The Long Game
By Thomas Kopelman and Jacob Turner
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.
The Long GameAug 26, 2022
Rent vs Buy Debate: Actual Numbers Involved
Rent vs buy is a constant debate.
Both Jacob and I are homeowners yet we can be realistic and look at the numbers.
In this episode we chat about:
- when renting can be better
- when owning is better
- the numbers behind mortgages
- and much more!
How To Invest As A Business Owner
In this episode, Jacob and I talk about:
- how important it is to carve out different forms of investing as a business owners
- how investing is different as a business owner
- how to think through concentration
- how concentration alters the way you invest externally
Tax Planning Before A Business Sale With Successful Entrepreneur Ankur Nagpal
In this episode with Ankur Nagpal we talk:
- about him scaling his first business to over $25mil in revenue
- tax planning moves he made to get $3mil capital gains tax free
- other tax planning moves to consider
- the power of solo 401(k)s
10 Biggest Mistakes Business Owners Make
In this episode with Thomas and Jacob go through 10 of the biggest mistakes they see business owners make.
Some of the one's covered are:
Holding too much or not enough cash in the business
Not planning taxes
Waiting till right before tax filing to do tax planning
Not thinking Tax election status
QBI
Optimizing retirement accounts
Understanding Real Estate Syndications With Aleksey Chernobelskiy
Real estate syndications are really popular today. But not all of them are created equal.
Aleksey helps us understand:
- what they are
- how they work
- mistakes people make when investing in them
Scaling To 600 Employees and Lessons Learned Along The Way with Michael Girdley
In this episode with Michael Girdley we talk:
- his journey from starting one business to now running 10
- how to create your perfect day
- advice he has for other business owners
Tax Moves You Can Still Make for 2023 and The Truth On Private Equity
In this episode with Thomas and Jacob they break down:
- what tax planning moves you still have for 2023
- the need to change from being reactive to proactive on tax planning
- talk through private equity from everything in the news recently
Growing A Business and Raising Money Through Seed Rounds With Rafael Loureiro
In this episode with Rafael Loureiro we talk about:
- how to grow a business
- how to raise capital
- the challenges that come with raising capital
- what to look for in the people who are giving you money
- how to maintain culture
- why investing in second time CEOs can be wise
10 Misconceptions People Have On Taxes, Business, Investing, & Risk
In this episode with Thomas Kopelman and Jacob Turner, we talk about 10 misconceptions people have like:
- leaving money in the business means it is not taxed
- low deductibles are most important on insurnaces
- the goal is to pay the least amount of taxes this year
- Always go Roth or always go Traditional
And much more!
All Things Private Flying with Preston Holland
In this episode with Preston Holland we talk:
- The various ways to fly private
- At what wealth levels you can afford each type
- How much they all cost
- The tax benefits for business owners
How We Manage Our Finances As Financial Planners
In this episode with Jacob and Thomas, we talk about:
- how we manage our money
- the tax planning we do
- our savings and investing priorities
- if we do Roth vs traditional
- how we spend our money
- how we invest
- mistakes we have made
NIL, How To Plan If Getting NIL Money, and Financial For Planning 1099 Folks With Darren Heitner
In this episode with top NIL lawywer, Darren Heitner, we talk:
- About his journey from sports agent to law firm owner
- About all things NIL, how it works, how they are paid, etc.
- Financial planning for NIL athletes, soloprenuers, etc.
New Year Planning For Business Owners
The start of the year as a business owner should be about planning.
IN this episode we walk through:
- How to get organized
- How to think through what you will do this year with your business and how to make key strategic decisions
- The documents you need to understand
- Why tax planning is important to start at the beginning of the year
The Power Of Roth Conversions
In this episode with Steven Jarvis, CPA, we talk:
- Roth vs traditional
- what a Roth conversion is
- how to do a Roth conversion
- Times it makes sense and time is does not
- Things to look out for
How To Be Ultra Successful With Dr. Julie Gurner
In this episode with Dr. Julie Gurner, we talk about:
- what traits the ultra successful have
- the power of working with coaches
- the importance of drive over motivation
- how you can only really focus on 3 important parts of your life from work, to friends, to family, to working out, etc.
The Value of Good Advice (and I Introduce My New Co-host)
In this episode and the start of a new season, I welcome on a new Cohost, Jacob Turner.
In this episode we share our stories of why we became financial advisors.
We also talk about:
- the value of good advice
- the impact of avoiding big mistakes
- how much of a change a few key decisions can make
The Power of Backdoor Roths and How To Do Them Correctly
For the last episode of this season, I did my first and hopefully last solo episode (with a sore throat).
In this episode, I talked about:
- the power of doing backdoor Roth contributions
- how to properly do them
- why you need all other IRA balances to be $0 at year end
- how to accomplish that and having them be at $0
- the need for form 8606
If you want to read more about that, here is a great blog post I did on this topic before.
Financial Planning For People Who Are Planning To Move Out of The US
Financial planning is complex enough for US citizens. Yet many plan to move out of the US for retirement. So how do you best plan for that?
In this weeks podcast with Jack Thomas, we talk about this and what to consider. As well as help talk through financial planning for people who are from abroad and working in the US now.
How To Plan For A Liquidity Event (IPO) with Mark Cecchini, CFP®
In this episode with Mark Cecchini, CFP® we talk about:
- The various types of liquidity events
- How to best plan for them
- Tax planning based on type of equity
- What equity to sell first
- How to best take the emotion out of the decision
How To Get A Mortgage As A Business Owner With Carl Oguamanam
So many people say they cannot get a mortgage because they are a business owner and they aren't wrong.
It is more complex... but doable. You just have to know the right people and the things you need to do to make yourself a better candidate.
We walk through what that looks like in this episode with Carl.
End of Year Tax Planning Moves To Make With Ryan Dolan
The end of the year is the BEST time to be doing tax planning.
But you may be wondering what you need to think about doing.
In this episode with Ryan Dolan, we walk through 10+ tax planning moves you should be thinking about. We talk through both business owners and employees.
Some Things You Need To Learn About Money and Investing With Daniel Crosby
IN this episode with Daniel Crosby we talk about:
- How the Jones's are not as rich or happy as you think
- How time is scarcer than money
- How a house is a place to live, not an investment
- How market corrections are more common than your birthday, expect them
- How if you are excited about an investment, it's probably a bad idea
- Why infrequent splurges bring the greatest happiness
You guys will love this one!
How To Create A Portfolio In A High Interest Rate Environment With Rubin J. Miller, CFA
In this episode with Rubin J. Miller, CFA we talk:
- what is going on with interest rates and how that effects the way you should create a portfolio
- what makes a good portfolio
- why the bond allocation should be different for everyone
- why allocation to just US stocks might not be the best move
- why I do not hold bolds
- and so much more
Lessons About Business From Growing A Financial Firm With Mitchell Baldridge CPA
In this episode with Mitchell Baldridge CPA we deviate from the financial topics and talk:
- Building a business
- Lessons we each have learned
- Why we both like working on multiple things at a time
- Business lessons on solving problems, growing, etc.
You will really enjoy this change of pace.
Donor-Advised Funds: How to Optimize Charitable Giving With Adam Nash
In this episode with Adam Nash, we talk:
- His journey and all the major companies he has been apart of an ran (Linkedin, dropbox, Acorns, Wealthfront, and now Daffy)
- The benefits of donating to charity
- What a donor advised fund is
- How to best use donor advised funds
- Some real life examples
- And then we go through his new company helping make this easier, Daffy
You can check out more about Adam and Daffy below:
Twitter: (@DaffyGiving)
Adam’s Twitter (@adamnash)
Roth vs Traditional With Cody Garrett, CFP
In this episode with Cody Garrett, CFP we talk:
- the difference between Roth and traditional
- why all Roth all the time is not often the right move
- the pro's and con's of each
- real life example
- the power of Roth conversions
- and much more!
Why You Need To Protect Your Wealth (And How) With Christopher Gipe
In this episode with Christopher Gipe we chat about:
- why you need to protect your wealth
- how to protect your wealth
- the basics parts of asset protection
- the more complex parts like domestic asset trusts
- the "it cannot happen to me" mentality
- some stories to help people understand what CAN happen to you
How To Plan For The Estate Tax Changes Coming In 2026 With Frazer Rice
In this episode with Frazer Rice, Author & Host of the Podcast "Wealth Actually", we talk:
- All about the corporate transparency act coming in 2024
- What changes are coming in 2026 as tax laws sunset
- How to plan for them based on what wealth level you are at
- Why waiting till 2025 is a bad choice
- Some charitable planning ideas for families to instill values in their children
A Deep Dive Into Incentive Stock Options (ISO's) And AMT With Mike Zung, CFP®
In this episode with Mike Zung, CFP® we talk:
- ALl things ISO's, how they work, how they are taxed
- What AMT is and why you need to watch out for it
- How to best plan around ISO's
- Tax laws that could drastically change the picture and planning around ISO's
Introducing My First Full Time Hire (Who He Is, What The Role Is, And Our Story)
In this episode I introduce you to my new hire, Ryan Dolan and share what the role is, what the plans are, our story and how we know each other, etc.
So You Have A Trust Now What (How to Fund It) With Anne Rhodes
In this episode with Anne Rhodes (my co host for my wealth.com podcast) we talk what to do after you have a trust:
- How to fund it
- What accounts/investments should go in
- What should be named in the trust vs beneficiary
- And much more
This is a really important topic as way too many have unfunded trusts out there.
Making The Best Decisions, Not Just The Right Ones With Ben Lake, CFA, CFP®
In this episode with ben Lake, CFA, CFP® we talk:
- the importance of having a financial decision tree
- how to prioritize what is the best tax moves/financial moves with what matters most
- mistakes we see people make as they get wealthy
What We Can Learn From Athletes On Financial Planning, Retirement, Etc. With Jacob Turner
In this episode of the Long Game Podcast, we have on Jacob Turner, fellow financial planner as well as former pro baseball player. He was actually a top 10 pick in the draft out of high school.
He took this experience, what he went through, learned, etc. and decided that he wanted to be a financial planner that helps pro athletes and business owners.
You can hear us talk about:
- financial planning for athletes
- the power of making a lot of income early on
- how to help yourself make decisions that align with what is important to you
- how to navigate and plan/not plan for retirement
And much more!
The Importance of Building A Team Around Business Owners and Who Those Key Members Are With Dasarte Yarnway
In this episode with Dasarte Yarnway we talk:
- Why leveraging your time is so crucial as a business owner
- Why you need to spend your time where it is most valuable
- The importance of having a great team around you that speaks to each other and is on the same page
- And who is needed on this team
Understanding Business Tax Planning With Roger Ledbetter CPA
In this episode we Roger Ledbetter, CPA we talk:
- Why entity structure is the first place to start
- QBI and how it applies and effects taxes
- Why you don't typically want to hold real estate in your business
- How to maximize and think through deductions
Aligning Money Psychology To Get Better Outcomes With Dr. Preston D. Cherry, AFC®, CFT-I™, CFP®
In this episode with Dr. Preston D. Cherry, AFC®, CFT-I™, CFP®, we talk:
- Balancing spending
- How to not care what others think and to spend according to what you can afford
- How to understand your money story
- How to get on the same page with money with your spouse
Ways To Invest In Your Financial Education With Rachael Camp, CFP®
In this episode we talk about the various ways you can invest in your education like:
- books/podcasts/blogs
- courses
- financial plans
- ongoing relationship with an advisor
As well as who fits in each bucket and why.
If you want to sign up for your course and get $50 off, join the waitlist here.
Restricted Stock, ISO's, & 83(b) Elections With Mike Gorback
In this episode with startup lawyer Mike Gorback, we talk:
- Why S corps are not ideal for companies who plan to take on funding
- How founders get compensated through Restricted stock
- Why ISO's are carved out
- How ISO's and restricted stock are taxed
- What an 83(b) election is and the power of them
- How to best do and 83(b) election
And much more!
How To Protect Your Wealth As A High Net Worth Person With Christopher Gipe
In this episode with Christopher Gipe (top estate planning attorney) we talk:
- What asset protection even means
- Ways to do it
- Why it is so important the more wealth you build
- How many are missing out on key asset protection pieces when they own rentals
- And much more!
An Update On Debt And How To Think Through: Mortgage, HELOC, Auto, Credit Cards, and Students
In this episode with Rohit Agarwal we talk what we are seeing in the current lending markets and what to think through for each type of debt.
Special Announcement: I Am Now The Head of Community For Wealth.com
This is a special episode!
I recently (in the last couple of weeks) took the head of community role at wealth.com. The second I saw this product and me the team, I was blown away with it. So I asked for this role and now got it.
If you have not yet, go checkout wealth.com
A Masterclass On How To Invest In Real Estate With Sean O'Dowd
In this episode with Sean O'Dowd we talk all things real estate investing:
- How to pick a niche
- Why cash flow matters
- What you need to know when looking at different deals
Most Debated Financial Topics (Permanent Life Insurance, Active vs Passive Investing, Fees, Etc.) With Andy Panko, CFP®, RICP®, EA
In this Episode With Andy Panko, CFP®, RICP®, EA we talk some of the debates we see consumers and advisors having:
- Permanent life insurance: the good, the bad, the use cases, etc.
- Active vs passive investing
- Different type of fee models
- Worrying about tax refunds or not
Founder Tax Planning Series Part 4: Using Real Estate For Tax Planning (Active vs Passive) with Brandon Hall, CPA
In this episode with Brandon Hall, we talk all things utilizing real estate for tax planning:
- active vs passive
- short term vs long term rentals
- Why it is such a powerful asset class
- The tax benefits of real estate
- why return on equity is a great metric for real estate
- and so much more!
Founder Tax Planning Series Part 3: The Power of Estate Planning and Charitable Giving With Ben Lake, CFA, CFP®
In this episode with Ben Lake, we talk:
- why estate planning is so important for founders
- estate planning moves to consider
- revocable vs irrevocable trusts
- the power of donating to charity
- the best ways to do it, foundations, donor advise funds, charitable remainder trusts, etc.
Founder Tax Planning Series Part 2: QSBS and 83(b) Elections With Mark Cecchini, CFP
In this episode with Mark Cecchini, CFP, we talk:
- what QSBS is
- the benefits of it
- how to qualify
- 83(b) elections
Founder Tax Planning Series Part 1: What You Need To Know About Opportunity Zones With Barrett Linburg
In this episode with Barrett Linburg we talk:
- What an opportunity zone is and what options you have to invest in them
- All the tax benefits that exist
- Why founders when selling should at least consider utilizing them
- Whether you should do your own or work with a company
- Why you need a great team around you to execute on this strategy
Ways To Potentially Reach Financial Independence Faster With George Acheampong Jr.
In this episode with George Acheampong Jr. we talk:
- financial independence and the value of it
- ways to get there faster
- why increasing income should always be priority one
- why understanding what matters and what your desired lifestyle is
- the power of a high savings rate
- the buy, borrow, die approach
Go and give George a follow on twitter, linkedin, and instagram.
What You Need To Know About Hiring Kids and Spouses Within Your Business With Matt Chiappetta, CPA
In this episode with Matt Chiappetta, CPA we talk:
- whether you can hire your children or spouse
- the do's and don'ts of hiring them
- what to look out for
- the tax benefits of doing it
- and much more!
Figuring Out Your Enough and Pursuing Contentment With Khe Hy
This episode goes deeper than most. Thomas and Khe Hy talk about:
- Khe Hy's childhood, time on WallStreet, and why he left to start his own business
- how money and happiness do not go hand in hand
- why it is important to figure out what your enough is
- why you need to do some digging into understanding what is most important to you and what will bring you happiness
This was of the best episodes and guests by far.