Today I’m here with Ali Katz who helped me with some of my own financial planning, and more importantly, the financial planning side related to my kids and guardianship. There is a lot more that goes into this than I had realized. And she’s here today to talk about family financial planning and building generational wealth, which you can do at any income level.
In our conversation, we talk briefly about how she got her start in a law firm in California that was started by Charlie Munger and why she shifted away from that. And then we go deep on things like what happens if something happens to you, important steps to put in place, and figuring out guardianship and financial assets for your kids, what to know about life insurance, and who to name as beneficiary. She shares why we shouldn’t rely on social security for retirement and what to do instead, what generational wealth is and how to plan for it, her concept of financial liberation, and how to set your family up for success even if you aren’t wealthy. She is a tremendous wealth of information and she shares a lot of resources and information.
Episode Highlights With Ali Katz
- About the regenerative community she is helping build in Costa Rica
- How she got her start in a law firm in California started by Charlie Munger
- The important things to think about from legal and financial perspectives, especially when you have kids!
- Why it is so important to name guardians for your kids in case something happens and how to do it the right way
- Important steps to put in place when figuring out guardianship and financial assets for your kids
- What to know about life insurance and who to name as beneficiary (hint: not your kids)
- The importance of a revocable living trust for your kids
- Why not to rely on social security for retirement
- What generational wealth is and how to plan for it
- Her concept of Financial Liberation and how to set your family up for success (and you don’t need to be wealthy to do it)
- Why to stop the traditional quest for “financial freedom” as it is typically explained for retirement
- Separating wants from needs in financial planning
- The systems to put in place for your family to make sure they are taken care of
Resources We Mention
- Her book: Wear Clean Underwear
- The Little Soul and the Sun by Neale Donald Walsch
- Conversations with God by Neale Donald Walsch
- The Fifth Sacred Thing by Starhawk
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