Typically, years of hard work and dedication to a job allows individuals to cultivate wealth for their family. Once they have it, the number one concern shifts to keeping it and establishing a lasting legacy for generations to come.
In the second installment of Advance Your Wealth, Homer and Ryan investigate strategies to protect and secure wealth. With over 18 years of industry experience, Homer is accustomed to having these conversations with clients and can identify the five major mistakes made by affluent families today.
Sit back, relax, and allow Homer to share what these mistakes are and which steps you should take now to avoid making them yourself!
00:51 - Overview on the episode
01:50 - Why it's so important to thoroughly analyze your homeowners insurance
03:25 - The five big mistakes affluent families make
05:32 - An example of conversations Homer has surrounding liability insurance
06:43 - What are some signs of simple or adequate coverage, not complete coverage?
08:03 - What are some insurance pitfalls to avoid for those owning multiple homes?
09:30 - How failing to list a trust or LLC on a homeowner's policy could lead to issues
10:33 - Where do intricate home constructions or amenities fall in the coverage conversation
12:44 - Mistakes families are making when it comes to insuring their collections and valuables
15:02 - The next steps you should be taking to protect yourself and your wealth
17:50 - Homer and his team at Konvergent Wealth Partners can help you take the next step
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