Tax-Efficient Investing System for High-Earning Millennials and Gen Z with David Hegarty

Jun 27, 2023

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For high-earning millennials and Gen Z, financial success often comes hand in hand with a perplexing challenge — how to make the most of their income. With their eyes set on the future, they know that making smart choices can make their hard-earned money work for them. By harnessing the power of a tax-efficient investment system, this young and savvy generation can pave the way toward a future with financial security, opportunity, and the freedom to live life on their own terms.

In this episode, Jack talks with David Hegarty, Founder & CEO of Playbook, the app for growing money with tax advantages and automation. From his own experiences, David realized that higher-earning millennials and Gen Z earn good money but need to figure out what to do with it. These younger generations also recognize a gap in their financial knowledge and understand that taxes are important to a financial plan. David created Playbook to help this group of individuals automatically put their money in the right places and pay fewer taxes legally.

Recognizing that money stuff can feel hard for most young investors, David talks about why Playbook chose to serve higher-earning millennials and Gen Z, the discoveries David made while building the app, and what Playbook solutions look like.

Key Takeaways

[01:03] - What Playbook is all about.
[04:06] - Why Playbook chose to serve higher-earning millennials and Gen Z.
[06:39] - How Playbook has evolved over time.
[09:33] - The discoveries David made while building Playbook.
[12:17] - What Playbook solutions look like.
[17:29] - Why taxes are the biggest expense investors incur.
[21:05] - How David's daughter nailed Playbook's social media campaign.
[23:11] - What's next for Playbook.
[26:34] - The heart of financial services.
[28:40] - David's three key takeaways.
[31:03] - What David enjoys doing outside of work.

Quotes

[01:24] - "It's hard to beat the market, but it's easy to beat the tax man. And the best way to build wealth is not to overpay the taxes on your investments." ~ David Hegarty

[19:16] - "There are two things certain in life — death and taxes. So it's really important to figure out how to minimize the taxes you pay." ~ David Hegarty

[30:23] - "The option to retire early doesn't mean that you will necessarily retire. But when you have the option to retire, that's when you are fully empowered. That's when you have freedom." ~ David Hegarty

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