Discovering the Financial Cure By Dr. Wendy Labat
People often ask what makes me an expert financial strategist. I start with my entrepreneurial journey that began over 36 years ago. I started a business with zero business experience and very limited financial resources. This was a time when there was no internet or social media, and the only thing you could do with a cell phone was make an expensive phone call! I was in the office equipment sales, service, & supplies industry at the time. My clients were major corporations. To be considered for the big contracts, my company had to project the right image. That meant having a brick and mortar office, employees, inventory, and all the overhead that goes with it. If you projected anything less, your company was perceived as a mom and pop operation not capable of handling the big contracts. Times were tough because my cash flow did not match my overhead expenses. Payroll, rent, utilities, and other expenses had to be paid whether the company made money or not. The more sales and contracts my company acquired, the more inventory had to be purchased to fulfill the contracts. My limited financial resources forced me to think outside the box to meet my expenses. I used creative ways to increase revenue, improve cash flow, and position my company for growth and development. I had to learn how to take control over my finances, make my money work for me, negotiate with my clients to pay my company sooner rather than later, and continue to find creative ways to acquire the things needed to increase the growth and development of my business.
So, I purchased the products I was selling and sharpened my financial services skills. This move was done as part of a business and marketing strategy, not from a personal financial planning perspective. In 2017, I was diagnosed with breast cancer. Every three weeks for a year, my chemotherapy infusions were $67,000 each. I had 5 surgeries, multiple CAT scans, MRIs, ultrasounds, mammograms, and lab tests that exceeded a cost of $300,000. Can you imagine having to pay those kinds of medical expenses in addition to your personal and business expenses while battling breast cancer? The cost of treating this disease could have ruined me and my family financially. Thank God I practiced what I preached and my health insurance paid all of my medical bills. With the supplemental coverage I purchased, it paid me a significant tax-free payout that allowed me to focus on my recovery without worrying about money. I considered this “The Financial Cure”. The Financial Cures SystemTM (TFCS) was developed. My crusade began to improve the financial lives of entrepreneurs, business owners, families, and individuals across the country using my system, TFCS. As a direct result, my clients have evolved in the following ways: • Became more empowered to create specific strategies to diagnose their financial health • Take control over their finances
In 2014, the Affordable Care Act mandated that everyone have healthcare coverage.
• Make their money work for them
As a result, I expanded my business to include insurance products and financial services. Not wanting to be a hypocrite, I believed if I was going to sell my clients these products and services, I needed to acquire them for myself and my family.
• Build a financial legacy
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• Acquire proper protection to prevent financial ruin • Create generational wealth • Enjoy financial freedom, and • Live the life they DESIRE!
