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Living The Corporate Life | RMT211
Episode 21127th October 2023 • Real Money Talks • Loral Langemeier
00:00:00 00:22:40

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Join me in exploring the realm of financial knowledge, investment tactics, and the vital role of tax planning for corporate life.

Learn why it's crucial to maintain a balance between both your personal and professional spheres as you strive for generational wealth.

Remember, the path to financial prosperity begins with the first step – and you've just by being here you have taken it.

Meet Loral Langemeier:

Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and best-selling author of five books.

Her goal: to change the conversations people have about money worldwide and empower people to become millionaires.

The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral relentlessly and candidly shares her best advice without hesitation or apology. What sets her apart from other wealth experts is her innate ability to recognize and acknowledge the skills & talents of people, inspiring them to generate wealth.

She has created, nurtured, and perfected a 3-5 year strategy to make millions for the “Average Jill and Joe.” To date, she and her team have served thousands of individuals worldwide and created hundreds of millionaires through wealth-building education keynotes, workshops, products, events, programs, and coaching services.

Loral is truly dedicated to helping men and women, from all walks of life, to become millionaires AND be able to enjoy time with their families.

She is living proof that anyone can have the life of their dreams through hard work, persistence, and getting things done in the face of opposition. As a single mother of two children, she is redefining the possibility for women to have it all and raise their children in an entrepreneurial and financially literate environment.


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Loral Langemeier:

Welcome to Real Money Talks, real strategies from the money makers and the world changers that you can use to make millions. Keep those millions, multiply your wealth, and build your team. Here's your host, author of five New York Times best sellers, money expert on Dr. Phil, CNN, CNBC, the street TV, Fox News, and the view Loral Langemeier.

Loral Langemeier:

So living corporate life, it's a term that I came up with, because people say, what do you do? Well, we make millionaires, well, how do you make millionaires? Well, if you're just an employee, and which is what we're taught, which is why this is so challenging, and difficult for a lot of you, and I'm gonna say it's not difficult, it's different. It's different to become a millionaire. What millionaires do versus people who just have jobs is very different. Nobody starts their career and job necessarily become a millionaire, right? You start a company to become a millionaire to have a millionaire company. So those of you who actually have arrived and you maybe you have a paycheck, that's make a million dollars, I would say it's the worst kind of money is the highest taxed money. So here's the problem. And you see on the screen, there's employee life and corporate life, let's start with employee life. And why is this so challenging? So if you notice, $80,000 makes you within like the top 25% of income earners in the country. And this is what we're taught, this is worldwide, I've teach, you know, I've teach this all over the world, except for Antarctica is the only continent have ventured to teach this. So in principle, this is how everyone's taught, is you're going to go to school, you're gonna get a good job years back, that whole narrative is still driving most people's path of financial literacy, and business literacy, and it's wrong. So COVID, like disrupted a lot of it. But everyone who wanted to go back to be a, you know, an employee, why being an entrepreneur gives you ultimate freedom. We'll get to that in a minute. But let's talk about why the problem is so pervasive in the world of money in business. $80,000 seems attractive, but you're in the top 25%. Like how many of you, you can put in the chat, right? How many of you make 80 and feel like you're in the top 25. Here's why you don't look at the next slide, because you're getting taxed. 40 50%, and in other countries is 50 to 60. And some countries is 60 to 70%. It's a huge problem. So it's the worst kind of money because you make it you get taxed, you live on what's left. Kiyosaki said it best in the Rich Dad Poor Dad book, you decide your tax structure, you can just live in that one. But why from 18 years old and older? Don't you start your own company. And I'll talk about that next living what I call corporate life. So here's the problem, if that's the only kind of money you make, you really aren't living on, say, 80,000, you're maybe living on 60, maybe probably more like in the 40s. Because you're paying a ton in taxes, and you have no recoverability of it, you have maybe three to five deductions off your home, maybe you're filing jointly, maybe have some kids, but you don't get a lot of deductions, you have no legal right to write this off. Unless you're an entrepreneur, you have no legal right to have wardrobe, wrap your car, wrap your computer, because it's just you, it's just an employee doesn't work, the tax code doesn't even get activated. But you're not taught that you're taught go get a good job. And I'm not opposed to you having a great job. In fact, my best and my best clients are high income earners. Why? Because I'm teaching you this strategy to reduce how much you have to pay in taxes. And there's a trifecta to that I'll get to. So if you're just employed, and you just pay taxes, and you hope you have health care, the better the place you're at now, since COVID, a lot of those places have dropped extra benefits. So then you still got to figure out how to get health care, which makes it pretty rough, when you're making $80,000 income, because you're going to actually get stacked into the larger brackets of higher health care costs as well. So the whole thing just doesn't have a lot of benefits, then you have a 401k. Now for some of you, that's a great vehicle, some of you, really, so it's not great. And we have teams who can evaluate this. So the way we work is I've surrounded myself with a whole team of experts on your behalf. So we're very integrated team, I help navigate and facilitate who you talk to, and when. And for a lot of you you do need your 401k reviewed, you know, I worked at Chevron for five years got vested and I took my 401k out the door with me it was well well into six figures by then because it was such a great stacked plan. Some of you. I mean, you had to think about the vehicle, you're getting paid a paycheck, take a lot of tax out and then you're handing money back to the same company.

Loral Langemeier:

To who who's investing it for you. You don't even know the person that's investing in you have a few choices of the firm they pick for you to invest. So pretty much your investment choices are driven by the same person who's given your paycheck. I think that thing's odd. It's no diversity and who's really investing are they a millionaire? Do they have the right financial mindset or goals? And a lot of those people who make your stock and bond decisions, they go to school, less time that it takes to cut hair. Yes, I want to repeat that to cut hair and actually work in a hair salon and have that license.

Loral Langemeier:

As takes you more schooling than to manage your money, think about that and how disgusting that is. So here you're making money you get taxed, you give your money back to the same company, and it's all entrenched called that Enron for those of you that don't remember that, go look it up, I'm sure there's a Netflix Original about the disaster of that, then they offer you death insurance, which is term. Yes, it's super cheap. And here's the problem. It's just an expense you don't need because you will probably outlive it, most of those term policies are 20, maybe you can get a 30 year policy. Now, if it's a flexible term, where you can actually turn into another kind of policy, that's okay to get started. But it's not forever, and it's not the plans we endorse at all, then you're going on vacation in America, because you'd like did really, really good off for 50 weeks, you get two weeks off, other countries give months off. But mostly in America, you work and you are thinking because your psychology because it's what we're trained, I was trained in America, the harder you work, the more you're gonna make, and the more time you're gonna get off. That's not the truth. If you want ultimate freedom, you become an entrepreneur, keep your job, that's fine. I can pay bills. But being an entrepreneur is where the freedom is. And I'm explain that, then you're taught that credit cards and debt are bad. There's nothing further from the truth. If you haven't, like subscribed yet to my YouTube channel, go over there, I teach you how to use it better, like credit cards as investment cards, I have so much about debt structure, read page 194. If you have any bad debt, meaning you just went overspending one day, not for assets, not for leverage, not for arbitrage, you just bought a bunch of stuff you don't need, or go return it and give it back or go resell it, or have a garage sale, little online sale. But credit cards in debt are critical, especially in this day. And they're like you have to have them and you have to learn to use them properly. Retire, it's not even an egg. It's not even a financial word. It's an agricultural word that means to put cattle to pasture to die. So retirement is no goal. But it's everybody's goal. And Fidelity has the lads follow the little green line to the end of your retirement like if you notice that retirement is designed in a bell curve. And there's this assumption in the financial space. This is why I counter it is that you only have few good earning years. And then the rest of it is this huge decline. Well, I don't know about you, but I didn't work this hard, do what I wanted to do and create the life I had to have less as I get older, like I want it to continue to generate and create generational wealth. So it actually continues to like just the compounding power of that money in decades is going to be worth so much money. But you got to set that up for generational wealth, a lot of us just kind of getting through life. And then worse, you file taxes in April. So that's what I call the employee sheep ology, which most people just live in that world. So what makes this so different? What makes this so difficult to do, it's different. You start like this is called corporate life, and I came up with her living corporate life. So we'll be doing more and more just teaching you living corporate life and for my kids book and make your kids millionaires at 18 years old, you should get your kids in LLC. That's the greatest graduation gift of their life and their birthday present. Why? Because they're now an adult, they can have their own company. So this is this is all taught in American terms. But there's something similar. And you know, there's this, there's this synonym to this inside of your company and your inside of your country. So find the country, and we have teams and a lot of countries, we can help you make sure that they're a good team that's going to set you up, right. So in America at 18, you can have an LLC, which is kind of the easy one to get started. Unless you're in California, New York, New Jersey, Pennsylvania, not great states for that depends on how it's taxed.

Loral Langemeier:

A C Corp and S corp or a limited partnership and trusts. So here's the easiest way I teach it. companies make money. Right? Whether it's a C Corp, S corp, an LLC, a limited partnership companies make money, individuals get taxed employees. So does that mean you shouldn't be employed? No, you can be one but how do you counteract the tax that your if you only live on that left side of the world. So if you look at the screen, on the left side, you're only living that life. And you have real estate and you do some side hustles like I do a lot of work with coaches and D one coaches around the country, or even D tour and a coaches and they have an AI l athletes working with them. And they might have real estate, they might do sports camps, they might do all sorts of different conditioning camps, that should be an accompany. And all of that then allows it a deduction to the family. So now you have a company that activates immediately 81,000 pages of tax code. Now, should you be an employee of one of your companies? Yes, especially if you have children, because that's how you get to use them as deductions but you have to be employed by one of your companies, then you can employ your children. What do you do with employment of their money? You start a Roth IRA like I got a whole structure for it. It's gonna make your kids And we just won like the business category where personal finance book that book rocks,

Loral Langemeier:

you activate the tax code in America, it's 81,000 pages of code now that goes up and down to 83

Loral Langemeier:

depends who's in administration. In other countries, just you know why America still the most pristine place to do all this? Is most countries have 3400 pages, 3400 3200 pages, 2800 pages, it just gets worse. So a lot of our higher net worth individuals around the world actually do set up Nevada corporations, Wyoming corporations, Texas depends on what you know, our team, our expert team tells them that they should be doing this isn't something you go to and go figure out like what you should do you don't know, this is an interview, it's an assessment through a strategy to actually decide what do you want for you and your family? Do you have children? Do you have grandkids? Do you have elderly parents that are going to get older, are you going to inherit a bunch of money, are you going to give money to uneducated kids really, you're gonna do all this for that like that doesn't make a darn bit of sense. So once you activate that, and you're employed by one of your companies, and you don't have to be employed a lot, in fact, I want it to be really small. That's where your health plan comes in, and you get great health care coverage, then you activate a solo 401 k or a Roth solo, there's a variety of those two, they're called qualified plans. They're not retirement accounts in our world, they're qualified, which means they either pre or post tax bases, and their deductible, a variety of different vehicles, you can put away in Roth 6500, a year, up to 50. And then 7500, they call it catch up per year for if you're 50, or older. So that's just a great vehicle. For arbitraging debt for assets, you know, that you're gonna buy at a certain price, and it's gonna grow. So those are tax free tax deferred accounts. But the Roth or the qualified to the solo 401k, those of you who want those, your company will own one as a benefit, and it could write off 66,000, some of them or go up to as high as 300,000. Again, experts in that category. So if you have a 401k, like I had at Chevron, I self directed it. So I went out and bought a bunch of land and real estate with it. That's what I use mine for, and I've continued to use it that way, then you buy real life insurance, the kind that this cash value that you can lend against it's infinite infinite banking, so you can become a bank within your policy. It's highly asset protection, high high high asset production, and you can pull cash value it while you're alive to live on it, you can take loans from it. More importantly, it doesn't affect the death benefit. There's only a few companies again, that do that, then you don't go on vacation ever again. That's like our living family joke is that my kids have never been on vacation, and they won't. Because we go on business trips. Whatever we do, we go on business trips, and I collapse all of my mentoring coaching, which I can do anywhere in the world, in any country in any state. I also am part of a home health care business, I do a skin line, I do. Oh my gosh, I do so many different things. I'm in a gift company so I can send gifts, I'm in real estate, I can go look at real estate, like water rights, mineral rights. So I have just this cool, eclectic asset pool that I can actually associate to business trips you can do. And even if you haven't had a lot of money, and you're still going out looking for real estate, your first three years, those are r&d credits. saved a lot of you if you don't have a company, you can't activate any of this. And the best one for all of you, especially women out there is officer and director benefits, which allows wardrobe health care plans, which are beyond like your health insurance. It allows your facials it allows your massage allows hair allows a lot of treatments to be written off as a deduction, not an expense. And a lot of you gotta realize you're living in expense land, not in deduction land. So yes, it's an expense, but it's not tax deductions. So the next thing is credit cards, credit cards and debt. They're critical. They are critical on how to learn to use them and how to arbitrage debts, we teach that implicitly. So for example, if you can get data at 0%, we can get a lot of you know, we have lots of different funding sources. We have huge expert teams that do this. And they have one of them has up to 500 lending sources. So if they could get you say $100,000 at 0% interest for 21 months, wouldn't you go use that and make a whole bunch of money. Let's just say you had 100,000 You could put it to work at 12%. So you make 12,000 That's 1000 a month. Well so you add a zero if you have a million you put it to work at 12% You're making 10,000 a month. And guess what? You're in debt, a million dollars, you're in debt 100,000 But it's an arbitrage meaning you know how to invest so here's the trifecta I was talking about how you make money as an entrepreneur allows you the greatest tax code in the world, anywhere in the world. So now you make it as an entrepreneur, you now have deductions and then how you invest allows depreciation schedules against that income. So how does an employee who makes a lot of income when they win against this trifecta of the strategy of putting it all together in one plan? So the financial services world is intentionally segregated? They don't want all the

Loral Langemeier:

has people talking to each other? Like, when is the last time you've ever talked to a corporate strategists? Probably not. And if you just bought a little LLC, you know, straight off the Secretary of State or the registry or wherever you got it free and cheap, or like small fee, you don't have the right documents to get bank accounts, much less have operating agreements and paperwork is required around it. So you need to have all of it set. And then how does it associate to a trust? Where does your life insurance fit in? See all of these experts are segregated intentionally? So you stand in the middle going? How do I put this together? And where's my playbook? Well, this is the start of six books. That's the playbook that help you get this in line. And you know, in the beginning, when I started doing this, I started sending you out to go find your own experts. Same problem, you know, many experts don't want to talk to each other, because all they want is their fee and commission fee and commission, you know, Bill you hourly, and who's helping you who's helping you glue it together, who's helping you do the right resolution that this phone is legally written off, that your cars are written off that your kids are employed properly. So we're the glue, we're the ones that going to put this together behaviorally and show you how do you put it together? How do you put this plan together, and you're going to have the licensed experts around you, but they work as a team? What a novel concept. So debt and credit cards are critical. And our goal is never to retire you uh, Saba, Freedom Day. So Freedom Day is how much money do you want to need, when you want to call it just say, I'm done, I have enough. Now cash and cash flow are different. And I think a lot of you don't realize like, I'm going to sell a company, I'm a million dollars, you don't make people that come to me and say I want to sell company on, you know, for a million bucks, I just had somebody come 1.8 million. And by the time we actually ran through the expert team through the tax structures and check strategy of it, so it wasn't set well, to actually do it, are you going to get taxed to pieces and then where are you going to find the cash flow, that can turn off the amount of cash you get per month that you actually don't have to do a lot of work for. So I'd say eight times out of 10. If somebody wants a big exit, we'll either help them restructure it for less taxes and do it right, which might take a little year or two to reset. Or we help them stage a very different kind of a buy out so they're not killed in taxes. Because just because you sell like, I'll give you an example, I have a client that did this years ago. And they thought for sure they could replace their storage unit income. And they were making an average consistently of 12,000 a month and they had a huge buy come in. It's an Oregon property. Somebody wanted to buy it for millions of dollars, and they come out of this millions, that's cash. But what they were used to living on passively is 12,000 a month in cash flow. Do you know how difficult it is to have a lump of cash being taxed to pieces and now find cashflow. It's more challenging and more strategy than you think. And it's not just for the average common human. So that's why we have a whole team that we put around you as an individual to help support you. But Freedom Day is not difficult. It's different. And a lot of you you're gonna have lots of exits, right? You're gonna be a millionaire, one category, and then you're gonna get creative and curious if you want to maybe go be a millionaire, another category. So where do you want to land in your journey to learn business and learn money, I'm not gonna do it for you, I don't have a magic wand. I don't have any pixie dust that's gonna like make you great, you're gonna consume the content. And you're gonna start behaviorally changing your life, to live corporate life. And then bring your kids into it. Like you don't have a personal life and professional if you have a life. It's called an integrated life. So bring them together and have inclusion, start talking about us why we do our YouTube channel, our YouTube channel, is phenomenal. And as for any of your kids that are five and up, and we now have your YouTube learning journal, so every kid in your family should get one of these for the holiday. So what did you learn from the day? Right? So it's what did you learn? What are you going to do? What did you learn? What are you going to do? And so you're going to consistently be working on a learning journal for you and your families start bringing this conversation in to the household. This is not a school conversation. That's not where you're going to learn this. This is up to you, your legacy, your generational wealth, what do you want for you and your families, and that's why we're here to serve you. And then multiple urine strategies meeting, depending on when your company is closed business, which all but the C Corp will close 1231 in the United States, it's a different around the world. Some countries closed in March, some countries closed in June. So it depends on the year end in the country that you live in, and then you're filing taxes, but in America, those companies that you own, they're gonna file taxes in September. And then you personally will fall in October. So April is no longer a deadline that you're going to worry about. And let's just talk about that tax refund. You get excited about why did you overpay the government in the first place, they're giving you a refund, and they've made money on your money while you didn't get it? I think that's horrific planning. And it's a hope and a dream and a guess. So as you see living employee life isn't enough if you want to create the wealth that we talked about here it integrate while systems you've got to live corporate life. So from 18 and up this is not about how much money you make. It's your intention. So if you just want to be 100,000 air, perfect, then we'll help you get to 100,000 So now, I would encourage you to at least become an accredited investor, which is someone who's making 250, as an individual or 350, as a couple doesn't include your home. And are you a millionaire? Because then you can invest in all the alternatives. So again, this financial services world is designed to keep you segregated and keep you confused. So you wonder why 80,000 is still at the top 25% of income earners. I mean, come on, that's like not even close. So here's just startling statistics you make 100, you're in the top 3%. If you make a quarter million, you're a one percenter. Because you don't make billionaires around the world. What percentage are they in? Are they like the point 000001? See, all of you can do it. It's not difficult. It's just different. So what I want to do right now is I'm going to put a team around you and have a conversation to deepen the the absolute use of corporate life and trust life, deepen the use of insurance for generational wealth purposes, which is absolutely critical. And talk about the strategy sessions because those strategy sessions with our team, our job isn't their job in the Strategy Session isn't to fix you is to problem solve is to identify the problems, and how can we help you have a solution for the problems you have, and movies the next step? So it's really an assessment, we call it a gap, where are the gaps in your life, you all have them, we all have them, right? Even at every level you play, you're going to have gaps along the way that you just got to keep filling the gaps and keep looking towards your Freedom Day. So let's introduce my team, and have a conversation deeper about corporate life, corporate structure, insurance, and how to put it all together and have some exits. So becoming a millionaire is not difficult. It's different if you want a three to five year plan. So let's go back to my team.

Loral Langemeier:

Thanks for listening to The Real Money Talks podcast. Your host has been Loral Langemeier, author of five New York Times best sellers and money expert on Dr. Phil, CNN, CNBC, the street TV, Fox News and the view. Want to learn more about off Wall Street investing tax strategies and multimillion dollar business strategies. Visit live out for past episodes, show notes and resources. For some special wealth building gifts only for laurels podcast listeners, visit live out gifts. Do you have a burning question for Laurel? Visit ask to submit your question and it may just be covered on a podcast episode. So stay tuned and be sure to subscribe to get new episodes every week.



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