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The Power of Teamwork and Collaboration
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Welcome to the latest episode of the Perennial Pride podcast. As the summer of 2023 closes, Tom reflects on the fleeting nature of time, especially as his children grow and face new life choices. Drawing parallels to the power of teamwork in childhood sports, Tom dives into the prevalent yet misguided notion of individualism that often overshadows the importance of collaboration and diverse perspectives in education and life. This philosophy extends seamlessly into the realm of personal finance, which can be intricate and overwhelming for many. Tom highlights the crucial value of a team-based approach, exploring the concept of a virtual family office. Covering five key domains: Taxes, risk mitigation, wealth building, legal services, and business advisory, Tom envisions a future where collaboration leads to smarter financial decisions, wiser risk management, and more innovative solutions. Tune in for insights that challenge conventional wisdom and pave the way toward a brighter financial future.
Highlights 01:16 The purpose of teams 02:07 Individual uniqueness and the importance of appreciating and leveraging these unique qualities 03:59 The concept of a virtual family office, drawing on examples from wealthy families like the Rockefellers. 04:48 The five core areas in a virtual family office: Taxes, Risk Mitigation, Legal, Wealth Building, and Business Advisory 07:22 The importance of investing and expanding our horizons beyond stock market investments 09:09 The importance of legal planning, especially estate planning 10:21 Introduction to the business advisory part of the virtual family office 13:49 How a team-based model can introduce new concepts and ideas and provide a broader approach to managing finances
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
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