Afford Anything Q&A: We Save $5,000 Per Month. Where Should We Invest It?
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Apr 12, 2024 Former financial planner Joe Saul-Sehy tackles questions from listeners about investing extra cash, managing wealth for high-net-worth individuals, analyzing condo investments, and maximizing financial goals through strategic saving and investing strategies.
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Risk Management
- Address the biggest financial threats first, like catastrophic illness in retirement.
- Secure appropriate insurance coverage to protect your assets.
Financial Planning Focus
- Prioritize income, expenses, and assets when planning finances.
- Focus on income generation as it significantly impacts net worth growth.
Estate Planning
- Set up an A/B trust system to maximize estate tax benefits.
- Consider a second-to-die policy for estate planning purposes.