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The WealthyWellthy LifeThe WealthyWellthy LifeThe WealthyWellthy LifeThe WealthyWellthy Life

Episode Summary

Welcome to the Wealthy Wellthy Life with Krisstina Wise. Jason Giorgio is a key advisor for Pacific Advisor’s high net worth clients. He helps his clients with advanced estate planning, business planning, and tax efficient asset management. It might be surprising for the audience to know, but between 40-50% of baby boomers have absolutely no savings for retirement. How can you prevent this from happening to you? Jason speaks today on some of the things you need to think about when it comes to protecting your wealth and having it work for you long after you’ve retired or have been injured.

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What We Covered

  • 03:15 – Wealth is a huge buzzword right now, but what is ‘wealth’ really?
  • 06:15 – What is cash flow and why is it so important?
  • 07:00 – You want to live a good life throughout your life, not just when you retire.
  • 07:35 – The way the average American builds their cash flow doesn’t produce long-term gains.
  • 12:15 – We’re living much longer, which means we need to make sure we have the necessary resources that will help support that longevity.
  • 13:15 – If you look at the baby boomer generation, they’re the least prepared for retirement despite having things stacked in their favor.
  • 14:10 – 40-50% of the baby boomer population has zero savings for retirement.
  • 14:15 – Following traditional and ‘common sense’ wisdom can be dangerous.
  • 16:55 – How should we think about our money today?
  • 17:20 – Most people haven’t taken the basic steps to protect their cash flow.
  • 18:25 – What would happen to your finances if you died, were disabled, or even if you got sued?
  • 23:15 – How do we protect our income?
  • 31:35 – Who really likes to talk about insurance? There’s a ton of bad people in the insurance industry.
  • 37:45 – By not taking a deeper interest in where your money goes, you could end up spending several thousands to millions of dollars in fees.
  • 38:30 – Cheap is not always better. If you were shopping for a parachute, would you look in the bargain section for it?
  • 41:10 – What’s a common money myth that’s out there?
  • 46:55 – If you don’t know, then you should look into it. You may be missing big opportunities by not doing proper research.
  • 47:15 – Start young.
  • 48:25 – You should look at insurance as an asset, not as a liability.

Tweetables

Links Mentioned

Pacific Advisors
Pacific Advisors – Jason Giorgio
Request an Appointment with Jason Giorgio

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The WealthyWellthy LifeThe WealthyWellthy LifeThe WealthyWellthy LifeThe WealthyWellthy Life