It often takes years of hard work and dedication to a career before individuals cultivate a notable level of wealth for themselves and their family. Once they have achieved this wealth, the biggest concern shifts to keeping it and establishing a lasting legacy for generations to come.

In the second episode of “Planning Wisdom of the Super Rich,” Devang and Ryan highlight strategies used to protect and secure wealth once it’s been obtained. Bringing a wealth of financial experience to the table, Devang is accustomed to walking clients through wealth retention strategies and identifying mistakes to avoid.

Sit back, relax, and enjoy allow Devang to showcase what these mistakes are and the steps you should consider now to avoid making them yourself.

Timecodes:

00:30 – Overview on the show and what listeners can expect in future episodes

02:08 – Why it makes sense for homeowners to do a financial checkup on their homes

03:31 – The five most prevalent mistakes that affluent families are making

04:15 – The issues with not having enough liability insurance

05:38 – How Devang is able to tell if a client has a lack of adequate coverage

06:22 – The big insurance pitfalls to avoid

07:50 – The importance of listing any LLC’s on your homeowner’s insurance policy

09:45 – What affluent homeowners are doing to address their unique construction or architecture

11:34 – How these affluent people are insuring their collections and ‘stuff’

13:15 – What those with multiple homes should be considering when it comes to insurance

14:18 – What Devang’s team can do to help those that require additional coverage

15:09 – Closing remarks 

Connect with Devang Patel:

Virtus Wealth Solutions

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