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Welcome back to our milestone 100th episode of the podcast. In a thrilling twist, we’re reversing roles today, with our very own Dave Wolcott stepping into the spotlight as our guest, while Addie navigates us through his world of expertise. Get ready to unearth a treasure trove of knowledge straight from the vault of our seasoned host.
Dave, often the one asking the hard-hitting questions, opens up about his own transformative experiences with financial setbacks and shares his journey of discovery that led him to adopt the wealth-building strategies typically mastered by the elite top 1%. His firsthand knowledge is a testament to the potential for personal and financial growth.
Through their dialogue, Dave reveals his unique formula for calculating net worth—an insightful blend that goes beyond mere numbers in a bank account. He delves into the critical elements of financial IQ, cultivating a growth-oriented mindset, harnessing the power of relationship capital, and recognizing the intrinsic value of one’s physical health on the journey to holistic wealth.
In a masterful exchange on the importance of mentorship and learning from others, Addie and Dave unpack the extraordinary benefits gleaned from belonging to a mastermind community. Here, Dave’s insights into accountability, opportunity recognition, and the formation of strategic partnerships resonate with the wisdom of a true industry sage.
On this episode, prepare to be inspired, educated, and perhaps even a little entertained by the wisdom of a man who’s not just been talking the talk but walking the walk through the world of finance and self-improvement.
In This Episode
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The Holistic Wealth Strategy and Dave’s formula for true net worth
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Infinite Banking Strategies
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The importance of creating a vision and investing to your personal growth
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Wealth beyond financial measures
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Vision, goals, and planning for the year ahead
Hi, everyone. Welcome to this momentous occasion. The 100th episode of the Wealth Strategy Secrets podcast. I’m your host and guide through this intricate maze of wealth creation. Today represents a significant benchmark in our expedition together. Throughout 99 inspiring episodes, we’ve had the privilege to be firsthand with the ultra-wealthy, peak performers, mindset masters, and investment experts, learning their secrets to success; extracting valuable insights, and uncovering the strategic maneuvers that have led them to significant financial success.
In today’s special episode, we’re taking a reflective look back at the profound wisdom shared by our esteemed guests. We will revisit the pivotal insights and lessons that have shaped our holistic approach to wealth and life. As we enter 2024, be prepared to be enthralled by an incredible lineup of future guests. Each is ready to offer new perspectives and insights that can accelerate your wealth journey.
To facilitate today’s discussion, I’m grateful to be joined by my daughter, Addie Vestel who leads innovations at Pantheon. Here’s to the next 100 episodes uncovering more secrets of the ultra-wealthy and pioneering our path to prosperity in 2024 and beyond. Lastly, if you are finding value in the show, please subscribe to the show, and give us a rating and review. It helps us to continue to get great guests for your learning.
It’s all about making an impact and building meaningful relationships in your life.
Dave, I know everybody is interested in hearing about your background and where you came from to develop the Holistic Wealth Strategy. Would you mind telling us some of the pivotal moments that led you to develop this Holistic Wealth Strategy?
For me, it was back in 2000 when the tech bubble was happening. I can still remember to this day, waking up to a sea of red in the indices and watching, The Dow (Dow Jones Industrial Average), The S&P, and all of my tech stocks that I had been working hard to accumulate get completely obliterated overnight. I felt helpless with that.
I didn’t have any control over that. To me, that was one of my last straw moments in the stock market. In addition to that, there were also these myths around financial planning, things that we heard, things such as putting all of your money in 401(k)s.
You’re going to be able to defer your taxes and grow that capital over time, and that’s the best thing that you can do. But I started asking questions – things such as deferring your taxes, “Does it make sense to defer those taxes?” It may help you out in the short term this year, but as I started to look into it, the one thing that I can say is that taxes are going up in the future.
The other thing is, when you withdraw those funds, they’re going to come out as ordinary income in that ordinary income tax bracket, which is the highest tax bracket you have. Why would you want to do that? Yet, all of the advice is pointing you there. There were a lot of things for me that led me to try to find out how are the top 1% doing it. Because I knew it wasn’t in this traditional way.
Great points. For most people, all you hear are the same things over and over – these government-sponsored plans and what these big companies are offering to employees. If you don’t take anything into your own hands to do some research and figure out your options, that’s all you’re left with.
Tell me about how you began researching or figuring out that there is a world of alternative investments out there, and what kind of helped you leap. I know it’s scary to go against the norm, what everybody else is telling you and these financial advisors. How did you take that next step into this world of alternative investments?
It was realizing that I am my biggest asset. There were plenty of times during my life when I didn’t have the capital that I wanted to invest in that next opportunity – that Real Estate offering. I was trying to figure out what additional ways I could accelerate my wealth even if I didn’t have capital. After starting to study books, and remembering this back in 2000, they didn’t have great Podcasts, YouTube, and all these different resources. I had to network and meet different people.
You can have all the dreams in the world, but without your health, you’ll only have one. Health is vital; it fuels your energy and vitality to achieve everything you aspire to.
I was reading every book I could find about – wealth creation, and entrepreneurship. But there are certain things that I would see examples and read in a book of how someone got a 10x or a 100x return by being creative and thinking through how you could create money out of an opportunity – such as resourcefulness, and resilience. Those things were important to make this real for everyone.
We developed what I believe is a true formula for net worth. The holistic manner is this formula of your financial IQ, plus your mindset IQ, plus your relationship capital, plus your physical capital is the equation for net worth. Going back to this example, when I didn’t have capital to work with, I didn’t have money.
What did I do? I was working on my relationship capital, creating new relationships with people who were playing the game better than I was. They were exposing me to new opportunities that could be partnering opportunities, opportunities to create a new side hustle, tax saving strategies, and things to keep more of my hard-earned cash flow.
I was learning things like that. I’ve always learned through my journey that physical capital is important. What I mean by that is your health. Because you can have all the dreams in the world, but if you don’t have your health, you’re going to only have one dream. Health is important and can drive your energy, and your vitality to achieve the things you want to do.
Build a team that supports you and your vision.
Of course, it’s important to have mindset and financial IQ as well. My financial IQ early on in my career was limited to what my financial advisor was telling me, which was tried and true advice about conventional thinking and how people are doing things. “Let’s follow the crowd and do that.”
However, I realized that there are all kinds of other Asset Classes that I could start investing in. There are different return profiles based on where I am on my journey. Different things that I could do, and new opportunities I could create. It wasn’t until I started learning and educating myself that I was able to make some progress with those. Then, of course, with mindset. We shouldn’t underestimate mindset because it is everything.
We’re about to start a new year – 2024. We’re talking about the focus of today’s podcast is what I have learned from doing a hundred interviews with ultra-wealthy investors. I’ll tell you the one common denominator is mindset. All these people have a tremendous mindset of how they can accomplish different things, get to new levels, get to new heights, and always have that growth mindset versus a scarcity mindset.
Awesome points. One of the biggest things that jumps out to me is the whole ‘holistic’ word in your strategy. It shows how it is much more than the money, the numbers, the strategy. There’s much more to it. I love how your formula and some of these vision planning things and exercises that you do with investors focus on a lot more than the wealth aspect.
But your health, and your mindset – all those things that you mentioned can dive you more into the holistic aspect. How have your core values been part of this vision and that constitution or what do you want that Family Office to stand for when you approach the holistic part of the wealth strategy?
When I was going through my wealth journey and even today, I love to peel back the layers of what does wealth truly means to you. It means different things to different people. It should not be measured by the number of zeros in your bank account. We’re all trying to accelerate and trying to grow.
But at the end of the day, what is the level of your relationships? What type of health do you have? What type of values do you have? Are you contributing and making the world a better place? Because in reality, these are things that make us fulfilled as humans and it’s this journey toward self-actualization.
If you go back and remember Maslow’s Hierarchy, we always think at that base layer where it’s all around financial security and “I’ve got to have a job, I’ve got to have income so that I can provide for my family” mindset. That’s important. We can’t underestimate that. But if you can start to move behind that and go to the next level; it’s all about creating an impact and having relationships in your life.
Dan Sullivan likes to say – it’s about these four freedoms. Not freedom of money, but having freedom of purpose; are you waking up every day being fascinated and motivated with the work that you’re doing, whether you’re W-2 or an entrepreneur? Do you have freedom of time?
Are you able to spend your day as your optimal day? Spending time on your health, on your relationships, on your family, going to your kids’ sports games, or going to your older parents and making time to see them. Are you doing that? We can use our wealth to be able to get there – freedom of time, freedom of purpose, and freedom of relationships are also important in addition to freedom of money.
Awesome. I love it. Let’s dive into some of these alternative investment strategies; how they add to this wealth strategy formula and equation, and how people can apply this to their current portfolio.
One of the most insightful podcasts we had in the 100 episodes was the founder of Tiger21, Michael Sonnenfeldt, who has a community of over 1300 members. The average net worth in that community is 100 million. These are truly the ultra-wealthy. These are the best of the best in terms of investors and people who are managing their wealth. One of the biggest insights I got from that interview was that these people only have 22% in terms of allocation of their entire portfolio in Equities.
I know a lot of people out there are listening to this podcast. They’re learning. But I guarantee you, that a lot of people have more than 75% exposure to Stocks, Bonds, Mutual Funds, or 401(k)s, which still have the same type of exposure. If the best of the best only have 22% in equities, wouldn’t it make sense to model them and realize that there’s a lot that’s gone into that asset allocation model? They’re trying to limit their risks.
The other key buckets made up in their portfolio are Real estate and also alternative investments in Private Equity. Of course, they have cash positions and life insurance as well. It’s important to start to structure a portfolio model of your assets that’s not the traditional 60-40 that your financial planner is advocating because those are all of the products they can sell to you under their umbrella.
You need to be looking at it much more holistically, which we view as assets that have strong macroeconomic fundamentals because they become more recession-resistant. You’ve always been in favor of supply and demand type economics – such as Real estate, where you have shortages in certain markets, and people need homes. Those are basic needs that we have, it’s not going away.
Wealth can get us there, but true freedom comes from time, purpose, and relationships—alongside financial freedom.
We’d like to invest in energy because it continues to grow wherever you live in the world and whatever industry you’re in. We’ve got this growing middle class right around the world that now is getting more cars, washing machines, all these things. They need energy to support this. Investing in the side of looking at these macroeconomic fundamentals is important.
The other real big lesson is looking at having a three-dimensional return profile to invest in these assets. If you had a thousand dollars worth of Amazon stock, let’s say you’re only hoping for one thing, which is that stock to go up in value. All you’re doing is hoping it’s going to go up in value, but in reality, we know that it can go sideways – it can go down.
But when you invest in some of these assets that we’ve been talking about, such as Real estate, Energy, and things of that nature, we’re able to drive cash flow, tax efficiency, and also force an appreciation into the asset so we can drive up the value. We’re not hoping the value is going to go up. We have a business plan that’s going to drive value and create a better return. In that light, we see these as three-dimensional type return profiles around these assets.
Interesting. I don’t know how people have stumbled across these ideas sooner, but it does take an understanding and knowledge to know how you can utilize these. I’d love it if you could talk about an example of how that would look for somebody.
I’ll answer your first question too, Addie, which is why do people not realize these are there? I never saw these types of investments were reserved for the ultra-wealthy. They only had exposure to these. But when the JOBS (Jumpstart Our Business Startups) Act came out, they created essentially this form of crowdfunding where investors can come in for as little as $50,000 into these types of assets, pool together, and create what many of us know as what’s called a Syndication.
We can all group our funds, and then invest in a $50 million Real estate property. Versus in the past when people didn’t have access to these types of investments, as long as you’re an accredited investor, you can at least get access. This is why no one has seen them because they’ve been invisible to a lot of people. A lot of people become accredited, but they haven’t realized what accredited access gets them. Their financial planners aren’t advising them about these opportunities unless they have it in their portfolio.
Could you share an example of how one of these deals looked – the return profile, or some of those things in comparison to a stock?
Creating a vision is an investment in yourself.
One of the presentations I had worked on, that I spoke at recently; it was interesting looking at a multifamily property throughout 20 years. We compared essentially your traditional investment if you left your money, and we had it in the S&P for about 20 years. That was growing at a 7% return, which was during the timeframe that we estimated that the return profile that it made was 7%. However, what planners never tell you is that growth is then subject to taxes, fees, and inflation.
What you thought was that 7% return and growing over the long haul was more like 2.5%. If I compared that to a simple investment that most people understand, which would be multifamily real estate or apartment buildings, in this case, you’re able to drive actual passive income from the investment.
You can use bonus depreciation to offset that income coming into you tax-free. There is some type of business model. Here’s a simple example – we go into one of these properties and convert 300 toilets to low-flow toilets. We reduce the water bill by $150,000 a year which improves your net operating income in the asset. That’s an example of how you can get that three-dimensional return in that asset class. You compare that to how you’re doing in the stock market and it considerably outperforms with less risk.
Definitely. I’m convinced. Let’s also talk about the Infinite Banking Strategy. I know you’ve interviewed a lot of top-notch guests like M.C. Laubscher about the strategy and how it’s a foundation for your Holistic Wealth Strategy approach. Let’s dive into that and some of the opportunities that it offers investors; and how it forms the foundation for this strategy.
This truly is one of the wealth strategy secrets of the ultra-wealthy. The more I got to know high net worth, ultra-high net worth families, and Family Offices, they use this strategy as a cornerstone to their wealth. Because we often think about wealth in terms of how we grow and multiply our wealth; what is that rate of return? But at the same time, we want to be able to protect our wealth.
Then we’re also looking at multipliers. This is something that the ultra-wealthy do well, which is how you can get $1 to be doing multiple things at the same time. By using a properly structured whole Life Insurance policy and what we call Infinite Banking.
Infinite Banking is the process of you becoming the bank, utilizing this life insurance policy. What you can do is create a tax-free income that’s compounding over time, and allows you to do many different things. Number one, you’ll never outlive your money in future years; unlike the stock plan, which has you taking money out every year and killing your golden goose when you get into your later years. This one is constantly accelerating.
One of the biggest things is you have access to the capital. You can fund the policy, you’re able to take capital out, and then go pay for your kid’s college. Use it if you’re in between jobs or your spouse lost their job and you need to bridge for a certain amount of time. I can borrow this capital, no questions asked – fill out one form, and have the capital wired to your account inside of a week. That is powerful.
Mitigating the major wealth destroyers, like long-term stock market losses, can have a profound impact on your wealth.
Let’s talk for a second, Addie, about how important is in this specific timeframe that we’re in. January 2024, we know there’s a ton of uncertainty in the world in terms of geopolitical events. We’ve got this election that’s coming up, and an impending recession that’s looming. We have all of these things going on and then there’s much uncertainty. How do you create certainty in an uncertain world? It’s trying to take back control and be proactive in planning for some of these different things.
If we were able to start to allocate some of our investment portfolios into a vehicle such as this, you’d now created this liquidity strategy that is not only giving you the ability to access this capital being a reserve capital and taking the money out when you need it, but it’s also providing you with this tax-free compounding. That’s creating more velocity in your overall portfolio.
You start to get this working for you in conjunction with some of those other asset classes that we talked about, and you can slowly start to build up this whole snowball effect where all of these things are working together. Now, all of a sudden your portfolio is growing 20%, 30%, 50%, and more.
It’s powerful when you see how it works – the tax-free accumulation of wealth and also the tax. It’s part of that tax mitigation strategy. Can you talk about the tax side of it and also the legal protections or sheltering effect that this policy could have on your money?
I never thought I’d be so excited about talking about taxes. But after years of running a business as an entrepreneur, I got frustrated with, number one – never knowing I would finish the year off that you’d run your financials, and see how you were doing, but never knew what was our tax liability. Then April would come around and you’ve got this massive bill that you were not anticipating.
I worked up the chain and started to work with more prestigious CPA (Certified Public Accountant) firms, and I continue to get the same results, which is doing your tax planning in a rearview mirror versus doing proactive tax planning. Looking at your entire environment and then trying to structure different things into your overall strategy. In this case, you asked the question about Infinite Banking.
That should be something that a proactive CPA should be advising you on – that you can do tax-free compounding. Even the Infinite Banking policy can be strategic and can outperform the higher return in the stock indices with much more predictability. Now, do you need to put everything in there? No. But having some allocation in there increases your predictability, and your control, and reduces that uncertainty.
When you have clarity on your destination, you can break through any barriers in your way.
It ties into the concept of becoming your bank, too. Giving you control over that money and the tax stuff is an added benefit. But I’m also applying that strategy to myself or a high net worth individual with a 100 million net worth. How would the strategy look for comparing somebody like me who is a bit younger and not as far along in their journey compared to somebody who’s at a hundred million?
It’s interesting. This is one of my passions, it is trying to share these lessons learned that I’ve had over the years and impart them to people wherever they are in their journey so that they can accelerate their results. You can get there much faster than I did with the proper education and support, having a team that supports you through the journey, and making the paradigm shift from traditional, conventional planning.
It’s been rewarding in my position over the years to watch people implement this holistic wealth strategy and go through all different five phases of it, at different levels of net worth. I am seeing people completely grow their net worth by over seven figures. Then that continually keeps compounding.
It’s massive results versus the typical 7%, set it, and forget it in your 401k or the stock market. But it’s implementing Infinite Banking – you’ve got tax-free compounding and strategy. It’s about implementing a proper tax strategy that can reduce your number one biggest expense. It’s about reducing some of those bigger wealth destroyers, looking at stock market losses over the long term and how that impacts your wealth.
It’s about diversifying into different asset classes that can create what I call a ‘hundred-year portfolio.’ Can you get asset classes that are much more recession-resistant and can work through multiple generations? It’s about creating a team around you that’s supporting you and your vision.
What that means to you; maybe you’re later on in life and you’re looking for more cash flow at that point. You’re structuring your assets like that and you’re getting the right asset protection planning advice and estate planning advice then.
Change the way you think about money. Use new strategies and tactics to accelerate your growth and make a bigger impact on your life.
Putting all of these elements in place is essentially what a Family Office is. A Family Office is a structure of families have a hundred million or more, they have a dedicated team of all these different types of professionals working all around them that all support their vision and what they’re trying to do. Working on their wealth every day versus having a traditional financial planner who’s giving one-dimensional advice, based on the masses, only recommending products that fit into their suite.
Having this holistic view of that is critical for people as they grow their wealth. Building that right team and starting to implement these things. I’m happier to see the results that we’re having with investors and people transforming their lives. Their mindset is amazing.
Awesome. You keep touching on family generations and wealth that can stand the test of time. Do you want to talk about legacy and how you plan to achieve your goals related to creating a legacy for yourself and your family?
Legacy is fascinating. The statistics are that 75% of G2 or your Generation 2 wealth is lost. By the time it gets to G3, it’s 90% of all of that wealth was lost. If you’re a Gen 1 person and you’re an entrepreneur, an investor, and you’ve worked hard all of your life, there’s a real responsibility to pass on what you’ve learned around building that wealth. You’re not trying to pass on the wealth itself, but it’s the values.
“What about all that hard work? What do you put into achieving that? What about all the values that are important in your family that hold your family structure together? Don’t you want to pass that on to future generations?” I do, that’s important for me. One of my goals is to have these values be passed on to future generations. I would like to make an impact in the world.
I would like to transform the way people think about money. And in doing so, they can create unlimited freedom in their lives. They can also start to live much more fulfilling and extraordinary lives versus being stuck in some of these old paradigms that we’re all in or limiting beliefs, or conventional thinking – whether it comes from Wall Street, corporate America, or the government, but change the way you think about money. Use some of these strategies and tactics to help you accelerate that, then create a much bigger impact on life.
I love the phrase that you’re your biggest asset and you constantly have to be sharpening the saw. You have to be learning, educating yourself, and using all of these things to improve yourself before you can take action and impact others.
Do you want to talk about your personal goals for growth and improving yourself? I know you’ve talked about health and how important that is to you as well as the financial IQ aspect, and always learning. I’d love to hear about what you’ve learned in terms of how you can improve and grow yourself.
Along the journey, there will be bumps and stops, but we’re ultimately reaching our destination.
It all starts with creating a vision. In this day and age, it’s so hard. We’re all constantly bombarded with the amount of information that’s coming at us with the amount of things that we have to do and get done. This is perfect timing for people to think about if you don’t have crystal clarity on your vision, sit down this weekend and work on it with your spouse, because it’s the beginning of a new year.
There are a lot of things going on. It all starts with understanding that vision. Think about it, any time you go on a road trip, what’s the first thing you do? You plug in your GPS coordinates and you say, “We’re going to this location.” There’s going to be bumps in the way and there’s going to be stops but we’re ultimately getting to this destination.
Sadly, people haven’t spent the time to do that with their wealth, with their lives. When you do have that clarity on where it is you’re going, then you can bust through walls. You can deal with obstacles, you can set the allocation of your portfolio to support that. You can build a team of like-minded people and mentors to support you to get there. All of those things from your original question – it’s all around investing in yourself. Creating a vision is investing in yourself.
That time couldn’t be spent better than having true clarity in terms of where it is you’re going. I believe we’re on this planet for a short amount of time. Don’t you want to live it to your maximum potential? Because the last thing we want to do is wake up and the next thing you’ll think, “Wow. Another decade has gone by, another year has gone by.”
We haven’t done those things that we’ve wanted to do. We haven’t traveled, we haven’t spent time with loved ones like we’ve wanted to do. I encourage you people to think about that. Wherever you are on your journey, think about creating that vision, think about getting to where it is you want to go, and then invest in yourself to be able to get that.
Are you investing in your health? How many things are you doing daily in your health to get you to the goal that you want to have? How are you investing in your relationships? How are you investing in your education? It’s funny to me, I never considered myself a good student going through school. I worked hard to get a B (grade), never liked memorizing things and going to school. Here I am now spending six figures on my education through masterminds, online courses, and training.
I’m spending a lot of money on my education. It’s interesting. I’m seeing the big ROI (Return on Investment) from that. That’s massive. I love to be able to share that with others, that’s a huge takeaway. Investing in yourself will always yield the biggest return—often 10x or even 100x—when you prioritize personal growth.
Definitely. It shows how it’s been paying off, investing in yourself and putting yourself first. That’s the first step to any of this. You can’t get anywhere without your plan and your vision. Do you have any advice for investors or people listening today, on where they can start in their journey and set 2024 off with good strong intentions for the next year?
Wherever you are on your journey, create a clear vision of where you want to go and invest in yourself to achieve it.
To summarize that, let’s go back to that formula. We can summarize that formula for people, which is your net worth is equal to your financial IQ, plus your mindset IQ, plus your relationship capital, plus your physical capital. If you’re short in one area, or you don’t have the time to invest in your physical capital at the moment, or maybe you can change some of your habits and your goals to increase your financial IQ this year – have you joined any mastermind groups? Do you have any accountability partners?
Speaking of the mastermind, one of the reasons we created our Mastermind and Virtual Family Office was to provide a way for people to plug into all of these resources. They could transform their mindset by sitting in a room with other like-minded people who are trying to get to the next level and learning how you do that. It’s about creating accountability partners to say, “I am going to get and place asset protection because I’ve worked so hard, I’ve worked 30 years to get to a place that I have in place.”
But what if all of a sudden I was facing a $10 million lawsuit? Or what if you get that call from a doctor who says, “You’re challenged with something.” Are you prepared for that? But by being in this kind of mastermind-type community, you have accountability partners, you have like-minded people helping you to level up, helping you to expand your mindset, identifying new opportunities and strategies, new partnerships, strategies. All of this is financial engineering as well.
You’re only limited by your mindset and where you can think of the opportunities coming in. What are you doing to be able to do that? The advice and the takeaway as people enter the new year is to try to put that formula into place. I understand that you may not be able to do everything at once, but try to make some investments in your education, your mindset, your relationships, and your health. Those are the key ones that are going to give you some progress.
The last comment I’ll make, is Dan Sullivan’s insightful question, “If we are having this conversation one year from now, what needs to happen for you to feel good about your progress personally and professionally?” You can break that down further by identifying the top three dangers or risks that you have in your life. What are your top three opportunities that you have that you need to take advantage of? And what are your top three strengths that can help you seize those opportunities and mitigate those risks?
Awesome. I know personally for me, a goal is to listen to more podcasts because I feel the analogy that you use about learning a new language. The best way to do that is to fully immerse yourself into the culture and be there, speak it, hear it, learn it, and listen to it on the TV. It helps your way of thinking because it’s influenced by the people you’re around and what you hear.
The same goes for this financial education journey. You’re not going to learn if you’re not around people who are talking about the same thing, and speaking the same language. It’s awesome how different groups of like-minded individuals can come together, and accelerate how quickly you pick up, and learn these concepts, these critical ideas and strategies because It’s never a one-size-fits-all.
In reality, it’s the journey toward self-actualization that brings us fulfillment as humans.
Everybody’s got a different situation. Applying these same concepts is cool to be able to apply them to yourself once you’re hearing them in different contexts and how different people interpret these things.
Love all that. What’s your biggest takeaway from the past year and the past 100 episodes interviewing people? Do you have any favorite things you’ve learned? Interesting things or what was your favorite episode?
Some of my favorite episodes were we talked about Michael Sonnenfeld with Tiger 21. That was amazing. Their asset allocation strategy. That was insightful. I enjoyed the conversation with Garrett Gunderson as well. He’s been in the space of wealth creation for many years and thinking about things alternatively.
We had a lot of parallels in our journey in terms of the discoveries he made. Once he started, he was a financial planner, and then he started to get some exposure to Family Offices seeing how the ultra-wealthy were investing and starting to use some of those strategies and tactics I thought that was quite insightful.
Neal Bawa is the data analytics guru around investing in Real estate. I had good thoughts from there. We’ve had many great guests and I’m excited for next year as well. We have several even better and bigger guests that we’re going to continue to help people and provide this education that’s free for everyone to access so that they can start growing their game and leveling up.
Invest in your education, mindset, relationships, and health.
I’m thankful that you get to bring this content to us and we get to sit down and hear a conversation. You bring a lot of great insight, great experience, and the right questions to ask. Thank you for having me and having all these great guests that we get to learn from as well right alongside you.
I appreciate the opportunity to share everything with our listeners. We’re going to continue working hard for all of you because, at the end of the day, that’s what matters. Are you able to increase your financial IQ, and your relationships through the podcast? We’re pretty excited about that.
One of the things that we wanted to do to help you with your journey and try to kick off the new year is to provide a Holistic Wealth Strategy Scorecard. You could fill that out to gain insights into whether you have any gaps in a particular area.
Are you strong in a certain area? It might be something that lights a fire in terms of your vision, your goals, and what you’re planning for the year. People can go to pantheoninvest.com. If you fill out that form, we will send an email to you with a scorecard.
Awesome. I can’t wait to get my hands on it.
You bet. Thanks, Addie.
Have a great new year!
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Further Resources
Your 10-Step Actionable Checklist From This Episode
✅ Evaluate your current mindset and ensure it aligns with a growth-oriented approach. Acknowledge that mindset is crucial for achieving financial success.
✅ Commit to ongoing personal development through education, health, and relationships. Engage in mastermind groups, online courses, and training to boost your financial IQ and mindset.
✅ Implement a holistic approach that includes financial IQ, mindset, relationship capital, and physical capital to enhance overall net worth.
✅ Maintain and improve your physical health as it is integral to sustaining long-term wealth and vitality.
✅ Learn about the Infinite Banking Strategy and how a properly structured whole life insurance policy can serve as a powerful wealth-building and protection tool.
✅ Develop a comprehensive wealth strategy that includes tax mitigation, asset diversification, and long-term planning. Aim to create a ‘hundred-year portfolio’ with recession-resistant asset classes.
✅ Prioritize passing on values and financial wisdom to future generations, ensuring your wealth and the principles behind it are preserved across generations.
✅ Define a clear vision for your financial and personal goals. Use this vision as a roadmap to guide your decisions and investments throughout the year.
✅ Connect with like-minded individuals through Mastermind groups or similar communities to gain insights, accountability, and support for achieving your goals.
✅ Access and complete the Holistic Wealth Strategy Scorecard to identify gaps and strengths in your current strategy. Use the insights to refine your approach and set strong intentions for the new year.
About Dave Wolcott
With over 20 years of experience in alternative assets and insights gained from top investors, Dave Wolcott developed the proprietary Pantheon Holistic Wealth Strategy. This approach merges his deep knowledge of private markets, tax strategy, and multi-generational wealth with a mission to empower clients. Under his leadership, Pantheon Investments offers a pathway to financial freedom and legacy wealth, focusing on values, purpose, and fulfillment beyond traditional stock market investments.