← Earn Your Leisure
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- [00:00]
Podcast Host
This is an iHeart podcast. Guaranteed Human.
- [00:04]
Angel, Diego, and Jason
What's up everyone? This is Angel, Diego and Jason and we're a gusto about podcast Siemporciento Musica Regional Mexicana proves holiday season's here and the studio is feeling festive. We got the tracks, the exclusives. Yes, it's bright Winter spice Cranberry Bien Frio. That refreshing cranberry flavor hits just right. A seasonal favorite, but limited time only, so don't sleep on it to keep your fiestas festive. Adarle Flo Frio Consprite Winter spice Cranberry Obey your thirst.
- [00:36]
AWS AI Representative
Enterprise leaders are revolutionizing their marketing operations with AWS AI. This proven technology turns resource intensive advertising processes into intelligent autonomous systems that deliver real time optimization on a global scale. Amazon's own transformation journey shows the true power of enterprise AI innovation. And now your organization can tap into the same technology that drives Amazon's advertising success. AWS AI. Where advertising meets intelligence Discover the Amazon ad story@aws.com AI our story.
- [01:14]
Trust and Estate Planner
So let me get this straight. Your company has data here, there and everywhere, but your AI can't use the data because it's here, there and everywhere? Seems like something's missing. Every business has unique data. IBM helps your AI access your data wherever it lives. To change how you do business, let's create smarter business. IBM.
- [01:42]
Odoo Representative
Running a business is hard enough. Don't make it harder with a dozen apps that don't talk to each other. One for sales, another for inventory, a separate one for accounting. That's software overload. Odoo is the all in one platform that replaces them all. CRM, accounting, inventory, E commerce, hr. Fully integrated, easy to use and built to grow with your business. Thousands have already made the switch. Why not you try Odoo for free@odoo.com. that's odoo.com.
- [02:15]
Trust and Estate Planner
And Doug, there's nowhere I.
- [02:17]
Commercial Voice (Ryan Seacrest / Liberty Mutual)
Wouldn'T go to help someone customize and save on car insurance with Liberty Mutual. Even if it means playing in a football game.
- [02:23]
Trust and Estate Planner
Boom. 42. You're going down, Doug.
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Trust Attorney or Advisor
Oh yeah.
- [02:26]
Trust and Estate Planner
Your price on car insurance when you.
- [02:28]
Commercial Voice (Ryan Seacrest / Liberty Mutual)
Customize and save is going down.
- [02:30]
Trust and Estate Planner
Hey, limu.
- [02:35]
Podcast Host
What are you doing on their team?
- [02:37]
Commercial Voice (Ryan Seacrest / Liberty Mutual)
Only pay for what you need@libertymutual.com Liberty.
- [02:40]
Podcast Host / Advertiser
Liberty. Liberty.
- [02:42]
Trust and Estate Planner
Liberty.
- [02:44]
Podcast Host / Advertiser
This episode is brought to you by PNC Bank. A lot of people think podcasts about work are boring. And sure, they definitely can be. But understanding a professional's routine shows us how they achieve their success little by little, day after day. It's like banking with PNC Bank. It might Seem boring to save, plan and make calculated decisions with your bank. But keeping your money boring is what helps you live a more happily fulfilled life. PNC Bank Brilliantly boring since 1865 Brilliantly boring since 1865 is a service mark of the PNC Financial Service Group Inc. PNC bank national association member FDIC yeah.
- [03:26]
Trust and Estate Planner
In 2019, my life changed. Buying real estate, doing all these great things. I understood the value of having real estate and wanting to hand it over to my legacy, to create a legacy with that. But once I actually went to create a living trust and I saw what it can do, that's when I knew I had a bigger narrative I needed to share with the people. So my thing was I looked at who created a living trust to hand it down through their legacy and I said, it's Rockefeller. So I went on to read the Rockefeller Trust from 1934 and also there's a book called what Would Rockefeller Do? So I stayed up reading all these things about how he would take this, put it in an account and only give a portion to, to the legacy and then have his children create a trust. And now that money compound interest. He wouldn't give it to him until they turn a certain age. And I'm like, I could do that. We can do that. The information was right there. So I sat down with my trust attorney, I said, I want to do that. Like, well, you want to do it, but I want to do that. It can be done. So we structured it, worked it out where, if not if, but unfortunately we all pass away. When I pass away, a percentage of my properties would be sold, not the ones that I hold long term. Like I have properties I do keep, my short term properties, those would be sold. That money would now go into a brokerage account. That brokerage account would be in the name of the trust. That money for that specific account would be for my grandchildren starting off, not my immediate family. My immediate family would get my life insurance policies, which millions of dollars policies and the main properties that I hold. So they're taken care of. But we need to start thinking about the grandkids, the great grandkids, those generations. How do you start their growth? You start their growth by putting that money in a brokerage account. And they don't get that money until they turn 21 years old. So let's use the example of a million dollars. I put a million dollars in a brokerage account for my grandkids. They don't get that till they turn 21. Gaining 6% interest. 6% interest. Let's say that's 21. So that money turns into about $3.8 million for my grandkids. My grandkids, they wouldn't get it all, they would get half, about 1.6. So I leave 1.6 in there for my great grandchildren for 21 years. That now turns into about 3, 4, 5, 6, that turns into about $6.7 million for my great grandchildren. They don't get it all, they get half. So now that's about 1.1, no, about 2.2.3. 2.3 stays in for my great great grandchildren. So they get about $8.1 million. You see how that happens? That's compound interest over 21 years. So we have to look at that number. But what makes the trigger and the explosion even bigger is the fact that what Rockefeller did is that was just his trust. What he did was now each children opened up, each child opened up a trust. So now his children had a trust. So he would pay his grandchildren and his children would pay them. That's twice. So now his grand, his children, then his grandchildren have a trust, so his great grandchildren would get paid three times. So now if we look at Rockefeller, trust paid out now, 11 generations and counting continuously. And what he also did was have a life insurance policy on every person in the trust, creating his own bank. And now what does that do? This is my structure. Also any one of my children or grandchildren who want to start a business, what do they do? Talk to the trustees. And now you borrow money. We become our own bank. So when someone dies, that money goes into the trust, you pay. When you get the policy, you pay it outright. So now that money is available in the trust. So now also what I did was I retreat, retweaked my trust last year and it was 21, that I wouldn't give him money. I changed it. I changed the way to get money at 18 and they can have a business started at 11. You know why? Because now with technology, kids are now figuring out new ways to start a business. So I want them to be able to present a business loan, a business proposal to the trustees so they could borrow money. These are the things where we don't look at them. When people say, I don't have the money to do this, you know what I tell them? Yes, you do. The air you breathe is money. A life insurance policy, soon as you die, you worth money. There are generations and there are groups of people. When people die, their objective is to make sure they have a policy on their grandmother, policy on their father to do exactly what we're talking about but we look at as taboo. When it can't be taboo, it shouldn't be taboo. The main thing about it is you're thinking about the legacy. And when I tell people, when I speak to you, I'm not speaking to you. I'm speaking to your legacy. You're just a vessel for me to get the message to you so you can hear the message and see it and it reverberates in your brain. And as it's doing this, you literally are talking to your legacy while I'm speaking, going, I got you. Don't worry.
- [08:15]
Podcast Host / Advertiser
Earnest. What's up? Look, you ever notice how building a website used to feel like running a relay race? Designer hands it to developer, developer hands it to marketing. Then everybody argues about why the button is two pixels off. Yeah, those days are over. Let me tell you why I'm locked in on Framer. Framer is different. First thing, it's not just a website builder. It's a full free design platform that that lets you create everything. Social assets, campaign visuals, icons, vectors all in one place. No figma imports, no messy HTML cleaner, faster and honestly kind of fun. And the AI features crazy. You literally chat your way to hero banners, navbars, pricing tables. All styled to your brand's colors, fonts and vibe. Like having a developer team in your laptop. And when you're ready to go live, hit publish one time. Once Framer handles hosting blazing fast load speeds and SEO while you grab a coffee. No developers, no tickets, no handoffs. It's designer and marketer heaven. Plus little details matter. You can customize your cursor, add playful interactions, animate on hover. Your site actually feels like your brand. But here's the part that shocked me. Framer already built the fastest way to publish beautiful production ready websites. And it's now redefining how we design for the web with the recent launch of Design Pages, a free canvas based design tool. Framer is more than a site builder. It's a true all in one design platform. From social assets to campaign visuals to vectors and icons, all the way to a live site. Framer is where ideas go live, start to finish. So you ready to design, iterate and publish all in one tool? Start creating for free@framer.com design and use promo code earn for for a free month of framer pro. That's framer.com design and use promo code earn framer.com design promo code earn rules and restrictions may apply Earners what's up look, when it comes to money, control is everything. Knowing how and when to move your dollars, that's where the Klarna card comes in. It's your debit card upgraded, you decide how to pay, whether in full now or you plan ahead to pay later. It works anywhere. Visa accepted activation takes 30 seconds and there's zero credit impact. To apply. No surprises, no stress, just smarter, more intentional spending that keeps you in control. Sign up for the Klarna card by downloading the Klarna app or learn more@klarner.com US Klarner Card Klarna Card Pay Later Plans issued by Webing deposits in your balance account are held in webbank Member fdic Anywhere Visa is accepted, certain merchant product good and service restrictions apply. Some merchants do not accept virtual cards. Physical card only included with a paid Klarner membership plan. Sign up for the Klarner card by downloading the Klarner app and learn more@klarner.com USClarner card what's up everyone?
- [11:11]
Angel, Diego, and Jason
This is Angel, Diego and Jason and we're at Gustav Podcast Siemporiento Musica Regional Mexicana. You already know the holidays are here in the studio. Estan modo Fieston. We're recording Cotoriando and keeping it fresh with Sprite Winter Spiced Cranberry. That refreshing cranberry flavor. Cold crisp. Conunto que n. It's the right move. A seasonal favorite, but only for a limited time, so don't sleep on it between tamales las posadas so as Tatarde Sprite is always part of the traditions. We keep it regional, we keep it real, we keep it twisted. Sprite Winter Spice Cranberry Twisted It's Christmas in a can. Adarle Obey your thirst.
- [11:53]
AWS AI Representative
In today's digital economy, enterprise leaders are seeing firsthand how AI is transforming advertising. Amazon Ads demonstrates this every day. AWS AI processes billions of advertising decisions in real time, driving campaign optimization on a truly global scene scale. So what does this mean for enterprise operations? AWS AI enables precise targeting and dynamic optimization across your entire advertising ecosystem. Amazon has proven this through its own digital transformation, deploying enterprise grade AI solutions that compress multi week workflows into hours while maintaining precision at global scale. AWS AI's machine learning capabilities integrate seamlessly with existing advertising workflows, all while maintaining enterprise grade security and compliance. And because it scales effortlessly, it can support organizations operating in ten markets or a hundred. Transform your advertising operations with the same AI technology that powers Amazon's global success. AWS AI where advertising meets intelligence. See The Amazon ad story@aws.comai our-story Running.
- [13:04]
Odoo Representative
A business is hard enough, so why make it harder? With a dozen different apps that don't talk to each other. One for sales, another for inventory, a separate one for accounting. Before you know it, you are drowning in software. Instead of growing your business, this is where Odoo comes in. Odoo is the only business software you'll ever need. It's an all in one fully integrated platform that handles everything. CRM, accounting, inventory, E commerce, HR, and more. No more app overload, no more juggling logins. Just one seamless system makes work easier. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. It's built to grow with your business, whether you are just starting out or already scaling up. Plus, it's easy to use, customizable and designed to streamline every process so you can focus on what really matters running your business. Thousands of businesses have made the switch, so why not you try odoo for free? Odoo.com that's o d o o dot com.
- [14:05]
Trust and Estate Planner
Storm told me how to do it. Now I'm gonna give me a life insurance policy. When people have a life insurance policy, let's say roughly $4 million, you have half a million dollars left on your home mortgage and you say to yourself, I'm leaving my family a million dollar. Actually, you're not. Because when you die, that policy has to pay half a million to the mortgage so they can stay in the house. You're only leaving them half a million dollars. We don't think about that mortgage behind us. So this is where I say, get yourself a whole life. Excuse me? Get yourself a term that's for a half a million or a million dollars just to cover the house so your real policy doesn't get broken up. And now you have that term. Pay off the mortgage, any money left, put it in a brokerage account, and now you start the system.
- [14:49]
Trust Attorney or Advisor
So let's stay on this conversation about the trust for a minute. So, irrevocable life insurance trust or a revocable.
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Trust and Estate Planner
You start off as a revocable because you want to be able to sell.
- [14:59]
Trust Attorney or Advisor
Property and you can change it.
- [15:00]
Podcast Host / Advertiser
Yes.
- [15:00]
Trust and Estate Planner
100.
- [15:02]
Trust Attorney or Advisor
All right. So, all right, so who set this up for you? Your attorney?
- [15:05]
Trust and Estate Planner
Yeah, my state plan.
- [15:06]
Trust Attorney or Advisor
You told them or they educate you, educated them, or they educated you? Obviously they're already educated because they're an attorney, but it sounds like you kind of already had some idea of what you wanted to do because you did some Reading before that. So what was the process? You kind of said, this is what I want to do. And then they kind of added to it or they said, this is what you should do.
- [15:23]
Trust and Estate Planner
I came to them with my plan and my structure first. And I really wasn't taking no for an answer because I knew it could be done. And there are some people that, like, there are mechanics who. Cars are broke. Like, they just don't know fully how to do certain things. So you really have to find the right person that does these things. And I would always say, speak to someone who has a trust. Speak to someone who you know, they can refer you to someone, but that takes time. But they would give me little tidbits of, well, we can do this. Or they have a network of people in a law firm and they reach out to them. Like, my first trust cost me about $12,000. My newest one cost me roughly almost 20,000 because I have a lot of things to fund it with. But a starting out trust probably run you anywhere from three to $6,000. But you have to look at the big picture. But I started out having a plan and I really, really was adamant about getting this structure done. That was it for me.
- [16:19]
Trust Attorney or Advisor
You have a will too?
- [16:21]
Trust and Estate Planner
Yeah. With the trust, there's a thing called a pour over will that's attached to the trust. For all the items that you don't put into the trust, it automatically fall into the will. Like jewelry, like things that are heirlooms, it'll automatically go in that will.
- [16:36]
Podcast Host / Advertiser
Yeah. I'm sitting there thinking, obviously you were educated. How often are you meeting with your trust attorney? Because I was having a conversation with a young lady the other day and she's finding it hard to have her parents, you know, even buy into the idea of a trust. So how often did you meet with family, if you did at all? And how often did you meet with the trust attorney? Is that like a once a year thing or is it every six months? Because I'm sure you're acquiring properties and other assets throughout the year. Like, how often is that happening?
- [17:03]
Trust and Estate Planner
In the beginning, when I started, we had to have a conversation. Literally, it was about almost every other week, sometimes every week to plan us out with insurance and all that stuff. Very complicated. But once it was set, the updating of the trust is every three years. Right. But if there's something of urgency that I need to update, because here's the thing, and I want to throw this part also, I'm a drop it. Y' all pick this up when you're buying things in your holding company, your holding LLC should be in the name of your trust. So if something happens to you, the properties automatically fall into the trust. Automatically fall in there. So you don't have to fund the trust because the trust own the llc. So if, let me give a quick example. You know how you put your name on every single llc, you open up llc, you put your name on. You open up the llc, you put your name on it. But if you was to have the property 123 Smith street in its own LLC, the name on that LLC would not be you, it would be your trust. So if something ever happens, it automatically goes to the trust because you sign the trust over as the owner. Does that make sense? Automatically. So with Trinkle effect. So with that being said. Excuse me. So with that being said, you wouldn't have to fund one at a time. You could just have that trust owning all these LLC bow straight in from your holding. But also, let me not glaze over something you said. It's so important to have the conversation with your family and sit them down and explain because my thing was after everything's said and done, my lawyer, we would have the conversation with each one of them. Here's who's getting this, who's the trust? There's the trustee. This is what's going to happen. This is what it's supposed to be. I want you to do this. And it's a thing I call a letter of trust, handwritten. I want this copy of this letter in my handwritten form and my signature be copied for every generation, every trustee, so they could look and go, he thought about me. I want them to see what I meant and why I did this because that's powerful and they will get it and go, man, my great great grandfather thought about me. So that letter, you don't have to, but the thing is always impact. So you need to have that discussion with your kids, your grandkids. There's only so far trust can go. It only could go to the last person alive in your generation up to a certain age. So like if I have my, my grandchildren, my last one on my. He would have to now take the trust format and restart it again and follow the same thing. Trust can't live on and infamy.
- [19:46]
Podcast Host / Advertiser
So you've created the generational wealth and the other part was just the sustainable wealth.
- [19:50]
Trust and Estate Planner
Yep.
- [19:50]
Podcast Host / Advertiser
Like that's the key. Right. Because it could get mixed up from generation. Generation.
- [19:54]
Trust and Estate Planner
Yeah.
- [19:54]
Podcast Host / Advertiser
But what you're doing is pretty much putting up the barriers like no we're going to sustain this forever.
- [19:59]
Trust and Estate Planner
Forever. The biggest, biggest mistake that a lot of people make, unfortunately when we have real estate is thinking that our children want to be landlords. We can't, we can't assume that they wouldn't be landlords. I had a friend of mine who I knew through someone else, he died, didn't have a trust, left the properties to his, to his kids in a will. They sold them because they didn't want nothing to do with real estate. That's, that destroyed me because I knew what his objective was. So we need to put things in place to go, okay, if you don't want to be a landlord, this is what we're going to do. I'm going to have a company do this or we're going to sell it, put the properties in the brokerage account where it's gaining compound interest to do something. So that's the key. We need to stop, you know, really projecting our, our wants and needs on children and grandkids when they like, yeah, I got my own plan.
- [20:49]
Podcast Host / Advertiser
That's good. Yes. Earners. What's up? You ever walk into a small business and everything just works like the checkout is fast, the receipts are digital, tipping is a breeze, and you're out the door before the line even builds. Odds are they're using Square. We love supporting businesses that run on Square because it just feels seamless. Whether it's a local coffee shop, a vendor at a pop up market, or even one of our merch partners, Square makes it easy for them to take payments, manage inventory and run their business with confidence or all from one simple system. One of the things we love most is seeing neighborhood businesses level up. There's this West Indian spot right in our community that started with a small takeout counter. Now with Square, they've been able to expand into a full sit down restaurant and even started catering events across the city. That's the kind of growth that inspires us. And it's powered by Square. Square is built for all types of businesses, from the corner bagel shop that turned into a local chain to, to the specialty market with thousands of unique items to the stylist who's been holding you down for years. If you're a business owner or even just thinking about launching something soon, Square is hands down one of the best tools out there to help you start, run and grow. It's not just about payments, it's about giving you time back so you can focus on what matters most. Ready to see how Square can transform your business? Visit square.comgoeylash to learn more, that's square.com go eyl don't wait, don't hesitate. Let Square handle the back end so you can keep pushing your vision forward.
- [22:35]
Eva Longoria
This is Eva Longoria from Hungry for History with Eva Longoria and Maite Gomez Rejon. Like the song says, it's the most wonderful time of the year and also a wonderfully busy one. All that merriment can weigh down even Santa's sleigh. So keep it wonderful by keeping yourself wonderful with a crisp, cold Coca Cola. Ah, pause for fizzy joy. Look out for yourself and then look out for everyone else. And together we'll make this season as wonderful as it's meant to be. Enjoy a Coca Cola Refresh your holidays.
- [23:09]
Podcast Host
At CVS it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and yeah, healthy snack. At cvs, we're proud to serve your community because we believe where you get your medicine matters. So Visit us@cvs.com or just come by our store. We can't wait to meet you. Store hours vary by location.
- [23:43]
Commercial Voice (Ryan Seacrest / Liberty Mutual)
Hey, it's Ryan Seacrest for Albertsons and Safeway. Flu season is here and the in store pharmacy has you covered with a free flu shot with most insurance plans. And as a thank you, get up to $20 off your grocery purchase. Plus it's cough and cold season. Stock up on all the season's essentials and get ready for relief with discounts on items like Hall's Menthol Cough Drops, Tylenol Cold and Flu and Mucinex. Fast Max products offer ends December 30th. Restrictions apply and offers may vary by location. Visit Albertsons or Safeway.com for more details.
- [24:13]
Podcast Host
Season 2 of unrivaled basketball is here and the talent is unreal. Paige Beckers, Nafiza Collier, Kelsey Plumb, Brianna Stewart and more are back to redefine the game. Unrivaled basketball season two, sponsored by Samsung Galaxy, tips off January 5 on TNT, TruTV and HBO Max support for the.
- [24:29]
Commercial Voice (Ryan Seacrest / Liberty Mutual)
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- [25:38]
Podcast Host
Is an iHeart podcast. Guaranteed human.