On the latest episode of The Get Ready Money Podcast, I spoke with Chad Holmes, Author and Owner of Formula Wealth about changing the way we think about money and creating an inheritance playbook.
In this episode we discussed:
- Proactively planning together with the next generation maximizes financial legacies (include all generations).
- Pay attention to your clients - ask them what questions do you have?
- Tailor your conversations to your clients.
- The earlier we can have conversations with our parents/partners, the better things can go.
- Hiring an advisor is an investment - the value received should exceed the investment.
- Money should not be taboo.
Connect with Chad Holmes:
Books:
- The Inheritance Playbook: Helping Your Parents Pass the Torch, Not the Tax (here)
Resources mentioned:
- Mom and Dad, we need to talk by Cameron Huddleston (Amazon)
- Putting a value on your value: Quantifying Advisor's Alpha - Vanguard Study (here)
- The Power of Compound Interest - The Get Ready Money Podcast episode (here)
Bio:
Chad Holmes, CFP®, CPA, CPWA® runs a boutique financial planning firm out of Fairhope, AL, serving families nationwide as a flat fee financial advisor (no commissions or sales products), focusing on minimizing taxes and maximizing legacies from a multigenerational perspective. As an expert in his field, his advice has been published in various outlets, including The Wall Street Journal, MarketWatch, and Yahoo Finance. Chad is both a CPA and CFP® fiduciary. His latest accomplishment is becoming a bestselling author with his new book, The Inheritance Playbook – Helping Your Parents Pass the Torch, Not the Tax.
The Get Ready Money Podcast and its guests do not provide investment advice. All content is for educational purposes. Guest opinions do not necessarily reflect the opinions of The Get Ready Money Podcast and Tony Steuer.
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