I'm Rich- Do I need a financial advisor?

Im Rich. Now What?

Hey everyone, welcome to another episode of "I'm Rich, Now What?" with Iron Man and Thor. Today, we're diving into the topic of financial advisors. Do you need one? When should you get one?

Iron Man shares his journey of finding a financial advisor at a trade show while he was still building his wealth. His advisor provided industry-specific insights, like restricted property trusts and captive insurance plans, to help him maximize profitability and mitigate taxes.

Thor discusses the importance of having a financial advisor who understands your industry and the value of a good CPA and tax attorney. They debate whether CPAs who are also attorneys are too stretched thin to be effective. The conversation touches on how CPAs can either just handle your taxes or proactively suggest ways to minimize them.

Iron Man talks about the significance of a financial advisor who acts as a family office, managing all financial transactions and planning. He emphasizes the need for strategic planning, balancing current and future financial goals.

The hosts agree on the necessity of having a financial team that includes a financial advisor, CPA, and possibly a tax attorney. They highlight the importance of finding the right professionals who are attentive and aligned with your financial needs and goals.

In the end, they ponder the appropriate costs and thresholds for hiring a financial advisor and share personal anecdotes about their experiences with financial planning.

#financialadvisor #wealthmanagement #investmentstrategy #moneymanagement #assetmanagement #taxplanning #financialgoals #smartinvesting #financialfreedom #taxmitigation

---

Hosted on Acast. See acast.com/privacy for more information.