President and Founder of the Jim Hood Company in Dallas, Texas. Jim began his professional career as an engineer with Southwestern Bell Telephone Company in St. Louis, Missouri. For 15 years he led a team engineering communication facilities from laser broadband to electronic switching systems in a five state area. He planned millions of dollars in construction out to 40 years in the future which involved sophisticated planning techniques. Learning these techniques created an interest in using sophisticated planning tools to “engineer” financial plans for individuals and small businesses. He eventually transitioned to the financial services business as a full time independent planner.
Jim experienced the market turmoil of 1987, 2000 and 2008 which underscored for him the importance of safeguarding client assets.
Over the years, Jim has developed several core beliefs about growing wealth, risk and retirement. • You should never lose money. You have a limited amount of cash that will flow through your hands during your lifetime and you cannot afford to lose any of it.
Cash is king. Almost every opportunity is capitalized upon by someone that can put their hands on cash and put a good idea in motion.
Never interrupt compounding. It takes a skilled individual to position their cash in such a way that it is continually in a growth mode.
Taxes matter. It is impossible to avoid taxes, but we can minimize them. Every dollar you pay in taxes is not only gone, but your ability to earn interest on that dollar is also gone.
Liquidity, use and control of your resources is a must. True planning begins when you control your finances.