David Spellman - Building Wealth Through Financial Literacy

5 Talents Podcast - How To Build Wealth Through Real Estate

David Spellman is the RIA and Director for Money Concepts Capital Corp. He has a committed and benevolent interest in others and has all the appropriate licenses to help clients with financial planning in their personal lives as well as their business endeavors. As a fiduciary, he is responsible for the advice he gives both professionally and personally. He says his goal is to help every person he meets with save taxes, protect assets, and build wealth. He says that before you can really achieve financial freedom and create a legacy, you have to learn how to budget, invest, and protect your assets. He emphasizes the importance of being strategic when building wealth, noting that not everyone has the same opportunities or access to wealth-building tools as those who do not have wealth.

[00:00 - 06:04] Opening Segment

• Introducing David to the show!
• As a registered investment advisor (RIA), he is responsible for advising clients on investments and protecting their money

[06:05 - 12:47] Setting Goals And Protecting Your Assets

• When it comes to creating wealth, starting with your goals is key
• What is a fiduciary?
• Budget and asset protection
• Figure out your goals and how to live within your means
• How to create real estate wealth?
• Strategy for Reducing Your Taxes

[12:48 - 34:24] Building Wealth Through Financial Literacy

• David discusses the importance of people connecting with others and finding their interests
• Stages of building wealth
• Basic building blocks for financial literacy
• Strategies that differentiate those who are wealthy from the majority of people
• Consulting with an expert to implement strategies

[34:24 - 38:02] Closing Segment

• David believes that the law of attraction is always present, and that when people are fearful, they are making moves in the wrong mindset
• See the links below to connect with David!

Quotes:

"If there's extra money, discretionary money, we want to find a way to get that to grow, on a compound level.” - David Spellman

"You want to think about the abundance that we have everywhere." - David Spellman

" I want to have enough to replace that income mortgage if you have any mortgages on the docket. You won't have enough to cover that." - David Spellman

Connect with David through LinkedIn & Money Concepts!

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