Money Advice for Family & Friends

The millionaire advice I have learned over the last three decades (yes, it is hard to believe I have been at this for over 35 years!) is priceless.

Some insights may seem like common sense, while other wisdom could be priceless for your and your family’s financial future.

If you want my advice to family and friends, you will love today's episode.

In this episode, you will learn:

>> (6:24) My first piece of millionaire advice

>> (8:24) Insight regarding your estate plan

>> (8:34) The first step to creating a plan and what it includes

>> (10:55) Real-world example of unintentionally disinheriting your heirs

>> (11:14) What components are in an effective estate plan?

>> (11:57) What to do if you have minor dependents

>> (13:15) What is a trust protector, and why they are important in some estate plans

>> (13:58) Considerations for replacing income

>> (14:57) Why retirement income is a problem

>> (15:10) Why 401k’s became so popular

>> (16:38) What 35 years of research has shown

>> (17:08) The impact of replacing your income

>> (17:41) Creating your plan to avoid running out of money

>> (21:51) Options to mitigate risk, produce guaranteed income, and replace active income

>> (23:00) The average Social Security monthly check

>> (23:11) What happens to Social Security income when a spouse dies

>> (31:31) Health is wealth and how to keep it

Today, I share some of the most critical insights I have learned in my 35 years advising millionaires. These insights are designed to help you and your family secure your financial future.

Studies show that 40% to 80% of people fear running out of money. In another study, 80% of those surveyed shared that they are more afraid of running out of money than of dying. Today’s insight will help you create a plan so you can worry less and enjoy your life more!

Links Referenced in the Show:

The Millionaire Mindset Guide: https://themillionaireinsider.com/mmg

Get your Free Financial Checkup:  https://themillionaireinsider.com/fc

Show notes and more information: https://themillionaireinsider.com/73

The Estate Plan Checklist: https://themillionaireinsider.com/epc

This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.