TDJ Equity Funding Insiders Podcast
TDJ Equity Funding Insiders Podcast
Helping Business Owners Make Better Capital Decisions.
Welcome to the TDJ Equity Funding Insiders Podcast—the show where business owners, real estate investors, developers, entrepreneurs, and financial professionals gain practical insight into today's capital markets.
Hosted by Jacquelyn Jackson, Capital Access Advisor, this podcast goes beyond discussing loan products. We explore the strategies, relationships, and financial decisions that help businesses become more fundable, access the right capital, and build long-term wealth.
Each episode features conversations with experienced commercial lenders, bankers, underwriters, private investors, commercial real estate professionals, attorneys, CPAs, financial advisors, and successful entrepreneurs who share real-world knowledge from inside the capital markets.
Topics include:
• Business Funding & Commercial Lending
• Commercial Real Estate Financing
• SBA & Government Lending Programs
• Private Capital & Alternative Financing
• Capital Strategy & Business Growth
• Credit Positioning & Financial Readiness
• Business Acquisitions & Expansion
• Cash Flow Management
• Entrepreneurship & Leadership
• Risk Management & Deal Structuring
The podcast also features episodes from our Giving Power to the Business Owner (GPBO) educational series, where industry experts provide practical strategies that help business owners make smarter financial decisions and position their companies for sustainable growth.
Our mission is simple:
To educate, empower, and equip business owners with the knowledge they need to confidently navigate today's capital markets.
Because the best financing decisions begin long before the application is submitted.
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🌐 Learn more about TDJ Equity Funding at www.tdjequityllc.net
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TDJ Equity Funding Insiders Podcast
# 33 Business Protection 101: From Insurance to Retirement with Don Workman
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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.
This episode of TDJ Equity Funding Insiders is brought to you by TDJ Equity Funding.
If your business needs capital, don't start by applying everywhere. Start by understanding how lenders are likely to evaluate your opportunity.
At TDJ Equity Funding, we evaluate your funding needs, financial position, and overall opportunity, then identify the financing strategies and lenders that may be the best fit.
Whether you're seeking capital to grow your business, purchase or refinance commercial real estate, acquire investment property, purchase equipment, or strengthen your overall capital position, start with a conversation.
Visit www.tdjequityllc.net to schedule a complimentary Funding Discovery Call.
And remember: We don't force your funding needs into a lender's box. We find the lender's box that fits you.
TDJ Equity Funding — We Know Where the Money Is.
Podcast Introduction
Speaker 1Ready to get the inside scoop on equity funding ? Tune in to TDJ Equity Funding Insiders Podcast for an in-depth look at what it takes to access financial capital and maximize your investments . Hear from experienced professionals , including bankers , underwriters , loan officers and industry experts , as they share their unfiltered stories and valuable lessons on securing funds securing funds
Business Owner Webinar Introduction
Speaker 1.
Speaker 3Welcome to the Business Owner Webinar Series . And today we have our special guest , which is Dunn Workman . And Dunn is a financial consultant . But we wanted to bring this series to you guys so you all can be aware of what we're going to talk about and mainly because you all need to understand it . If you are business owners , this is what this is catering to , so we can kind of educate you on what's out there as far as protecting you , because a lot of us are leaving W-2 companies okay , and a lot of us have never worked for ourselves before .
Speaker 3You're used to that benefit package being available for you . Well , now things are going to change because that benefit package needs to come directly from you . So what Don is going to give us today is show how you can make your money , which basically that's what you do , but he's going to show you how to keep your money to make sure that you're having a retirement set up . He's going to give us some ideas of how we should do as far as taking care of ourselves as business owners . So if you all would , let's welcome Don into our webinar and our show today and , don , if you would give us a little bit about your background and again we want to welcome you for being part of this series .
Don Workman's Background
Speaker 2Good afternoon , jackie , and thank you for having me Again . My name is Don Workman . I live here in the Dallas-Fort Worth area with my wife of 37 years let's see , two weeks will be 37 years . We've got two grown daughters and a son-in-law , and my business is called WealthGuard Solutions . I'm in the middle of getting my website redone so we'll get that all scheduled and stuff . We're growing , we're getting there , we're making some good things happen .
Speaker 2I work with a good company out of California , but we'll just kind of keep this simple . But I've been in business about 35 years and I've been in a financial consultant for the last five years and what I've found is why would you get into this kind of business ? Because , like you as an entrepreneur , you found something you were passionate about and I love helping people as a man of faith . I said I want something I can do to help my family , but I also want to help those business owners . You know most of the businesses I help are like 20 people or more , but you know what the small businesses are , the ones that are the lifebloods of our community . I think you'll agree that many of these small businesses are the ones that keep our families afloat , keep our neighborhoods uh , going and build , and you know down here where I live , the small businesses are really the lifeblood of our community so I'm really , really not just to cut you out , but what of our community ?
Speaker 3So that's why we really not to cut you out , but what we really have to do . That's what the show is about the small business . So let's step in some things that a lot of small business don't understand and kind of work with that . Now we know we want to talk about starting off as a business owner that have been in business , is it a certain time ? First of all , let's talk about what you provide to the business owner as a financial consultant . What could you provide for them ?
Speaker 2Oh , okay , great , I've actually met . Just a quick story I've met with a CEO fractional CFO the other day and he asked me a similar question . Cfo the other day and he says he 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 ? We can talk about that in more detail . Another thing is if you've got key personnel , so if you've got somebody who's very integral to your part of what you do .
Speaker 3You know that's somebody you're going to want to . You're going to protect that Exactly Like and I've worked with you before , so I know like you can help them with insurance and so on that part , when you want to see what type of insurance you need to get for your business , I find that you can . Your business as a financial consultant can help . You can also and we're going to talk in detail of this we can also help with your annuities and also with the 401k plan , because remember , like I told you before , that we're now leaving that company where we already had benefits . How do we set up our own benefits ? Now let me say this to break in so everybody can understand you have your financial advisors We've heard of those and then you have a financial consultant . So what is the difference between and I want to get opportunity done between a financial advisor compared to a financial consultant ?
Essential Business Insurance Types
Speaker 2OK , just some real basic things . The financial advisor he gets paid 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 lot of times they work in stocks and securities and I don't work in those . What I do , I work in principal protection products which would revolve around the life insurance companies . We talk about the annuities and the IULs and things like this . Those are the things that we help folks with that protect their principal and not have to have a lot of the tax strategies to help them protect them from all the different tax laws are out there . And there's another thing One thing that happened in the last downturn in the economy was like last November and a lot of people lost money . I can say that none of my clients lost money last November , so I think that's a big that's something pretty big to have that .
Speaker 3But what we want to do is kind of more talk in general of educating everybody with how the financial consultant work and how the advisor work . Now , I know you might can't talk on advisor because you're not a financial advisor , so I do want to give everybody you did mention that it's more on the where they want to do investments and things of that nature . You're more of the I guess , stable part of what you want to start with , am I correct ? Maybe insurance , annuity and kind of like that to protect ourselves for retirement , would you be more ?
Speaker 2in that Partially you can start or you could be toward the end , because a lot of us , partially you can start or you could be toward the end , because a lot of us , you know you've got your rollovers and all 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 sort of things set up a 401k or whatever kind of retirement and life insurance . Even as a financial financial advisor , he'll deal primarily in financial type of stuff stocks , bonds Whereas I can help you with some of that . But I can do a lot of insurance as well . So we can do life insurance for you , for your business , for your employees , for your family , for your children .
Speaker 2And you know we do more estate planning , college planning , but the retirement planning , which is huge for our we're learning that and this is probably known to your audience that 75% of our business owners are , you know they're small businesses , they're underinsured , that's right . You know that's something you have to protect yourself as a business owner and I think that's part of the key things that make it different , because we offer a little bit more . That's part of the key things that make it different , because we offer a little bit more and it's not downplaying anything those guys do because they serve a purpose and we work with a lot of those folks because we encourage people to diversify . So say , if you've got $100,000 and you've got it in the market , but I want to protect some of that , I say 20 , 20 to 30% . So if you had $100,000 , you put 20 to 30% in something that protects your principal against the downsides of the market .
Speaker 3I think that really puts you in a good position to not have to worry about scrambling should the market have a bad day . Let me ask you a question . Then you had mentioned something about you were not in the financial side , but it sounds like you mentioned a financial side . So the financial advisor ? Let me explain this for us the financial advisor can handle the stocks and investments , can you not handle ? You don't handle the investments in the stock part , right ?
Speaker 2You have to be licensed , correct ? But I do know some folks that will do that . That I trust .
Speaker 3But most of the folks we're just talking about you , so what you all do right as a consultant .
Speaker 299% of the people I want , they want what I have , they have their guy and that's cool . So what they do there is fine .
Speaker 3But 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 attachments or relationships with people in those fields that you can guide them . Now let me say this about you guys so they can understand this about you With a financial consultant , he's kind of like a planner . You bring what you have going on with your business and what's happening with you . He can help plan it out and direct you . It's things that he can actually do help you with insurance , annuity and 401 . But there are other things that you need to do to protect yourself and your money . He has that partnership . Am I correct that you can actually connect them to all those people as well ?
Speaker 2Correct . Think of it like a general contractor . 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 the stock market and they want to do that kind of thing . Not very often , but when the time comes , I have those resources available .
Speaker 3Right , right , and that's what everybody understands , so let's talk about it . When it comes to we're going to talk about the insurance annuities in a 401k , if you would give us when it comes to insurance and having a business , what type of insurance should the business owners look for for themselves ?
Speaker 2Okay , We've got a few that we recommend for folks . The first one is general liability insurance right , but what that covers is your third party bodily injury , property damage , legal defense costs , because if you've got a little warehouse or a little business and somebody gets hurt on your property , that could be pricey , right . Yeah , why does that matter , though ? It's foundational coverage , so this is like the bare bones , basics , right , and one slip and fall in a lawsuit could financially devastate a business , especially a small business , and what it covers is your building , your equipment , physical assets , fire , theft , vandalism and weather-related damages .
Speaker 3So that's just our general liability . Okay , that makes sense . What's the next one we should get ? You think we should have ?
Speaker 2Okay , let's say , a workman's comp right , you've got employees right . What does that do ? Medical expenses and lost wages we're familiar with that to a certain degree . It's lost wages for your employees and the employee liability for the workplace injuries . That happens more times than we probably want to talk about . And why does it matter ? It's required in most states . It protects both the employer and employee financially if you have an on-the-job injury .
Speaker 3Right , which I work with that . Now let me ask you this All this that you're mentioning , they can go through you and you can help get it right , right um those not so much I partnership yeah , yeah , yeah , okay , okay .
Speaker 3So you have partnerships to kind of help , like I say , he's a consultant guys , he can actually help direct you , which means we'll talk about how he get paid , which made a big thing for us starting off his business , how his business actually worked . So what's the next one I know you and I talked about like the insurance they should get a person like UI I think it's UI , you said or IU , in type of insurance .
Speaker 2Well , we're going to start with the generalized topic that we're on . The next one is the professional liability insurance , which we use as an error and omission . Now , that tends to go towards . If you're a consultant advisor Like myself , that helps you Claims against negligence , mistakes or misused services , and I can tell you here in the state of Texas , if you get caught with fraud , it is not cheap .
Speaker 3What is that ?
Speaker 2one Don that one's called the E&O Errors and Omissions Insurance . E&o Insurance , okay , Got you and that boasts retention , morale , tax efficiency , you know that kind of thing . So it's a good one and very necessary to have . The next one is the cyber liability . Now , this one you may or may not be aware of that's a new one In recent years .
Speaker 2Yeah , the small , even the small town , is starting to get cyber crime divisions because people don't seem to have nothing else to do but break into companies . And what does that do that ? You know it protects you against data breaches , ransomwares ,
Annuities and Investment Options
Speaker 2malwares , cyber attacks . One data breach can really impact your trust . Okay , and you know I had that before . I must say I admitted a couple years ago I had that somebody hacked in and got my client's information and that was ugly . So if you have any kind of intellectual property that you have , I would advise strongly and I don't't do that . But there are some good companies out there .
Speaker 3Okay , thank you , okay . So what do you think we need ?
Speaker 2Those are the basic things . I think the next thing we probably should talk about a little bit would be the difference between really being covered because I got coverage , but are you protected ? You know , that's something that we can probably dive into a little bit more . Really being covered because , oh wait , I got coverage , but are you protected , that's something that we can probably dive into a little bit more .
Speaker 3Okay , well , let's do this before we go there , don , I want to mention to everybody I know you didn't talk on it , but I'm going to say it from my personal , being a business with everything he's saying , which is wonderful we really need to look at life insurance as a business owner , not a life insurance just to be paying for a policy , just to pay to be covered . But they have life insurance out here that you can actually do it as an investment and get some type of return on what you put in . And they're called the universal insurance policy . Is that right ?
Speaker 2It's indexed universal life and we were going to get into that . I just wasn't .
Speaker 1I wasn't sure . If you want to , tackle that now she's ready .
Speaker 3Okay , because it goes along with all the insurance that we kind of talked on , and I just don't want to miss that because I've seen that happen before and I want us to make sure we get it . So I do want them to know about that insurance because we let me tell you something , don , and you probably know it too as business owners , we in our business we got our head down and we working real hard and we look up 10 , 20 years later and some things we have not put in place . So I realized that type , instead of me doing whole life insurance which that was better than term life what was better than whole life was having something I can invest in and I can pull money out if I need it . So that's why I wanted to make sure they knew that was out there and that was available . That's why I brought it at that time .
Speaker 2Sure , we can tackle that a little bit .
Speaker 3That's okay , I've already tackled it . You can go to the next one , okay .
Speaker 2Well , let me kind of expound a little bit for you , because what it really is , it's a life insurance poly with tax-deferred growth and protection from the downside of the market , and it has permanent insurance . Here's the thing With term insurance you're paying , you know it goes up . I had this recently where I was paying $60-some dollars and when I hit $60 , I look at it it would go up to $1,000 . This policy does this , this won't do that , and it comes with living benefits . Now , a lot of companies will say they have living benefits , but it's typically just terminal .
Speaker 2I've got a partner that does terminal life insurance chronic injury or illness , critical injury and they just had one , for they just added Alzheimer's .
Speaker 2If you've got Alzheimer's which God help those folks that do .
Speaker 2I've got a parent with dementia and I wish this had been around for him and you know these are things that they're added to the policy with no additional cost to you and what will happen is , at each stage , there's a percentage of your check of your policy that will be turned over to you so you can use it for if you need to do medical . So if you're terminal , we'll just use terminal to you so you can use it for if you need to do medical . So if you're terminal , we'll just use terminal uh . If you're terminally ill for 24 months , you got uh . They'll give you 90 of whatever you have uh , so you can take a trip , fix your house , whatever you need to do , no questions asked . And it's really , really been a great selling point for uh many of my my colleagues and I as we deal with our clients , regardless if it , regardless if it's a business or it's a family , because you know what Protection is huge and everywhere you can get something . That's a valuable tool and it doesn't break the bank . That's always an asset .
Speaker 3It is and , like you said , I know you say it's a selling point for you guys , but for me , as a business owner , it is a point that I think business owners need to have . We need to look at it because of what it offers . Ok , that's what I think is great . So let's talk about oh goodness , this was great . The next thing that I know you kind of focus on is annuities . What is annuities ? What's an idea to have an annuity , and why Can you explain that to us ?
Speaker 2Annuities . This is this is a tough one . I don't know if everybody's ready for this one . What is an annuity ? It's a contract between the life insurance company and the policyholder . So one company we work with has been around since like the right around the Civil War , and they have . They're standalone , they don't have outside investors , but what they do is they have great policies and great customer service . And so when I say that they're the life insurance company , if a life insurance company puts their name to something , you're going to expect them to hold on to it . They're going to hold their word and they do every step of the way .
Speaker 3And I you know . Ok , you know you're trying to sell a company right now , right , Don ?
Speaker 2I'm trying to not sell , but I am already All right .
Speaker 3So 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're here . But so annuities is a contract between you and the insurance company , right , correct ? How do we make money ? How do we invest in it ? How ?
Speaker 2does it work In general ? How ?
Speaker 3this works in general .
Speaker 2Just a general thing we're going to use the IUL because you brought it up , which would be , great , because what happens is you've got a company that's got thousands of policyholders .
Speaker 2All 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 of zero , so they'll put your money in the market . Okay , and the market has a great day . It has 30% . You know what You'll get that 15% and this is how the company makes money . That other 15% goes to the insurance company . That's how they make their money . So then , on the flip side of that , you got zero . Okay , the market has a terrible day 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'd rather be at zero than lose money , because to lose 10% you gotta get 20% back just to make something , and it doesn't always come that quick .
Speaker 3Right , right . So annuities is something . When do you think we need to get those as business owners ? Okay , so we get insurance . Let's say we get the insurances that 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 little investment with my money , where it's making money for me , or how should I look at the annuities ?
Speaker 2It'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 an annuity and what we call a single premium to where you just put that in there and let it grow in the . We're seeing an average about eight to 12 percent on returns and you could put that in there . It will put us in a tax-deferred program . You won't get to stop to pay taxes because Uncle Sam's funny about their money , but you'll be able to make that money and sock more of that away than lose it to taxes . And so we're finding that tool .
Speaker 2Or , if you're starting out , here's the thing too . You talk about little money . You can start out with a little money and you just pay a little bit each month . You know you got a little extra surplus in your account . 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 set you up with a Roth 401k or , excuse me , a Roth IRA , excuse me and that's got some requirements , minimals , you know , 7,000 or whatever year . That's okay .
Speaker 3It's okay , we can work with you , but all you're saying is also us keeping our money , protecting our money , exactly , instead of just putting it in the bank or in a savings account . You're saying , no , let's not do that . That's what you're saying . So we're protecting our account .
Speaker 2Now see , I can't say no , you can't either , because everybody's different . Some people like the idea of having 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 blanket statements out , because we've heard people say that the annuity is bad .
Speaker 3But it can be if it's not done right you're saying that we're just listing the choices for them , so the correct . That's an option compared to exactly , compared to just putting in a savings account . You have it there , you have an option of where you put it here and it's more protected and it will grow for you , right .
Speaker 2Correct .
Speaker 3So that's where I was kind of going with , but I understand what you're saying on that . So I guess , like I said , we're trying to introduce this to our business owners , because so many of us just do our business and we make our revenue but we do not take time to pull money to the side . And that's where you come in at . I can tell you I have so much money to work with and you can work a plan with me that would help me to actually do the goals . That we come up with is basically having some money in retirement , because you know I'm not so secure .
Speaker 2Exactly , and there's also three ways we can look at it . Not just putting money away . How do you want to do it Are you looking for ? Are you looking for income okay , this could be income . Or if you're looking for the growth , because if you're that at that age where you're not ready to retire but you want to get the most , or if you want to set up a legacy , you've got kids , grandkids , what have you ? So , yeah , there's , there's many ways we can take a look and kind of guide you and help you make the best decision you know , and the great part is .
Speaker 2It's without mentioning anybody's name of who our carrier is , because what the point of this is is to get you set up and once we get , it's like you make a sandwich , but you got to put the ingredients
401k and Retirement Planning
Speaker 2together to make the sandwich . You can't camp the sandwich , you know so if I'm giving you if you , if I'm giving you the meat before 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 3So this is where , like I said , I guess let's say this part , if it's okay to put this part in . How do you get paid compared to some of the financial advisors ? Because I have talked to some business owners and I think between me and you and nobody else , that it makes people hesitate , it's like , oh , that's just another expense , I can't really afford that . So I guess they need to understand how do you work when it comes to them having to pay you . What does that look like ?
Speaker 2My consultations are free .
Speaker 3There you go , you all , you heard him .
Speaker 2My consultations are free . The only I get paid from my carriers . On the back end there's no monthly charge if you make money or lose money with . With what I do as a , as a consultant , 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 about making money on somebody's losing money , right so right , but you know what it's kind of feel weird about making money on somebody who's losing money , right so , but you know what it's kind of . Our I partnered like I told you about the company I partnered with out in California , and they instilled in me that community service is . This is our way of giving back to a certain degree , because we feel that all this information we're sharing , everybody should have access to it , shouldn't pay for it , exactly .
Speaker 3Exactly , exactly .
Speaker 3I agree . So that way . I'm saying that because I want to emphasize that , because I do want my business owners to reach out , hopefully , to you , don , as a financial consultant , but if not , you a financial consultant . Start with them is what I found out that worked for me . Started with a financial consultant because it was nothing I had to pay for and it was based on where did we decide to do ? Because it was nothing I had to pay for and it was based on where did we decide to do . But what I liked about what I had was a plan that led me into my investment side , but I had someone that was not pushing me to do this and pushing me to do that it was more of let me consult you , let's go through what you want to do , and it was more of a relaxed thing . So I definitely encourage business owners to start with a financial consultant that works from that way and then you can progress up as you grow and as you learn to do more . I mean . So that would be my suggestion to all of them .
Speaker 3So let's talk about the next thing that you mentioned . Before the 401k rollover , we have business clients that have worked for companies . And now , with everything going on now , don , people are having to leave their jobs , they're getting fired and they're kind of thrust in doing for self . So what do they do about a 401k or start a 401k ? I mean , what do they need to do ? Give us some suggestions on that .
Speaker 2Well , let me just kind of throw this at you . A lot of business owners don't have a 401k , unfortunately , and there's a real opportunity of skipping it , right ? What is the real cost of this ? Tens of thousands of dollars in tax savings , right , compounding growth , employee loyalty . And here's what people are missing tax savings right now . Right , business owners can defer up to 68 000 a year . That's in 2024 .
Speaker 2Then , as I'm not sure if they've gone 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 pay taxes and instead invest in themselves . Um , skipping it , you end up overpaying uncle salmon taxes . The compound growth over time . Right , we've talked about the iu around different annuities . Um , it's a growth engine . It's a tax shelter and delaying even five years could mean missing out on six figures in future income . So , and then you get the employee retention , recruitment , people .
Speaker 2People want the benefits . Now , you may have benefits , and that's good . It's good to evaluate them every so often . Um , if you're a small company I'm , I don't know if many of them use uh , uh , they call pos . I can't remember what they stand use . They're called POs . I can't remember what they stand for , but they're basically companies that help people with their benefits . So I think they do a lot in-house and this is something we do . We consult with businesses , try to help them , guide them with what's best fit for their company . You know , we talk about the small businesses 20 , 30 , 40 , 100 , a couple hundred . That's what we do . We help them with that and the attention and recruitment . People say , hey , that's one area that I think that would be advantageous because they got good benefits . Because I've had in my former career who had the best benefits , salary's great , but if you got good benefits , that goes a long way .
Speaker 3At this point , the 401k now the rollover is for individuals that actually leave the company , but you can help companies set up 401ks for their employees and things of that nature . Got it ?
Speaker 2Yes , ma'am , we help them or we're working on a new program . Right now I don't have all the information on yet , but we're we're always adding . When I say we , I include my partner company , because they do a lot of the the legwork for me , which is very , I'm very thankful , because they're the ones that kind of steer the boat , if it will . You know , anyway , the 401ks , the SEPs , the single employer pensions , the Roth IRAs I keep saying 401ks at that . We're on a 401k topic , so I think my brain needs to slow down . But yeah , it's whatever they need we can help . We've even got some . One thing that we're running into with companies is employee debt . It's impacting how they perform because they get , they're all stuck with this in their head and we've been able to help those companies , those companies as well .
Speaker 3That's the debt management you can do yes , that's the debt side .
Speaker 2Go ahead and add yes , yes , yes yes , okay , and it doesn't cost anything for consultation . If you decide to sign up , that's a different story , but it's all confidential . The company doesn't know about it . 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 . I have a team of legal specialists that take care of that for us . So there's a lot of areas that people worry about that impact the business , you know , because if they've got kids to go to school or in school to get sick or whatever , it could be a million different things . But you get what I'm saying , though . We have it with the business in mind , especially the smaller businesses that don't really either know where to go or they feel like they're gonna have to drop a serious dime to do it . Yeah , we have your back , we're here for you .
Speaker 3Right , and that's the difference and that's why I was saying I really wanna encourage everyone . Dunn will actually be on our website
Estate Planning and Debt Management
Speaker 3, 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 and everything , because we do want you guys to reach out to Dunn , like you said , just to ask and I'm saying this as a business owner that's been in business for over 20-something years , guys , when I tell you , I left from working at the government Corps of Engineers to moving into private sector , at Altair , to moving into actually getting my own business , and this is where I found that , that role that I was on . I provided the benefits , and when 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 to fool with it .
Speaker 3So I'm telling you , don , you can meet with him , he can start out . Whatever your budget is , you can start with him . Let him know . But , guys , my thing is just don't reach out or don't talk to anybody while you're doing this business . Let's try to allow , go in and at least talk and find out what's out there to help us . Now , one thing I know is you have partnerships of . What you work with is state and wheels . Can you help us along those lines as well , and how was that ?
Speaker 2Well , I don't know all the skinny language , all the legal , but I can tell you this you need to leave your stuff Be protected , because there's . You heard about the superstars and the legal issues they've had . I've heard stories I forget who it was , but they had three years they spent in probate . How about you want my , my family , to get what , what's , what's coming to them , quicker than three years ? That's crazy , right , right . And if you have a , it's good to have an estate get your . You know you can put your house in your estate .
Speaker 2I'm not legally speaking , but these are just examples of things I've heard about and just kind of my own research . But I have a legal team of lawyers , a team across the United States that can help you where you live . They're licensed in your state . These folks are doing a real great job of helping people protect their families Because , in the end of the day , if you're a business owner , most of you have families , grandkids , et cetera , and you want to make sure . I call it the Rockefeller effect . You know Rockefeller set up the thing back in the day 1890s . He set it up that they're still drawing money on it to this day .
Speaker 3Right .
Speaker 2Which blows my mind . How many ever generations later they're still able to access it .
Speaker 3And he's got a big trust , like that years ago , and we can do it now .
Speaker 3That's what you're saying , exactly , yes , so and they and our legal team can can help you do that so that's why I think you you know when we were talking about this is that , uh , I have had financial advisors and other people on the show cpas and all that but the fact that you're a financial consultant , you're're like no , Jackie , I will go through and lay it out . I'm like God , we got to pay you for everything you do . You're like no , no , no , you don't have to pay me . What I'm going to do is sit down with you it don't matter and see , this is really great , because you know what A lot of us that that's .
Speaker 3Go talk to Dunn . You know I got to have my stuff together . Okay , how about that one ? And that's not the thing . That's what you're there for to help us to put it together . So , guys , even if you have so much of a revenue that's happening , but you do have a revenue you want to go in and start with Dunn so he can show you how you can start taking some of that money and start setting stuff up that you can see down the road . That's the big thing about you , because you do have partnerships you are a financial consultant that work for them , but you can get them in touch and get them connected with all the people that can help them . Like you said , the debt management and estate wills . If you did , I did have someone send something to me and ask if you could explain more , explain more how your debt management like a business having debt management . She said what is that and how does that work ?
Speaker 2That's a little different for businesses than it is for individuals .
Speaker 3So if you have a business , everybody's business , that's talking .
Speaker 2Right , right , but for this case , if you have a business because a lot of people have had businesses fail I mean a lot of business and if you you have a business because there's a lot of people have had businesses fail I mean a lot of business and if you've got a business that's failed , then we can , we can help you with that . If it's an active business , I'm not so sure , but personal , it's no problem . So that's kind of a little sticking point right there with that okay .
Speaker 3so when you that , I'm interested . So when a when you say a business failed me , like if you had to close your business because of correct , because of of COVID , something like COVID , exactly , yeah , yeah . And you don't want that to personally go after you , so what you want to do is what Get with you to help deal with the debt , instead of just walking away and living alone They'll help you with the business .
Speaker 2If you've lost your business in COVID , perfect example , and his business is closed down , you can call us and say , look , I got whatever those bills are . Can you help me out ? I was like I'll set you up with the specialist and they'll be able to walk you through what they can and can't help you , and we've had a couple of them where they save significant amount of money to get them out of it and they take care of that yeah .
Speaker 3See . 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 2And if you got student loans ? If you got student loans and you're out of school and don't have no plan to go back , we can help you out with that too .
Speaker 3That's the individual side , or just yeah ?
Speaker 3I mean business owners go to school . I mean , I went to school too , so but I'm saying , do you do ? Can you do an individual calling you for debt and can you do a business owner calling you for debt ? Both ? Yes , that's what I'm saying . That's what I'm saying OK . Ok , that's good , so you can do debt management for individuals and stuff . But even though I know that's not think about it , that's what you are . It's just we've turned it where business people can know something . But definitely we want individual people to know too , to reach out to Don as well , because you can kind of help us on that individual journey of getting ourselves together .
Speaker 2Oh yeah , we do a lot of a lot of individuals , families and businesses . But you know the business community we're kind of like my niche , if you will , and you know helping them save money . Like I mentioned briefly , the supplemental program we have . When you talk about saving money , we've got a 120 , you know the Section 125 , the IRS code . It's basically a tax code to help businesses save money in payroll taxes . Mars does . It gives the employer a $500 credit for each employee they have , puts 50 to 60 bucks back in their employee's pocket . Plus , it provides a telemedicine app that includes mental health and a dedicated doctor nurse at no additional cost as well , at a net zero cost to your company . And oh , by the way , my company takes care of all the administration , the implementation and all that kind of good stuff .
Speaker 3Wow See .
Speaker 2And I'm working with a company right now that , if it works out , we're in a very strong possibility . They'll save a million dollars a year in payroll taxes . Wow , and their people will get taken care of . Here's one story for you With this program , what it does your health insurance is I'm going to use my hands , I'm a demonstrative guy your health insurance is the castle .
Speaker 2What our program does is the most Because it helps cut back on health care costs , because you know the prescription costs will get you and sitting in the doctor's office and you know , having a dedicated telemedicine doctor , nurse , whatever , when you're two o'clock in the morning , got a sick kid . We had a lady who had spent her previously spent forty hundred dollars on medical expenses for her and her three kids . This was two years ago . Last year she spent twelve . Wow , because here's the thing
Supplemental Programs and Final Advice
Speaker 2too , if you've already got health care , what this online method will do , they'll work with your doctor you have through your health care . So if you're sick at 3 o'clock in the morning , your kid's sick , they'll help set you up an appointment for the next day so you can get in there . And the prescriptions are very low cost wholesale costs of thousands of different ones for insulin and all that kind of good stuff , which you know are not basically used .
Speaker 3It's just options out there we're not aware of and , like you said , the forty eight hundred dollar woman just kept it going until she got you guys and 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 just putting it out here . You guys can reach out to Don and 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 this opportunity . I want you to give something , your last words of encouragement or what you want to say to business owners , to give something , your last words of encouragement or what you want to say to business owners . And then I want you to give me a last word encouragement for people as individuals and persons as well , for working with financial consultants .
Speaker 2For business owners , I want to say I hope this has been educational . If you know it already , that's great , but 90% of us don't , and you don't know what you don't know . It's nobody's fault , right , but I commend you for being where you are in your journey . It may not be where you are , I mean , I'm not where I want to be , though , but the fact that you took that step and I want to encourage you to build your brand , take care of yourself and your employees , and I wish you much success .
Speaker 3Okay , that's for the business owners .
Speaker 2And for the individuals . Hey , you've got to take care of those families . I've got a family , you've got a family and we can help you . You've got a college planning . You want to plan to get your estate ? You've got debt that's just driving you nuts . We can help you . These are things that are very important to us . Life insurance is what everybody thought what insurance was . When you think of it , you think of the guy from Groundhog Day . The guy would come bothering you . Times have changed . We don't do that . We enjoy building relationships with folks and we want to be here for you and we wish everyone the best of luck in their endeavors . And you know we work with a lot of different folks and I'm not for everyone . I get that . I have a personality that can be a little much at times , but I got a big heart to help people and I look forward to hearing from you if you need me .
Speaker 3All 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 of time we try to put in so much . So we have to kind of keep it going and I thank you for dealing with my break-ins and break-outs that I do , but I'm trying to move us through , appreciate you , you follow along just great .
Speaker 3What I want to say to everybody for some practical takeaway with this , that I know in the world we're dealing with the financial advisor and financial consultant , what I want each person to always do let's look at what the financial advisor has , the financial consultant , what their experience they have , what they can offer to us based on their services . It's not just a title , but sit down and talk to whoever you're looking at Like I said , Mr Dunn gave us a lot about him and see if it's a match for you . What I don't want us to do as business owners we need to stop not doing anything . That's what we hope this gives you . Encourage you guys not to and to reach out to us . Again , Dunn done . Thank you for being here and I appreciate you . Yes , so you want to say something ?
Speaker 2go ahead one quick thing to you , to the business owners go ask your advisor if he can put guarantees and writing for you for your money , okay well , thank you again , mr dunn , for being here .
Speaker 1We appreciate you so much , you all have a good day .
Speaker 3Yes , thank you , you all have a good day . Yes , thank you , you all have a good day . And until next time , on Giving Power to the Business Owner , we will see you then . Y'all have a great day , bye-bye .
Podcast Closing
Speaker 1We hope you enjoyed this episode of TDJ Equity Funding Insiders Podcast . If you'd like to be a guest or get in touch with us , please visit our website at tdjequityllcnet . Forward slash podcast or email us at podcast at tdjequityfundinginsidersnet . Until next time , take care .
