The Best Financial Advice I Have Ever Been Given

What's the best financial advice you've ever received? Financial advisor Xavier Angel joins Dr. Matt Morris, LPC, LMFT, and Erik Garcia, CFP® to share golden nuggets of financial wisdom in this episode of the Building Us podcast. Episode Highlights: Xavier shares the best advice he has ever been given. (3:03) Xavier explains what generational wealth is. (3:41) Xavier discusses savings goals. (5:18) Xavier shares a story about a conversation with his oldest daughter, several years ago. (12:50) Xavier mentions the importance of proper planning. (25:27) Xavier shares why a mortgage is something that people really have to think about. (34:18) Xavier gives his closing thoughts on the best financial advice. (43:16) Key Quotes: “I want my children to be in a better position than what I'm in today. And, that's why we have to make sure we're saving and we don't buy those big purchases.” - Xavier Angel “How much you save is going to depend on the individual. Not everyone is going to be able to save 25%, and give 25%, and live off of 50%. But, I think putting together that strategy or building a plan while leaving something behind… that's where you start.” - Xavier Angel “We need to teach our children that as they save, teach them what compound interest is. Because, what they're putting away today, whether it's $2 or $5. Today, here's what it could potentially grow to when they're 60 or 65 years old. And that's going to be how we start that generational wealth... by teaching our children at an early age.” - Xavier Angel Resources Mentioned: Xavier Angel, ChFC, CLTC, LinkedIn Angel Wealth Strategies, LLC Erik Garcia, CFP® Dr. Matt Morris, LPC, LMFT Garcia Financial Group Matt Morris & Associates