Wealth Without Bay Street 153: Financial Planning In The Second 50 Years of Your Life with Kathleen Adams. Kathleen encourages people to consider new opportunities and purpose for the Second 50 years of life and not waste wisdom or wealth. Kathleen believes vitality is important and that people should strive to not become low-hanging fruit for gravity, continuing to be vital, active, and in service to others. Her view on wealth is that it is more than just money and that people should strive to have a good cash flow to support their lifestyle after their business income stops.
WHO’S THE GUEST? Kathleen Adams, CFP, CPWA, entrepreneur, co-founder of Second 50 Financial, LLC, and author of soon-to-be released “Second 50: Achieve Financial Confidence/ Increase Opportunity/Leverage Vitality.” She has been in the Lifestyle Preservation business for over 20 years, and together with her team, has developed a unique process to address the expanded needs of successful owners and entrepreneurs who are enjoying a wonderful lifestyle that requires a different type of plan.
—----------------DISCLAIMER—--------------- The information contained herein is for general educational and informational purposes only. It is not intended as personalized investment, tax, legal, or other advice. We do not provide any tax or legal advice. You should consult with your independent investment, legal, tax, and/or other professionals with respect to your individual situation and needs before considering taking any action.
IN THIS EPISODE, YOU WILL LEARN: 00:00 00:31 Different types of conversation to improve your way of life 2:08 Kathleen’s inspiration to focus on Second 50 4:57 Benefits of seeking help from Second 50 7:19 Exploring the benefits of connecting with younger generations 10:24 Reverse mentoring for boomers and younger generations 13:02 Optimum mindsets for financial planning 15:21 Intergenerational financial planning and lifelong learning 17:52 Thoughts on Becoming Your Own Banker and Rethinking Your Thinking 19:49 Lessons that leaders can learn from her book: Financial Confidence, Opportunity, and Vitality 25:19 Creating deeper conversation to inspire the boomer generation to create more value to the world 26:18 Being a hero
QUOTES
I've worked hard to accumulate wealth in my business or whatever it is that my profession helped me to achieve. But wealth is about so much more than just money. Stop worrying about maximizing growth and start thinking about income and wealth preservation. Don't waste your wisdom and your wealth.
