September 8, 2025 • 43 mins
What happens when you leave your W-2 job and that comfortable corporate benefits package disappears? For small business owners, creating your own financial safety net isn't just important—it's essential. Yet as financial consultant Don Workman reveals in this eye-opening conversation, most entrepreneurs are dangerously underprotected.
Did you know that approximately 75% of small businesses are underinsured? While you're pouring everything into growing revenue, your business and personal financial foundation might be perilously fragile. Workman walks through the critical insurance coverages every business needs: general liability to protect against lawsuits from injuries on your property, professional liability (E&O) to guard against claims of negligence, workers' compensation for employee injuries, and increasingly vital cyber liability insurance to protect against data breaches that could devastate your business reputation.
Beyond business protection, Workman illuminates the personal financial safeguards entrepreneurs need. Unlike financial advisors who charge monthly fees regardless of performance, Workman explains how consultants like himself offer free consultations and are compensated by carriers only when solutions are implemented. This approach makes professional financial guidance accessible to businesses of all sizes.
The conversation covers powerful retirement vehicles that allow business owners to defer up to $68,000 annually (as of 2024), tax-advantaged life insurance products that offer both death benefits and living benefits for conditions like terminal illness and Alzheimer's, and annuities that provide growth potential with protection from market downturns. Workman also introduces a supplemental program through IRS Code Section 125 that can save businesses significant money on payroll taxes while providing valuable benefits to employees.
Whether you're just starting your entrepreneurial journey or have been running your business for years, this episode delivers actionable insights to ensure you're not just making money, but protecting it properly. Connect with Don Workman at WealthGuard Solutions to receive a free consultation and start building the comprehensive financial protection strategy your business deserves.
If you need assistance in obtaining funding, email us at podcast@tdjequityfundinginsiders.net. Tell what the scope of funding is needed and the amount. A broker will contact you to discuss your funding needs. And remember, at TDJ Equity Funding, we do not force your funding needs into a lender's box but find a lender's box that fits you!
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Episode Transcript
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Speaker 1 (00:13):
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Hear from experiencedprofessionals, including bankers
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(00:36):
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funds securing funds.
Speaker 3 (00:48):
Welcome to the Business Owner Webinar Series.
And today we have our specialguest, which is Dunn Workman.
And Dunn is a financialconsultant.
But we wanted to bring thisseries to you guys so you all
can be aware of what we're goingto talk about and mainly
because you all need tounderstand it.
If you are business owners,this is what this is catering to
, so we can kind of educate youon what's out there as far as
(01:11):
protecting you, because a lot ofus are leaving W-2 companies
okay, and a lot of us have neverworked for ourselves before.
You're used to that benefitpackage being available for you.
Well, now things are going tochange because that benefit
package needs to come directlyfrom you.
So what Don is going to give ustoday is show how you can make
(01:31):
your money, which basicallythat's what you do, but he's
going to show you how to keepyour money to make sure that
you're having a retirement setup.
He's going to give us someideas of how we should do as far
as taking care of ourselves asbusiness owners.
So if you all would, let'swelcome Don into our webinar and
our show today and, don, if youwould give us a little bit
(01:53):
about your background and againwe want to welcome you for being
part of this series.
Speaker 2 (01:59):
Good afternoon, jackie, and thank you for having
me Again.
My name is Don Workman.
I live here in the Dallas-FortWorth area with my wife of 37
years let's see, two weeks willbe 37 years.
We've got two grown daughtersand a son-in-law, and my
business is called WealthGuardSolutions.
I'm in the middle of getting mywebsite redone so we'll get
that all scheduled and stuff.
(02:20):
We're growing, we're gettingthere, we're making some good
things happen.
I work with a good company outof California, but we'll just
kind of keep this simple.
But I've been in business about35 years and I've been in a
financial consultant for thelast five years and what I've
(02:42):
found is why would you get intothis kind of business?
Because, like you as anentrepreneur, you found
something you were passionateabout and I love helping people
as a man of faith.
I said I want something I cando to help my family, but I also
want to help those businessowners.
You know most of the businessesI help are like 20 people or
(03:02):
more, but you know what thesmall businesses are, the ones
that are the lifebloods of ourcommunity.
I think you'll agree that manyof these small businesses are
the ones that keep our familiesafloat, keep our neighborhoods
uh, going and build, and youknow down here where I live, the
small businesses are really thelifeblood of our community so
(03:23):
I'm really, really not just tocut you out, but what of our
community?
Speaker 3 (03:25):
So that's why we really not to cut you out, but
what we really have to do.
That's what the show is aboutthe small business.
So let's step in some thingsthat a lot of small business
don't understand and kind ofwork with that.
Now we know we want to talkabout starting off as a business
owner that have been inbusiness, is it a certain time?
First of all, let's talk aboutwhat you provide to the business
(03:47):
owner as a financial consultant.
What could you provide for them?
Speaker 2 (03:53):
Oh, okay, great, I've actually met.
Just a quick story I've metwith a CEO fractional CFO the
other day and he asked me asimilar question.
Cfo the other day and he sayshe asked me a similar question.
You know, if you have partners,one of the things that I look
at is a buy-sell agreement.
Okay, what is that?
(04:13):
We can talk about that in moredetail.
Another thing is if you've gotkey personnel, so if you've got
somebody who's very integral toyour part of what you do.
Speaker 3 (04:27):
You know that's somebody you're going to want to
.
You're going to protect thatExactly Like and I've worked
with you before, so I know likeyou can help them with insurance
and so on that part, when youwant to see what type of
insurance you need to get foryour business, I find that you
can.
Your business as a financialconsultant can help.
You can also and we're going totalk in detail of this we can
also help with your annuitiesand also with the 401k plan,
because remember, like I toldyou before, that we're now
(04:50):
leaving that company where wealready had benefits.
How do we set up our ownbenefits?
Now let me say this to break inso everybody can understand you
have your financial advisorsWe've heard of those and then
you have a financial consultant.
So what is the differencebetween and I want to get
opportunity done between afinancial advisor compared to a
financial consultant?
Speaker 2 (05:12):
OK, just some real basic things.
The financial advisor he getspaid every month whether you
make money or not.
I don't have that.
I don't have that luxury.
I don't do that because a lotof times they work in stocks and
securities and I don't work inthose.
What I do, I work in principalprotection products which would
(05:34):
revolve around the lifeinsurance companies.
We talk about the annuities andthe IULs and things like this.
Those are the things that wehelp folks with that protect
their principal and not have tohave a lot of the tax strategies
to help them protect them fromall the different tax laws are
out there.
And there's another thing Onething that happened in the last
(05:55):
downturn in the economy was likelast November and a lot of
people lost money.
I can say that none of myclients lost money last November
, so I think that's a big that'ssomething pretty big to have
that.
Speaker 3 (06:08):
But what we want to do is kind of more talk in
general of educating everybodywith how the financial
consultant work and how theadvisor work.
Now, I know you might can'ttalk on advisor because you're
not a financial advisor, so I dowant to give everybody you did
mention that it's more on thewhere they want to do
investments and things of thatnature.
(06:29):
You're more of the I guess,stable part of what you want to
start with, am I correct?
Maybe insurance, annuity andkind of like that to protect
ourselves for retirement, wouldyou be more?
Speaker 2 (06:40):
in that Partially you can start or you could be
toward the end, because a lot ofus, partially you can start or
you could be toward the end,because a lot of us, you know
you've got your rollovers andall that which we'll get into.
But as a new business owner, um, and if you've got employees,
we can help you with those sortof things set up a 401k or
whatever kind of retirement andlife insurance.
Even as a financial financialadvisor, he'll deal primarily in
(07:03):
financial type of stuff stocks,bonds Whereas I can help you
with some of that.
But I can do a lot of insuranceas well.
So we can do life insurance foryou, for your business, for
your employees, for your family,for your children.
And you know we do more estateplanning, college planning, but
the retirement planning, whichis huge for our we're learning
(07:24):
that and this is probably knownto your audience that 75% of our
business owners are, you knowthey're small businesses,
they're underinsured, that'sright.
You know that's something youhave to protect yourself as a
business owner and I thinkthat's part of the key things
that make it different, becausewe offer a little bit more.
(07:44):
That's part of the key thingsthat make it different, because
we offer a little bit more andit's not downplaying anything
those guys do because they servea purpose and we work with a
lot of those folks because weencourage people to diversify.
So say, if you've got $100,000and you've got it in the market,
but I want to protect some ofthat, I say 20, 20 to 30%.
So if you had $100,000, you put20 to 30% in something that
(08:08):
protects your principal againstthe downsides of the market.
Speaker 3 (08:18):
I think that really puts you in a good position to
not have to worry aboutscrambling should the market
have a bad day.
Let me ask you a question.
Then you had mentionedsomething about you were not in
the financial side, but itsounds like you mentioned a
financial side.
So the financial advisor?
Let me explain this for us thefinancial advisor can handle the
stocks and investments, can younot handle?
You don't handle theinvestments in the stock part,
right?
Speaker 2 (08:38):
You have to be licensed, correct?
But I do know some folks thatwill do that.
That I trust.
Speaker 3 (08:44):
But most of the folks we're just talking about you,
so what you all do right as aconsultant.
Speaker 2 (08:48):
99% of the people I want, they want what I have,
they have their guy and that'scool.
So what they do there is fine.
Speaker 3 (08:56):
But Don let's say this it's not interrupting, but
what we want to say is you also,because you are a financial
consultant, you have attachmentsor relationships with people in
those fields that you can guidethem.
Now let me say this about youguys so they can understand this
about you With a financialconsultant, he's kind of like a
planner.
You bring what you have goingon with your business and what's
(09:20):
happening with you.
He can help plan it out anddirect you.
It's things that he canactually do help you with
insurance, annuity and 401.
But there are other things thatyou need to do to protect
yourself and your money.
He has that partnership.
Am I correct that you canactually connect them to all
those people as well?
Speaker 2 (09:37):
Correct.
Think of it like a generalcontractor.
He's going to build your house,but he's going to have a sub
that's going to be a plumber,electrician what have you that
he's going to trust?
And the same goes for us, too,because there comes a time where
I do need that expert in thestock market and they want to do
that kind of thing.
(09:58):
Not very often, but when thetime comes, I have those
resources available.
Speaker 3 (10:02):
Right, right, and that's what everybody
understands, so let's talk aboutit.
When it comes to we're going totalk about the insurance
annuities in a 401k, if youwould give us when it comes to
insurance and having a business,what type of insurance should
the business owners look for forthemselves?
Speaker 2 (10:18):
Okay, We've got a few that we recommend for folks.
The first one is generalliability insurance right, but
what that covers is your thirdparty bodily injury, property
damage, legal defense costs,because if you've got a little
warehouse or a little businessand somebody gets hurt on your
property, that could be pricey,right.
(10:39):
Yeah, why does that matter,though?
It's foundational coverage, sothis is like the bare bones,
basics, right, and one slip andfall in a lawsuit could
financially devastate a business, especially a small business,
and what it covers is yourbuilding, your equipment,
physical assets, fire, theft,vandalism and weather-related
damages.
Speaker 3 (10:58):
So that's just our general liability.
Okay, that makes sense.
What's the next one we shouldget?
You think we should have?
Speaker 2 (11:03):
Okay, let's say, a workman's comp right, you've got
employees right.
What does that do?
Medical expenses and lost wageswe're familiar with that to a
certain degree.
It's lost wages for youremployees and the employee
liability for the workplaceinjuries.
That happens more times than weprobably want to talk about.
(11:23):
And why does it matter?
It's required in most states.
It protects both the employerand employee financially if you
have an on-the-job injury.
Speaker 3 (11:36):
Right, which I work with that.
Now let me ask you this Allthis that you're mentioning,
they can go through you and youcan help get it right, right um
those not so much I partnershipyeah, yeah, yeah, okay, okay.
So you have partnerships to kindof help, like I say, he's a
consultant guys, he can actuallyhelp direct you, which means
we'll talk about how he get paid, which made a big thing for us
(11:58):
starting off his business, howhis business actually worked.
So what's the next one I knowyou and I talked about like the
insurance they should get aperson like UI I think it's UI,
you said or IU, in type ofinsurance.
Speaker 2 (12:13):
Well, we're going to start with the generalized topic
that we're on.
The next one is theprofessional liability insurance
, which we use as an error andomission.
Now, that tends to go towards.
If you're a consultant advisorLike myself, that helps you
Claims against negligence,mistakes or misused services,
(12:36):
and I can tell you here in thestate of Texas, if you get
caught with fraud, it is notcheap.
Speaker 3 (12:42):
What is that?
Speaker 2 (12:43):
one Don that one's called the E&O Errors and
Omissions Insurance.
E&o Insurance, okay, Got youand that boasts retention,
morale, tax efficiency, you knowthat kind of thing.
So it's a good one and verynecessary to have.
The next one is the cyberliability.
(13:03):
Now, this one you may or maynot be aware of that's a new one
In recent years.
Yeah, the small, even the smalltown, is starting to get cyber
crime divisions because peopledon't seem to have nothing else
to do but break into companies.
And what does that do that?
You know it protects youagainst data breaches,
ransomwares, malwares, cyberattacks.
(13:24):
One data breach can reallyimpact your trust.
Okay, and you know I had thatbefore.
I must say I admitted a coupleyears ago I had that somebody
hacked in and got my client'sinformation and that was ugly.
So if you have any kind ofintellectual property that you
have, I would advise stronglyand I don't't do that.
(13:47):
But there are some goodcompanies out there.
Speaker 3 (13:50):
Okay, thank you, okay .
So what do you think we need?
Speaker 2 (13:55):
Those are the basic things.
I think the next thing weprobably should talk about a
little bit would be thedifference between really being
covered because I got coverage,but are you protected?
You know, that's something thatwe can probably dive into a
little bit more.
Really being covered because,oh wait, I got coverage, but are
you protected, that's somethingthat we can probably dive into
a little bit more.
Speaker 3 (14:12):
Okay, well, let's do this before we go there, don, I
want to mention to everybody Iknow you didn't talk on it, but
I'm going to say it from mypersonal, being a business with
everything he's saying, which iswonderful we really need to
look at life insurance as abusiness owner, not a life
insurance just to be paying fora policy, just to pay to be
covered.
But they have life insuranceout here that you can actually
(14:33):
do it as an investment and getsome type of return on what you
put in.
And they're called theuniversal insurance policy.
Is that right?
Speaker 2 (14:39):
It's indexed universal life and we were going
to get into that.
I just wasn't.
Speaker 1 (14:43):
I wasn't sure.
If you want to, tackle that nowshe's ready.
Speaker 3 (14:47):
Okay, because it goes along with all the insurance
that we kind of talked on, and Ijust don't want to miss that
because I've seen that happenbefore and I want us to make
sure we get it.
So I do want them to know aboutthat insurance because we let
me tell you something, don, andyou probably know it too as
business owners, we in ourbusiness we got our head down
and we working real hard and welook up 10, 20 years later and
(15:09):
some things we have not put inplace.
So I realized that type,instead of me doing whole life
insurance which that was betterthan term life what was better
than whole life was havingsomething I can invest in and I
can pull money out if I need it.
So that's why I wanted to makesure they knew that was out
there and that was available.
That's why I brought it at thattime.
Speaker 2 (15:28):
Sure, we can tackle that a little bit.
Speaker 3 (15:31):
That's okay, I've already tackled it.
You can go to the next one,okay.
Speaker 2 (15:38):
Well, let me kind of expound a little bit for you,
because what it really is, it'sa life insurance poly with
tax-deferred growth andprotection from the downside of
the market, and it has permanentinsurance.
Here's the thing With terminsurance you're paying, you
know it goes up.
I had this recently where I waspaying $60-some dollars and
when I hit $60, I look at it itwould go up to $1,000.
(15:59):
This policy does this, thiswon't do that, and it comes with
living benefits.
Now, a lot of companies willsay they have living benefits,
but it's typically just terminal.
I've got a partner that doesterminal life insurance chronic
injury or illness, criticalinjury and they just had one,
(16:19):
for they just added Alzheimer's.
If you've got Alzheimer's whichGod help those folks that do.
I've got a parent with dementiaand I wish this had been around
for him and you know these arethings that they're added to the
policy with no additional costto you and what will happen is,
at each stage, there's apercentage of your check of your
(16:41):
policy that will be turned overto you so you can use it for if
you need to do medical.
So if you're terminal, we'lljust use terminal to you so you
can use it for if you need to domedical.
So if you're terminal, we'lljust use terminal uh.
If you're terminally ill for 24months, you got uh.
They'll give you 90 of whateveryou have uh, so you can take a
trip, fix your house, whateveryou need to do, no questions
asked.
And it's really, really been agreat selling point for uh many
(17:04):
of my my colleagues and I as wedeal with our clients,
regardless if it, regardless ifit's a business or it's a family
, because you know whatProtection is huge and
everywhere you can get something.
That's a valuable tool and itdoesn't break the bank.
That's always an asset.
Speaker 3 (17:18):
It is and, like you said, I know you say it's a
selling point for you guys, butfor me, as a business owner, it
is a point that I think businessowners need to have.
We need to look at it becauseof what it offers.
Ok, that's what I think isgreat.
So let's talk about oh goodness, this was great.
The next thing that I know youkind of focus on is annuities.
What is annuities?
What's an idea to have anannuity, and why Can you explain
(17:40):
that to us?
Speaker 2 (17:42):
Annuities.
This is this is a tough one.
I don't know if everybody'sready for this one.
What is an annuity?
It's a contract between thelife insurance company and the
policyholder.
So one company we work with hasbeen around since like the
right around the Civil War, andthey have.
They're standalone, they don'thave outside investors, but what
(18:03):
they do is they have greatpolicies and great customer
service.
And so when I say that they'rethe life insurance company, if a
life insurance company putstheir name to something, you're
going to expect them to hold onto it.
They're going to hold theirword and they do every step of
the way.
Speaker 3 (18:22):
And I you know.
Ok, you know you're trying tosell a company right now, right,
Don?
Speaker 2 (18:26):
I'm trying to not sell, but I am already All right
.
Speaker 3 (18:29):
So come on, let's bring it back.
So let's talk about annuities,because we know you've got good
companies, that's why you'rehere.
But so annuities is a contractbetween you and the insurance
company, right, correct?
How do we make money?
How do we invest in it?
How?
Speaker 2 (18:43):
does it work In general?
How?
Speaker 3 (18:44):
this works in general .
Speaker 2 (18:44):
Just a general thing we're going to use the IUL
because you brought it up, whichwould be, great, because what
happens is you've got a companythat's got thousands of
policyholders.
All the money goes in a big tube, policies, you know billions of
dollars.
What they do is they put a cap.
They'll put a cap of like, say,we'll use 15% up top and a cap
(19:04):
of zero, so they'll put yourmoney in the market.
Okay, and the market has agreat day.
It has 30%.
You know what You'll get that15% and this is how the company
makes money.
That other 15% goes to theinsurance company.
That's how they make theirmoney.
So then, on the flip side ofthat, you got zero.
(19:25):
Okay, the market has a terribleday and it loses 10 points.
Guess who takes the hit?
The insurance company.
So you get your stays at zero,and I like to look at it as like
zero is my hero, because I'drather be at zero than lose
money, because to lose 10% yougotta get 20% back just to make
(19:46):
something, and it doesn't alwayscome that quick.
Speaker 3 (19:48):
Right, right.
So annuities is something.
When do you think we need toget those as business owners?
Okay, so we get insurance.
Let's say we get the insurancesthat you say we need,
especially the cyber, okay.
So then it comes to annuity,because it's what, like a little
investment I need to look at.
Is that how I look at that?
It's like it's a littleinvestment with my money, where
it's making money for me, or howshould I look at the annuities?
Speaker 2 (20:10):
It's totally.
It's on a case by case basis.
If you've got like an old rule,let's use that, because you can
take that and put it into anannuity and what we call a
single premium to where you justput that in there and let it
grow in the.
We're seeing an average abouteight to 12 percent on returns
and you could put that in there.
It will put us in atax-deferred program.
(20:32):
You won't get to stop to paytaxes because Uncle Sam's funny
about their money, but you'll beable to make that money and
sock more of that away than loseit to taxes.
And so we're finding that tool.
Or, if you're starting out,here's the thing too.
You talk about little money.
You can start out with a littlemoney and you just pay a little
bit each month.
You know you got a little extrasurplus in your account.
(20:56):
You just one or 200 bucks,1,000 bucks, whatever you want.
And if you're really small,just getting started out I don't
have any retirement we can setyou up with a Roth 401k or,
excuse me, a Roth IRA, excuse meand that's got some
requirements, minimals, you know, 7,000 or whatever year.
(21:17):
That's okay.
Speaker 3 (21:22):
It's okay, we can work with you, but all you're
saying is also us keeping ourmoney, protecting our money,
exactly, instead of just puttingit in the bank or in a savings
account.
You're saying, no, let's not dothat.
That's what you're saying.
So we're protecting our account.
Speaker 2 (21:33):
Now see, I can't say no, you can't either, because
everybody's different.
Some people like the idea ofhaving it in the bank because
it's more liquid.
If you've got it like in a CD,it's more liquid.
Six months you can take it out,okay, you know, and so there's.
It.
All depends on the individual.
I don't like to put blanketstatements out, because we've
heard people say that theannuity is bad.
Speaker 3 (21:53):
But it can be if it's not done right you're saying
that we're just listing thechoices for them, so the correct
.
That's an option compared toexactly, compared to just
putting in a savings account.
You have it there, you have anoption of where you put it here
and it's more protected and itwill grow for you, right.
Speaker 2 (22:10):
Correct.
Speaker 3 (22:11):
So that's where I was kind of going with, but I
understand what you're saying onthat.
So I guess, like I said, we'retrying to introduce this to our
business owners, because so manyof us just do our business and
we make our revenue but we donot take time to pull money to
the side.
And that's where you come in at.
I can tell you I have so muchmoney to work with and you can
work a plan with me that wouldhelp me to actually do the goals
(22:35):
.
That we come up with isbasically having some money in
retirement, because you know I'mnot so secure.
Speaker 2 (22:40):
Exactly, and there's also three ways we can look at
it.
Not just putting money away.
How do you want to do it Areyou looking for?
Are you looking for income okay, this could be income.
Or if you're looking for thegrowth, because if you're that
at that age where you're notready to retire but you want to
get the most, or if you want toset up a legacy, you've got kids
, grandkids, what have you?
So, yeah, there's, there's manyways we can take a look and
(23:02):
kind of guide you and help youmake the best decision you know,
and the great part is.
It's without mentioninganybody's name of who our
carrier is, because what thepoint of this is is to get you
set up and once we get, it'slike you make a sandwich, but
you got to put the ingredientstogether to make the sandwich.
You can't camp the sandwich,you know so if I'm giving you if
(23:25):
you, if I'm giving you the meatbefore I know what size of
bread we're going to use.
I do a lot of food analogies.
I'm so sorry, I'm a foodie,that's okay, I like food too,
doug.
Speaker 3 (23:35):
So this is where, like I said, I guess let's say
this part, if it's okay to putthis part in.
How do you get paid compared tosome of the financial advisors?
Because I have talked to somebusiness owners and I think
between me and you and nobodyelse, that it makes people
hesitate, it's like, oh, that'sjust another expense, I can't
really afford that.
So I guess they need tounderstand how do you work when
(23:58):
it comes to them having to payyou.
What does that look like?
Speaker 2 (24:01):
My consultations are free.
Speaker 3 (24:04):
There you go, you all , you heard him.
Speaker 2 (24:06):
My consultations are free.
The only I get paid from mycarriers.
On the back end there's nomonthly charge if you make money
or lose money with.
With what I do as a, as aconsultant, that's kind of the
main difference, I think,because with an advisor, you'll
make they'll, they'll get paid,whether you make money or lose
money.
And I kind of feel weird aboutmaking money on somebody's
(24:26):
losing money, right so right,but you know what it's kind of
feel weird about making money onsomebody who's losing money,
right so, but you know what it'skind of.
Our I partnered like I told youabout the company I partnered
with out in California, and theyinstilled in me that community
service is.
This is our way of giving backto a certain degree, because we
feel that all this informationwe're sharing, everybody should
have access to it, shouldn't payfor it, exactly.
Speaker 3 (24:45):
Exactly, exactly.
I agree.
So that way.
I'm saying that because I wantto emphasize that, because I do
want my business owners to reachout, hopefully, to you, don, as
a financial consultant, but ifnot, you a financial consultant.
Start with them is what I foundout that worked for me.
Started with a financialconsultant because it was
nothing I had to pay for and itwas based on where did we decide
(25:07):
to do?
Because it was nothing I had topay for and it was based on
where did we decide to do.
But what I liked about what Ihad was a plan that led me into
my investment side, but I hadsomeone that was not pushing me
to do this and pushing me to dothat it was more of let me
consult you, let's go throughwhat you want to do, and it was
more of a relaxed thing.
So I definitely encouragebusiness owners to start with a
financial consultant that worksfrom that way and then you can
(25:28):
progress up as you grow and asyou learn to do more.
I mean.
So that would be my suggestionto all of them.
So let's talk about the nextthing that you mentioned.
Before the 401k rollover, wehave business clients that have
worked for companies.
And now, with everything goingon now, don, people are having
(25:48):
to leave their jobs, they'regetting fired and they're kind
of thrust in doing for self.
So what do they do about a 401kor start a 401k?
I mean, what do they need to do?
Give us some suggestions onthat.
Speaker 2 (26:04):
Well, let me just kind of throw this at you.
A lot of business owners don'thave a 401k, unfortunately, and
there's a real opportunity ofskipping it, right?
What is the real cost of this?
Tens of thousands of dollars intax savings, right, compounding
growth, employee loyalty.
(26:26):
And here's what people aremissing tax savings right now.
Right, business owners candefer up to 68 000 a year.
That's in 2024.
Then, as I'm not sure if they'vegone up yet, I haven't looked
at it with a like a step, uh,single entrepreneur pension, um
or other.
There's other plans as well,that money they don't have to
(26:47):
pay taxes and instead invest inthemselves.
Um, skipping it, you end upoverpaying uncle salmon taxes.
The compound growth over time.
Right, we've talked about theiu around different annuities.
Um, it's a growth engine.
It's a tax shelter and delayingeven five years could mean
missing out on six figures infuture income.
(27:07):
So, and then you get theemployee retention, recruitment,
people.
People want the benefits.
Now, you may have benefits, andthat's good.
It's good to evaluate themevery so often.
Um, if you're a small companyI'm, I don't know if many of
them use uh, uh, they call pos.
(27:28):
I can't remember what theystand use.
They're called POs.
I can't remember what theystand for, but they're basically
companies that help people withtheir benefits.
So I think they do a lotin-house and this is something
we do.
We consult with businesses, tryto help them, guide them with
what's best fit for theircompany.
You know, we talk about thesmall businesses 20, 30, 40, 100
, a couple hundred.
That's what we do.
We help them with that and theattention and recruitment.
(27:50):
People say, hey, that's onearea that I think that would be
advantageous because they gotgood benefits.
Because I've had in my formercareer who had the best benefits
, salary's great, but if you gotgood benefits, that goes a long
way.
Speaker 3 (28:10):
At this point, the 401k now the rollover is for
individuals that actually leavethe company, but you can help
companies set up 401ks for theiremployees and things of that
nature.
Got it?
Speaker 2 (28:24):
Yes, ma'am, we help them or we're working on a new
program.
Right now I don't have all theinformation on yet, but we're
we're always adding.
When I say we, I include mypartner company, because they do
a lot of the the legwork for me, which is very, I'm very
thankful, because they're theones that kind of steer the boat
, if it will.
You know, anyway, the 401ks,the SEPs, the single employer
(28:51):
pensions, the Roth IRAs I keepsaying 401ks at that.
We're on a 401k topic, so Ithink my brain needs to slow
down.
But yeah, it's whatever theyneed we can help.
We've even got some.
One thing that we're runninginto with companies is employee
(29:14):
debt.
It's impacting how they performbecause they get, they're all
stuck with this in their headand we've been able to help
those companies, those companiesas well.
Speaker 3 (29:26):
That's the debt management you can do yes,
that's the debt side.
Speaker 2 (29:31):
Go ahead and add yes, yes, yes yes, okay, and it
doesn't cost anything forconsultation.
If you decide to sign up,that's a different story, but
it's all confidential.
The company doesn't know aboutit.
I just know who signed up.
I know nothing else, right?
So we offer that to them.
Company doesn't know about it,I don't.
I just know who signed up.
I don't nothing else, right?
So we offer that to them.
If they need wills and trust,we offer.
I don't do that.
(29:51):
I have a team of legalspecialists that take care of
that for us.
So there's a lot of areas thatpeople worry about that impact
the business, you know, becauseif they've got kids to go to
school or in school to get sickor whatever, it could be a
million different things.
But you get what I'm saying,though.
We have it with the business inmind, especially the smaller
(30:12):
businesses that don't reallyeither know where to go or they
feel like they're gonna have todrop a serious dime to do it.
Yeah, we have your back, we'rehere for you.
Speaker 3 (30:23):
Right, and that's the difference and that's why I was
saying I really wanna encourageeveryone.
Dunn will actually be on ourwebsite, tdjequityllcnet, where
you all can connect with him.
You can, if you want to Dunn,put it in the conversation, the
chat, your phone number andeverything, because we do want
(30:43):
you guys to reach out to Dunn,like you said, just to ask and
I'm saying this as a businessowner that's been in business
for over 20-something years,guys, when I tell you, I left
from working at the governmentCorps of Engineers to moving
into private sector, at Altair,to moving into actually getting
my own business, and this iswhere I found that, that role
that I was on.
(31:04):
I provided the benefits, andwhen I started my business, it
was years before I realized,whoa, I need to have something
set up for myself and I thought,just like you just said, it was
so expensive, I didn't want tofool with it.
So I'm telling you, don, you canmeet with him, he can start out
.
Whatever your budget is, youcan start with him.
Let him know.
But, guys, my thing is justdon't reach out or don't talk to
(31:27):
anybody while you're doing thisbusiness.
Let's try to allow, go in andat least talk and find out
what's out there to help us.
Now, one thing I know is youhave partnerships of.
What you work with is state andwheels.
Can you help us along thoselines as well, and how was that?
Speaker 2 (31:46):
Well, I don't know all the skinny language, all the
legal, but I can tell you thisyou need to leave your stuff Be
protected, because there's.
You heard about the superstarsand the legal issues they've had
.
I've heard stories I forget whoit was, but they had three
years they spent in probate.
How about you want my, myfamily, to get what, what's,
(32:09):
what's coming to them, quickerthan three years?
That's crazy, right, right.
And if you have a, it's good tohave an estate get your.
You know you can put your housein your estate.
I'm not legally speaking, butthese are just examples of
things I've heard about and justkind of my own research.
But I have a legal team oflawyers, a team across the
United States that can help youwhere you live.
(32:30):
They're licensed in your state.
These folks are doing a realgreat job of helping people
protect their families Because,in the end of the day, if you're
a business owner, most of youhave families, grandkids, et
cetera, and you want to makesure.
I call it the Rockefellereffect.
You know Rockefeller set up thething back in the day 1890s.
(32:52):
He set it up that they're stilldrawing money on it to this day
.
Speaker 3 (32:57):
Right.
Speaker 2 (32:58):
Which blows my mind.
How many ever generations laterthey're still able to access it
.
Speaker 3 (33:04):
And he's got a big trust, like that years ago, and
we can do it now.
That's what you're saying,exactly, yes, so and they and
our legal team can can help youdo that so that's why I think
you you know when we weretalking about this is that, uh,
I have had financial advisorsand other people on the show
cpas and all that but the factthat you're a financial
(33:26):
consultant, you're're like no,Jackie, I will go through and
lay it out.
I'm like God, we got to pay youfor everything you do.
You're like no, no, no, youdon't have to pay me.
What I'm going to do is sitdown with you it don't matter
and see, this is really great,because you know what A lot of
(33:48):
us that that's.
Go talk to Dunn.
You know I got to have my stufftogether.
Okay, how about that one?
And that's not the thing.
That's what you're there for tohelp us to put it together.
So, guys, even if you have somuch of a revenue that's
happening, but you do have arevenue you want to go in and
start with Dunn so he can showyou how you can start taking
some of that money and startsetting stuff up that you can
(34:08):
see down the road.
That's the big thing about you,because you do have
partnerships you are a financialconsultant that work for them,
but you can get them in touchand get them connected with all
the people that can help them.
Like you said, the debtmanagement and estate wills.
If you did, I did have someonesend something to me and ask if
you could explain more, explainmore how your debt management
(34:29):
like a business having debtmanagement.
She said what is that and howdoes that work?
Speaker 2 (34:35):
That's a little different for businesses than it
is for individuals.
Speaker 3 (34:38):
So if you have a business, everybody's business,
that's talking.
Speaker 2 (34:40):
Right, right, but for this case, if you have a
business because a lot of peoplehave had businesses fail I mean
a lot of business and if youyou have a business because
there's a lot of people have hadbusinesses fail I mean a lot of
business and if you've got abusiness that's failed, then we
can, we can help you with that.
If it's an active business, I'mnot so sure, but personal, it's
no problem.
So that's kind of a littlesticking point right there with
that okay.
Speaker 3 (34:58):
so when you that, I'm interested.
So when a when you say abusiness failed me, like if you
had to close your businessbecause of correct, because of
of COVID, something like COVID,exactly, yeah, yeah.
And you don't want that topersonally go after you, so what
you want to do is what Get withyou to help deal with the debt,
instead of just walking awayand living alone They'll help
you with the business.
Speaker 2 (35:19):
If you've lost your business in COVID, perfect
example, and his business isclosed down, you can call us and
say, look, I got whatever thosebills are.
Can you help me out?
I was like I'll set you up withthe specialist and they'll be
able to walk you through whatthey can and can't help you, and
we've had a couple of themwhere they save significant
amount of money to get them outof it and they take care of that
(35:40):
yeah.
Speaker 3 (35:41):
See.
So that's definitely something,something we need to know.
That's what I'm saying.
We don't know this stuff, doug,until you say something to us,
so we do.
Speaker 2 (35:48):
And if you got student loans?
If you got student loans andyou're out of school and don't
have no plan to go back, we canhelp you out with that too.
Speaker 3 (35:56):
That's the individual side, or just yeah?
I mean business owners go toschool.
I mean, I went to school too,so but I'm saying, do you do?
Can you do an individualcalling you for debt and can you
do a business owner calling youfor debt?
Both?
Yes, that's what I'm saying.
That's what I'm saying OK.
Ok, that's good, so you can dodebt management for individuals
and stuff.
But even though I know that'snot think about it, that's what
(36:18):
you are.
It's just we've turned it wherebusiness people can know
something.
But definitely we wantindividual people to know too,
to reach out to Don as well,because you can kind of help us
on that individual journey ofgetting ourselves together.
Speaker 2 (36:32):
Oh yeah, we do a lot of a lot of individuals,
families and businesses.
But you know the businesscommunity we're kind of like my
niche, if you will, and you knowhelping them save money.
Like I mentioned briefly, thesupplemental program we have.
When you talk about savingmoney, we've got a 120, you know
the Section 125, the IRS code.
It's basically a tax code tohelp businesses save money in
(36:59):
payroll taxes.
Mars does.
It gives the employer a $500credit for each employee they
have, puts 50 to 60 bucks backin their employee's pocket.
Plus, it provides atelemedicine app that includes
mental health and a dedicateddoctor nurse at no additional
(37:21):
cost as well, at a net zero costto your company.
And oh, by the way, my companytakes care of all the
administration, theimplementation and all that kind
of good stuff.
Speaker 3 (37:30):
Wow See.
Speaker 2 (37:31):
And I'm working with a company right now that, if it
works out, we're in a verystrong possibility.
They'll save a million dollarsa year in payroll taxes.
Wow, and their people will gettaken care of.
Here's one story for you Withthis program, what it does your
health insurance is I'm going touse my hands, I'm a
demonstrative guy your healthinsurance is the castle.
(37:56):
What our program does is themost Because it helps cut back
on health care costs, becauseyou know the prescription costs
will get you and sitting in thedoctor's office and you know,
having a dedicated telemedicinedoctor, nurse, whatever, when
you're two o'clock in themorning, got a sick kid.
We had a lady who had spent herpreviously spent forty hundred
(38:16):
dollars on medical expenses forher and her three kids.
This was two years ago.
Last year she spent twelve.
Wow, because here's the thingtoo, if you've already got
health care, what this onlinemethod will do, they'll work
with your doctor you havethrough your health care.
So if you're sick at 3 o'clockin the morning, your kid's sick,
(38:38):
they'll help set you up anappointment for the next day so
you can get in there.
And the prescriptions are verylow cost wholesale costs of
thousands of different ones forinsulin and all that kind of
good stuff, which you know arenot basically used.
Speaker 3 (39:02):
It's just options out there we're not aware of and,
like you said, the forty eighthundred dollar woman just kept
it going until she got you guysand found out.
We can say, and that's what,giving power back to the web
series about educating people,what's out there and how you can
reach out we're not justputting it out here.
You guys can reach out to Donand get that kind of worked out.
So let me ask you this, don,before we get off and everything
, what is something?
And I want to give thisopportunity.
I want you to give something,your last words of encouragement
(39:25):
or what you want to say tobusiness owners, to give
something, your last words ofencouragement or what you want
to say to business owners.
And then I want you to give mea last word encouragement for
people as individuals andpersons as well, for working
with financial consultants.
Speaker 2 (39:36):
For business owners, I want to say I hope this has
been educational.
If you know it already, that'sgreat, but 90% of us don't, and
you don't know what you don'tknow.
It's nobody's fault, right, butI commend you for being where
you are in your journey.
It may not be where you are, Imean, I'm not where I want to be
, though, but the fact that youtook that step and I want to
(39:58):
encourage you to build yourbrand, take care of yourself and
your employees, and I wish youmuch success.
Speaker 3 (40:08):
Okay, that's for the business owners.
Speaker 2 (40:10):
And for the individuals.
Hey, you've got to take care ofthose families.
I've got a family, you've got afamily and we can help you.
You've got a college planning.
You want to plan to get yourestate?
You've got debt that's justdriving you nuts.
We can help you.
These are things that are veryimportant to us.
Life insurance is whateverybody thought what insurance
(40:31):
was.
When you think of it, you thinkof the guy from Groundhog Day.
The guy would come botheringyou.
Times have changed.
We don't do that.
We enjoy building relationshipswith folks and we want to be
here for you and we wisheveryone the best of luck in
their endeavors.
And you know we work with a lotof different folks and I'm not
(40:54):
for everyone.
I get that.
I have a personality that canbe a little much at times, but I
got a big heart to help peopleand I look forward to hearing
from you if you need me.
Speaker 3 (41:08):
All right.
Well, we want to thank you, Don, so much for your information.
I know we always have a lot of.
We just have a little bit oftime we try to put in so much.
So we have to kind of keep itgoing and I thank you for
dealing with my break-ins andbreak-outs that I do, but I'm
trying to move us through,appreciate you, you follow along
just great.
What I want to say to everybodyfor some practical takeaway with
this, that I know in the worldwe're dealing with the financial
(41:31):
advisor and financialconsultant, what I want each
person to always do let's lookat what the financial advisor
has, the financial consultant,what their experience they have,
what they can offer to us basedon their services.
It's not just a title, but sitdown and talk to whoever you're
looking at Like I said, Mr Dunngave us a lot about him and see
(41:53):
if it's a match for you.
What I don't want us to do asbusiness owners we need to stop
not doing anything.
That's what we hope this givesyou.
Encourage you guys not to andto reach out to us.
Again, Dunn done.
Thank you for being here and Iappreciate you.
Yes, so you want to saysomething?
Speaker 2 (42:10):
go ahead one quick thing to you, to the business
owners go ask your advisor if hecan put guarantees and writing
for you for your money, okaywell, thank you again, mr dunn,
for being here.
Speaker 1 (42:23):
We appreciate you so much, you all have a good day.
Speaker 3 (42:26):
Yes, thank you, you all have a good day.
Yes, thank you, you all have agood day.
And until next time, on GivingPower to the Business Owner, we
will see you then.
Y'all have a great day, bye-bye.
Speaker 1 (42:38):
We hope you enjoyed this episode of TDJ Equity
Funding Insiders Podcast.
If you'd like to be a guest orget in touch with us, please
visit our website attdjequityllcnet.
Forward slash podcast or emailus at podcast at
tdjequityfundinginsidersnet.
Until next time, take care.
Ready to get the inside scoop on equity funding?
Tune in to TDJ Equity FundingInsiders Podcast for an in-depth
look at what it takes to accessfinancial capital and maximize
your investments.
Hear from experiencedprofessionals, including bankers
, underwriters, loan officersand industry experts, as they
(00:36):
share their unfiltered storiesand valuable lessons on securing
funds securing funds.
Speaker 3 (00:48):
Welcome to the Business Owner Webinar Series.
And today we have our specialguest, which is Dunn Workman.
And Dunn is a financialconsultant.
But we wanted to bring thisseries to you guys so you all
can be aware of what we're goingto talk about and mainly
because you all need tounderstand it.
If you are business owners,this is what this is catering to
, so we can kind of educate youon what's out there as far as
(01:11):
protecting you, because a lot ofus are leaving W-2 companies
okay, and a lot of us have neverworked for ourselves before.
You're used to that benefitpackage being available for you.
Well, now things are going tochange because that benefit
package needs to come directlyfrom you.
So what Don is going to give ustoday is show how you can make
(01:31):
your money, which basicallythat's what you do, but he's
going to show you how to keepyour money to make sure that
you're having a retirement setup.
He's going to give us someideas of how we should do as far
as taking care of ourselves asbusiness owners.
So if you all would, let'swelcome Don into our webinar and
our show today and, don, if youwould give us a little bit
(01:53):
about your background and againwe want to welcome you for being
part of this series.
Speaker 2 (01:59):
Good afternoon, jackie, and thank you for having
me Again.
My name is Don Workman.
I live here in the Dallas-FortWorth area with my wife of 37
years let's see, two weeks willbe 37 years.
We've got two grown daughtersand a son-in-law, and my
business is called WealthGuardSolutions.
I'm in the middle of getting mywebsite redone so we'll get
that all scheduled and stuff.
(02:20):
We're growing, we're gettingthere, we're making some good
things happen.
I work with a good company outof California, but we'll just
kind of keep this simple.
But I've been in business about35 years and I've been in a
financial consultant for thelast five years and what I've
(02:42):
found is why would you get intothis kind of business?
Because, like you as anentrepreneur, you found
something you were passionateabout and I love helping people
as a man of faith.
I said I want something I cando to help my family, but I also
want to help those businessowners.
You know most of the businessesI help are like 20 people or
(03:02):
more, but you know what thesmall businesses are, the ones
that are the lifebloods of ourcommunity.
I think you'll agree that manyof these small businesses are
the ones that keep our familiesafloat, keep our neighborhoods
uh, going and build, and youknow down here where I live, the
small businesses are really thelifeblood of our community so
(03:23):
I'm really, really not just tocut you out, but what of our
community?
Speaker 3 (03:25):
So that's why we really not to cut you out, but
what we really have to do.
That's what the show is aboutthe small business.
So let's step in some thingsthat a lot of small business
don't understand and kind ofwork with that.
Now we know we want to talkabout starting off as a business
owner that have been inbusiness, is it a certain time?
First of all, let's talk aboutwhat you provide to the business
(03:47):
owner as a financial consultant.
What could you provide for them?
Speaker 2 (03:53):
Oh, okay, great, I've actually met.
Just a quick story I've metwith a CEO fractional CFO the
other day and he asked me asimilar question.
Cfo the other day and he sayshe asked me a similar question.
You know, if you have partners,one of the things that I look
at is a buy-sell agreement.
Okay, what is that?
(04:13):
We can talk about that in moredetail.
Another thing is if you've gotkey personnel, so if you've got
somebody who's very integral toyour part of what you do.
Speaker 3 (04:27):
You know that's somebody you're going to want to
.
You're going to protect thatExactly Like and I've worked
with you before, so I know likeyou can help them with insurance
and so on that part, when youwant to see what type of
insurance you need to get foryour business, I find that you
can.
Your business as a financialconsultant can help.
You can also and we're going totalk in detail of this we can
also help with your annuitiesand also with the 401k plan,
because remember, like I toldyou before, that we're now
(04:50):
leaving that company where wealready had benefits.
How do we set up our ownbenefits?
Now let me say this to break inso everybody can understand you
have your financial advisorsWe've heard of those and then
you have a financial consultant.
So what is the differencebetween and I want to get
opportunity done between afinancial advisor compared to a
financial consultant?
Speaker 2 (05:12):
OK, just some real basic things.
The financial advisor he getspaid every month whether you
make money or not.
I don't have that.
I don't have that luxury.
I don't do that because a lotof times they work in stocks and
securities and I don't work inthose.
What I do, I work in principalprotection products which would
(05:34):
revolve around the lifeinsurance companies.
We talk about the annuities andthe IULs and things like this.
Those are the things that wehelp folks with that protect
their principal and not have tohave a lot of the tax strategies
to help them protect them fromall the different tax laws are
out there.
And there's another thing Onething that happened in the last
(05:55):
downturn in the economy was likelast November and a lot of
people lost money.
I can say that none of myclients lost money last November
, so I think that's a big that'ssomething pretty big to have
that.
Speaker 3 (06:08):
But what we want to do is kind of more talk in
general of educating everybodywith how the financial
consultant work and how theadvisor work.
Now, I know you might can'ttalk on advisor because you're
not a financial advisor, so I dowant to give everybody you did
mention that it's more on thewhere they want to do
investments and things of thatnature.
(06:29):
You're more of the I guess,stable part of what you want to
start with, am I correct?
Maybe insurance, annuity andkind of like that to protect
ourselves for retirement, wouldyou be more?
Speaker 2 (06:40):
in that Partially you can start or you could be
toward the end, because a lot ofus, partially you can start or
you could be toward the end,because a lot of us, you know
you've got your rollovers andall that which we'll get into.
But as a new business owner, um, and if you've got employees,
we can help you with those sortof things set up a 401k or
whatever kind of retirement andlife insurance.
Even as a financial financialadvisor, he'll deal primarily in
(07:03):
financial type of stuff stocks,bonds Whereas I can help you
with some of that.
But I can do a lot of insuranceas well.
So we can do life insurance foryou, for your business, for
your employees, for your family,for your children.
And you know we do more estateplanning, college planning, but
the retirement planning, whichis huge for our we're learning
(07:24):
that and this is probably knownto your audience that 75% of our
business owners are, you knowthey're small businesses,
they're underinsured, that'sright.
You know that's something youhave to protect yourself as a
business owner and I thinkthat's part of the key things
that make it different, becausewe offer a little bit more.
(07:44):
That's part of the key thingsthat make it different, because
we offer a little bit more andit's not downplaying anything
those guys do because they servea purpose and we work with a
lot of those folks because weencourage people to diversify.
So say, if you've got $100,000and you've got it in the market,
but I want to protect some ofthat, I say 20, 20 to 30%.
So if you had $100,000, you put20 to 30% in something that
(08:08):
protects your principal againstthe downsides of the market.
Speaker 3 (08:18):
I think that really puts you in a good position to
not have to worry aboutscrambling should the market
have a bad day.
Let me ask you a question.
Then you had mentionedsomething about you were not in
the financial side, but itsounds like you mentioned a
financial side.
So the financial advisor?
Let me explain this for us thefinancial advisor can handle the
stocks and investments, can younot handle?
You don't handle theinvestments in the stock part,
right?
Speaker 2 (08:38):
You have to be licensed, correct?
But I do know some folks thatwill do that.
That I trust.
Speaker 3 (08:44):
But most of the folks we're just talking about you,
so what you all do right as aconsultant.
Speaker 2 (08:48):
99% of the people I want, they want what I have,
they have their guy and that'scool.
So what they do there is fine.
Speaker 3 (08:56):
But Don let's say this it's not interrupting, but
what we want to say is you also,because you are a financial
consultant, you have attachmentsor relationships with people in
those fields that you can guidethem.
Now let me say this about youguys so they can understand this
about you With a financialconsultant, he's kind of like a
planner.
You bring what you have goingon with your business and what's
(09:20):
happening with you.
He can help plan it out anddirect you.
It's things that he canactually do help you with
insurance, annuity and 401.
But there are other things thatyou need to do to protect
yourself and your money.
He has that partnership.
Am I correct that you canactually connect them to all
those people as well?
Speaker 2 (09:37):
Correct.
Think of it like a generalcontractor.
He's going to build your house,but he's going to have a sub
that's going to be a plumber,electrician what have you that
he's going to trust?
And the same goes for us, too,because there comes a time where
I do need that expert in thestock market and they want to do
that kind of thing.
(09:58):
Not very often, but when thetime comes, I have those
resources available.
Speaker 3 (10:02):
Right, right, and that's what everybody
understands, so let's talk aboutit.
When it comes to we're going totalk about the insurance
annuities in a 401k, if youwould give us when it comes to
insurance and having a business,what type of insurance should
the business owners look for forthemselves?
Speaker 2 (10:18):
Okay, We've got a few that we recommend for folks.
The first one is generalliability insurance right, but
what that covers is your thirdparty bodily injury, property
damage, legal defense costs,because if you've got a little
warehouse or a little businessand somebody gets hurt on your
property, that could be pricey,right.
(10:39):
Yeah, why does that matter,though?
It's foundational coverage, sothis is like the bare bones,
basics, right, and one slip andfall in a lawsuit could
financially devastate a business, especially a small business,
and what it covers is yourbuilding, your equipment,
physical assets, fire, theft,vandalism and weather-related
damages.
Speaker 3 (10:58):
So that's just our general liability.
Okay, that makes sense.
What's the next one we shouldget?
You think we should have?
Speaker 2 (11:03):
Okay, let's say, a workman's comp right, you've got
employees right.
What does that do?
Medical expenses and lost wageswe're familiar with that to a
certain degree.
It's lost wages for youremployees and the employee
liability for the workplaceinjuries.
That happens more times than weprobably want to talk about.
(11:23):
And why does it matter?
It's required in most states.
It protects both the employerand employee financially if you
have an on-the-job injury.
Speaker 3 (11:36):
Right, which I work with that.
Now let me ask you this Allthis that you're mentioning,
they can go through you and youcan help get it right, right um
those not so much I partnershipyeah, yeah, yeah, okay, okay.
So you have partnerships to kindof help, like I say, he's a
consultant guys, he can actuallyhelp direct you, which means
we'll talk about how he get paid, which made a big thing for us
(11:58):
starting off his business, howhis business actually worked.
So what's the next one I knowyou and I talked about like the
insurance they should get aperson like UI I think it's UI,
you said or IU, in type ofinsurance.
Speaker 2 (12:13):
Well, we're going to start with the generalized topic
that we're on.
The next one is theprofessional liability insurance
, which we use as an error andomission.
Now, that tends to go towards.
If you're a consultant advisorLike myself, that helps you
Claims against negligence,mistakes or misused services,
(12:36):
and I can tell you here in thestate of Texas, if you get
caught with fraud, it is notcheap.
Speaker 3 (12:42):
What is that?
Speaker 2 (12:43):
one Don that one's called the E&O Errors and
Omissions Insurance.
E&o Insurance, okay, Got youand that boasts retention,
morale, tax efficiency, you knowthat kind of thing.
So it's a good one and verynecessary to have.
The next one is the cyberliability.
(13:03):
Now, this one you may or maynot be aware of that's a new one
In recent years.
Yeah, the small, even the smalltown, is starting to get cyber
crime divisions because peopledon't seem to have nothing else
to do but break into companies.
And what does that do that?
You know it protects youagainst data breaches,
ransomwares, malwares, cyberattacks.
(13:24):
One data breach can reallyimpact your trust.
Okay, and you know I had thatbefore.
I must say I admitted a coupleyears ago I had that somebody
hacked in and got my client'sinformation and that was ugly.
So if you have any kind ofintellectual property that you
have, I would advise stronglyand I don't't do that.
(13:47):
But there are some goodcompanies out there.
Speaker 3 (13:50):
Okay, thank you, okay .
So what do you think we need?
Speaker 2 (13:55):
Those are the basic things.
I think the next thing weprobably should talk about a
little bit would be thedifference between really being
covered because I got coverage,but are you protected?
You know, that's something thatwe can probably dive into a
little bit more.
Really being covered because,oh wait, I got coverage, but are
you protected, that's somethingthat we can probably dive into
a little bit more.
Speaker 3 (14:12):
Okay, well, let's do this before we go there, don, I
want to mention to everybody Iknow you didn't talk on it, but
I'm going to say it from mypersonal, being a business with
everything he's saying, which iswonderful we really need to
look at life insurance as abusiness owner, not a life
insurance just to be paying fora policy, just to pay to be
covered.
But they have life insuranceout here that you can actually
(14:33):
do it as an investment and getsome type of return on what you
put in.
And they're called theuniversal insurance policy.
Is that right?
Speaker 2 (14:39):
It's indexed universal life and we were going
to get into that.
I just wasn't.
Speaker 1 (14:43):
I wasn't sure.
If you want to, tackle that nowshe's ready.
Speaker 3 (14:47):
Okay, because it goes along with all the insurance
that we kind of talked on, and Ijust don't want to miss that
because I've seen that happenbefore and I want us to make
sure we get it.
So I do want them to know aboutthat insurance because we let
me tell you something, don, andyou probably know it too as
business owners, we in ourbusiness we got our head down
and we working real hard and welook up 10, 20 years later and
(15:09):
some things we have not put inplace.
So I realized that type,instead of me doing whole life
insurance which that was betterthan term life what was better
than whole life was havingsomething I can invest in and I
can pull money out if I need it.
So that's why I wanted to makesure they knew that was out
there and that was available.
That's why I brought it at thattime.
Speaker 2 (15:28):
Sure, we can tackle that a little bit.
Speaker 3 (15:31):
That's okay, I've already tackled it.
You can go to the next one,okay.
Speaker 2 (15:38):
Well, let me kind of expound a little bit for you,
because what it really is, it'sa life insurance poly with
tax-deferred growth andprotection from the downside of
the market, and it has permanentinsurance.
Here's the thing With terminsurance you're paying, you
know it goes up.
I had this recently where I waspaying $60-some dollars and
when I hit $60, I look at it itwould go up to $1,000.
(15:59):
This policy does this, thiswon't do that, and it comes with
living benefits.
Now, a lot of companies willsay they have living benefits,
but it's typically just terminal.
I've got a partner that doesterminal life insurance chronic
injury or illness, criticalinjury and they just had one,
(16:19):
for they just added Alzheimer's.
If you've got Alzheimer's whichGod help those folks that do.
I've got a parent with dementiaand I wish this had been around
for him and you know these arethings that they're added to the
policy with no additional costto you and what will happen is,
at each stage, there's apercentage of your check of your
(16:41):
policy that will be turned overto you so you can use it for if
you need to do medical.
So if you're terminal, we'lljust use terminal to you so you
can use it for if you need to domedical.
So if you're terminal, we'lljust use terminal uh.
If you're terminally ill for 24months, you got uh.
They'll give you 90 of whateveryou have uh, so you can take a
trip, fix your house, whateveryou need to do, no questions
asked.
And it's really, really been agreat selling point for uh many
(17:04):
of my my colleagues and I as wedeal with our clients,
regardless if it, regardless ifit's a business or it's a family
, because you know whatProtection is huge and
everywhere you can get something.
That's a valuable tool and itdoesn't break the bank.
That's always an asset.
Speaker 3 (17:18):
It is and, like you said, I know you say it's a
selling point for you guys, butfor me, as a business owner, it
is a point that I think businessowners need to have.
We need to look at it becauseof what it offers.
Ok, that's what I think isgreat.
So let's talk about oh goodness, this was great.
The next thing that I know youkind of focus on is annuities.
What is annuities?
What's an idea to have anannuity, and why Can you explain
(17:40):
that to us?
Speaker 2 (17:42):
Annuities.
This is this is a tough one.
I don't know if everybody'sready for this one.
What is an annuity?
It's a contract between thelife insurance company and the
policyholder.
So one company we work with hasbeen around since like the
right around the Civil War, andthey have.
They're standalone, they don'thave outside investors, but what
(18:03):
they do is they have greatpolicies and great customer
service.
And so when I say that they'rethe life insurance company, if a
life insurance company putstheir name to something, you're
going to expect them to hold onto it.
They're going to hold theirword and they do every step of
the way.
Speaker 3 (18:22):
And I you know.
Ok, you know you're trying tosell a company right now, right,
Don?
Speaker 2 (18:26):
I'm trying to not sell, but I am already All right
.
Speaker 3 (18:29):
So come on, let's bring it back.
So let's talk about annuities,because we know you've got good
companies, that's why you'rehere.
But so annuities is a contractbetween you and the insurance
company, right, correct?
How do we make money?
How do we invest in it?
How?
Speaker 2 (18:43):
does it work In general?
How?
Speaker 3 (18:44):
this works in general .
Speaker 2 (18:44):
Just a general thing we're going to use the IUL
because you brought it up, whichwould be, great, because what
happens is you've got a companythat's got thousands of
policyholders.
All the money goes in a big tube, policies, you know billions of
dollars.
What they do is they put a cap.
They'll put a cap of like, say,we'll use 15% up top and a cap
(19:04):
of zero, so they'll put yourmoney in the market.
Okay, and the market has agreat day.
It has 30%.
You know what You'll get that15% and this is how the company
makes money.
That other 15% goes to theinsurance company.
That's how they make theirmoney.
So then, on the flip side ofthat, you got zero.
(19:25):
Okay, the market has a terribleday and it loses 10 points.
Guess who takes the hit?
The insurance company.
So you get your stays at zero,and I like to look at it as like
zero is my hero, because I'drather be at zero than lose
money, because to lose 10% yougotta get 20% back just to make
(19:46):
something, and it doesn't alwayscome that quick.
Speaker 3 (19:48):
Right, right.
So annuities is something.
When do you think we need toget those as business owners?
Okay, so we get insurance.
Let's say we get the insurancesthat you say we need,
especially the cyber, okay.
So then it comes to annuity,because it's what, like a little
investment I need to look at.
Is that how I look at that?
It's like it's a littleinvestment with my money, where
it's making money for me, or howshould I look at the annuities?
Speaker 2 (20:10):
It's totally.
It's on a case by case basis.
If you've got like an old rule,let's use that, because you can
take that and put it into anannuity and what we call a
single premium to where you justput that in there and let it
grow in the.
We're seeing an average abouteight to 12 percent on returns
and you could put that in there.
It will put us in atax-deferred program.
(20:32):
You won't get to stop to paytaxes because Uncle Sam's funny
about their money, but you'll beable to make that money and
sock more of that away than loseit to taxes.
And so we're finding that tool.
Or, if you're starting out,here's the thing too.
You talk about little money.
You can start out with a littlemoney and you just pay a little
bit each month.
You know you got a little extrasurplus in your account.
(20:56):
You just one or 200 bucks,1,000 bucks, whatever you want.
And if you're really small,just getting started out I don't
have any retirement we can setyou up with a Roth 401k or,
excuse me, a Roth IRA, excuse meand that's got some
requirements, minimals, you know, 7,000 or whatever year.
(21:17):
That's okay.
Speaker 3 (21:22):
It's okay, we can work with you, but all you're
saying is also us keeping ourmoney, protecting our money,
exactly, instead of just puttingit in the bank or in a savings
account.
You're saying, no, let's not dothat.
That's what you're saying.
So we're protecting our account.
Speaker 2 (21:33):
Now see, I can't say no, you can't either, because
everybody's different.
Some people like the idea ofhaving it in the bank because
it's more liquid.
If you've got it like in a CD,it's more liquid.
Six months you can take it out,okay, you know, and so there's.
It.
All depends on the individual.
I don't like to put blanketstatements out, because we've
heard people say that theannuity is bad.
Speaker 3 (21:53):
But it can be if it's not done right you're saying
that we're just listing thechoices for them, so the correct
.
That's an option compared toexactly, compared to just
putting in a savings account.
You have it there, you have anoption of where you put it here
and it's more protected and itwill grow for you, right.
Speaker 2 (22:10):
Correct.
Speaker 3 (22:11):
So that's where I was kind of going with, but I
understand what you're saying onthat.
So I guess, like I said, we'retrying to introduce this to our
business owners, because so manyof us just do our business and
we make our revenue but we donot take time to pull money to
the side.
And that's where you come in at.
I can tell you I have so muchmoney to work with and you can
work a plan with me that wouldhelp me to actually do the goals
(22:35):
.
That we come up with isbasically having some money in
retirement, because you know I'mnot so secure.
Speaker 2 (22:40):
Exactly, and there's also three ways we can look at
it.
Not just putting money away.
How do you want to do it Areyou looking for?
Are you looking for income okay, this could be income.
Or if you're looking for thegrowth, because if you're that
at that age where you're notready to retire but you want to
get the most, or if you want toset up a legacy, you've got kids
, grandkids, what have you?
So, yeah, there's, there's manyways we can take a look and
(23:02):
kind of guide you and help youmake the best decision you know,
and the great part is.
It's without mentioninganybody's name of who our
carrier is, because what thepoint of this is is to get you
set up and once we get, it'slike you make a sandwich, but
you got to put the ingredientstogether to make the sandwich.
You can't camp the sandwich,you know so if I'm giving you if
(23:25):
you, if I'm giving you the meatbefore I know what size of
bread we're going to use.
I do a lot of food analogies.
I'm so sorry, I'm a foodie,that's okay, I like food too,
doug.
Speaker 3 (23:35):
So this is where, like I said, I guess let's say
this part, if it's okay to putthis part in.
How do you get paid compared tosome of the financial advisors?
Because I have talked to somebusiness owners and I think
between me and you and nobodyelse, that it makes people
hesitate, it's like, oh, that'sjust another expense, I can't
really afford that.
So I guess they need tounderstand how do you work when
(23:58):
it comes to them having to payyou.
What does that look like?
Speaker 2 (24:01):
My consultations are free.
Speaker 3 (24:04):
There you go, you all , you heard him.
Speaker 2 (24:06):
My consultations are free.
The only I get paid from mycarriers.
On the back end there's nomonthly charge if you make money
or lose money with.
With what I do as a, as aconsultant, that's kind of the
main difference, I think,because with an advisor, you'll
make they'll, they'll get paid,whether you make money or lose
money.
And I kind of feel weird aboutmaking money on somebody's
(24:26):
losing money, right so right,but you know what it's kind of
feel weird about making money onsomebody who's losing money,
right so, but you know what it'skind of.
Our I partnered like I told youabout the company I partnered
with out in California, and theyinstilled in me that community
service is.
This is our way of giving backto a certain degree, because we
feel that all this informationwe're sharing, everybody should
have access to it, shouldn't payfor it, exactly.
Speaker 3 (24:45):
Exactly, exactly.
I agree.
So that way.
I'm saying that because I wantto emphasize that, because I do
want my business owners to reachout, hopefully, to you, don, as
a financial consultant, but ifnot, you a financial consultant.
Start with them is what I foundout that worked for me.
Started with a financialconsultant because it was
nothing I had to pay for and itwas based on where did we decide
(25:07):
to do?
Because it was nothing I had topay for and it was based on
where did we decide to do.
But what I liked about what Ihad was a plan that led me into
my investment side, but I hadsomeone that was not pushing me
to do this and pushing me to dothat it was more of let me
consult you, let's go throughwhat you want to do, and it was
more of a relaxed thing.
So I definitely encouragebusiness owners to start with a
financial consultant that worksfrom that way and then you can
(25:28):
progress up as you grow and asyou learn to do more.
I mean.
So that would be my suggestionto all of them.
So let's talk about the nextthing that you mentioned.
Before the 401k rollover, wehave business clients that have
worked for companies.
And now, with everything goingon now, don, people are having
(25:48):
to leave their jobs, they'regetting fired and they're kind
of thrust in doing for self.
So what do they do about a 401kor start a 401k?
I mean, what do they need to do?
Give us some suggestions onthat.
Speaker 2 (26:04):
Well, let me just kind of throw this at you.
A lot of business owners don'thave a 401k, unfortunately, and
there's a real opportunity ofskipping it, right?
What is the real cost of this?
Tens of thousands of dollars intax savings, right, compounding
growth, employee loyalty.
(26:26):
And here's what people aremissing tax savings right now.
Right, business owners candefer up to 68 000 a year.
That's in 2024.
Then, as I'm not sure if they'vegone up yet, I haven't looked
at it with a like a step, uh,single entrepreneur pension, um
or other.
There's other plans as well,that money they don't have to
(26:47):
pay taxes and instead invest inthemselves.
Um, skipping it, you end upoverpaying uncle salmon taxes.
The compound growth over time.
Right, we've talked about theiu around different annuities.
Um, it's a growth engine.
It's a tax shelter and delayingeven five years could mean
missing out on six figures infuture income.
(27:07):
So, and then you get theemployee retention, recruitment,
people.
People want the benefits.
Now, you may have benefits, andthat's good.
It's good to evaluate themevery so often.
Um, if you're a small companyI'm, I don't know if many of
them use uh, uh, they call pos.
(27:28):
I can't remember what theystand use.
They're called POs.
I can't remember what theystand for, but they're basically
companies that help people withtheir benefits.
So I think they do a lotin-house and this is something
we do.
We consult with businesses, tryto help them, guide them with
what's best fit for theircompany.
You know, we talk about thesmall businesses 20, 30, 40, 100
, a couple hundred.
That's what we do.
We help them with that and theattention and recruitment.
(27:50):
People say, hey, that's onearea that I think that would be
advantageous because they gotgood benefits.
Because I've had in my formercareer who had the best benefits
, salary's great, but if you gotgood benefits, that goes a long
way.
Speaker 3 (28:10):
At this point, the 401k now the rollover is for
individuals that actually leavethe company, but you can help
companies set up 401ks for theiremployees and things of that
nature.
Got it?
Speaker 2 (28:24):
Yes, ma'am, we help them or we're working on a new
program.
Right now I don't have all theinformation on yet, but we're
we're always adding.
When I say we, I include mypartner company, because they do
a lot of the the legwork for me, which is very, I'm very
thankful, because they're theones that kind of steer the boat
, if it will.
You know, anyway, the 401ks,the SEPs, the single employer
(28:51):
pensions, the Roth IRAs I keepsaying 401ks at that.
We're on a 401k topic, so Ithink my brain needs to slow
down.
But yeah, it's whatever theyneed we can help.
We've even got some.
One thing that we're runninginto with companies is employee
(29:14):
debt.
It's impacting how they performbecause they get, they're all
stuck with this in their headand we've been able to help
those companies, those companiesas well.
Speaker 3 (29:26):
That's the debt management you can do yes,
that's the debt side.
Speaker 2 (29:31):
Go ahead and add yes, yes, yes yes, okay, and it
doesn't cost anything forconsultation.
If you decide to sign up,that's a different story, but
it's all confidential.
The company doesn't know aboutit.
I just know who signed up.
I know nothing else, right?
So we offer that to them.
Company doesn't know about it,I don't.
I just know who signed up.
I don't nothing else, right?
So we offer that to them.
If they need wills and trust,we offer.
I don't do that.
(29:51):
I have a team of legalspecialists that take care of
that for us.
So there's a lot of areas thatpeople worry about that impact
the business, you know, becauseif they've got kids to go to
school or in school to get sickor whatever, it could be a
million different things.
But you get what I'm saying,though.
We have it with the business inmind, especially the smaller
(30:12):
businesses that don't reallyeither know where to go or they
feel like they're gonna have todrop a serious dime to do it.
Yeah, we have your back, we'rehere for you.
Speaker 3 (30:23):
Right, and that's the difference and that's why I was
saying I really wanna encourageeveryone.
Dunn will actually be on ourwebsite, tdjequityllcnet, where
you all can connect with him.
You can, if you want to Dunn,put it in the conversation, the
chat, your phone number andeverything, because we do want
(30:43):
you guys to reach out to Dunn,like you said, just to ask and
I'm saying this as a businessowner that's been in business
for over 20-something years,guys, when I tell you, I left
from working at the governmentCorps of Engineers to moving
into private sector, at Altair,to moving into actually getting
my own business, and this iswhere I found that, that role
that I was on.
(31:04):
I provided the benefits, andwhen I started my business, it
was years before I realized,whoa, I need to have something
set up for myself and I thought,just like you just said, it was
so expensive, I didn't want tofool with it.
So I'm telling you, don, you canmeet with him, he can start out
.
Whatever your budget is, youcan start with him.
Let him know.
But, guys, my thing is justdon't reach out or don't talk to
(31:27):
anybody while you're doing thisbusiness.
Let's try to allow, go in andat least talk and find out
what's out there to help us.
Now, one thing I know is youhave partnerships of.
What you work with is state andwheels.
Can you help us along thoselines as well, and how was that?
Speaker 2 (31:46):
Well, I don't know all the skinny language, all the
legal, but I can tell you thisyou need to leave your stuff Be
protected, because there's.
You heard about the superstarsand the legal issues they've had
.
I've heard stories I forget whoit was, but they had three
years they spent in probate.
How about you want my, myfamily, to get what, what's,
(32:09):
what's coming to them, quickerthan three years?
That's crazy, right, right.
And if you have a, it's good tohave an estate get your.
You know you can put your housein your estate.
I'm not legally speaking, butthese are just examples of
things I've heard about and justkind of my own research.
But I have a legal team oflawyers, a team across the
United States that can help youwhere you live.
(32:30):
They're licensed in your state.
These folks are doing a realgreat job of helping people
protect their families Because,in the end of the day, if you're
a business owner, most of youhave families, grandkids, et
cetera, and you want to makesure.
I call it the Rockefellereffect.
You know Rockefeller set up thething back in the day 1890s.
(32:52):
He set it up that they're stilldrawing money on it to this day
.
Speaker 3 (32:57):
Right.
Speaker 2 (32:58):
Which blows my mind.
How many ever generations laterthey're still able to access it
.
Speaker 3 (33:04):
And he's got a big trust, like that years ago, and
we can do it now.
That's what you're saying,exactly, yes, so and they and
our legal team can can help youdo that so that's why I think
you you know when we weretalking about this is that, uh,
I have had financial advisorsand other people on the show
cpas and all that but the factthat you're a financial
(33:26):
consultant, you're're like no,Jackie, I will go through and
lay it out.
I'm like God, we got to pay youfor everything you do.
You're like no, no, no, youdon't have to pay me.
What I'm going to do is sitdown with you it don't matter
and see, this is really great,because you know what A lot of
(33:48):
us that that's.
Go talk to Dunn.
You know I got to have my stufftogether.
Okay, how about that one?
And that's not the thing.
That's what you're there for tohelp us to put it together.
So, guys, even if you have somuch of a revenue that's
happening, but you do have arevenue you want to go in and
start with Dunn so he can showyou how you can start taking
some of that money and startsetting stuff up that you can
(34:08):
see down the road.
That's the big thing about you,because you do have
partnerships you are a financialconsultant that work for them,
but you can get them in touchand get them connected with all
the people that can help them.
Like you said, the debtmanagement and estate wills.
If you did, I did have someonesend something to me and ask if
you could explain more, explainmore how your debt management
(34:29):
like a business having debtmanagement.
She said what is that and howdoes that work?
Speaker 2 (34:35):
That's a little different for businesses than it
is for individuals.
Speaker 3 (34:38):
So if you have a business, everybody's business,
that's talking.
Speaker 2 (34:40):
Right, right, but for this case, if you have a
business because a lot of peoplehave had businesses fail I mean
a lot of business and if youyou have a business because
there's a lot of people have hadbusinesses fail I mean a lot of
business and if you've got abusiness that's failed, then we
can, we can help you with that.
If it's an active business, I'mnot so sure, but personal, it's
no problem.
So that's kind of a littlesticking point right there with
that okay.
Speaker 3 (34:58):
so when you that, I'm interested.
So when a when you say abusiness failed me, like if you
had to close your businessbecause of correct, because of
of COVID, something like COVID,exactly, yeah, yeah.
And you don't want that topersonally go after you, so what
you want to do is what Get withyou to help deal with the debt,
instead of just walking awayand living alone They'll help
you with the business.
Speaker 2 (35:19):
If you've lost your business in COVID, perfect
example, and his business isclosed down, you can call us and
say, look, I got whatever thosebills are.
Can you help me out?
I was like I'll set you up withthe specialist and they'll be
able to walk you through whatthey can and can't help you, and
we've had a couple of themwhere they save significant
amount of money to get them outof it and they take care of that
(35:40):
yeah.
Speaker 3 (35:41):
See.
So that's definitely something,something we need to know.
That's what I'm saying.
We don't know this stuff, doug,until you say something to us,
so we do.
Speaker 2 (35:48):
And if you got student loans?
If you got student loans andyou're out of school and don't
have no plan to go back, we canhelp you out with that too.
Speaker 3 (35:56):
That's the individual side, or just yeah?
I mean business owners go toschool.
I mean, I went to school too,so but I'm saying, do you do?
Can you do an individualcalling you for debt and can you
do a business owner calling youfor debt?
Both?
Yes, that's what I'm saying.
That's what I'm saying OK.
Ok, that's good, so you can dodebt management for individuals
and stuff.
But even though I know that'snot think about it, that's what
(36:18):
you are.
It's just we've turned it wherebusiness people can know
something.
But definitely we wantindividual people to know too,
to reach out to Don as well,because you can kind of help us
on that individual journey ofgetting ourselves together.
Speaker 2 (36:32):
Oh yeah, we do a lot of a lot of individuals,
families and businesses.
But you know the businesscommunity we're kind of like my
niche, if you will, and you knowhelping them save money.
Like I mentioned briefly, thesupplemental program we have.
When you talk about savingmoney, we've got a 120, you know
the Section 125, the IRS code.
It's basically a tax code tohelp businesses save money in
(36:59):
payroll taxes.
Mars does.
It gives the employer a $500credit for each employee they
have, puts 50 to 60 bucks backin their employee's pocket.
Plus, it provides atelemedicine app that includes
mental health and a dedicateddoctor nurse at no additional
(37:21):
cost as well, at a net zero costto your company.
And oh, by the way, my companytakes care of all the
administration, theimplementation and all that kind
of good stuff.
Speaker 3 (37:30):
Wow See.
Speaker 2 (37:31):
And I'm working with a company right now that, if it
works out, we're in a verystrong possibility.
They'll save a million dollarsa year in payroll taxes.
Wow, and their people will gettaken care of.
Here's one story for you Withthis program, what it does your
health insurance is I'm going touse my hands, I'm a
demonstrative guy your healthinsurance is the castle.
(37:56):
What our program does is themost Because it helps cut back
on health care costs, becauseyou know the prescription costs
will get you and sitting in thedoctor's office and you know,
having a dedicated telemedicinedoctor, nurse, whatever, when
you're two o'clock in themorning, got a sick kid.
We had a lady who had spent herpreviously spent forty hundred
(38:16):
dollars on medical expenses forher and her three kids.
This was two years ago.
Last year she spent twelve.
Wow, because here's the thingtoo, if you've already got
health care, what this onlinemethod will do, they'll work
with your doctor you havethrough your health care.
So if you're sick at 3 o'clockin the morning, your kid's sick,
(38:38):
they'll help set you up anappointment for the next day so
you can get in there.
And the prescriptions are verylow cost wholesale costs of
thousands of different ones forinsulin and all that kind of
good stuff, which you know arenot basically used.
Speaker 3 (39:02):
It's just options out there we're not aware of and,
like you said, the forty eighthundred dollar woman just kept
it going until she got you guysand found out.
We can say, and that's what,giving power back to the web
series about educating people,what's out there and how you can
reach out we're not justputting it out here.
You guys can reach out to Donand get that kind of worked out.
So let me ask you this, don,before we get off and everything
, what is something?
And I want to give thisopportunity.
I want you to give something,your last words of encouragement
(39:25):
or what you want to say tobusiness owners, to give
something, your last words ofencouragement or what you want
to say to business owners.
And then I want you to give mea last word encouragement for
people as individuals andpersons as well, for working
with financial consultants.
Speaker 2 (39:36):
For business owners, I want to say I hope this has
been educational.
If you know it already, that'sgreat, but 90% of us don't, and
you don't know what you don'tknow.
It's nobody's fault, right, butI commend you for being where
you are in your journey.
It may not be where you are, Imean, I'm not where I want to be
, though, but the fact that youtook that step and I want to
(39:58):
encourage you to build yourbrand, take care of yourself and
your employees, and I wish youmuch success.
Speaker 3 (40:08):
Okay, that's for the business owners.
Speaker 2 (40:10):
And for the individuals.
Hey, you've got to take care ofthose families.
I've got a family, you've got afamily and we can help you.
You've got a college planning.
You want to plan to get yourestate?
You've got debt that's justdriving you nuts.
We can help you.
These are things that are veryimportant to us.
Life insurance is whateverybody thought what insurance
(40:31):
was.
When you think of it, you thinkof the guy from Groundhog Day.
The guy would come botheringyou.
Times have changed.
We don't do that.
We enjoy building relationshipswith folks and we want to be
here for you and we wisheveryone the best of luck in
their endeavors.
And you know we work with a lotof different folks and I'm not
(40:54):
for everyone.
I get that.
I have a personality that canbe a little much at times, but I
got a big heart to help peopleand I look forward to hearing
from you if you need me.
Speaker 3 (41:08):
All right.
Well, we want to thank you, Don, so much for your information.
I know we always have a lot of.
We just have a little bit oftime we try to put in so much.
So we have to kind of keep itgoing and I thank you for
dealing with my break-ins andbreak-outs that I do, but I'm
trying to move us through,appreciate you, you follow along
just great.
What I want to say to everybodyfor some practical takeaway with
this, that I know in the worldwe're dealing with the financial
(41:31):
advisor and financialconsultant, what I want each
person to always do let's lookat what the financial advisor
has, the financial consultant,what their experience they have,
what they can offer to us basedon their services.
It's not just a title, but sitdown and talk to whoever you're
looking at Like I said, Mr Dunngave us a lot about him and see
(41:53):
if it's a match for you.
What I don't want us to do asbusiness owners we need to stop
not doing anything.
That's what we hope this givesyou.
Encourage you guys not to andto reach out to us.
Again, Dunn done.
Thank you for being here and Iappreciate you.
Yes, so you want to saysomething?
Speaker 2 (42:10):
go ahead one quick thing to you, to the business
owners go ask your advisor if hecan put guarantees and writing
for you for your money, okaywell, thank you again, mr dunn,
for being here.
Speaker 1 (42:23):
We appreciate you so much, you all have a good day.
Speaker 3 (42:26):
Yes, thank you, you all have a good day.
Yes, thank you, you all have agood day.
And until next time, on GivingPower to the Business Owner, we
will see you then.
Y'all have a great day, bye-bye.
Speaker 1 (42:38):
We hope you enjoyed this episode of TDJ Equity
Funding Insiders Podcast.
If you'd like to be a guest orget in touch with us, please
visit our website attdjequityllcnet.
Forward slash podcast or emailus at podcast at
tdjequityfundinginsidersnet.
Until next time, take care.
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