Shownotes
Curious how the uber-rich protect their wealth?
If you knew the secrets of ultra-high-net-worth individuals (UHNWIs), could you leverage their approach to money management to grow your own wealth?
Tim Volk, CFP, is Founder and Principal at T. Volk & Company Consulting, a boutique financial advisory firm that serves ultra-high-net-worth families. He also hosts The
Rainbow Bull Podcast.
On this episode of Queer Money, Tim joins us to share the secrets of the uber-rich, describing what UHNWIs do to transfer and mitigate risk.
Tim explains how the uber-rich think about money in the long-term and challenges the LGBTQ+ community to adopt a future-self approach to spending.
Listen in for insight on raising kids who don’t feel entitled and learn what you can do to join the ranks of the emerging affluent or uber-rich.
Topics Covered
- How wealth managers define ultra-high-net-worth individuals
- What we can learn about the complexities of wealth from Crazy Rich Asians
- The differences between families of UHNWI and the LGBTQ+ community
- Why the queer community isn’t saving enough for retirement
- How Tim helps the emerging affluent manage capital through a family office
- How ultra-high-net-worth families transfer and mitigate risk
- Why Tim suggests choosing a life insurance policy with long-term care benefits
- How celebrities and the uber-rich aren’t immune to lifestyle creep
- What we can do to avoid raising entitled kids at any socio-economic status
- Tim’s future self approach to thinking about money in the long-term
- The lasting impact of a financially empowered gay community
- Tim’s advice on what you and I can do to become ultra-high-net-worth
- Tim’s challenge to focus on spending to bring joy to yourself and others
- How to deal with the dating dynamics of financial inequality
- Why it’s crucial for the LGBTQ+ community to stick together
For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe
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