Pacific Capital's Podcast Playlist

662 - Living Intentionally Through Your Finances with Pacific Capital's Chad Willardson 

Chad Willardson is the founder and President of PACIFIC CAPITAL, a fiduciary wealth advisory firm in California Elected City Treasurer, managing a $350 million investment portfolio for the taxpayers Co-Owner of the Draft Sports Complex Married, Father of five kids Featured in: The Wall Street Journal, Forbes, Inc., U.S. News & World Report, Entrepreneur Magazine, NBC News, Yahoo News, Financial Advisor Magazine, CA Business Journal Author of Amazon #1 Best-Seller "Stress Free Money": Overcome These 7 Obstacles to Find Financial Freedom.

In this episode of Financial Planning for Canadian Business Owners, Jason Pereira, award–winning financial planner, university lecturer, and writer, interviews Chad Willardson, President and Founder of Pacific Capital and best–selling author of Stress–Free Money. Chad is here to talk about how childhood perception of money can affect your money mindset for the rest of your life and how to get around those perceptions!

Episode Highlights:

• 0:59 – Chad Willardson introduces himself and his profession.
• 2:25 – How does Chad start the conversation about early–life money perceptions?
• 3:40 – Jason and Chad break down the psychological barriers of spending money.
• 6:17 – What prohibitory mindsets around money does Chad usually run into?
• 10:09 – Jason and Chad discuss the negative effects of having a scarcity mindset.
• 11:11 – What successful discussions has Chad had to help his clients move away from a scarcity mindset?
• 12:15 – Jason and Chad break down the failures of education systems around the world.
• 13:18 – Are there commonalities amongst the people that Chad can’t get through to?
• 15:49 – How often does Chad see prohibitory money mindsets passed down to kids?
• 19:33 – Chad shares the key lessons from his upcoming book, Smart Not Spoiled.
• 21:54 – What would Chad tell those who are looking to move past a scarcity mindset?

3 Key Points

1. Money perceptions that are passed on from parent to child determine the mindset that people have for their entire lives.
2. Chad often sees a misconception of risk where people are either extremely aggressive and risky or are so scared of taking any risk that they can’t move their money out of the bank.
3. By demonstrating what people can do based on their current financial situation, Chad helps his clients move away from a scarcity mindset.

Tweetable Quotes:

• “If a muscle gets flexed long enough, it’s going to cramp and actually it’s harder to loosen up because of that.” – Jason Pereira
• “There’s a real lack of understanding of the randomness of the world in general.” – Jason Pereira
• “It’s a tragedy to me that kids graduate high school knowing how to dissect a frog or knowing all the inner parts of a cell but having no clue about personal finance.” – Chad Willardson
• “You need to actually trust the process and trust the plan and the strategy that you’ve got. That should weigh more than the fear or the scarcity emotions that you’re feeling because that’s going to hold you back from success.” – Chad Willardson

Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• FintechImpact.co – Website for Fintech Impact
• jasonpereira.ca – Jason Pereira’s Website
• Stress–Free Money – Chad Willardson’s Best–Selling Book
• Pacificcapital.com – Website for Pacific Capital
• LinkedIn – Chad Willardson’s LinkedIn

Transcript

Hosted on Acast. See acast.com/privacy for more information.

What are your images of retirement? How do you picture yourself enjoying your hard-earned freedom? It’ll take savvy holistic planning to achieve your vision. It starts with holistic financial planning, but it includes planning for the non-financial aspects as well. Trusted advisors can be valuable assets in your holistic planning for retirement.

Our guest is Chad Willardson, President, and Founder of Pacific Capital.  I talk with Chad about his observations on retirement planning and:

Chad joins us from Southern California.

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Chad Willardson is the President and Founder of Pacific Capital and is a Certified Financial Fiduciary®, Accredited Wealth Management Advisor and Chartered Retirement Planning Counselor. Before founding Pacific Capital, he spent 9 years at Merrill Lynch, where he ranked in the top 2% of over 16,000 Financial Advisors nationally. Chad is the author of the Best Selling Book: Stress Free Money: Overcome These Seven Obstacles to Find Financial Freedom. Chad is passionate about financial education and believes that with the right tools and resources, people can be empowered to make smart money decisions. He loves to help people organize their financial life, clarify their goals, and make decisions that lead them to a successful and fulfilling life. A native of Orange County, CA, Chad and his wife of 17 years live in Corona, CA with their five children.

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On Purpose & Meaning in Retirement

“People who are successful in retirement have a lot of meaning and purpose. They don’t just stop cold turkey. Most of them have other ideas or pursuits, whether it’s hobbies, businesses, charitable giving, charitable time, and spending time with their grandchildren in a productive way. I feel like the people who actually retire to something rather than retire from something are much more successful. It’s one thing to say, I’m going to stop work at age 60. It’s another thing to say between age 60 and 70 here are my 10 big goals or the big things on my bucket list that I really want to focus on. And I’ve seen people really, really thrive after they stopped their primary career and even explore new opportunities that they never thought they could do, like starting a business with a grandson or learning how to do something new, like getting into cycling or getting into art or traveling with your family. There are so many things that I’ve seen people do in retirement. That shows me that you really need to have a game plan. It’s it could be a 10,000 days journey. And to, to just simply think, well, I don’t have to do anything anymore, you’re kind of setting yourself up for failure.”

On Priorities in Retirement

“I think people, once they get to retirement, they realize that there were a lot of things they weren’t doing often enough, like self-care and taking care of their health. I’ve seen many people just work themselves so hard, work so many hours, with so much extra stress, that they’re finally able to really take better care of themselves. And relax and do things that are more fulfilling than doing something just for a paycheck. It’s definitely on the unfortunate side, but I think the healthcare costs are typically a negative surprise. It costs more than they expect on the positive side. And I feel like people are busier than they would ever have dreamed of. My parents, when I talk to them, they have a full schedule. And to me it’s sometimes it’s like Well, how do you have a full schedule? You’re totally retired. But when you go through their activity list on their calendar, they’ve got so many things that they’ve planned and committed. And they’re excited about that. They’re just doing a lot more than they ever thought they would.”

On An Exit Strategy for Entrepreneurs

“I think entrepreneurs often assume that there’ll be able to work until they are done and just easily decide and pick up and leave. But most entrepreneurs actually don’t make it to that point. There could be many reasons. It could be something that happens in their industry. If you look at COVID, many businesses have adjusted or had to be closed because of the extended restrictions on the ability to stay open. So there are a lot of things that people just don’t realize it’s not as cut and dry when your paycheck depends on you. So you’ve got to really have a plan, not only for your business and your business succession or your exit strategy but also personally, when you’re going to stop working and begin to live a retired lifestyle if you will, it’s a lot of different things to plan for. If you’re an entrepreneur, I’d say my advice for those crafting an exit strategy is to engage with professionals who have helped others transition before. So there’s no reason to try to do everything by yourself, definitely work with a team of professionals who’ve helped other people execute their own exit strategies, because there are a lot of things you don’t think of –  especially if it’s your first time selling a business or retiring. There’s going to be a lot of things that come up that you just hadn’t prepared for. And if you can seek great professional counsel beforehand, you’ll have more of a sense and you’ll have more confidence as you’re making those big decisions.”

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For More on Chad Willardson

Pacific Capital

Stress Free Money: Overcome These Seven Obstacles to Find Financial Freedom

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Podcast Episodes You May Like

When Will You Flip the Switch? – Dr. Barbara O’Neill

What Are The Keys To A Successful Retirement? Fritz Gilbert

What’s Your Exit Strategy? – Ashley Micciche

Are You Ready to Follow Your Own Path in Retirement? – Bob Lowry

If You Love Your Work, What Challenges Will You Face in Retirement? – Michelle Pannor Silver

Who Will You Be in Retirement? – David Ekerdt

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About Retirement Wisdom

We help people who are retiring, but not done yet, discover what’s next.

A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident.

We help you design the life and/or the second career you want.

Schedule a call today to discuss how we can help you.

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Explore retirementwisdom.com

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The views and opinions expressed by guests on The Retirement Wisdom Podcast are those of the guests and do not necessarily reflect the policy or position of the host or Retirement Wisdom, LLC. The Retirement Wisdom Podcast covers the non-financial aspects of retirement. From time to time we may invite guests who discuss other aspects of retirement planning, solely for educational purposes. Listeners are advised to consult qualified financial and/or medical professionals on those matters.

The Don’t Quit Podcast takes a look at how professionals work and how you can learn from them.

This episode features Chad Willardson. He’s passionate about financial education and believes with the right tools and resources, people can be empowered to make smart money decisions. Chad is the author of the book, Stress Free Money: Overcome the 7 obstacles to Find Financial Freedom. He loves to help people organize their financial life, clarify their goals, and make decisions that lead them to a successful and fulfilling life.

Go to http://www.goalsconversation.com and schedule a free conversation to share your important goals and priorities and let’s see how we can help you reach them!

Website: http://www.goalsconversation.com/

Stress-Free Money: Overcome These Seven Obstacles to Find Financial Freedom

https://www.amazon.com/Stress-Free-Money-Overcome-Obstacles-Financial/dp/1544516746

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Thank you for listening!

Chad is an elected city treasurer and small business owner; he works as a financial fiduciary. As the city treasurer, he manages a 360MM investment account. He discusses his investment mindset for both his personal and city investments, including having a long-term approach. Chad also shares what to look for when hiring a financial advisor.

To learn more about Chad - https://www.pacificcapital.com/chad-willardson-3/

Chad Willardson is the President and Founder of Pacific Capital and is a Certified Financial Fiduciary, Accredited Wealth Management Advisor and Chartered Retirement Planning Counselor. Before founding Pacific Capital, he spent 9 years at Merrill Lynch, where he ranked in the top 2% of over 16,000 Financial Advisors nationally. Chad is passionate about financial education and believes that with the right tools and resources, people can be empowered to make smart money decisions. He loves to help people organize their financial life, clarify their goals, and make decisions that lead them to a successful and fulfilling life.

5% of Americans are constantly stressed about money. Chad's trademarked Financial Life Inspection helps people identify their complete financial landscape (healthcare, real estate, insurance, investments, etc.) and helps them identify their goals behind their financial strategy. Chad is here today to help you identify your goals and find a WHY for your financial plan.

Connect with Chad:

• PacificCapital.com
• LinkedIn
• Check out his new book Stress-Free Money: Overcome These Seven Obstacles to Find Financial Freedom

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