Wealth Actually

MARQUES OGDEN is a former NFL Lineman who has parlayed his football experience, lessons learned in the rise and fall of his construction company into a growing public speaking and media career. His podcast recently featured Brett Favre: PODCAST We talk about his background, his playing days and his career path. But we really focus on the perils of success, the importance of teamwork, delegation, and the power of persistence Background Identifying when you were great at footballPlaying with/ Identifying with your brother JonathanFrom Howard to the NFL NFL experience- Jacksonville Jaguars Toughest matchups The biggest misconception people have about the NFL: "That it’s only physical- the mental importance can’t be overstated." Transitioning out of NFL- how do you know when it’s time to hang it up? Describing the difficulties- 6 months of partying Running a business and challenges you faced- Early success- the perils of ego Trusting . . . but not verifying. How did you come out the other side? "8 Figures to 8.25/hr" The role the NFL played in getting back on his feet.What are the lessons you are teaching people? Resilience, Teamwork, Persistence, Delegation Story About The Greatness of Ray Lewis Marques Ogden in Action STAYING IN TOUCH: How do our listeners find you? LINKTREE https://marquesogden.com/ TWITTER "GET AUTHENTIC WITH MARQUES OGDEN" PODCAST https://www.amazon.com/Success-Cycle-Achieving-Goals-Business-ebook/dp/B081DC17D1/ https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

It is a common saying that wealth in families is built and lost in three generations.However, this “shirtsleeves to shirtsleeves” phenomenon is on the minds of most wealthy families.There is constant demand for advice from families of wealth on how to raise productive and kind children.However, there is also a sentiment that the education and preparation of wealthy kids solely stays within the realm of money discussions OR that the interactions should only happen when older.That may not be the case- JEFF SAVLOV is here to talk about the benefits of having these discussions - many times earlier than people think is possible. Jeff is the Founder of Blum & Savlov, LLP He consults with business families, legacy wealth families and the advisors who serve them. He brings more than 30 years of unique experience in sales and marketing, business ownership including business succession within his own family, and family dynamics/psychological training.We will get into what he sees as the benefits of deep early involvement with kids and the establishment of a productive culture to help kids become productive, thoughtful and community oriented. Outline • Jeff's Background • So, raising kids in the context of family wealth is an area of particular interest? 5:25• Is your work about talking to kids about money at really young ages? • How has communication about family wealth changed over time? • I’ve often heard you talk about proactive and reactive in this context. Can you say more about these ideas? • How young can you start? 10:50• What are some practical tips for parents in this context? 14:00• Can you describe an ideal proactive situation you were involved in? 23:00• Do these ideas apply to poor and working-class folks? • Is it ever too late?27:45 How Do We Stay in Touch with Jeff? JEFF SAVLOV LINKEDIN https://www.youtube.com/watch?v=k5iZDrYil3U https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Golf legend, JAY SIGEL joins us on this episode of "Wealth Actually." In United States Amateur Golf, there are three names: Bobby Jones, Tiger Woods and Jay Sigel. Jay is one of the most accomplished amateur golfers in American history. After growing in Pennsylvania, Jay played his college golf at Wake Forest. Afterwards, he embarked on a successful career in insurance and focused on the amateur side of the game-And focus on it he did . . . Jay won: The US Amateur twice (Including his win at the Country Club in Brookline in 1982)The US Mid AmateurThe British Amateurand he played in 9 Walker Cups (captaining two of them). Jay later turned professional at age 50 and played on the Senior tour where he won 10 times. https://www.youtube.com/watch?v=5weEssiMjgM While it’s an amazing story of golf accomplishment, many of the lessons from Jay’s life come from his insurance business, his lessons in mentorship from Arnold Palmer and Jack Nicklaus, his charity work and the importance of family. OUTLINE (Transcript is below . . . .) Jay’s early golf and rise to prominence, -Junior Golf-The role of Wake Forest-His arm injury, the decision to forgo professional golf and the economics of the Tour "back then" The start and story of Jay’s successful insurance business in Pennsylvania -The factors that went into his long-term success in business (and golf’s role in business)-The role of family-The decision to compete on the Senior Tour (and the role of Jack Nicklaus)-Winning as a pro Jay’s charitable endeavors and what is happening now? -THE JAY SIGEL INVITATIONALGolf questions -What made Jay a terrific player?-Was anything missing? -What is the difference between the top .01% and the top .0001%?-Mindset of Stroke vs Match Play -The match with Rick Fehr at Brookline and the aftermath-The great players and lessons learned in Jay’s career The State of the Game -What he thinks of the state of the game after a whirlwind of news in the world of golf:-Impact of length and power on the game -How did Brookline hold up with the modern game? How Do We Stay In Touch? WWW.JAYSIGEL.COM THE 2022 JAY SIGEL INVITATIONAL Jay's Golf Resume https://www.jaysigel.com/new-page https://www.amateurgolf.com/golf-tournament-news/27871/Catching-up-with-Jay-Sigel https://www.youtube.com/watch?v=yhLj8EMCok0 TRANSCRIPT Intro: Welcome back to the Wealth, Actually podcast. The show that features artists, entrepreneurs, experts, and commentators that will give you the right knowledge, planning, and guidance so you can preserve your assets and enjoy your wealth. Learn more and subscribe today at WealthActually.com. And now, here's your host, Frazer Rice. Frazer Rice: Welcome back to the Wealth Actually podcast, I'm Frazer Rice. Today we have an extra special edition of the show. We get to speak with Jay Sigel, who's one of the most accomplished amateur golfers in American history. Frazer Rice: After growing up in Pennsylvania, Jay played his college golf at Wake Forest. Soon afterwards, he embarked on a successful career in insurance and focused on the amateur side of the sport. And focus on it, he did. Frazer Rice: He won the US Amateur twice, the U.S. Mid-Amateur, the British Amateur and he played in nine Walker Cups, captaining the side twice. He later turned professional at age 50 and played on the Senior tour where he won 10 times. Frazer Rice: While it's an amazing story of golf accomplishment, many of the lessons from Jay's life come from his insurance business, mentorship, charity, and the importance of family. Welcome aboard, Jay. Jay Sigel: Thank you. Good to be here and good to be able to speak with you. Frazer Rice: Well, this is a real treat for me. I had Rob Labritz on before talking about his foray into the Senior Open and senior golf in general on the PGA Senior tour. But, what few people understand is that the golf career can take many directions. And, I think you're the personification of that. Your career, and I talked a little bit about it in the opening, pretty iconic in terms of the direction that you took it. Maybe take us through a little bit about your early experiences, sort of where you came from and how you picked up the game. Jay Sigel: I grew up in the Narberth area, which is a suburb of Philadelphia and was active in all sports, but particularly in baseball. And, one day I was caddying for my dad, no intention of playing golf and three bags on my right shoulder at age 10 and a half, 10. And he said, "Would you like to try this game?" I said, "Absolutely. Better than caddying for you three guys." Well, we went from there. Frazer Rice: So, when you started out hitting your first balls, what was that like? Was the talent obvious or were you topping it and it was going 50 feet. How did that work? Jay Sigel: Frazer, I was terrible. Honest to goodness. And, what got my competitive juices up is we visited some friends in Cape Cod every summer and he was way better than I was. So, my goal for the following summer age 11, was to return and be able to beat him not only at horseshoes, baseball, but golf. Sure enough, that was a huge, huge help that competition. Frazer Rice: You sort set some goals for yourself. You started to get better in the different phases of the game. Where did that go structure wise? How did junior golf work in terms of getting more traditional competitive situations? Jay Sigel: Well, we had a great golf association in Philadelphia and I played in the junior event. In fact, I can remember one junior event. My mom took me, it was 12 and under, and the pro said, "Well, sorry ma'am but your son is too old for this. This is 12 and under." I was a tall, pretty big kid. And she said, "No, no, he's 12. He's under 12." So, I remember winning. That was my first victory at age 11, and shot 46 for nine holes. So that was a great memory. Frazer Rice: So you get some taste of junior golf, when did your handicaps start getting down to the area, call it scratch or somewhere around there where you started to look at it and you were starting to believe a little bit more in golf as a path? Jay Sigel: I don't recall having a handicap early on. I mean, this was 65 years ago. One thing I do remember, though, at the club I was at, the mature members were so helpful and so concerned that I do right. That's my first introduction to mentoring, and I had no idea what mentoring meant. And it became very important in my life as you'll see. Frazer Rice: As you were getting mentored at the club level, you had people who were looking out for you, giving you advice and so on. When did Wake Forest start to become an option? How did that process work? Jay Sigel: Arnold Palmer was a friend of the family. His father-in-law and my dad were fraternity brothers, so they were pretty close. They would see each other. And, my dad said, "Arnold, who should Jay take lessons from?" My first official lesson at age 16, Arnold said my dad. So we went out to Latrobe and spent the day there. I can remember clearly eight o'clock in the morning, Arnold had already been hitting balls and here I am 16 years old, getting ready to warm up to have a lesson from his dad and I shanked the first three or four, almost took Arnold's head off. So that was an experience. So, we got to know one another fairly well. Frazer Rice: So, Jay, maybe get into the mentoring side a little bit more because a big part of business development and the development of people generally, it's important to have someone who's looking out for you, and also not just looking out for you, but helping to provide both technical and real life guidance as to how to handle oneself. Maybe go into that a little bit. Jay Sigel: Yeah. You say that so well, Frazer. I didn't have any idea what mentoring was in my early years. I do remember, though, playing, I was 15 or 16 playing the club championship at Bala Golf Club in Philadelphia, where I learned to play and was mentored so well early on. We had a rules question come up and it was ruled against me, but in fact I was correct, but what was I going to do about being correct and losing in the rules? So I won the match. We finished. I was playing a celebrity Philadelphia athlete and he said, "I guess you won." Well, I was boiling, boiling, hot over that. Went into the locker room, one of my dear friends said, "Play him again." I said, "Play him again?" This was the most important win of my life at that point. And I couldn't possibly do that. Of course I did play him again and killed him, so fun and an interesting story. Frazer Rice: Yeah. And, and it's important, too, because the culture around the rules of golf and the self-reporting mechanism sometimes is alien to people. We're used to referees in other sports, and even if you watch professional golf nowadays, and you've got rules officials and people call them over and so on, but the self-reporting aspect is a big deal. Maybe talk about that a little bit, where culture of being the steward of your own game and being the reporter of your own ethics. Jay Sigel: Yes, it's interesting. I mean, I've had occurrences, not many I can [inaudible 00:06:55]. I think when I was about 16 or 17, I was playing the Philadelphia open, which was a big deal at Marion. And I came to about the 14th, 15th hole, and I noticed in my golf bag, I had what appeared to be an extra club. Well, I took my towel, put it over top of the bag. The caddy hadn't said anything. I didn't know it. I hadn't checked my clubs, nor had he, so out we go another hole and it's driving me crazy. I think I made a double or triple buggy, so I uncovered the clubs and there was an extra club. So I had to make a decision in that one whole timeframe. Was I going to keep it hidden or was I going to declare it? Well,

Two years after its onset, the world's response to the COVID-19 Pandemic will be generational event studied for years. It is a reminder that tail risk events happen more frequently than we think. Pandemics have been a feature (not a bug?) throughout the American experience. POLLY PRICE's new book sheds light on the US government's response to epidemics throughout history- with larger conclusions about COVID-19 and reforms needed for the next plague. Polly J. Price is the Asa Griggs Candler Professor of Law and is also Professor of Global Health in the Rollins School of Public Health at Emory University. A public health law scholar as well as a legal historian and citizenship and immigration law expert, she has published, lectured, and taught widely about immigration and citizenship, public health law and regulatory policy, federalism, property rights, and the judiciary. (She also had the "joy" of having me in her Legal Methods class when I was at Emory Law!) Her new book: PLAGUES IN THE NATION https://www.amazon.com/Plagues-Nation-Epidemics-Shaped-America-ebook/dp/B09CD2WDFC/ A) Tell us about your background B) What prompted you to write the book? C) A quick rundown of America's Pandemic History 1 America’s First Plagues2 Yellow Fever and the Shotgun Quarantine3 Black Death on the West Coast4 The 1918 Great Influenza5  Confronting Tuberculosis6 The Fight Against Polio7 The AIDS Epidemic8 Ebola in Dallas9 A Coronavirus Pandemic D) How do you evaluate America's efforts with COVID? E) How did the speed of information affect efforts?  The Global nature of the spread? F) Federalism- What did we learn about the interaction between the Federal Government and State Government Responses? F) What should we do differently?  What are the lessons learned? G) How do we stay in touch? PROF. POLLY PRICE's BIO POLLY's TWITTER PLAGUESINTHENATION.COM https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Today, I have a challenging discussion with Dr. CHRIS HEYE, PhD, founder of WHEALTHCARE SOLUTIONS. We talk about the issues of older age on decision-making and how that affects an individual’s retirement. We go through data on aging and explore diminished mental capacity in detail.  Advisers will learn what to look out for in clients who may be suffering from cognitive decline or even Alzheimers disease, and what those advisers can do about it. Finally, we hear about the formation of Whealthcare Solutions and the data behind the firm. Data on aging. (It's alarming)The expense and wealth redistribution taking place- with no signs of slowing down.The story of Whealthcare Solutions.Misperceptions of “diminished capacity.”The surprising peak age for financial decision-making.How does it affect advisers, and what can advisers do about it?Warning signs. The Wealth Management Industry is in a new and brave world as the tools and thinking around asset management and financial planning may be straining to catch up with the new demographics of country. https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

For advisers dealing with wealth management clients, cybersecurity is a necessary conversation. The wealthy are clamoring for digital protection. Advice on the defense against social media attacks, the selling of information on the Dark Web, online security breaches and asset theft are a part of the advice that most wealth management clients have come to expect from their advisors. How do you get your arms around this high stakes discussion? Today I spoke with TOM RAGSDALE to find out more. Tommy is an early team member at 360PRIVACY, a Nashville-based cybersecurity firm specializing in digital protection for high profile individuals, family offices and executives. He joined in February of 2021 after working in healthcare technology for four years. Prior to that, Tommy flew fighter jets in the United States Marine Corps. Tommy served as a Weapons and Tactics expert, a flight instructor, and led maintenance teams in combat. He is on the literal front lines of the digital security war that clients are fighting everyday- whether they know it or not! We talk about: THREAT ASSESSMENT Define Threat SurfaceIdentify VulnerabilitiesOverlay Threat Landscape DIGITAL HARDENING Privacy ProtectionsDevice HardeningDarkweb Solutions THREAT RESPONSE Breach AssistanceCyber EnhancementTailored Consulting TYPES OF CLIENT Family OfficesCorporate ExecutivesPublic Figures (and the balance between being "off the grid" and "out there")HNW and UHNW clients Find 360 Privacy here: 360Privacy.io TOM RAGSDALE LINKEDIN https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

The Wealth Management Industry is in the midst of massive demographic change. Business models are evolving, old entrants are retiring or merging, technology is leveling the playing field. As a result, clients are demanding more value and the industry is coping with a rapidly shifting landscape. As "Wealth Management" clamors for direction, new expertise to manage this change is emerging. With us today is MATTHIAS KUHLMEY, Chief Development Officer at Hightower Advisors and the developer of the "Disruption in Wealth Management" Module for Columbia University's Wealth Management program. Matthias Kuhlmey began his professional journey as a trained musician, landing somewhat fortuitously in the field of global finance where he has been active as an advisor, capital market expert, and corporate executive for the past 20+ years. Whereas the origins of his two worlds cannot be more different. Matthias has been passionately exploring parallels, especially in observing how technology has been disrupting both industries. Lowering the barrier of entry, preparing the path for a creative (r)evolution. Matthias is a thought-leading critic of socioeconomic affairs, C-Suite executive of one of the leading firms in the independent space for financial advice, and lecturer at Columbia School of Professional Studies in New York City. Background Overview 1. “Disruptive Trends in WM” 2. Big opportunity to define disruption in the context of WM (Music Industry as an example) 3. Ttrust and lack of trust in the system; emerging stores of value 4. The firm of the future; what to consider, trends to build on, etc. Independent Movement Around the Registered Investment Advisor Space             -“Wire House” to Independence             -Regulatory and definition Clarity             -Transparency             -Client -centric Digitization             -Movement away from vertical integration             -Firms now have access to best in breed technology through 3rd party sources             -Vendor selection and maintenance             -Tech as differentiator is now tech as equalizer Product to Service Shift in Industry             -Move away from commoditized offerings             -Relationship oriented advice             -Shifting consumption models- the move to digital             -the importance of Shared mission The Impact of Political Risk              -Mitigating Store of Value Risk             -The Erosion of Trust of “free markets”             -The emergence if digital assets Growth – Organic             -No one solution- but it must be process driven             -Value proposition must be overwhelmingly obvious             -Relationships must be monetizable             -Accountability driven Growth – Inorganic             -Deal Activity has exploded             -Risks- integration             -Emphasis on culture and operations vs transaction             -Organizations must be prepared via network and hierarchy models Future of Wealth             -Access to clients based on value proposition – necessitates specialization             -Talent pool incomplete- not diverse enough, not digital enough, not empathetic enough             -Women- a huge driver of change both as clients and industry leaders             -Meaning of money broader- aspirational sustainable, impact             -Corporate leadership needs new skills to lead the new type of worker and service client             -Economic incentive of workplace culture important but psychological safety is key How Do We Stay In Touch? https://www.linkedin.com/in/matthiaskuhlmey/ https://sps.columbia.edu/faculty/matthias-paul-kuhlmey Recent publications: o Succession: A Relevance Crisiso The Money (R)evolutiono The Values Dimension Resources Columbia SPS:Master of Professional Studies In Wealth Management https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

SHELTON WILDER will be the first to tell you that the Los Angeles Residential Real Estate Market is no joke.  Building a successful practice in the space is hyper-competitive. The glitz and glamour portrayed on Bravo don't tell the story of struggle and heartbreak that exists in this world. We’re going to cover the complexities of LA market and Shelton's marketing acumen- including the increased speed and professionalism required for modern high end real estate., However, the real story is Shelton’s persistence and ability to overcome adversity. We’ll talk about her coming back from her difficult experience on Shark Tank. That experience and struggles with other businesses inform her success today.  Finally, we are going to detail her ability to use persistence, family and the power of sobriety to enhance decision-making. The Los Angeles Residential Real Estate Market https://www.sothebysrealty.com/eng/los-angeles-real-estate/magazines/market How you do you break it down? What has been COVID's effect? What is hot? What is not? Background Shelton's Journey from financial problems to success Sobriety's role in your success Finding your niche Media- Shark Tank “Failure to Success” https://www.youtube.com/watch?v=AuQZvVSBpOg Development of the Real Estate business Use of media to promote your services . . . IG is vital and much faster than typical glossies HOW DO WE STAY IN TOUCH? SHELTON WILDER'S WEBSITE SHELTON WILDER"S INSTAGRAM SHELTON WILDER'S YOUTUBE https://twitter.com/SheltonWilder https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Few investors become so well known that they earn a nickname. BILL GROSS was known as the "Bond King.". A natural polymath, Bill ascended to the throne with his novel total-return approach to managing bonds and his outsized personality.  He built the PIMCO empire through hard work, ingenuity and cult of personality.  Some say he lost the throne through a mixture of hubris, distraction and bad calls. A new book by former Bloomberg reporter, MARY CHILDS, describes it all. Now the reporter and host of NPR’s PLANET MONEY, Mary has written the book: “The Bond King: How One Man Made a Market, Built an Empire, and Lost it All.”  It's out now via Flatiron Books. https://www.amazon.com/Bond-King-Market-Built-Empire/dp/1250120845 Mary’s Background Where did the impetus to write the book come from? Access to Bill Gross What is he like? "Making" the Bond Market- Take us through his background Duke, Navy, Card Counter, Stamp collector, Golfer, Provoker of neighbors What was the sandbox he played in? Not just using bonds, but options, futures and derivatives Buy and Hold vs Total Return What was going on around him?  (Milken- HY Bonds; Icahn and corporate raiders) How did he use technology to amplify his edge? Building the Empire How did he hit scale? How did his Macro bets work? The 2008 bet Pet theory was that his interest rate calls were inside information- Once he had scale- how did he help bend the markets to his whim. Losing it all What happened? 2014 interaction with Mohamed El-Erian 80s bro culture catching up with him? East Coast / West Coast? Distractions?  Bad Habits? In your final analysis , what do you think of him- How do we keep track of Mary? NPR PLANET MONEY LINKEDIN https://twitter.com/mdc https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

"JUST KEEP BUYING" by Nick Maggiulli https://youtu.be/wjPxxUk8D_Y?si=lqJTkK2LrvnRoLsW https://youtu.be/pFmWTHlPTUY?si=GcQqujewbCPqTxSK Generationally low interest rates, inflation, unthinkable geopolitical risks, the speed of information and the prevalence of noise challenge our long-held conventional wisdoms. Many investors are at a loss as to how to save and invest to meet their goals. https://www.amazon.com/Just-Keep-Buying-Proven-Wealth/dp/0857199250/ Against that fearsome backdrop, Nick Maggiulli, joins us to talk about his book “Just Keep Buying” due out in April on Harriman House Publishing. Nick is the creator of the successful OF DOLLARS AND DATA blog and is the Chief Operating Officer at RITHOLTZ WEALTH MANAGEMENT.   His book challenges many widely-held investment beliefs, and recasts them with a data driven analysis for a modern investor. Background- The sequence that: Got Nick to Stanford Led to the development of the blog / Nick's role at RWM What problem did Nick want to solve with book? Good slot to talk about your powerful introduction Comfort with data to analyze “rules of thumb” and other bromides The Decision to Analyze Saving vs Investing The problems with saving advice What did the data uncover? How does this relate to spending? The problems with investing advice What is one of the typical sayings that the data doesn’t support “Just keep buying” How should investors reach “escape velocity” past their liabilities? The importance of time horizons and liquidity cushions Cash Flow vs Asset Growth (strong personal balance sheet) How do you think about investing to maximize one’s income vs the growth of the balance sheet? How do you get people’s brains/emotions out of the way of data driven choices? How do you think about guardrails or insurance around 1% events either in the market or personally?  Function of cash?  Allocation vs barbell approach? We’re in the midst of a big market test right now . . . what Nick's advice for: Current Investors New Investors / When should parents get their kids involved? https://www.youtube.com/watch?v=wjPxxUk8D_Y&t=4s How do we buy the book?  How do we stay in touch? BLOG: OF DOLLARS AND DATA HARRIMAN HOUSE PUBLISHING https://twitter.com/dollarsanddata https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/