Keep More of Your Money with Cameron Davies

Hello, hello, hello, and welcome to another live episode of The Homeowners Show. Uh, here live with the net at Pedro's in Conroe. We got a special guest with us tonight. Excited to get into this with you guys. Uh, thank you so much for tuning in, subscribing, and hitting all of the love and like buttons for the show. Cameron, how you doing, my friend? Oh, pull that, pull that right up to your mouth there, bud.

I'm doing great, thank you.

Oh, look at that, you got a radio voice. You didn't even know it.

I brought that special tonight.

Yeah. So real quick before we get into it, want to thank you to our sponsor, Lone Star Appliance Repair. If you need an appliance repaired, give them a call at 936-647-2364. Incredible company. Happy to have them on as a sponsor. Cameron, real quick, We actually just started using you in our business.

Correct.

Let everybody know what you do.

Okay, so, um, you know, in general, I help people take back control from the government, um, take back control from taxation, and keep more of what you make. That's kind of the thing I am looking to do. And so, um, with your company in particular, uh, we did a group plan. We were talking about retirement benefits, right? And doing that in a way that's not a 401. In a 401, you have a lot of restrictions and rules. What you do for one, you have to do for all. In my program that we offer to you, we're able to do an executive carve-out plan that allows us to pick and choose who we want to include in the

plan and at what level we want to match those individuals.

Yeah.

And so you can't do that in a 401 because again, what you do for one, you can't do— you have to do for all.

Right.

Our program again has that unique ability to flex and do what you want to do. In your case, we offered it to all of your employees, but it might be a situation where they want to offer it to their exec team, or maybe just the owner wants to have benefits himself but doesn't want to have that necessarily yet for all of his employees. He might want to add them later. Yeah. And we can come back and do that. And there's no time of year we have to do that. It can be done anytime.

Right. Which is great because if there's an employee that I have that I don't like, I can exclude them openly.

Right? Open shame.

That's right. You're not doing so great, bud. Step it up. Maybe you'll get into the plan.

Exactly right.

Well, and I think a lot of people think of a 401, it was never designed to be a retirement vehicle, right? I mean, it's better than nothing, but you're saying that there's a way for individuals and companies to provide a better way to retirement.

That's correct.

Yeah.

So the owner, the inventor of the 401 came out recently and said, It was a good plan at the time. We were in a high tax bracket at the time, but they were thinking that when they retired, they'd be in a lower tax bracket. And that was probably true at that time, but right now we're in a low tax environment compared to where we've been historically. And so we'll likely be seeing much higher taxes in the future. And so if you have a tax-deferred vehicle, you're deferring tax off until later, then you're going to pay tax, and that tax could be drastically higher. If we look at the way the The debt with our country's going— we have $33 trillion of reported debt, right? But

if you look at usdebtclocks.org, there's another number called unfunded liabilities. That's $170 trillion. Add that to the $33 trillion, you're over $200 trillion of debt. Yeah, experts are saying that taxes could double in the next 15 years.

Yeah, I mean, like, $200 trillion sounds like unreconcilable.

Scary what that is. Yeah, it's— we've never been in this territory before.

Yeah.

In a place we've never been.

Yeah.

So, um, you know, having that be a vehicle that can— the way we put it together, we can grow that money tax-free and we can take it out tax-free. We're not looking at pushing tax off and paying tax down the road. It's going to be growing tax-free, coming out tax-free for those folks who are in the plan.

Yeah. And one of the other cool things that I know that you mentioned to us when we were getting it all set up is that the people, once those plans are funded, to a certain level, they can actually borrow against them.

That's correct. That can happen very quickly too, in a lot of cases in the second year.

Yeah. And well, and like, to me it was like, okay, like it's cool that you can borrow against them, but you were telling me like those accounts continue to mature like as if that money was still there.

That's correct.

That's so cool.

A very unique vehicle. When we have money building this account, that money becomes available to borrow from. When we borrow, that money is still in our account and we have a loan out for that money that we're putting to work somewhere, somewhere else.

Right.

We're putting the same dollar to work in 2 places.

Yeah.

Very few places you can get that done. And then what is really amazing too, on top of that, is we have arbitrage. So if your loan rate's at 4%, that you're borrowing in a smaller amount, but your total account value is much larger and it's earning 7, 8, 9%, you have arbitrage working in your favor.

Yeah.

So that creates a very unique situation. I had something that happened recently that kind of plays into what we're talking about. I'm always looking for business owner benefits and how do we again take back control, keep more what we make. I had a situation recently, my vehicle was leased because it was a tax write-off for my business because it's for business use. When that lease was up, I talked to the people who have the lease with the vehicle and I said, you know, what are my options? They said, well, you can bring it back and just turn it in. you can get another vehicle here, or you can buy out your lease.

Right.

And I said, well, that's interesting. What's the lease buyout? They told me the number. It was about $25,000 less than what my vehicle was worth. So I borrowed from my plan and I paid that vehicle off. And now the money I was paying on the lease monthly, I pay back into my account.

There you go.

So I'm making money while I'm using that money in that fashion.

There you go. That's cool.

Very cool.

I mean, and it's good when you can be your own bank.

Exactly right.

Yeah.

So that's what that is, is becoming the bank and not having to go to a banker, but being the banker. So it's a very unique benefit.

So, I mean, this is a networking meeting for business owners and things like that. Do you have to own a business or be part of a company in order to access plans like this?

Great question. So I work with businesses and individuals.

Okay.

And so an individual can have a plan like this themself. there's one piece that they wouldn't get, and that's that there's a tax deduction as a business expense when you have this as a company plan.

Okay.

That benefits the business owner. If you have an individual plan, not through a business, you're not a business owner, you miss that one piece about tax break on the money going in.

Okay.

But you still have that tax-free growth and tax-free income coming out.

Okay.

And the borrowing ability and being your own bank.

Could you also do it through like a trust maybe if you're an individual?

You could do that for sure. You could have a trust involved and have the trust own the program. So there's a lot of ways to put that together.

Would they get the benefit like a business would if they did it through a trust, or is that different?

Uh, well, the tax benefits are the same with the vehicle whether that's a trust or not.

Okay.

That just adds a layer of protection. I got you.

Okay. I didn't know if it operated like an LLC or any— anything like that.

So multiple ways to set the trust up, but that's kind of like a tool in addition to the program itself.

Probably a good question for an attorney.

Yeah, they're the ones who set the trust up.

Oh yeah, that's right, that's right. Yeah. So, well, anything else everybody needs to know?

Well, I think that there's a lot of things that we can do with the tax code. And I think that, you know, I'm not anti-government or anything anti-tax. We should pay taxes that we owe. But we can also take a look at the tax code and see what can we take advantage of that's there for us.

Right.

Tax code is there for people to use, and it's thick.

Right.

So we need to find those places in the tax code that allow us to take a tax advantage or a tax benefit. And then put more in our pocket, right? Less going out to the government.

Well, I mean, someone explained to me that not the entire tax code, but I mean, like, a good way to look at taxes is it's the government telling you how they want you to spend your money, correct? Or where you want— where they want you to put your money, because they will give you incentives to put it where they think they want it to go.

That's right.

Now, it's your job to work through that and figure out whether or not that's beneficial to you or helpful to you. But like, they're going to tell you through, you know, rebates and credits and all sorts of tax breaks, like how they think and how they want people to be investing their money at that time.

Yeah, you said it correctly. It's an incentivization, incentivizing people to do something. And when we take advantage and we understand those codes, there's a lot we can do.

Yeah, because most people look at it like a penalty.

Right. A lot of people look to their CPAs for that, and CPAs are great at keeping you in line and keeping you in know, within the codes, what the codes say, right? But they're not usually looking for all the strategies, and they're not usually tax planners. They're tax managers who do your tax forms for you and keep you in compliance, but they're not really there. Most of them aren't that savvy with the actual ways that we can save taxes and the codes that we can use for those things.

Yeah, well, if you've maybe made somebody more curious about what it is that you do and they're interested in finding out more about it, how do they get a hold of you?

Well, my website is arsretirement.com. They can go there and take a look. I'm revamping the website right now, so that'll be new very soon. It's in the works.

Oh, cool.

I'm putting some videos, a lot of things on there that we didn't have before. My cell phone number, direct number, is 281-250-2517.

Okay.

And they can also email me at retirewell@arsretirement.com. I'm sorry, arsretirement.com. Cameron@arsretirement.com.

Fantastic, man. Thank you so much for sitting down. Thankful to everybody for listening in here live and out there on Facebook and the YouTubes. Join us next time and we'll have another great episode. Cameron, thank you so much for sitting down, bud.

Thank you, Craig. Appreciate it.

Y'all have a good night.