20 years ago Douglas Eze founded Largo Financial Services with a vision: to equip individuals and families with the education and resources to build generational wealth. Douglas soon realized how many people held great aspirations to build wealth and leave a legacy for their families, but simply no idea how to do so. This lack of knowledge was the biggest contributor to generational debt and individuals’ inability to achieve financial freedom. Douglas’s primary mission is to identify the areas his clients may be unknowingly throwing away money and empower them with the tools to begin saving for their future.
According to Douglas, “Some financial advisors tend to overcomplicate this process and leave clients feeling overwhelmed and discouraged.”
Douglas takes a common-sense approach and starts at the beginning. When meeting with a new client he will take his time getting to know them, understanding their goals, and analyzing their financial situation, to identify where their money is going. From here, Douglas will create a plan for them to become debt-free while simultaneously preparing for their future and Building wealth.
“This is the part that people often overlook,” Douglas explains, “You don’t have to be completely debt-free to start building wealth.”
Rather, his goal with each client is two-fold: help them get out of debt, while also implementing strategies to accumulate wealth. These goals can, and should, co-exist.
Douglas advises clients on everything from minimizing their taxes, protecting their assets, mortgage payments, college funds, life insurance, and retirement planning. In addition to this his firm set up a private fund for his accredited investors that are interested in alternative investments. Douglas and his team at Largo Financial Services take a global approach to achieve financial freedom for their clients. Douglas recognizes that the majority of Americans do not have the tools, resources, and knowledge to build wealth. However, there is a key set of time-proven methods that the wealthiest families and corporations have implemented for years. These same strategies are the foundation of Douglas’s latest book, Creating Generational Wealth®,What the superWealthy know that you need to know is available on Amazon, Itunes, and Audible.
With a robust experience of over 20 years in the industry, Douglas has been privy to some of the most common myths that individuals believe about finances. According to Douglas, the following myths only serve to hold people back from reaching their financial goals.
Myth #1: Always pay in cash vs taking a loan. Douglas warns about the downside of using cash to pay for large expenses. This may not be the best way to plan for your future. When a client pays with cash they are giving up the potential interest they could earn on that money. Douglas refers to this as “stealing from your future self.” Instead, Douglas recommends that clients use cash as collateral to borrow money from a financial institute at a lower rate, and put their cash in a guaranteed compounding interest account.
Myth #2: Life Insurance is for the dead. A life insurance fund is one of the best financial tools to “pack money”, according to Douglas. He utilizes the example of parking a car within a secure garage, instead of leaving it parked on the street where it is subject to theft, vandalism, and damage. Funds in a cash value insurance policy are virtually untouchable, protected from creditors, the IRS, and even in some states a divorce settlement.
Myth #3: 401K is the only place to save for retirement. This is perhaps amongst the most pervasive myths that Douglas is witness to. For years, the government and media have encouraged individuals to invest their money into a 401K. In reality, this is just a method to contribute to government funding. Instead, a better option would be to put money in a more secure fund that isn’t subject to the ups and downs of the market and would be taxed far less.
Largo Financial Services is Licensed in 50 states including District of Columbia. To inquire about insurance, annuities, college plans, and tax-free retirement, schedule a free consultation with Douglas Eze and his team.
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