in a previous episode but want to take a deeper dive. The Five Tens is literally giving yourself a score 1-10 in five areas: Spiritual, Family, Business, Financial, Fitness. Joe breaks down the 5 categories and what they mean and how you should view them. Grab a pen and paper and give this exercise a try. This does not come from a judgmental place, this is a ti...2024-08-0119 min
Wealth MavericksYour fair share of taxes: What it is and why it mattersMost of the people we talk to feel like they are overpaying on their federal income tax yet every day we hear that the wealthy aren’t paying their fair share. Do you understand what your “fair share” is? We have conversations every day where we help doctors determine what is their fair share. You only need so much to fund your lifestyle and are left with what is left after that and taxes to fund your assets, and build your wealth. You are taking it as income which means you are getting 70%-80% of your income to work with...2024-07-2518 min
Wealth MavericksThe Importance of Self Development For DoctorsToday, Erin and Bob continue their conversation about managing high income and common mistakes when you make that leap. Today’s focus is on mindset. Bob and Erin share their experiences in sales and how that part of their career really helped them develop their mindset when it came to self-improvement and drive. Erin and Bob are both avid readers who love to expand their knowledge in their respective fields but also both love self-growth/improvement books.Doctors are so busy and susceptible to burnout and depression. Doctors work long hours which may lead to sacrificing their he...2024-07-1830 min
Wealth MavericksManaging High Income Part 2: Determining Reasonable Compensation as a DoctorToday Erin and Bob continue their conversation about managing high income and common mistakes made when you make that leap. For business owners we view the IRS differently than the norm. The IRS is our business partner and wants to see us succeed. When we succeed, we make more money and hire more people which means they get more tax revenue! The IRS uses vague terms on purpose. What is reasonable compensation and how is it determined? Does your CPA have a method to determine that number? You hired your CPA for a reason… To prepa...2024-07-1121 min
Wealth MavericksManaging High Income: Avoiding the Most Common Mistakes Doctors MakeToday Erin and Bob discuss the tax problem that is created when a doctor (or any high W2 earner) gets their first high income job. Today we share mistakes that doctors can avoid when this jump in income occurs. Erin shares an experience of hers where she had a really great year in her career and made a multiple six figure salary and the troubles that came along with the success. Bob has been helping doctors for 17+ years and shares a few important pieces of advice he’s gained from his experience. WAIT at least 1 year after get...2024-07-0417 min
Wealth MavericksCalm in The Clinic: Peaceful Living For DoctorsToday, Bob, Erin, and Joe all go through and define how they produce peace and contentment in their life when everything seems chaotic. Having hobbies outside of work that you enjoy to do is an important tip to staying content. Place yourself around similar minded people who will help you maintain positivity and productivity. Listen to today’s episode to hear more tips and tricks our team uses to maintain peace. We focus on five areas with ourselves and our members: Spiritual, family, business, financial and fitness. We call it living the 5 tens. The world is telling us...2024-06-2720 min
Wealth MavericksThe Truth About "Dumb Doctor Deals" and How to Protect YourselfToday we are discussing “dumb doctor deals”. Not just what they are but how to avoid the common pitfalls that most doctors tend to fall into. No, we aren’t calling you dumb doc. This is a real term in the financial industry used to describe doctors generally being bad at evaluating investment opportunities. Which to be fair, isn’t their job. A doctor’s job is to help take care of us and heal us. Why isn’t the financial industry doing the same for them? We have been serving doctors for 10+ years and helping them successfully navigate through thei...2024-06-2020 min
Wealth MavericksHealing the Healers: Tackling Doctor Burnout and Transforming Medical Practice CultureHey Doc. Start here if you want to improve your company culture, leadership ability, and avoid burnout. Today’s episode is about doctor burnout, practice culture, and leadership. Joe, Bob, and Erin all have a lot of experience working with doctors and have seen their practices inside an out. As a trusted coach, Joe has helped doctors like you go in and transform practice culture. In the episode he shares some tips on his step by step process in doing so. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/ Schedule some...2024-06-1320 min
Wealth MavericksWhy Doctors Need Collapsed-Time Frame Strategies to Build WealthOne of the single greatest contributors to frustrations for doctors building wealth is what we call compressed earning years. There is a period in every doctor’s life where a lot of your non-doctor friends graduate college and begin to start their corporate career. They start pouring into their 401ks and growing wealth while you still have years of student debt and education left. This causes a delay of wealth building for doctors. Which can cause a feeling of being behind and leaves you at risk for burnout when you do get started and try to catch up t...2024-06-0623 min
Wealth MavericksSpecialty Matters: Why You Need a Family Office ApproachIn today’s episode, we take a deeper dive on the conversation we had last week regarding your financial team. You don’t bring someone with a heart condition to a chiropractor and expect him to be able to diagnose the condition. That’s not his specialty! You need to see a cardiologist. This is the same way that you can’t just assume that your CPA or financial advisor are experts in all the different fields of finance. They aren’t! They are financial professionals that are working independently on your case without seeing the full picture beca...2024-05-3015 min
Wealth MavericksHitting the plateau: Why Most Doctors Have Outgrown Their Financial TeamMost doctors (and successful business owners) have outgrown their current financial team. You assemble your financial team over the years but it ends up being a team that works separately. Not having a financial team that works in unity and looks at the big picture together can really hinder your growth. We understand, once you get rolling in your business you just want to perform your role so you hire others to take care of the other tasks. Then you get busier and busier and it gets harder to replace these roles because it will be a speed bump...2024-05-2317 min
Wealth MavericksAvoid the pain of overreliance in your businessDon’t let one loss sink your ship One of the eight factors that impact the value of your company is something we refer to as “The Switzerland Structure,” which emphasizes the importance of business independence. It cautions against excessive reliance on any single entity, whether suppliers, employees, or customers. While many business owners recognize the risks associated with dependency on a high-profile customer or employee, the hazards of anchoring to a single supplier are often overlooked. The six ways overreliance cuts your businesses value: 1. Increased Risk Exposure2. Lack of D...2024-05-1624 min
Wealth MavericksThe Stages Of An Asset pt 2Last episode we gave a background of Bob’s experience working with clients and discovering the stages of an asset early in his financial career. We also covered Contribution, the first stage of an asset. Today’s episode starts off with Accumulation and goes over how different assets grow and are taxed differently. Having a plan is so crucial when it comes to your finances. No one asset is the solution to everyone’s needs. Everyone has different needs and it’s so important to go through it with an advisor and figure out what’s best for you. Next...2024-05-0919 min
Wealth MavericksThe Stages Of An AssetToday is our first episode where Erin Nevicosi joins the Wealth Mavericks. Erin shares her past work experience and why she joined Terra Firma. She is the newest Wealth Maverick and we are excited to have her joining us each week! What are the 4 stages of an asset? Bob traditionally has only discussed 3 stages of an asset but today he discusses a fourth. Bob came up with what he calls the stages of an asset through many years of experience and researching. Bob loves to read and has read hundreds of finance books over the years.2024-05-0213 min
Wealth MavericksThe Horse Called AssetDo you ever feel like you put the cart before the horse? This is a continuation of our episode aimed at helping Doctors find the right financial advice. One of the reasons we created the wealth Mavericks podcast was to help share information on the vastly complicated financial world. Part of our tagline is literally “Sharing the secrets the wealthy know to build generational wealth”. Through our many years of serving our clients we have come up with a bunch of good analogies that help simplify more complicated topics into digestible knowledge. Today we talk about the horse called asse...2024-04-2523 min
Wealth MavericksRich Doctor Poor Doctor: Avoiding Common Financial PitfallsBob shares his experience working with doctors throughout his financial career. Bob works with a lot of doctors in his current practice and understands their needs and how they operate.Doctors set out on their careers to help people and make a good living while doing so. So often a doctor doesn’t know what they are getting into when they begin their own practice. Physicians give up a decade of their life (earning potential) to get started in the field. This creates this feeling of being left behind, and a lot of the time, with a go...2024-04-1822 min
Wealth MavericksAsset Allocation For The Different Life StagesThere are a lot of opinions between all the different professionals in the industry. Advisors, Insurance Agents, CPA’s, Attorneys, etc... all have different advice when it comes to the topic of asset allocation. This creates a lot of confusion and anxiety when it comes to investing the money you will need later in life for retirement. Covered Topics:What is risk tolerance?What is your desired final outcome?What are the tax consequences of the different asset classes?Allocation & Diversification Subscribe on Youtube: https://www...2024-04-1123 min
Wealth MavericksEinstein's 8th Wonder: Compound Interest“Compound interest is the eighth wonder of the world. He who understands it earns it … he who doesn’t … pays it,” Albert Einstein famously said. Successful investors understand this one important investing principle. To truly understand this concept, Bob and Joe discuss the rule of 72, inflation, and simple interest vs compounding interest. How do these terms relate to business owners and the cash flow your business generates? Wealth building and tax savings go hand in hand. Subscribe on Youtube: https://www.youtube.com/channel/UCpFTe4qmVDjE1fwFIc6W00A Conn...2024-04-0426 min
Wealth MavericksTax Loss Harvesting - Turning Your Loses Into GainsToday we want to go over what tax loss harvesting is. This is a high level overview of the terminology used when talking about taxes, capital gains, stock/real estate gains and loses, etc… What is the point of investing? To buy low and sell high to grow our wealth over time. So often we see clients that have stocks they’ve held for many years that have 100+% of return and they have loses (over $3000) that year on their taxes but never received the advice to “sell high” and harvest those loses/gains. Where on a tax return do...2024-03-2814 min
Wealth MavericksTax Credits vs Tax DeductionsWhat is the difference between credits and deductions and what does this mean to you? The IRS is NOT your enemy! We’ve said it before and we’ll continue to say it… The IRS wants you to grow your business!! That is how they increase their tax revenue. When you grow your revenue, or hire more employees they make more tax revenue… That’s why they created tools like tax credits and tax deductions for us to use to save money on taxes. The issue is most business owners don’t utilize the tools the IRS provides because they don’t h...2024-03-2123 min
Wealth MavericksEverything You Need To Know About A Tax ReturnOur goal is to help business owners look at their tax return and actually have an idea of what is going on, and what their CPA is trying to do. Is your CPA putting in their best effort to save you money on your taxes? Or just plugging the right numbers into the box? A tax strategist, with an understanding of the IRS guidelines and deductions, is a vital part of any tax team.In todays episode, Bob brings up a 1040 to show you how to navigate through it, and what to look for...2024-03-1423 min
Wealth MavericksWhat Questions To Ask Your CPA To See If You’ve Outgrown ThemBob and Joe go over the typical experience most business owners have with their CPA. CPAs and Tax Strategists are a very different thing. A CPAs job is to prepare your taxes by plugging the numbers you provide them into the tax software they use. Most business owners expect their CPA to also be utilizing the tax benefits laid out in the IRS code to save them money on their taxes… But most aren’t!Here is 1 simple question that will let you know if you’ve outgrown your CPA:What are your t...2024-03-0716 min
Wealth MavericksPros & Cons of Real Estate as an AssetReal Estate can be a great investment If it is included into a diverse personal portfolio. This depends on your personal goals and desires but must fit into a holistic financial plan. We work with a lot of real estate investors who come to us mostly because of a tax problem and are looking of advice.Here are some questions we address in todays episode:Is real estate actually a tax efficient asset? If so, why? Do you want to be an active or passive real estate investor? What are the main types of...2024-02-2937 min
Wealth MavericksThe Roles & Guidelines of the Financial Distributors Part 2This is part 2 of a 2-part series where Bob and Joe go over the roles and guidelines of the financial distributors. In todays episode the conversation continues discussing investment companies and their role. Investment companies = risk. Advisors always talk about our risk tolerance but what does that really mean? Insurance Companies = safety. The key for insurance companies are capital & surplus. Bob reviews the different types of insurance products and what they protect. There is a point to each asset these financial distributers sell. These massively powerful entities are g...2024-02-2240 min
Wealth MavericksThe Roles & Guidelines of the Financial Distributors Part 1This is a 2 part mini series where Bob and Joe go over the roles and guidelines of the financial distributors. In todays episode we go over banks and what purpose they serve and near the end we introduce the role of investment firms. Our goal is to help you understand what you are getting into when you engage with these financial distributors.What are the financial distributors? What are their purpose? In what ways do we use them and why?What is the Federal Reserve?Check out our company The Free Founders website:www.thefreefounder.co...2024-02-151h 00
Wealth MavericksTax Planning vs Tax PreparationThere is a huge difference between tax prep and tax planning and a lot of people don’t know that. They think the same person (CPA) is doing all of that for them only to be woefully frustrated when they realize it’s not happening. There are two different main types of tax actions. Tax preparation and tax planning. Most of us have experienced tax preparation, but the way we like to think about it is you can’t prepare for something unless you have planned for it. We plan for most other things in life but when it...2024-02-0846 min
Wealth MavericksTime For a Mindset ShiftIn our previous episode, we went over the current mindset that most business owners have. It’s time for a shift to that current mindset so we can further grow ourselves and our businesses. Business owners currently harbor some fear and resentment for the IRS. We look at the IRS a little differently. They are your business partner! Not your enemy. They need revenue from us to continue to survive. The fear for the IRS really comes from not understanding taxes and how they work. The IRS wants you to grow your business as big as y...2024-02-0144 min
Wealth MavericksBusiness Owner MindsetToday’s episode contains some hard hitting topics for business owners. Business owners (us included) can only claim ignorance for so long. When we start a business we are on the grind stone, heads down working, just going as hard as we can to find success. Every once in a while we pop our heads back up and notice that it feels like we are in the exact same place as where we started. This is where we have to look at the world around us and no longer claim ignorance.How do we...2024-01-2539 min
Wealth MavericksThe Importance Of Having A PlanIn todays episode, Joe & Bob go over the importance of having a plan. Plans aren’t written in stone, they evolve and change over time. That said, it is crucial to always have a plan in place.Joe and Bob role play a scenario of a typical business owner and how we view “investing & Assets” differently than the typical advisor. Listen to the full episode to see how we analyze a new clients situation. Subscribe on Youtube: https://www.youtube.com/channel/UCpFTe4qmVDjE1fwFIc6W00ACheck out our company Terra F...2024-01-1828 min
Wealth MavericksIntroduction to The Wealth Mavericks PodcastWelcome to the Wealth Mavericks Podcast! The WM podcast is hosted by Robert Wolf and Joe Arioto. This is our who and why episode where you'll learn about the hosts and why they created this podcast.Subscribe on Youtube: https://www.youtube.com/channel/UCpFTe4qmVDjE1fwFIc6W00ACheck out our company Terra Firma's website:https://www.terrafirmaconsultant.com/Follow our company Terra Firma on Facebook and Linkedin to connect with us: https://www.facebook.com/TerraFirmaConsultants/https://www.linkedin.com/company/assetcoach-taxstrategist/2023-12-1428 min
Have More Fun with Mandy AriotoLove and Money- An Interview With Rafa RobertDescription: In this episode Mandy talks with Rafa Robert about love, money and dragons. Selected Links: brightpeak financial Love and Money Podcast Text "moneybetter" to 31996 for free resources Book: Happy Money www.RaiseGenerousKids.com The Paper Bag Princess Book MOPS Music by: Phillip E Morris "Sunshine & Blue Skies" soundcloud.com/philipemorris & pema.bandcamp.com Show Notes: 1:00 Introduction- The Paper Bag Princess 4:50 Recognizing what matters in life 5:41 Introducing Ra...2019-01-1044 min