49 minutes | Nov 20, 2020

[Feature Friday] Bernard Reisz on Principles for Financial Success - The ROI Online Podcast Ep. 58

Bernard Reisz is an accountant and financial advisor who believes that the best way to set up your own finances includes three principles: responsibility, recognition, and empowerment. If you’re able to take responsibility for your choices, recognize your financial journey, and take control rather than becoming dependent on an advisor who may not have your best interests at heart, you will find success. 

No one will be as interested in your personal finances as you are and no one can really do that job for you. Too many people don’t want to assess their own risk to reward ratio or can’t make informed decisions because they don’t know what they’re buying into. If most financial professionals want to foster dependency—because it helps them get rich off you—wouldn’t you be better off if you took charge of your own financial choices?

Bernard believes there are no silver bullets in finances and life. The key is to analyze where you are in life and what your goals are and to use that knowledge to make an informed decision; there is no one right way. That way, you’ll never be tricked into purchasing something you don’t need. 

Together, Bernard and Steve discuss:

  • Life Insurance and captive insurance and when to sign up for these and how to assess their risks
  • Structuring yourself and your business up optimally for taxes
  • The tax code and how it’s always changing—sometimes regardless of the administration in office 
  • Personal stories Bernard has of people being sold golden toilets for the benefit of the salespeople 

You can learn more about Bernard here:

Read the books mentioned in this podcast:
The Golden Toilet by Steve Brown

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