Optimizing Your Financial World - Episode 29 (A Super Rich Best Practice That Can Benefit You Too!)
One of the smartest financial moves that individuals and families can make is to learn what strategies are being used by people who are wealthier than they are. Primarily, this is done to see if they could benefit by adopting those same habits and best practices.
On the latest episode of Optimizing Your Financial World, we're discussing one extremely valuable tool that the wealthy regularly use called a stress test. This process is leveraged for seeing how well positioned, financially, you really are!
This episode is packed with some helpful takeaways for your own financial world. Let's get started!
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:40 - What is a stress test?
4:13 - Why stress testing is being used by extremely wealth people
6:00 - Stress testing isn't reserved only for very wealthy people
8:43 - There tend to be more financial opportunities uncovered during a stress test
12:12 - Why there tend to be more issues with wealth plans that aren't stress testing regularly
13:38 - Stress testing can be an eye-opening experience
14:56 - The construction company analogy
16:30 - The signs and signals you should be on the lookout for
17:30 - How to get in touch with Mark and his team
18:35 - Closing remarks
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