Mike, Treasury, Madison discussed on Madison Wealth

Automatic TRANSCRIPT

What we're looking at to read through, you know, quite a quite a long list of fifty two week, lows out there, talking about the treasury curve talked about investors looking at yield opportunities out there talked about some alternative investments with respect to principal protection just completely completely jam-packed. And what I think it does. Mike is, I think it shows where we're going what we're bringing clients with respect to the new family office model that we're going to be launching within the next several weeks at Madison, and it all comes down to team, the days of the general practitioner are over absolute nobody can can take this fire hose of information all day every day and be able to disseminate in the correct way. That's what we need all these people on our team that bring their own specialty. In expertise, to the group, where we then can share with the client base, and we've always been asking clients. What else are you looking for? What else do you want from us? And it was years ago. They want us to write a series of books on different topics from retirement account distributions to estate planning to maximizing social security understanding Medicare, all of these good things. And they said, let's take it a step further. We, we don't want this disjointed experience or Mike. I come see you on Monday. I go see my tax professional on Tuesday. I have to drive across town on Wednesday to see my legal person on Friday. I gotta go see my home and auto insurance person. And what we did was. Let's take this disjointed model in throw it away. Let's bring all of those different services in house. One stop shopping, and the reason that it is going to be so effective, and has been for the ultra hyper wealthy, is it takes way, the excuse. News. I just I haven't had time to go. See everybody. Mike right now when I bring all of these professionals under one roof, there's no more excuses. More importantly, having your different team finance tax legal insurance being able to communicate to each other about your family's plan goals objectives. That's how you get correct execution. That's how you avoid things getting lost version. That's where you get the, the plan that has been drafted by all of these professionals. It actually is executed. Mike. You just you just nailed it. And you brought up so many great examples when he looked back a couple of weeks of again individuals who had the means. Right. And just never executed on plan. It right. People who had estates in the hundreds of millions of dollars. They had access to the best and brightest and they still didn't execute their plans. And what that did is it caused millions of dollars in legal fees. It costs strife amongst a family that is already in distress when a family member dies. It makes there's infighting amongst heirs who have not been communicated to as to what is going to happen when the patriarch or the matriarch passes away, you're not having a multi generational conversations, and that's where it has to start. But you but you need all of those facets communicating with each other, and then with the family unit, so that it's very clear what the next step is. Let's talk about. That's again, let's bring it back. Now, let's talk about an you did a great job with this. I believe it was last the last time we were on air with respect to how do you think, though is listening, right? Our listeners should begin the process of getting up to speed with respect to being able to sit down with us being able to have that conversation with us as we move to family office. It's really going to depend on your demographic. Where are you at in the age cycle, the asset cycle are you retired preretirement? So as I will just use from an age perspective as you start to age from your forties to your fifties. You have to understand the nuances of all retirement account options. That would be reading the retirement fundamentals book gripe, as you start to age into retirement. You've got to make sure that you are state plan is in place. That's where he read the estate planning book..

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