Joseph Francis Lombardi is the CEO and Founder of IronHawk Financial, helping individuals and businesses simplify wealth and insurance planning through personalized strategies designed to protect their financial future.

Subscribe to EOFire

Apple | Spotify | iHeart

Guest Resources

Learn with Hawk – We create educational content to help families build stronger financial futures.

Money Talk with Ironhawk Podcast – Subscribe to Joseph’s Podcast.

Joseph’s Books on Amazon – Grab a copy Joseph’s books on Amazon.

3 Value Bombs

1. What you own matters, but how you structure it can impact taxes, protection, and access.

2. Build wealth strategically by considering taxes, risk, estate planning, and protection.

3. Learn how wealthy individuals structure their assets and apply relevant strategies to your situation.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to Do What the Ultra-Wealthy Do to Build Wealth and Protect Your Family

[01:32] – What do you believe about becoming successful that some people might disagree with, and what makes your approach different?

Joseph shares how growing up in poverty shaped his perspective on success and gratitude.
He describes surviving a childhood experience that made him feel like he was living on borrowed time.
He says viewing each day as a blessing changed work from an obligation into a privilege to serve others.
Joseph emphasizes believing you are worthy and addressing the emotional wounds carried from childhood experiences.
He encourages asking what you can do more of to serve others rather than simply asking how you can do less and get more.

[03:46] – Why do entrepreneurs focus so heavily on earning more without paying enough attention to how taxes can erode what they build?

Joseph argues that entrepreneurs need to pay closer attention to the long-term impact of taxes on wealth.
He discusses his belief that the tax system and financial system can significantly reduce the amount of money investors ultimately retain.
He argues that tax deductions can create the perception of savings without necessarily solving the underlying long-term tax obligation.
Joseph stresses the importance of understanding where your money goes and how financial structures affect your long-term results.

[07:14] – What strategies do the ultra-wealthy use to preserve, deploy, and grow their wealth?

Joseph says wealthy individuals approach money differently from the average investor.
He identifies real estate, annuities, and permanent life insurance strategies associated with IRS Code 7702 as areas he sees in wealthy portfolios.
He explains why understanding the tax code behind a financial product matters.
Joseph argues that entrepreneurs should look beyond traditional retirement accounts and understand the rules governing how their money is invested.
His broader point is to study established wealth-building strategies rather than trying to invent everything from scratch.

[12:13] – A timeout to thank our sponsors.

Incogni: Your personal privacy advocate, handling removal requests across 420+ data broker sites. They can’t harm you if they can’t find you! Take back control of your personal data today. It’s completely risk-free with a 30-day money-back guarantee. Go to Incogni.com/fire and use code FIRE for 60% off an annual plan.
The Foundation: The Foundation has coached 2,000+ students to find painful problems and turn them into software businesses. Their 12-week cohort takes you from no idea or software experience to finding a real problem and preselling the solution. The next cohort launches January 2027. Join the waitlist at TheFoundation.com!
HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!

[15:29] – What does “becoming your own bank” look like in practice?

Joseph contrasts tax-deferred strategies with strategies designed to provide tax-free growth.
He uses a hypothetical $50,000 investment to illustrate how taxes later in life can materially affect the amount of wealth ultimately available.
Joseph argues that entrepreneurs should think about the future tax environment rather than focusing only on an immediate deduction.
He also discusses estate taxes and the potential impact of taxation on wealth intended for the next generation.
His central message is to consider the long-term destination of your money instead of simply optimizing for today’s tax bill.

[19:13] – What is one strategy entrepreneurs can think about to protect the wealth they’ve worked hard to create?

Joseph discusses fixed-index and income annuity strategies as one approach he uses with clients.
He says clients can use income annuities to create guaranteed income while also incorporating beneficiary and long-term-care features.
Joseph explains how he may combine an income annuity with an index universal life strategy when the goal is legacy planning.
He shares an example involving a Connecticut couple who wanted to pass wealth to their two sons.
The example illustrates Joseph’s broader argument that financial planning should consider the structure or “container” holding the assets, not simply the investment itself.
He emphasizes the importance of considering taxes, estate planning, market downside, and how assets can ultimately transfer to beneficiaries.

[22:57] – Call to action.

Learn with Hawk – We create educational content to help families build stronger financial futures.
Money Talk with Ironhawk Podcast – Subscribe to Joseph’s Podcast.
Joseph’s Books on Amazon – Grab a copy Joseph’s books on Amazon.

[23:20] – Thank you to our Sponsors!

The Foundation: The Foundation has coached 2,000+ students to find painful problems and turn them into software businesses. Their 12-week cohort takes you from no idea or software experience to finding a real problem and preselling the solution. The next cohort launches January 2027. Join the waitlist at TheFoundation.com!
HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!