The Long Game

Thomas Kopelman and Jacob Turner
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The Long Game

The Long Game podcast is all about educating 30-50 year old business owners and those with equity compensation on how to build wealth. You will learn everything from the basics to complex tax, estate, and financial planning concepts from Thomas Kopelman and Jacob Turner as well as other qualified professionals.

  1. -3 J

    The Soul of Wealth: Redefining Financial Success with Daniel Crosby

    In this episode, we dive deep with Daniel Crosby (author of The Soul of Wealth) into the multifaceted relationship between wealth, happiness, and fulfillment. Here are three key takeaways that I believe will resonate with many of you: Wealth is Not Just a Number 💰 Daniel shares a powerful story about Alexander the Great, illustrating that despite his immense wealth and power, he was ultimately undone by personal loss. This serves as a reminder that true wealth encompasses more than just financial metrics; it includes our relationships, experiences, and emotional well-being. As we navigate our financial journeys, we must remember to prioritize what truly matters in life. The Importance of Meaningful Work 🛠️ We discuss the paradox of work and happiness. While many people find fulfillment in meaningful work, they often get caught up in the pursuit of money, leading to regret later in life. Daniel emphasizes the need to optimize for fulfillment rather than just a paycheck. It’s crucial to find work that aligns with our passions and values, as this is what ultimately contributes to our happiness and sense of purpose. The Power of Perspective 🔍 One of the most enlightening parts of our conversation revolves around the concept of subjective wealth. Daniel explains how our happiness is often influenced by who we compare ourselves to. By being mindful of our reference classes and practicing gratitude, we can shift our perspective and find contentment in our current circumstances. It’s a reminder that happiness is not solely determined by our financial status but also by our mindset and the way we view our lives. View the Soul of Wealth on Amazon: https://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441

    1 h 5 min

  2. 15 NOV.

    End-of-Year Tax Planning: Strategies Every Business Owner Should Know

    As the year comes to a close, it's crucial to take proactive steps to optimize your tax situation. Join us as we discuss: The importance of knowing your numbers and understanding your financial situation Maximizing the Qualified Business Income (QBI) deduction Utilizing retirement accounts effectively, including 401(k)s and Roth options The benefits of donor-advised funds for charitable giving Strategies for tax loss harvesting and investment portfolio reviews The significance of Health Savings Accounts (HSAs) and 529 plans Exploring potential tax-saving opportunities through entity structure evaluations Don't wait until the last minute—start thinking about your tax strategy now!

    29 min

  3. 8 NOV.

    How to Optimize Your QBI Deduction: A Guide for Entrepreneurs

    After wrapping up a comprehensive insurance series, Thomas and Jacob shift gears to discuss the often-overlooked aspects of tax planning. They explain what QBI is, who it applies to, and why it's crucial for business owners to understand and plan around it. Key topics: What is the Qualified Business Income Deduction? Who qualifies for QBID and how it can impact your taxes The importance of proactive tax planning and communication with your financial team Strategies for maximizing your QBID, including salary considerations and year-end payroll planning Real-life examples of how effective planning can lead to significant tax savings Whether you're a seasoned business owner or just starting out, this episode is packed with valuable insights to help you navigate the complexities of tax planning. Don't miss out on the opportunity to save on your taxes!

    20 min

  4. 1 NOV.

    Disability Insurance: Group vs. Individual Policies & Protecting Your Income

    In this episode, we're joined by Broc Buckles as we break down the essentials of disability insurance, discussing its importance, the different types available, and how it can serve as a crucial safety net for your income. We explore group vs. individual policies, the significance of definitions like "own occupation," and the various riders that can enhance your coverage. Whether you're a financial advisor looking to expand your knowledge or someone seeking to understand how disability insurance fits into your financial plan, this episode is packed with valuable insights. Key Topics Covered: What is disability insurance? Group vs. individual disability policies Understanding elimination and benefit periods The importance of riders like cost of living adjustments and guaranteed purchase options Real-life scenarios and considerations for different professions

    21 min

  5. 25 OCT.

    Life Insurance: Term vs. Permanent Policies Explained

    In this episode, hosts Thomas Kopelman and Jacob Turner are joined by returning guest Broc Buckles, an expert in the insurance space. Together, they dive deep into the world of life insurance, breaking down the different types, including term and permanent insurance, and discussing when and why you might need them. Key Topics Covered: Overview of life insurance: term vs. permanent How to determine how much life insurance you need The importance of reevaluating your life insurance needs during major life changes Common misconceptions about whole life and indexed universal life insurance Use cases for term and permanent life insurance, including family protection, business agreements, and estate planning Whether you're new to the world of insurance or looking to refine your understanding, this episode is packed with valuable insights and practical advice. Timestamps: 00:00 - Introduction 00:18 - Disclaimer 00:33 - Guest Introduction: Broc Buckles 02:03 - Overview of Life Insurance Types 02:22 - How Much Life Insurance Do You Need? 04:25 - Reevaluating Your Life Insurance Needs 11:07 - Common Misconceptions in the Insurance Industry 15:10 - Use Cases for Term Life Insurance 20:26 - Use Cases for Permanent Life Insurance 29:40 - Conclusion

    36 min

  6. 18 OCT.

    Umbrella Insurance: A Must-Have for High Net Worth Individuals

    In this episode of the Long Game podcast, Thomas Kopelman and Jacob Turner dive into the often-overlooked topic of umbrella insurance coverage. Aimed primarily at high net worth individuals and those on their way, the discussion highlights the critical importance of understanding this type of insurance and how it can serve as a safety net in the face of unforeseen circumstances. Here are three key takeaways from this episode that you won't want to miss: What is Umbrella Insurance and Why You Need It: Umbrella insurance acts as an additional layer of protection on top of your existing auto and homeowners insurance. It’s designed to cover you in the event of a major liability claim, which can be financially devastating. We discuss a real-life scenario where a car accident could lead to a $3 million payout, and how umbrella insurance can help mitigate that risk. If you have assets to protect, this coverage is essential! Affordability vs. Value: Many people assume that comprehensive insurance coverage comes with a hefty price tag. However, we break down the costs and reveal that umbrella insurance can be surprisingly affordable—often ranging from $150 to $500 a year per million in coverage. When you consider the potential financial ruin from a single lawsuit, this investment is a no-brainer! Understanding Exclusions and Risks: Not all umbrella policies are created equal. It’s vital to understand the nuances of your policy, including any exclusions that may apply. We share a cautionary tale about a client whose umbrella policy didn’t cover a dog bite incident because the breed was excluded. Always consult with your insurance professional to clarify what your policy covers and what it doesn’t. In this episode, we aim to explain umbrella insurance and empower you with the knowledge to make informed decisions about your financial protection.

    12 min

  7. 11 OCT.

    Homeowners Insurance: Key Coverage Areas You Need to Know

    In this episode, co-hosts Thomas Kopelman and Jacob Turner dive deep into the world of homeowners insurance, especially for high-income and high-net-worth individuals. With recent events like hurricanes affecting many, understanding the nuances of homeowners insurance has never been more critical. Thomas and Jacob discuss the importance of having the right coverage, what to look for in your policy, and how to avoid common pitfalls that could leave you underinsured. Key topics covered in this episode include: The significance of dwelling coverage and how to determine the right amount. Understanding other structures and personal property coverage. The importance of loss of use coverage and what it entails. Personal liability and medical payments: what you need to know. Tips for optimizing your insurance structure to save money while ensuring adequate protection. Whether you're a homeowner or just starting to think about insurance, this episode is packed with valuable insights to help you protect your most significant assets.

    21 min

  8. 4 OCT.

    The Importance Of Auto Insurance and What You Need With Your Policy

    Most high net worth people think insurance is less important for them, but that could not be further from the truth. Insurance is so important for high net worth people but the way you structure policies is very different. This is part 1 of an insurance series where we go over auto, what to look out for, what you want in your policy, etc.

    23 min
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À propos

The Long Game podcast is all about educating 30-50 year old business owners and those with equity compensation on how to build wealth. You will learn everything from the basics to complex tax, estate, and financial planning concepts from Thomas Kopelman and Jacob Turner as well as other qualified professionals.

Informations

  • Création
    Thomas Kopelman and Jacob Turner
  • Années d’activité
    2020 - 2024
  • Épisodes
    176
  • Classification
    Tous publics
  • Copyright
    © Thomas Kopelman and Jacob Turner
  • Site web de l’émission
    The Long Game

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