How To Create A Wealth Strategy To Exponentially Increase Wealth with Dave Wolcott

He is the Founder and CEO of Pantheon Investments. Pantheon gives entrepreneurs an opportunity to passively invest in top real estate and alternative assets that provide cash flow, tax benefits, and a reliable alternative to the volatility of the stock market, through leveraging The Pantheon Advantage. Pantheon is currently an equity partner in over 2,500 doors with a combined value of over $450 million across the US. Dave is also the author of the Holistic Wealth Strategy: Your Roadmap To Financial Freedom and has been a featured guest on numerous media outlets

Prior to Pantheon, Dave earned his bachelor’s degree from George Washington University, served as a Captain in the Marine Corps, and established himself as a successful entrepreneur who built 3 companies over the past 2 decades. Dave is more passionate than ever about helping entrepreneurs build wealth through providing exclusive access and curation of the best opportunities, the best operators, and the best markets.

Episode Highlights Here:

Dave:

And it’s actually a roadmap of incentives for business owners and investors, but you just know how you need to know how to, you know, put that into place.

Pierce:

What are some strategies you guys are using for? To be more tax-efficient? And to kind of keep that,

Dave:

Sure. I mean, and I’ve got a lot of experience here. I mean, this, this doesn’t just come up, you know, this isn’t something that I just came up with, right. I spent, I spent many years building a business, and then, you know, come tax time writing really big checks to tax preparers, then not even knowing actually what my tax liability was, you know, and having to scramble for capital, you know, come April. And then, you know, on top of that writing six-figure checks, right, the more successful you become as a company, you know, the more taxes that you’re paying, and again, that that entrepreneur, that problem solver in me was just saying, you know, there’s got to be another way, right? I mean, and, you know, Kiyosaki kind of talks about it, but what’s in reality? How do you really put this together, I fired actually five different accounting firms over a course of about a 10-year period. And I finally ended up with I was actually working with Tom Wheelwrights, firm provision, who just completely changed the way I think about tax. Right, and, and the tax code is 6000 pages, right. But there’s only one page that says, you know, you must pay tax, the rest of the pages are all about tax incentives, right. And it’s actually a roadmap of incentives for business owners and investors. But you just know how you need to know how to, you know, put that into place. And if you work with a proactive tax planning, that can build a strategy around, you know, around your business around your life and what you’re doing, so that you can be properly structured to take advantage of things. And I’ll give you a simple example. Right? So and I eat my own dog food with this strategy, right? We created a vision, and my wife and I wanted to go to Italy and live in Italy by property. So we bought property there 10 years ago, and we purchased it, we bought a multifamily house that was kicking off income here in the US, that paid for the property over there. And then our kids, we’re in the business. So we’ve been flying to Italy for the past 10 years for our vacation, which is tax-deductible, because we’re going to see our asset, right, and, you know, doing improvements, getting kids involved in the business, you know, which is excellent, they’ve gotten to, you know, learn a new language, new culture, things like that. So, you know, that’s one very small, you know, tactic, right, but a habit, but understanding how taxes work and everything and what the incentive is, you know, you can position yourself to, you know, really become, you know, efficient with you. Another example would be, again, some of the assets that, you know, we’re looking at, right, such as, you know, real estate, self-storage things where, you know, you can typically depreciate maybe, you know, 50%, as high as sometimes 90% of an asset value of your investment, right into the property. And when you see what that does to your IRR on a return, it’s very, very huge. And I’ve also, you know, exited a company myself. So I know, the DST is, is a phenomenal strategy, right? For certain parameters, but in addition, you know, anytime that we’re having, you know, capital gains, you know, things that we’re working through, you know, we’re constantly buying, right, we just keep buying assets and keep resetting the clock on depreciation. Yeah, absolutely.