Exit Rich Beyond Money with Peter Culver

Exit Rich Beyond Money with Peter Culver

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Alright, welcome back to the Daily Mastermind, George Wright III with your daily dose of inspiration, motivation, and education. And I'm excited to have a guest in the house today, Peter Culver. How are you doing today?

Excellent. I'm excited. We got to talk a little bit before. Yeah. But today we're gonna be talking about wealth and you, as you guys know, when you join me daily, we like to really focus on everything you can do to really create your best life.

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Peter Culver’s Background and Experience

And Peter, I'll just give him a quick introduction. Peter was a former senior wealth director who managed portfolios exceeding $2 billion. He was the number one client advisor for eight years, a Yale graduate, and host of the Thrive Talk podcast. He’s also the author of Exit Rich Beyond Money, which got my attention. Beyond that, he’s a speaker, high-profile advisor, and trusted expert with decades of experience. Peter, it’s just great to have you on the show today.

It's a good way to begin to close out the week talking about my favorite subject.

I love it. I know, and you know what—it’s most people’s favorite subject when you start talking about wealth. So tell us a little bit about your perspective on wealth and wealth management, because it encompasses so much of what you do right now.

I would say I’ve been fortunate all my career to work with entrepreneurs. I’ve worked for business owners—by definition, wealth creators—and I’ve also been an entrepreneur myself. I’ve watched them be successful, I’ve watched myself and others be unsuccessful. And I’ve worked with many wealthy families where a major issue is the transfer of wealth from generation to generation, which is a real challenge.

So I’ve been knee-deep in entrepreneurial wealth-creating activity—some of it successful, some of it not—and I just try to accumulate lessons from that. I love the whole subject.

Yeah, and you’ve had so much experience from different angles of wealth and wealth management. Wealth creation. Sure.

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Holistic Approach to Wealth and Wellness

What has really shaped your holistic approach to wealth, wellness, and legacy overall? Tell me a little bit about that.

If I had to boil it down, I’d say there are two main themes. Whenever I give a presentation, I’ll say at least once that there are two great ways to create wealth in America.

One is to start a company, grow it to significance or prominence, and either turn it into a cash cow or sell it to someone—take your chips off the table.

The other is about not paying taxes. What many underestimate is the value of tax efficiency in accumulating wealth. If I’m doing a live presentation, I put up a slide about compounding growth. Everyone knows the example: put a dollar in the bank, it earns 4%, next year it’s $1.04, then it compounds again, and so on.

But if you do the same math around not paying taxes, it’s even more powerful. If income taxes in California are 50%, and I consistently pay 25–50% less, the compounding effect over time is phenomenal.

That’s such a common theme. What’s crazy to me—and I’ve been doing events and education for decades—is that one of the simplest ways to build wealth is just to pay fewer taxes. And yet, most people don’t prioritize it. Why do you think that is?

There are two main reasons. First, we make a distinction in our business: we’re tax strategists. We swim in the gray areas, but no one’s going to jail for what we do. CPAs, on the other hand, are tax preparers. They take the numbers a client gives them, file them correctly, and on time. That’s important—but it’s not strategy.

We work before the CPA ever sees the numbers. Our job is to make sure those numbers are smaller before they even get filed. Most people think “tax” means “CPA,” but CPAs don’t usually think in terms of tax strategy.

We even distribute a one-pager called “23 Game-Changing Tax Strategies Your CPA Never Told You About.”

Yes, I’ve mentioned this many times. There’s a difference between tax planning and tax preparation—strategy versus execution. And most CPAs don’t have that specialized knowledge. That’s where you’ve spent most of your career, right? Being strategic.

That’s right. That’s the world we live in.

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Tax Strategies for Wealth Creation

And one of our main areas of expertise in helping clients is showing them creative ways to reduce their taxes and use that as a powerful driver to grow their wealth. That’s the X’s and O’s—it’s dollars and cents. And that’s what gets people excited.

Such a common theme, right? What’s crazy to me—and I’ve been doing events and education for decades—is that one of the simplest, easiest ways to create wealth is simply to pay less in taxes. And yet, most people don’t prioritize it. Maybe it’s because the topic feels so complicated. Why do you think that is?

I think there are two big reasons. First, as I mentioned, we call ourselves tax strategists. We live in the strategy space. CPAs, on the other hand, are tax preparers. They take the numbers the client gives them, put them in the right boxes, file them correctly, and make sure everything’s on time. That’s important, but it’s not planning.

What we do is make sure—before the CPA even sees the numbers—that those numbers are a lot smaller. That’s a completely different game. And I think that’s why most people miss it. When they hear “tax,” they think CPA. But CPAs don’t think about tax strategy.

We even share a little one-pager called 23 Game-Changing Tax Strategies Your CPA Never Told You About.

Yes! And I’ve said this many times before. There’s a difference between tax planning and tax preparation. One is strategy, the other is execution. And most CPAs don’t have that specialized knowledge. That’s why being strategic is critical. And that’s where you’ve spent the majority of your career, right?

Exactly. That’s the world we work in.

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Importance of Life Planning Beyond Wealth

That’s the world that we work in. And I would say this: paying less in taxes and accumulating more wealth is great. But the real question is, what are we doing that for?

Most people don’t jump out of bed every morning thinking their life mission is to have more money. What they want is freedom, clarity, and quality of life.

So part of our overall process with clients is this: we ask them to paint a picture of their ideal life five or ten years from now. And you know what? Almost no one answers that question by saying, “I want a hundred million dollars in the bank.” Instead, they describe where they’re living, who they’re with, what they’re doing, and how they’re spending their time.

Wealth creation is wonderful, but entrepreneurs don’t just chase money. They chase the freedom that money can provide—the ability to live a more fulfilling life both economically and personally.

It’s crazy to me that whether it’s wealth planning or life in general, people don’t realize the power of having clarity for their future. When you’re clear about your vision, it fuels your motivation to create a strategic plan. And you’re right—it’s not just about the money. It’s about family, legacy, freedom, and clarity. Is that what motivates your clients to create more proactive wealth plans instead of just reacting to taxes and investments?

I think so. A lot of entrepreneurs are naturally numbers-driven—they like solving little math problems. But what sets the best ones apart is that they’re strategic. Sure, some get lucky, but most success comes from consistent effort, planning, and structure.

The interesting gap we’ve noticed is that entrepreneurs usually have a great plan for their business, but they don’t always have one for their personal finances or their personal life. That’s where we come in.

We sometimes describe ourselves as the “EO coach” for your financial and personal life. If you’re running your company on systems like EO or Traction, you already understand structure and planning. We apply that same structure to your wealth and life outside the business.

And that’s so true. Most people outsource their financial planning, even though it’s one of the most core parts of their life. But it’s easy to push off because they’re so busy running the business. That’s why I love your approach—it’s not just about numbers, but about life design. Which brings me to your book: Exit Rich Beyond Money. Tell me why you decided to write it.

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Preparing for Business Exit and Life After

Given the fact that we’re broadly in the planning and money space, and most of our clients are entrepreneurs, we’ve been active for years in helping them prepare for, execute, and transition through business exits.

One of the big observations we’ve made is that many entrepreneurs don’t prepare far enough in advance for the exit itself. That’s a separate problem. But what’s even more overlooked is preparing for life after the sale.

Most owners say, “I’ll sell my business, get the money, and figure the rest out later.” But that almost always leads to disappointment. Not beginning with the end in mind can result in bad outcomes. The statistics are sobering: 50% of business owners who sell their company regret it within a month. They wish they’d never sold—because they didn’t think through what their life would look like afterwards.

Sometimes they start with a number in their head. They’ll say, “My business is worth $20 million.” Maybe they Googled industry multiples and came up with that. But they don’t account for taxes, fees, or negotiations with private equity firms. When the closing comes, maybe they walk away with $10 million instead of $20 million. Suddenly, they’re not sure it’s enough.

And even when the money is there, there’s still the lifestyle issue. About three years ago, we worked with a client in Arizona who sold his very successful company. After the sale, he did all the things on his bucket list—hunting trips, a bigger house, toys. But a few months later, he told us he didn’t realize how much of his identity and self-worth had been wrapped up in the business.

He said, “When I walked into my company, everyone knew I was the boss. I didn’t need a title on my shirt. But now, when I walk into Walmart, nobody knows who I am—and nobody cares.” That loss of identity hit him hard.

So part of our job is to help entrepreneurs prepare for that reality before they exit. We make sure they design their new life in advance, so they build a future that sustains their ego, self-worth, and fulfillment.

That’s powerful. And it’s exactly why your book matters. Entrepreneurs think about their business exit as just a financial transaction. But you’re saying it’s also an emotional and lifestyle transition. And if you don’t prepare for that before the exit, you risk regret. So what does your process look like when you’re helping clients create that life plan?

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Designing Your Ideal Life Before the Exit

I think it starts with some very simple but powerful exercises. We have something we call the “Ideal Life” exercise. We ask entrepreneurs to imagine it’s five or ten years from now. Wave a magic wand—what does your life look like?

Some of their answers touch on money, but most don’t. Instead, they describe where they want to live, how they want to spend their days, who they want to be with, and what activities fill their time.

We also use a tool called the Wheel of Life. It’s a simple circle divided into slices like a pizza—categories such as geography, relationships, health, finances, and career. We ask clients to rate themselves in each area on a scale from 1 to 10.

Almost no one rates a 10 in every area. That’s where the real conversation begins. If you gave your health a 5, what would it take to move it to an 8? If your relationships scored low, what would need to change?

It’s not about perfection—it’s about identifying gaps and opportunities. Everyone’s different, so the dialogue is always unique. But what’s consistent is that entrepreneurs rarely take the time to think about these things until someone pushes them to.

That makes so much sense. And you’re right—most entrepreneurs don’t stop to think about what life looks like beyond the business. They’re so consumed with growth and execution. But just like athletes need coaches to help them see the blind spots, entrepreneurs need someone objective to guide their personal planning. Otherwise, they risk building wealth but not building a life.

Exactly. And that’s why we integrate both. If you don’t start creating the life you want now, you won’t magically create it after an exit. The habits, mindset, and clarity have to be built in advance.

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Wealth, Identity, and Purpose

One of the biggest lessons we try to share is that wealth is not just financial—it’s deeply tied to identity and purpose. When entrepreneurs sell their businesses without preparing for that emotional shift, they often face a loss of self-worth.

That’s why planning has to include personal development, fitness, relationships, family, and vision. We’re not just looking at balance sheets. We’re helping clients rediscover who they want to be once they’re no longer defined by their title or their company.

I love that. Because if you don’t make a life before the exit, you’re not going to magically have one after. Most entrepreneurs are so busy making money that they forget to make a life. And when the business is gone, they suddenly realize they never built the foundation. That’s why your approach is so important—it’s proactive.

Absolutely. And what’s encouraging is that once entrepreneurs become aware of these issues, they immediately see the value. They already understand strategy from building their companies. They just need someone to show them how to apply that same mindset to their personal life and finances.

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Advice for Entrepreneurs on Building Long-Term Wealth

Let me ask you this: what advice would you give to entrepreneurs who are ready to make that shift—from just running a business to building long-term wealth and a better life?

The first piece of advice I’d give is to think about your business from the buyer’s perspective. Buyers want businesses that can run without the founder. If your business can only function with you in the driver’s seat, it’s less valuable.

So the goal is to transition from being the owner and operator to being just the owner. That not only makes your business more attractive to buyers, it also frees up your time. Suddenly you’re working twenty hours a week instead of a hundred. That extra time can be spent on health, relationships, or passions outside of business.

The second piece of advice is to begin with the end in mind. Don’t just plan for the financial exit—plan for the life you want to live afterwards. Build that vision now, and start aligning your decisions with it today.

That’s so true. Stephen Covey’s principle of beginning with the end in mind isn’t just a business strategy—it’s a life strategy. If you want freedom, fulfillment, and legacy, you have to start now. And as you said, that also makes your company stronger and more valuable in the long run.

Exactly. It’s about creating a win-win. You sell your business for more money, but you also free yourself to live a better life now. Entrepreneurs are drawn to business for freedom, and this is how you reclaim that freedom.

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Conclusion and Contact Information

This has been incredible, Peter. Thank you for sharing your wisdom. Where’s the best place for people to connect with you?

Yeah, the easiest place is through our website: wealthrive.com. There are resources, articles, and ways to connect. I also have a couple of links I’ll share where your listeners can book a complimentary 20-minute call with us. We can talk through tax strategies and see if we might be able to help.

Perfect. I’ll make sure to drop those links in the show notes so people can get access to those resources. I really encourage everyone listening to take advantage of it—you’ll be surprised at how much money you can save and how much clarity you can gain just by having that conversation.

We were talking with an entrepreneur in California recently. She was paying nearly 50% in income taxes. We showed her ways to legally and strategically cut that to 10%. The compounding effect of that is life-changing.

That’s huge. And it’s why I wanted you on the show. This isn’t just about wealth—it’s about freedom, clarity, and living your best life. So thank you again, Peter. I really appreciate you being here.

It was a pleasure. Thanks for having me.

And thank you all for joining us. Remember, it’s never too late to start creating the life you’re meant to live. But you’ve got to take action. Prioritize yourself, your wealth, and your vision—and start building it now. Until next time, this is George Wright III with the Daily Mastermind.

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About George 

George Wright III is a proven, successful entrepreneur and he knows how to inspire entrepreneurs, companies, and individuals to achieve massive results. With more than 20 years of executive management experience and 25 years of direct marketing and sales experience, George is responsible for starting and building several successful multimillion-dollar companies. He started at a very young age to network and build his experience and knowledge of what it takes to become a driven and well-known entrepreneur. George built a multi-million-dollar seminar business, promoting some of the biggest stars and brands in the world. He has accelerated the success and cash flow in each of his ventures through his network of resources and results driven strategies. George is now dedicated to teaching and sharing his Prosperity Principles and strategies to every driven and passionate entrepreneur he meets. His mission is to empower entrepreneurs globally, to create massive change and LIVE their ultimate destiny.

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You have GREATNESS inside you. I BELIEVE in you. Let’s make today the day you unleash your potential!

George Wright III

CEO, The Daily Mastermind | Evolution X

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About Guest:

Peter Culver is a wealth strategist, author, and advisor with over 40 years of experience helping entrepreneurs and families thrive both financially and personally. A Yale graduate and former Senior Wealth Director at BNY Mellon, Peter managed portfolios exceeding $2 billion and was recognized as the #1 Client Advisor for eight consecutive years. His accolades include membership in BNY Mellon’s prestigious Platinum Circle and Chairman’s Council.

Peter is the author of Exit Rich Beyond Money and host of the Thrive Talk podcast, where he shares insights on wealth, wellness, and legacy. His approach blends exit strategy, tax minimization, and holistic life planning to empower clients with financial clarity, freedom, and long-term success. Trusted by celebrities, artists, and business owners worldwide, Peter emphasizes that wealth is about more than money—it’s about creating a fulfilling life and lasting legacy

Guest Resources:

• Website: wealthrive.com/team/peter-f-culver-j-d
• Book: Exit Rich Beyond Money (Amazon)
• Podcast: Thrive Talk
• Instagram: @peter_culver
• LinkedIn: linkedin.com/in/pculver

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