064 - The Financial Advisor to the Contractor Stars

Written By Guest User

Does your small business or construction company have a financial advisor? Would you like it to? Listen to our interview with Eagle Strategies’ advisor, Foster Wilcox, to hear the importance of working with someone who understands your business, your industry, your type of employees, and what works for companies similar to you. Foster is the financial answer to your business’ investments, your business’ policies, and your employee’s questions.

Show Notes

  • Who is Foster Wilcox? (2:00)

  • How to start retirement planning. (10:45)

  • No experience? No problem. (14:00)

  • Deductions! (15:00)

  • 401ks & Roth IRA’s. (18:00)

  • The Stock Market. (26:00)

  • The changes in your company. (30:00)

  • Why life insurance? (41:06)

  • Disability insurance. (57:00)



Quotable Moments

  • “Two things in life are certain – that’s death and taxes, and we help with both of those.” – Foster

  • “There’s a notion out there that retirement planning starts with a million dollars. It doesn’t. It starts with a conversation.” – Foster

  • “The financial world has made it so difficult just to get an understanding of the language.” – K

  • “The traditional IRA is the personal version of a 401k.” – Foster

  • “Knowing your employee’s goals, and recognizing that they have goals and financial goals, just like you do, and helping them get closer to them is in your best interest.” – K

  • “Life insurance – it’s a great tool that can be used in a lot of different ways. We can get tax-free access to money before 59 and a half.” — Foster

  • “A golden handcuff – set up a personally-owned life insurance policy for him and let the company bonus him compensation to pay the premiums on that.” – Foster

  • “Over 90% of disability insurance policies that payout are due to illness.” – Foster

  • “If you’re going up to the 100th floor of a tall building and there’s an elevator with one steel cable and there’s another one with two steel cables, which one are you going to pick? The one with the two steel cables – your disability policy is that second steel cable on your income.” – Foster



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065 - Partner or Not to Partner
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063 - Simplifying Strategy