Growing up is hard, especially in today's day and age. But when you add financial challenges, like the transfer of significant wealth from an older generation to their heirs, life can become overwhelming for today's youth.
On the latest episode of Advance Your Wealth, we sit down with Barry Garapedian, the visionary Founder & CEO of Mag 7 Consulting, a boutique coaching, mentoring, and advisory firm tailored specifically for high-school and college-aged students. In this conversation, Barry shares the remarkable journey of MAG 7 and how it has become a beacon for young individuals seeking to unlock their full potential.
Barry sheds light on the importance of mentorship and coaching during the crucial formative years. Gain insights into the methodologies employed by MAG 7 Consulting to nurture skills, foster resilience, and instill a mindset of success in the next generation.
0:06 - Introduction and overview on the topic of the episode
1:03 - The importance of long-term wealth planning within families
3:05 - Welcoming Barry Garapedian to the show!
3:55 - Barry's career pivot from wealth management to Mag 7 Consulting
6:41 - The greatest challenges facing today's youth
9:22 - Kids growing up in a wealth environment and the importance of instilling financial wisdom
12:37 - How Mag 7 actually works with today's youth
16:00 - Teaching clients the power of a handwritten note
17:45 - The responses Barry receives from parents of his clients
19:52 - The difference between an expectation and an agreement
23:50 - The 7 self-development lessons you never learned in school
26:48 - How to learn more about the work Barry does for clients through Mag 7 Consulting