In this episode, Andrew Biggs speaks with financial advisor T.J. Van Gerven about practical wealth-building strategies for millennials. Topics include the FIRE (Financial Independence, Retire Early) model, equity compensation, real estate vs. stock market investing, and financial planning for married couples. T.J. also shares advice on planning sabbaticals and achieving a fulfilling life through intentional decision-making.
00:00:00 - Introduction to Building Wealth Through Equity Compensation
00:00:38 - Welcome to the Better Than Rich Show
00:00:41 - Meet T.J. Van Gerven: Financial Advisor for Millennials
00:01:01 - Why Millennials Need Unique Financial Planning Approaches
00:01:25 - Breaking Down FIRE: Financial Independence, Retire Early
00:02:44 - The Benefits of Starting Financial Planning Early
00:05:39 - Big Picture Strategies for Financial Success
00:12:49 - Real Estate vs. Stock Market: Choosing the Right Investment
00:16:20 - Financial Planning Tips for Married Couples
00:19:09 - How to Maximize Equity Compensation for Wealth Building
00:21:14 - Tax-Saving Strategies: Long-Term Capital Gains and AMT
00:21:49 - Managing Stock Options and Restricted Stock Wisely
00:22:22 - Diversification: Avoiding Risk by Spreading Investments
00:24:06 - Planning for Sabbaticals and Life's Bucket List Goals
00:26:27 - Should You Use Life Insurance as a Financial Strategy?
00:30:16 - Smart Investment Principles and Avoiding Market Speculation
00:33:23 - Understanding Compound Interest and Preventing Loss
00:34:42 - Final Thoughts: Key Takeaways for Building a Fulfilling Life
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