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If you’re building your Optimal Financial World, you’ll want to consider a stress test—for your money. It's what the super and ultra rich do frequently to help them prior to making important financial decisions that could impact their overall wealth planning strategy. What is a financial stress test, who needs it, and why is it important? In this 4th part of a 5-part series of discussions, host Vince Annable talks with renowned consultant to the super rich and private family offices, Russ Alan Prince, to help you understand key concepts that may help you to enjoy a fulfilling lifestyle as you build the financially secure future you desire.
In this episode, you'll learn:
1) What a financial stress test is and what it's designed to do. (03:05)
2) How common stress testing really is. (04:35)
3) What the different types of financial and legal stress testing are. (06:43)
4) Other matters the rich stress-test, in addition to financial and legal matters. (09:15)
5) How frequently you should take a financial stress test. (12:50)
Coming up on the 5th and final segment of this 5-part conversation with Russ Alan Prince, we’re going to finish our series of discussions by talking about Elite Wealth Planning, how it’s different from traditional wealth management and what makes an Elite Wealth Planner…elite!
We encourage anyone who is considering any changes or upgrades to their wealth management strategy to take a financial stress test. Ultra and super wealthy individuals with their own private family offices benefit from periodic financial stress tests, but you don’t need to be ultra or super rich to take advantage of it. Simply click over to VFOAG.com and complete the short form at the bottom of the page to request your stress test, and we’ll contact you to set everything up so that you can take the test in the comfort of your home, or office, or wherever you are absolutely free of charge. You’ll also get immediate access to the free white paper entitled your Optimal Financial World, and as a special bonus you’ll also receive access to the digital flip book on Virtual Family Offices by Russ Alan Prince and John Bowen Jr.—also titled, “Your Optimal Financial World.” Again, for your free financial stress test and instant access to both our white paper and the book, Your Optimal Financial World--with our compliments--visit VFOAG.com.
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As residential real estate continues to hold its own throughout the pandemic-drive recession, what about commercial real estate? As an investor should you consider adding this alternative investment right now as a diversifier in your portfolio? Who better to ask than a nearly 40-year expert in the sector? On this segment of Your Money Manual, host Vince Annable welcomes William A. Shopoff, founder and CEO of Shopoff Realty Investments to discuss the current state of commercial real estate and the future prospects for the sector.
On this episode of Your Money Manual, you'll learn:
1. Why investors should consider adding non-residential real estate into their portfolio mix when there's so much uncertainty about the economy. (03:18)
2. What it means to repurpose land and reposition assets and why that's advantageous to investors. (06:22)
3. With the pandemic creating some greater economic challenges for everyone including a number of retailers that were already on the bubble, how Mr. Shopoff's perception of retail and shopping center property as an investment has changed. (08:56)
4. The overall prospects for the commercial real estate sector looking forward. (13:30)
If you’d like to learn more about wealth planning for the 2020’s, you may be interested in learning more about The Household Endowment Model. If so, you can order a copy of Vince’s book, The Household Endowment Model—Wealth Planning for Affluent Families. Just click over to themusa.net, that’s https://themusa.net. Or you can click over to AMAZON.COM, and type The Household Endowment Model in the search bar to go directly to our book page. You can also request a copy of our newly updated THEM white paper which you can find along with our other white papers at http://thehouseholdendowmentmodel.com. Of course, if you’d like to sit down to discuss your financial goals and how you can work toward building your optimal financial world, give us a call at (833)THEM-USA.
Look for the video version of Your Money Manual--now available on YouTube. As always, you can hear our audio podcast on many of your favorite services including Spotify, Google Podcasts, I-Heart Radio and Apple Podcasts available on iTunes. So please give us your rating and a review. Your Money Manual is presented by Wealth Strategies Advisory Group, and we invite to follow us on Facebook, Linkedin, Twitter and Instagram. See you next time!
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In the part 3 of our a 5-part series on building Your Optimal Financial World, Vince Annable and Russ Alan Prince continue their conversation about the Virtual Family Office (VFO) and discuss the benefits of VFO's to the average wealthy investor. Remember, compared to the traditional single family office of the past, individual investors or families no longer need a minimum of $150 million to qualify for such a high level of service. Virtual Family Offices (VFO's) are springing up all over the country to help investors of "average wealth" better manage their wealth and essential strategic financial decisions.
Vince Annable is the CEO of Wealth Strategies Advisory Group and Creator and CEO of The Household Endowment Model®, while Russ Alan Prince is a consultant to the Super Rich, family offices, and select fast-tracking entrepreneurs, in addition to being the author or co-author of over 60 books including the latest release, Everyone Wins! On this episode of Your Money Manual with Vince Annable, you'll learn:
1) A review of the differences between a VFO and traditional single and multi-family offices (Timestamp 02:44)
2) Why more successful and wealthy investors are turning to VFO’s for their wealth management needs (Timestamp 05:53)
3) How stress testing works and why it’s useful in determining if an investor may be well suited for a VFO (Timestamp 09:11)
4) About the biggest obstacles for successful and wealthy individuals in setting up a VFO (Timestamp 13:42)
5) What it means for everyone involved in a VFO to win, and why it’s important that everyone does win (Timestamp 16:26)
Coming up on the 4th installment of this 5-part conversation with Russ Alan Prince, Vince Annable will go into a little more detail on the stress test we talked about and exactly what that entails, and more importantly, what it reveals about your existing wealth management plan.
Russ and co-author John Bowen Jr. have been kind enough to make available a great book entitled Your Optimal Financial World—How Driven Entrepreneurs Can Benefit from High Performing Virtual Family Offices. You don’t need to own a business to benefit from info it contains. The digital flip-book version is available for immediate download at no cost or obligation simply be visiting VFOAG.com. Just complete the short form at the bottom of that page with just your name and email address and you’ll get instant access to that book as well our free quick-read Your Optimal Financial World white paper. On top of that, we’ll also provide you with the financial stress test we talked about at no cost or obligation to help you make sure your wealth management strategy is on the right track toward achieving all that’s important to you. Once again, for the free white paper and Russ’s book, Your Optimal Financial World and the free stress test, visit VFOAG.com.
Your Money Manual is brought to you by Wealth Strategies Advisory Group and is now available on video! We invite you to subscribe to our Wealth Strategies Advisory Group channel on YouTube so that you’ll be alerted whenever a new episode is posted. You can also listen to our audio podcast on all of the popular services including Spotify, Pandora, i-Heart Radio and Apple Podcasts available on iTunes, where we would appreciate your rating and review.
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About the show
"Your Money Manual with Vince Annable" is a program developed to share information about concepts and strategies used by high net worth individuals to preserve, protect and grow their assets through all market cycles. Vince Annable--the host--is the creator of The Household Endowment Model® and CEO of Wealth Strategies Advisory Group. Give us about 15 minutes--we truly hope you learn something! After all, as we like to say, "When it comes to investing, your money doesn't come with instructions."