Create A Formula To Help Reduce Risk and Simplify Your Finances
Common Sense Financial Podcast
Navigating Inherited Wealth
This chapter explores the unique challenges that second-generation business owners face in managing their inherited wealth. It advocates for a structured investment framework over impulsive decision-making, using the analogy of a recipe to illustrate the importance of a systematic approach to financial management.
Brian Skrobonja discusses the crucial role a well-defined investing strategy plays in making smarter financial decisions.
He covers ways to create an investing framework you can follow, why blindly taking investing risks is a recipe for disaster, and ways to navigate financial decisions with confidence and clarity.
- Brian starts by highlighting the crucial role a well-defined investing framework plays in securing your financial future.
- He highlights a common misconception about retirement: many people think retirement is the final destination. In reality, it’s just a transition point, and how you prepare for this phase can shape your financial future.
- Brian explains how having a defined strategy can simplify your retirement journey and help ensure a smooth transition.
- Brian compares retirement to halftime in a game: it's a moment to reassess, adjust your strategy, and return to the field with more clarity.
- Do you have a system for achieving your financial goals? Brian encourages you to create a framework that delivers consistent, predictable results.
- Many people misunderstand what it takes to build an effective investing system. Brian stresses that reshaping your thinking and approach is key to achieving larger financial goals and breaking free from outdated processes.
- The multitude of paths available can make financial decision-making feel overwhelming. Brian’s advice: to find success, you must be open to learning and reshaping your thinking about investing.
- Learn how to assess and manage risk effectively and align your investments with your goals.
- Understand that quantifying risk can be challenging because the outcome of an investment may not be clear until much later.
- Second-generation business owners often struggle with newfound wealth and responsibilities. Brian shares insights on how to overcome these challenges and ways to help secure your financial legacy.
- According to Brian, a solid investing formula can help you navigate risk and enhance your financial outcomes.
- How do you define risk? For Brian, your level of education and understanding shapes your personal risk tolerance--being aware of this helps you make more informed decisions.
- The true level of risk you’re carrying when investing can be difficult to assess. Understanding your financial situation and making educated choices helps reduce uncertainty.
- Brian reveals how having a clear plan empowers you to make smarter decisions and manage your portfolio more effectively.
- Brian reveals why a solid investing formula should be built on a checklist focused on proven rules rather than past market performance or others’ opinions.
- If you don’t have a framework for making financial decisions, now is the time to create one.
- Building wealth is not about random decisions or chance—it’s about following a well-designed formula.
- Trying to prepare a financial plan without a clear system leads to wasted time and unpredictable results. Brian’s recommended approach ensures you follow a formula that drives consistent and measurable success.
- Many people misunderstand the concept of diversification. Brian explains that it’s not just about picking stocks—it’s about creating a broader asset allocation framework that works for your unique goals.
- Hoping for a good future is much different than mapping out your future.
- Brian shows how having a clear strategy ensures you make the right decisions at every stage of your financial journey.
- It’s not enough to simply create a framework—you must commit to following it. Brian explains how dedication to your strategy is the key to achieving the financial results you desire.
Mentioned in this episode:
Common Sense Financial Podcast on YouTube
Common Sense Financial Podcast on Spotify
How to Make a Few Billion Dollars by Brad Jacobs
Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.
Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.
The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.
This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Actual future results and trends may differ materially from what is forecast.
Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.
Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This show is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency.
The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.
Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. Endowment funds are managed for institutions not individuals. An endowment-like strategy is not an endowment or an endowment fund.
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