Most professionals are disciplined at work—but dangerously passive with their money.

In Part 2 of this conversation, Boris Blum and I shift from career execution to financial execution. We unpack why traditional financial advice often fails high-performing professionals, how incentives distort guidance, and what it actually takes to build financial independence with clarity, liquidity, and control.

This isn’t about chasing returns.

It’s about managing risk, avoiding blind spots, and building a system that works across market cycles.

What We Cover in Part 2Why Boris Created Wealth Council

Boris explains the origin of Wealth Council after noticing a recurring disconnect: people talked about “generational wealth,” but what they actually wanted was financial independence—and they didn’t know how to define or achieve it.

He shares his definition of financial independence:

• Three non-correlated income streams
• Not tied to your primary profession

Key insight:
Most people don’t have a strategy problem. They have a literacy problem.

The Problem With Product-Driven Financial Advice

We dig into why most financial guidance is biased by incentives.

If someone sells:

• Insurance, they recommend insurance
• Funds, they recommend funds
• Real estate, they recommend real estate

Boris explains why this “hammer and nail” dynamic leaves professionals undereducated and overexposed.

Key insight:
If your advisor is on the chessboard, you’re not getting objective advice.

Liquidity: The Hidden Constraint for Professionals

We discuss why many professionals are asset-rich but cash-poor.

Most wealth is tied up in:

• Primary residences
• 401(k)s and retirement plans

Neither offers real flexibility in moments of opportunity or crisis.

Key insight:
Lack of liquidity doesn’t just increase risk—it eliminates optionality.

The 401(k) Risk Most People Ignore

Boris breaks down how modern retirement plans actually work:

• Passive, algorithmic investing
• Mandatory deployment of contributions
• Limited control over assets and timing

He explains why these systems amplify both upside and downside—and why most participants won’t see the risk until it’s too late.

Key insight:
Set-and-forget works—until it doesn’t.

Why Downside Risk Matters More Than Returns

Instead of asking “How much can I make?” Boris argues investors should ask:

• What can go wrong?
• Can this go to zero?
• How do I mitigate that risk?

This mindset shift reframes investing away from speculation and toward durability.

Key insight:
Take care of the downside, and the upside takes care of itself.

Education Over Delegation

Boris makes the case that professionals must take responsibility for their financial future—even if they work with advisors.

Education doesn’t mean doing everything yourself.
It means understanding enough to:

• Ask better questions
• Set clear expectations
• Know when something no longer makes sense

Key insight:
You can delegate execution—but not understanding.

Who Wealth Council Is For

Boris explains how Wealth Council works:

• Education-first, no products sold
• Ongoing participation and accountability
• Model portfolios for context, not copying