Success has many different faces. For some, it can be buying their second vacation home or ranch. For others, it could be something as simple as having the financial freedom to be able to spend more time with their families. Whatever financial success looks like to you, it is certainly something that you don’t want to recede.

How do you define your success and ensure you stay focused on the right things so you don't go backward? We discuss why success is made up of a number of factors unique to each of us and how money enables us to continue to direct our time, energy, and attention to the areas where we get the most value.

In our conversation, we discuss:

• How to define your success and get specific on what creates meaning for you
• What role finances play in enabling your lifestyle
• Why the barbell portfolio approach suits most advisors and how it is different from traditional asset management
• Specifics on private real estate, venture capital, and equity options as strategies

Unlock the ways to ensure financial success by tuning in to this podcast today!

Resource Links:

• Atomic Habits by James Clear (https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299)

What’s Discussed in This Episode:

1. Financial success defined [03:25]
2. • Your habits determine your success [05:48]
   • Your primary focus helps you understand what success means to you [07:00]
   • Success can be different between people [08:18]
   • Goals are meant to be refined [14:08]
   • How you perceive your goals affects how you perceive success [14:47]
3. Handling the feeling of lack of consistency in terms of success [12:05]
   • Have a plan before the periods of abundance [16:34]
   • Identifying other sources of income [18:48]
   • The barbell portfolio: Business equity and cash [20:20]
4. Ways to ensure financial success doesn’t recede [16:08]
   • Real estate: Principal equity value and cash flow [23:01]
   • Venture capital: A high-risk, high-reward asset class [25:32]
   • • Backing a founder is not a viable investment strategy [29:00]
   • Equity options: Regular financial disruptions and the value of diversification [32:48]
5. Three typical asset classes and the barbell portfolio [21:55]

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