Advance Your Wealth - Stress Testing
In the inaugural episode of Advance Your Wealth With Homer Smith, Host Ryan Ruff is joined by the man-of-the-hour, private wealth advisor with Konvergent Wealth Partners, Homer Smith. Homer brings over 18 years of industry experience to the show and strives to help clients achieve their goals.
Listen as Homer and Ryan dive into the vitally important process of stress testing your personal or business finances. In order to assess the risks facing your estate or business, Homer and his team break down all of the elements contributing to your personal wealth, including saving plans, financial goals, and even retirement strategies.
Sit back, relax, and allow Homer to shed light on the importance of performing regular stress tests on your finances to mitigate potential issues and surprises!
Timecodes:
00:15 - What listeners can expect on the show moving forward
01:09 - Homer's 18 years worth of experience in the financial sector
04:10 - What is a stress test and how it can be applied to one's financial situation?
06:20 - Why is stress testing a necessary process?
07:30 - What are the three main ways a stress test can be utilized
08:21 - What prompts someone to come in and meet with Homer for a stress test
09:30 - An example of how a stress test saved Homer's client from making a mistake
11:58 - What are the keys to making sure a stress test is done well?
13:45 - The human element at play during stress tests
16:00 - The four step process conducted during Homer's stress testing efforts
19:50 - What does a stress testing appointment with Homer looks and feels like
24:00 - Where you can go to get a stress test performed on your finances
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