One of the smartest financial moves that individuals, families, and business owners can make is to learn what strategies are being utilized by people who are wealthier than they are. In doing so, they can evaluate if they are in a position to benefit by adopting these same habits and best practices.

On the fourth installment of Planning Wisdom of the Super Rich, Devang and Ryan explore a particular best practice, utilized by extremely affluent families and business owners, known as stress testing. This essential process ultimately helps ensure your current wealth management plan aligns with your personal and professional goals. 

So sit back, relax, and enjoy another enlightening episode that highlights one of the most beneficial strategies you can use within your wealth planning toolkit.

Timecodes:

00:06 – Overview on today’s topic

02:06 – The stress testing process and how you can benefit from it

04:06 – Stress testing isn’t only reserved for the super-rich

05:49 – The benefits of stress tests for those with less wealth than the super-rich

06:35 – Examples of the elements uncovered within a stress test

09:00 – Oftentimes, people aren’t expecting to see the stress test uncover such significant issues

10:30 – The bottom-line of the stress testing process

Connect with Devang Patel:

Virtus Wealth Solutions

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