All the Hacks with Chris Hutchins How High Net Worth Individuals Invest and a Deep Dive on Alternative Assets
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Nov 16, 2022 Tad Fallows, co-founder of Long Angle, reveals the unique financial habits of high-net-worth individuals and dispels common myths about their investment practices. He discusses the shift towards alternative assets, emphasizing investing in art and real estate while showcasing innovative strategies like renting part of a home. Tad also covers the importance of self-management in wealth decisions and contrasts renting versus buying in today's market. Listeners gain valuable insights into the evolving investment landscape and effective approaches for managing wealth.
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Low Debt Levels of HNWIs
- High-net-worth individuals often carry surprisingly little debt, even those who are risk-tolerant in other areas.
- This approach allows them to comfortably take risks in investments, knowing their finances are stable.
Long Angle Origin Story
- Tad Fallows and his friend Sriram, after selling their bootstrapped software company, suddenly faced complex personal finance questions.
- This led them to create Long Angle, a community for high-net-worth individuals to discuss financial matters openly.
Wealthy Don't Have It All Figured Out
- Wealthy individuals often feel they haven't "figured it out," especially regarding raising children with wealth. They seek balance between opportunity and instilling values of hard work and self-reliance.
