5 More
Surprising
Insights about
High Net Worth
Retirees
Gene Thomas
Offredi, CFP®, RFC™
Secrets to Keeping
and Building Wealth
throughout Your Life
1
5 More
Surprising
Insights about
High Net Worth
Retirees
Gene Thomas
Offredi, CFP®, RFC™
Secrets to Keeping
and Building Wealth
throughout Your Life
Summit Investor Coach, LLC is an investment adviser registered with the Connecticut
Department of Banking and Finance, who has not verified nor endorsed this material. This
material should not be interpreted as a solicitation to offer investment advisory services to
residents of any state where Summit Investor Coach is not authorized to do so.
Copyright © 2016 by Gene Offredi
ALL RIGHTS RESERVED. No part of this book may be reproduced or transmitted in any form
by any means, electronic or mechanical, including photocopying and recording, or by any
information storage and retrieval system, except as may be expressly permitted in writing from
the author. Requests for permission should be addressed to Gene Offredi 652 Boston Post Rd.
Guilford CT 06437
ii
Introduction
Four years of writing more than a hundred blog posts on building wealth didn’t
prepare me for this.
My website master showed me that one blog post outperformed all the others by a
huge factor. That one post didn’t seem more valuable than many of the others. But
over a two year period during which I wrote and posted more than 30 articles, this one
post generated more than ten times the interest of the second most popular post.
So I studied that post. Then I created this short e-book based on providing you with
what I think is content as powerful as that original post. I’ve also included the original
post (with updates) and other popular blogs from the past. My study and consultation
with others led me to believe that you, the Summit Investor Coach reader, made that
post your absolute favorite because it:
• Told you things you hadn’t heard elsewhere
• Was research-based
• Spoke to the financial concerns of high net worth individuals
• Revealed counter-intuitive information—sometimes the opposite of what many
investment advisors recommend
• Touched on wealth issues we all face
Which post am I talking about? It was a February 15, 2014 post entitled, “4 Surprising
Insights about High Net Worth Retirees.” You can still find the original on the blog on
my website. My hope is that the magic generated by that post will be reproduced and
multiplied by what you’re about to discover in this little e-book.
I wish you financial, personal, and family success.
February 10, 2016
Gene Offredi, CFP®,RFC™
Summit Investor Coach, LLC
652 Boston Post Road, Suite 3
Guilford, CT 06437
203.453.1017
www.summitinvestorcoach.com
iii
Contents
5 More Surprising Insights about High Net Worth Retirees
2-13
5 Times When You Should Spend Your Money
14-21
4 Surprising Insights about High Net Worth Retirees
22-31
He Makes $3,600,000 but Lives on $60,000
32-37
Best Wealth Practices for High Net Worth Individuals
38-49
More Resources
50-51
Gene Offredi Biography
52
5 More
Surprising
Insights
about High
Net Worth
Retirees
2
Because high net worth individuals are frequently studied
and written about, we think we know more than we do
about them. We also assume that the more money, the
more resources you have when you enter retirement,
the better off you will be in retirement. Both of these
assumptions are false.
Business owners and other high net worth individuals are
a diverse group. What’s true for some isn’t true for most.
And wealth alone doesn’t secure a comfortable retirement.
Much more important may be the actions and ideas you’ll
read about in this article and throughout this short e-book.
Some of the information here is available on my blog,
but everything in this first article is new. My purpose is to
encourage you to pursue the goals and dreams you have
for your financial future by building upon what we know
already about financial and investment success. I think you’ll
find many or all of the insights and information presented
here new, surprising, and most importantly, beneficial.
3
1
T
IG
IN S H
“If you’re wealthy you
probably do worry about
your retirement savings.”
Households with at least $250,000 in investable assets
are more concerned with saving and investing enough
for retirement than with creating a legacy for their heirs,
according to a March 2015 TIAA-CREF Affluent Investor
Barometer survey. Other research supports this finding. A
Legg Mason survey found high net worth individuals (in this
case, people with $200,000 in investable assets) spend 475
hours a year worrying about money.
This could be because, according to a Spectrem Group
survey, most millionaires and high net worth individuals
don’t consider themselves rich. When Spectrem researchers
asked people with a net worth between $1 million and $5
4
million to put themselves on a sliding scale ranging from 0
(poor) to 100 (wealthy), the average response was 63.91 —
or just above the middle.
What can you do right now to better protect
or grow your wealth?
In the Legg Mason survey, investors said they would need
$2.5 million in retirement savings to enjoy the lifestyle they
have today. That’s about $2.2 million more than the average
balance of $385,000 those investors actually had in 401(k)
s and similar retirement plans. That might help explain why
only 40 percent of the investors surveyed said they’re “very
confident” in their ability to “retire at the age I want to.”
And the investors surveyed have set more aside than the
average retirement saver.
At Fidelity, the nation’s largest retirement plan provider, the
average 401(k) balance was $91,300 at the end of 2014.
5
2
T
IG
IN S H
“The richness of your
social life is critical to your
retirement.”
The CFA Institute runs the Wealth Management Conference.
At the 2015 conference, Michael Finke delivered a main
presentation. Michael is the professor and director of
retirement planning and living in the personal financial
planning department at Texas Tech University. Among the
professor’s conclusions were:
• One of the most important elements in retiree
satisfaction is positive relationships, especially when it
comes to one’s spouse.
• Women tend to have larger social networks than men
and so when men retire, they have to rely on their wives
a lot more to be their primary source of social support.
• Social interaction is key. One way to think about how
you get satisfaction in retirement is as a commodity,
Finke said. “Retirement satisfaction is a commodity —
you combine goods and services together, your time
and your money, combined with other things, like
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health, to produce an activity, and it’s the activities that
provide satisfaction in retirement.”
• Money itself does not provide happiness. It’s how you
use the money and what you combine it with in order
to produce the commodity of satisfaction that counts.
Is your current wealth hard at work for you or
are you working too hard for it?
Many high net worth individuals and business owners
focus on accumulating money. That’s good and important.
But the research shows that enjoying your later years
and having a comfortable retirement depend less on
your money and more on your health and your social
connections.
“I think the key indicator for wealth is not
good grades, work ethic, or IQ. I believe it’s
relationships. Ask yourself two questions:
How many people do I know, and how
much ransom money could I get for each
one?”
— Jarod Kintz
7
3
T
IG
IN S H
“Your likelihood of
moving out of your home is
dramatically increasing.”
According to Research Magazine’s Think Advisor, high net
worth individuals and other retirees are much, much more
likely to move than retirees were just a few years ago. The
good news is that retirees who move are happier after they
move than those who stay put, according to a 2009 study
by the Center for Retirement Research at Boston College.
The likelihood of moving has roughly tripled within each
age group of retirees between 1968–1984 and 1996–2011
(even though the percentage among young seniors is still
very low). The most dramatic trend in the 21st century is
the sharp rise in moves to senior housing by younger (age
65–74) retirees in the highest wealth groups.
8
More young, wealthy retirees are deciding to sell their
homes and transition into an environment tailored to
retirement living. These high net income individuals are
lured by innovative senior housing options (swimming
pools, fitness centers, etc.) that promise an improvement in
lifestyle.
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4
T
IG
IN S H
“Income isn’t among the
top three reasons you may
work during retirement.”
In the Wealth Management Insider, Lewis Schiff says the
three most important reasons retirees age 60-70 work
during retirement have nothing to do with needing or
wanting more income.
The retirees’ (including high net worth individuals) top
three reasons to work are to keep:
1. Mentally active
2. Physically active
3. Connected with others
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Retirement careers can also drive a positive retirement
experience. Retirees who work part-time on their own terms
find the retirement better than they expected and are more
satisfied than either those not working or those working
full-time.
Are you better off today that you were five
years ago? Will you be in an even better
financial position in another five years?
How will you make that happen?
Having a retirement career is part of an ideal retirement
scenario for a many high net worth individuals and business
owners. And, according to a Merrill Lynch survey, about half
of retirees who plan on working, expect they’ll never stop
completely.
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5
T
IG
IN S H
“Many recent wealthy
retirees are surprisingly
satisfied.”
I love this insight.
A T. Rowe Price national survey of some 1,500 people
who retired between 2009 and 2014 with median net
assets of about $500,000 found surprisingly high levels
of satisfaction. They like where they are money-wise
and socially. But, like the earlier insight about having a
vibrant social life points out, a key differentiator between
satisfied retirees and those not satisfied was marital status.
Compared to singles, married couples tend to be both more
satisfied with retirement in general and more financially
secure.
12
The National Institute on Aging’s Health and Retirement
Study found that most people are happy and active in
retirement. Some 61 percent of retirees said they found the
retirement transition to be “very satisfying.” One-third of
retirees reported moderate satisfaction, and only 7 percent
reported that their retirement was not satisfying.
“I have enough money to retire
comfortably for the rest of my life. Problem
is, I have to die next week.”
– Anonymous
13
5 Times
When You
Should
Spend Your
Money
14
I’ve devoted my career to helping high net worth
individuals and business owners save and invest. But you
must know that sometimes it’s good to spend your money.
I say this with some trepidation. I never want to encourage
anyone to spend money needlessly. Please do save and
invest as much as you can. But sometimes you strengthen
your financial fortune by spending. Sometimes spending
makes good financial sense. Other times spending is a
reward you deserve. Here are five times when high net
worth individuals should considering spending money.
Is your financial plan based on your current
and future needs or is it based on old
information or needs that may no longer be
as important to you?
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1
“Spend when the item
you’re buying has a good
chance of increasing in
value”
This concept comes up mainly with young people. When
they’re in an apartment and thinking of buying a home they
sometimes hesitate. Buying a house costs a lot of money. It
will challenge your monthly budget. It’s a big commitment.
But people of any age who have saved for a home and
won’t have to spend more than about 25% of their monthly
income on house payments are often wise to buy. Homes
tend to increase in value. Your own home usually gives you
a lot more space and comfort. Homes are often among the
most valuable assets business owners and high net worth
individuals own.
Don’t be hyper-concerned about every penny.
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2
“Spend when your saving
and investment needs are
met”
I’m old enough to know business owners and high net
worth individuals who experienced the Great Depression.
More recently, other business owners have lost a fortune
when their family businesses failed. Still other business
owners and high net worth individuals have lost hundreds
of thousands of dollars due to a family member’s bad habit
(gambling, addiction, etc.). If you’ve been through drastic
poverty or drastic financial losses, you can become hyperconcerned about spending a penny. You may go beyond
being frugal. This isn’t financially healthy.
For example, I know one millionaire who owns just one pair
of shoes and refuses to consider another pair until the shoes
he has wear out. People like this man impose unnecessary
financial suffering on themselves. Do be thrifty. But don’t
be so hyper-concerned about every cent that you deny
yourself or your family the basic necessities.
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3
“Spend on things you
deeply believe in or to
build an inheritance of
memories”
Try thinking of the concept of “inheritance” differently. The
inheritance you leave, instead of being only money, could
also feature a set of fond memories you can create together
as a family while you’re still alive. Would your family rather
have $10,000 more when you die or would they rather take
a long discussed dream cruise or vacation together? Money
doesn’t always last but memories can.
Or you may have devoted thousands of hours to a charity,
house of worship, or cause that means the world to you. A
financial gift to that excellent local hospital, life-changing
social service agency, or business-building cause may be
more meaningful to you and to others during (rather than
after) your lifetime.
Money doesn’t always last but memories can.
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4
“Spend when your spending
will save you money in the
long term”
I know a 35-year old man who hesitated to buy a new car
because he could get a used one for less. But he did buy
new and still has that “new” car now, 20 years later. He spent
more money 20 years ago but has saved more in the long
run by not having to replace his car. The window on one
side no longer goes down. The car has about 150,000 miles
on it. But the car runs well, is clean and comfortable, and my
friend is enjoying it.
Another simple example is the Entertainment book (or any
coupon book.) It might cost you $20 but if it saves you more
than $20 on items you would have bought anyway, then
you come out ahead. The key, of course, is actually buying
a book with coupons for restaurants, retailers, and other
things that you would ordinarily frequent.
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5
“Spend when doing so may
motivate you to save and
invest more”
Saving and investing come first. But if you save and invest
to the extreme max without ever spending money on
yourself, you risk losing your true self. You risk living your life
to save instead of living to do what you really want.
If you give yourself goals that make you happy (such as
buying your dream house or dream car), you may have a
better chance of saving successfully. Giving yourself big
goals that excite you and that you can visualize provides a
huge amount of motivation.
Don’t live your life just to save money
20
Many, many times spending is not wise. But like anything in
life we should not overdo the restrictions we place on our
spending.
If you have a sound financial plan and if you’re well on
your way to your saving and investment goals, adding a
little thoughtful spending can add excitement, pleasure,
thankfulness, and spice to life.
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4 Surprising
Insights
about High
Net Worth
Retirees
22
Shock.
That’s how most people react when I tell them that wealthy
business owners and other high net worth retirees often
struggle in retirement. It’s frightening but true.
A major research institute found that only 13% of workers
are very confident of having enough money to live on
when they stop working. That percentage is low even for
business owners and people who have a high net worth. So
let’s reveal some truths about retirees and workers who will
soon face retirement.
Only 13% of workers are very confident of
having enough money for retirement.
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1
T
IG
IN S H
“Wealthy People Often
Struggle In Retirement”
I’ve seen it many times. Some wealthy people fail to
understand the serious financial challenges that even their
high net worth can’t protect them from when they retire.
They don’t see the many factors that can destroy financial
comfort for anyone:
• Outliving their assets
• Withdrawing funds too quickly
• Surviving a financial crisis
• Underestimating their retirement
savings’ need
24
There are more factors many people forget. Business
owners and high net worth individuals usually
underestimate the need for long-term care insurance.
They may not realize how high medical costs can be in
retirement. And many people of high net worth don’t
focus enough on the risk posed by inflation. In 20 years, a
4 percent rate of inflation can reduce the buying power of
one dollar to just 45 cents.
In 20 years, 4% inflation reduces one dollar to
45 cents.
25
2
T
IG
IN S H
“Without Planning, High
Net Worth Tends To Become
Low Net Worth”
Once we retire and stop earning (but are still spending), it’s
easy to go through a large estate surprisingly quickly. Even
an estate of $10 million can erode with annual spending of
$400,000 or $500,000 after taxes.
Imagine you’re a 45-year-old doctor and you make $250,000
a year. You plan to retire at age 65 and want to maintain
your current lifestyle. You would likely need $3,000,000 in
liquid assets when you retire.
26
Do you see yourself as a high net worth
individual? If not, what would it take for you
to get there?
27
3
T
IG
IN S H
“Many High Net Worth
People Focus Too Much On
Wealth Accumulation”
Some business owners and other people spend their
careers doing a great job of earning money, saving money,
and investing money. But when they reach retirement
they’re ready to coast and stop thinking so much about
finances. Oh, how dangerous that is.
Money is like ocean waves breaking on the beach.
Money can flow in majestically and it can just as easily
and dramatically flow out. Wealthy people still require a
dependable income stream in retirement. It’s the best way
to sustain wealth. Wealth accumulation is great but wealth
maintenance is equally important.
28
Part of the reason for this lack of focus on wealth
maintenance in retirement is a misconception about the
length of retirement. Gone are the days when you could
plan for a 10 year retirement. Most people will live in
retirement much longer than that. We need to generate
a retirement income stream that will provide income that
will last at least 20 – 30 years. Some people will live in
retirement longer than they lived in the work world. And if
both you and your spouse are age 65 there’s more than a 70
percent chance that one of you will live at least until age 85.
The fastest growing U.S. age group? People
age 85+.
29
4
T
IG
IN S H
“The Wisest Live As If
They’re Much Poorer”
This last truth is perhaps the most important.
This truth was best revealed years ago in the Thomas
J. Stanley and William D. Danko’s bestselling book, The
Millionaire Next Door. Smart high net worth people live
below their means (think Warren Buffett). They are often
unassuming and modest and show no signs of luxurious
spending. They don’t showcase their money—they save
and invest it.
Whatever your current net worth status may be, you need
to practice good financial management. Realize that
retirement can be a struggle even for the wealthy without
proper planning.
30
Understand that you will still need a stream of income in
retirement that will prevent you from outliving your assets.
And regardless of your wealth, live below your means, not
on the edge of what you think you can afford.
“Ultimately, what you get will never make
you happy long term. But what you become
and what you contribute will.”
– Tony Robbins
31
He Makes
$3,600,000
but Lives on
$60,000
32
Ryan Broyles, a Detroit Lions wide receiver, has a contract
for $3.6 million but supports his family on a budget of
$60,000.
This is one smart man.
33
We’ve all heard the horror stories of sport superstars going
broke. Basketball great Vin Baker made $97 million in the
NBA, lost most of it, and has had nothing but financial
hardship since retiring in 2006.
The trail of former NFL greats who lost millions includes
Johnny Unitas, Lawrence Taylor, Terrell Owens, and Dan
Marino. In fact, according to the web-based personal
finance service, Mint.com, 78 percent of NFL players file for
bankruptcy within five years of retirement .
National Basketball Association (NBA) players do better.
Only 60 percent of them file for bankruptcy within five years
of retirement. And if you think baseball players do better,
consider that they file for bankruptcy at four times the
national average.
1 http://blog.mint.com/how-to/from-stoked-to-broke-why-are-so-manyprofessional-athletes-going-bankrupt-0213/
34
Does your financial plan help advance your
non-monetary goals in life? Does what you
do with your money line up with what you
value and how you want to spend your time?
So what gives? High net worth individuals, especially
people who make a lot of money very fast make a slew
of major mistakes. Many overspend. Many don’t educate
themselves on money matters. Others make poor
investments or entrust their money to the wrong people.
35
Ryan Broyles knows this. Apparently he’s seen other players
blow through huge piles of cash. It’s made him determined
to not let the same thing happen to him and his family. He’s
got the right attitude.
“Whatever comes, it’s just a blessing,” Broyles told ESPN. “But
I got the mindset of a businessman off the field, I’ll tell you
that.”
Among his good money habits are:
• Checking his investments frequently using a mobile
app
• Taking advantage of everything he can to increase
his savings (like the NFL’s matching 401(k) plan)
• Working with a qualified professional financial
advisor
36
Broyles said he and his wife, Mary Beth, have lived on
$60,000 a year, “give or take,” throughout his career.
Everything else has gone to investments, retirement
savings, and securing Broyles’ post-football monetary
future.
So whether you make $15 million a year or $35,000 you should
follow the smart path that Broyles is on:
• Spend less than you earn
• Have a budget and stick to it
• Be personally involved in your spending and
investment plan
• Educate yourself about investments
• Put away all you can for your future financial needs
“It is better to have a permanent income
than to be fascinating.”
– Oscar Wilde
37
Best Wealth
Practices
for High
Net Worth
Individuals
38
Becoming a high net worth individual is one thing;
maintaining that wealth can be quite another.
Following are some simple but often overlooked best
practices for maintaining wealth.
39
1
Think why before how
Don’t even think about how to grow or maintain your
wealth until you understand your goals, comprehend your
long-term needs, and put your situation in context. Think
about your financial “pain points.” How important is it to
ease that challenge or pain? How will making a financial
move affect your family? Why will making a move make you
better off than you are today?
“Happiness is not in the mere possession of
money; it lies in the joy of achievement, in
the thrill of creative effort.”
— Franklin D. Roosevelt
40
2
Understand how all your
finances fit together
The wealthiest individuals, business owners, and families
have complex needs. Don’t view one change in isolation.
Understand how changing that tax status or investment
strategy or stock portfolio or other element might affect
other portions of your comprehensive financial plan.
Among the elements you should consider are your
business, philanthropy, investments, tax and estate
planning, family dynamics, business succession plan, and
retirement needs.
How can you better surround yourself with
people who know even more than you do
about building and maintain wealth?
41
3
Listen to your advisor team
The best quarterback doesn’t win the football game. The
best team wins the game. Mine your advisors for their
ideas. Let them comment on your own ideas before you
implement them. Consider what your accountant, lawyer,
investment professional, and any other trusted advisor has
to say. Doing so will increase the likelihood you’ll make the
best decisions.
42
4
Include your family
True communication is more than a transaction where
information is passed from one person to another. True
communication allows all affected parties to have a voice.
I know of a high net worth individual who worked with a
wealth management firm that provided outstanding estate
planning service for him. He was the patriarch of a large
family. While he loved the estate plan, his heirs didn’t see it
until after he died. When they did see the plan, they were
disappointed.
If you’re the chief financial decision maker in your family, I
encourage you to share as much as you can with others in
your family. It sounds simple, but many business owners
and high net worth individuals have trouble bringing up
critical financial matters with their heirs.
“Wealth is the slave of a wise man. The
master of a fool.”
— Seneca
43
5
Build a business
While building a business can take a lot of money, high
net worth individuals can find themselves at an advantage
when it comes to raising start-up capital. You may have
a large savings account, a personal loan fund, and high
credit scores. Those assets and attributes may allow you
to gain approval for a large loan at a competitive interest
rate. Helping to fund a new business may be a longterm investment, but the potential returns can be quite
significant over time.
Who can you mentor about money matters?
Who will benefit most from the financial
wisdom you can share? How and when will
you make that happen?
44
6
Invest in financial products
Many of the wealthiest families and individuals invest
in stocks, bonds, and other financial products. It’s the
quintessential way to use money to make money. You
can either handle investments yourself or work with an
investment advisor. With venture capital investments, you
play an active role in shaping an entrepreneur’s business.
Other hands-on investments are actively trading stocks and
bonds and extending loans to individuals and businesses.
Selling or leasing real estate is another profitable, hands-on
investment opportunity.
Maybe buying residential or commercial property and
raising its value through renovations and improvements
is for you. Or perhaps you should focus on mutual funds
to help your money grow without having to monitor your
investments daily. Mutual funds can be ideal for you if you
put in more than 40 hours per week in the office, and simply
don’t have time to study and master investment strategies.
ke that happen?
45
7
Maximize your tax savings
You can significantly increase your after-tax income by
taking advantage of tax write-offs. Many write-offs are
not well known. They’re perfectly legal ways you may
legitimately try to reduce your tax burden. Try consulting
with a personal tax specialist who’s experienced with the
needs and opportunities of high net worth individuals and
business owners.
What values and causes do you value most?
How can you use your financial resources to
promote those values and strengthen those
causes?
46
8
Devote time to researching
investments
Several years ago, two researchers — Thomas J. Stanley and
William D. Danko — spent several years studying the habits
of millionaires. Their findings are documented in the bestselling book, The Millionaire Next Door. Stanley and Danko
found that on average, millionaires spend almost 20% of
their income on investments. And they actively research
their investments. In other words, many high net worth
individuals don’t view investing as simply a retirement plan,
but rather, one of the most important drivers of their wealth
and future security throughout their lifetime.
47
9
Do keep a budget and
avoid most unnecessary
luxury items
Stanley and Danko also found that most millionaires
have a budget. Are you surprised? These high net worth
individuals consider budgeting important and they stick to
it. That means, they have a plan and they value their plan. In
the end, this can make a huge difference.
What cars do you think most high net worth individuals
drive? According to Stanley and Danko, the most popular
make of car among millionaires is Toyota. That’s hardly a
luxury car name. More than 80% of luxury cars (Mercedes,
Porsche, BMW, Lexus and others) are purchased by nonmillionaires –that is, people trying to create the illusion of
wealth. It’s fine to indulge in some luxury but don’t overdo
it.
The lesson? Spend your money where it will make a true
difference and not in places where you’ll get little or no
return on your money.
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Spend your money where it will make a
true difference.
49
More Resources
My E-books (available at summitinvestorcoach.com)
Plan, Retire, Relax: Your Retirement Guide Book
21 Critical Retirement Questions Answered: A workbook for
recording and committing to your retirement plan here and now
Print Books (available by request)
The Serving Leader: 5 Powerful Actions That Will Transform Your
Team, Your Business and Your Community*
GIVING Transforms YOU…52 ways giving transforms you, your
family, your business and your community*
Print Books (available on Amazon.com)
Plan, Retire, Relax: Your Retirement Guide Book
21 Critical Retirement Questions Answered: A workbook for
recording and committing to your retirement plan here and now
Blog Posts
6 Small Impactful Financial Steps For High Net Worth Individuals
and Business Owners
7 Things You Should Never Hear From Your Financial Advisor
Business Owners: Avoid These Exit Strategy Pitfalls
How Millennials Are Saving For Retirement
50
Gene Offredi, CFP®,RFC™
Summit Investor Coach, LLC
652 Boston Post Road, Suite 3
Guilford, CT 06437
203.453.1017
www.summitinvestorcoach.com
* For one free copy call my Guilford, Connecticut office at
203.453.1017 during business hours.
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Gene Offredi Biography
High net worth individuals,
business owners, and others come
to Gene Offredi, CFP® RFC™ for
financial coaching to maintain,
build, and pass on wealth.
In 2002, Gene founded Summit
Investor Coach, LLC, a registered
investment adviser firm. Through
the firm, Gene provides a wide
range of money management and
investment services including financial planning, educational
seminars, estate planning, retirement planning, and investment
coaching.
In a phrase, Gene is a financial coach. Wealth management
education is a major portion of the value his 120+ clients receive.
High net worth individuals and business owners work together
with Gene, an attorney, a CPA, and other advisors to create a
well-rounded, accomplished wealth management team. They
receive a lot of free educational information. For example, Gene’s
blog covers new financial topics every month. Gene is also
author of two free ebooks on retirement available on his website:
Plan, Retire, Relax: Your Retirement Guide Book and 21 Critical
Retirement Questions Answered.
The primary benefit clients receive is the knowledge and
assistance required to make them financially independent and
reach their personal financial goals. Gene’s wealth management
process enables virtually anyone to plan for a lifetime, not just
for the next 3, 5 or 10 years. On average, Gene’s clients have been
with him for 15 years.
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