In this episode of Grow Your Business & Grow Your Wealth, Gary Heldt speaks with Eli Mizrahi, President of Pacific Group Advisors and a seasoned fiduciary with over 40 years of experience in financial planning. Eli shares his personal journey into the world of finance, inspired by his parents' retirement challenges, and the lessons he's learned helping families navigate complex financial decisions. He provides valuable insights on retirement planning, investment strategies, wealth preservation, and long-term care solutions.  

Key Takeaways:

→ The importance of starting financial planning early, regardless of age or income. 

→ Common mistakes people make in retirement planning include not having a plan, not considering long-term care, and not preparing for contingencies like taxes and market downturns. 

→ Strategies for retirement planning include maximizing tax-advantaged accounts like 401(k)s and IRAs, considering insurance options with living benefits, and diversifying investments to protect against market volatility. 

→ Long-term care planning is crucial, with 7 out of 10 people likely needing some form of care in their lifetime. Options like specially structured universal life insurance can provide living benefits for care needs. 

→ Social Security planning is essential, including understanding when to start collecting benefits to maximize your income.  

Quotes from Eli

→ "Retirement is when you have more income than expenses, if you can get there young, great." → "Most people spend more time planning a two-week vacation than they spend on preparing for a 20-30 year retirement."  

More from Eli Mizrahi:

Eli Mizrahi, President of Pacific Group Advisors, is a seasoned fiduciary with over four decades of experience in financial and estate planning. Inspired by personal experiences with his parents' retirement challenges, Eli is dedicated to helping families make informed financial decisions. His expertise spans retirement and income planning, investment strategies, wealth preservation, and long-term care solutions. 

Connect with Eli: (27) Eli Mizrahi | LinkedIn

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