Why do very few of today's wealthiest families trace their fortune back to the magnates of 1900, despite the high investment returns since then?
In this episode, Brian delves into wealth sustainability and financial decision-making with Victor Haghani, founder and CIO of Elm Wealth and co-author of "The Missing Billionaires: A Guide to Better Financial Decisions." He shares insights into why many fortunes don't survive across generations, highlighting the importance of smart investment strategies, risk management, and adaptable spending policies. Through an engaging conversation, listeners gain a deeper understanding of the empirical facts and strategic decisions crucial for long-term wealth preservation.
[00:01 - 06:34] The Genesis of "The Missing Billionaires"
[06:35 - 12:16] Deciphering Wealth Dissipation
[12:17 - 17:59] Risk, Return, and Spending: The Critical Triad
[18:00 - 24:14] The Cultural Aspect of Financial Decisions
[24:15 - 29:06] Future-Proofing Wealth: Strategies and Reflections
Key Quotes:
"Every author finds the motivation in feeling that there's a gap that's crying out to be filled." - Victor Haghani
"The more risk that you take, the more that you're eating into your compound returns." - Victor Haghani
Connect with Victor!
Website: www.elmwealth.com
LinkedIn: https://www.linkedin.com/in/victorhaghani
This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.
Connect with me:
https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)
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