Money Secrets of the Uber Rich | Queer Money Ep. 516

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Curious how the uber-rich protect their wealth?

If you knew the secrets of ultra-high-net-worth individuals (UHNWIs), could you leverage their approach to money management to grow your own wealth?

Tim Volk, CFP, is Founder and Principal at T. Volk & Company Consulting, a boutique financial advisory firm that serves ultra-high-net-worth families. He also hosts The

Rainbow Bull Podcast.

On this episode of Queer Money, Tim joins us to share the secrets of the uber-rich, describing what UHNWIs do to transfer and mitigate risk.

Tim explains how the uber-rich think about money in the long-term and challenges the LGBTQ+ community to adopt a future-self approach to spending.

Listen in for insight on raising kids who don’t feel entitled and learn what you can do to join the ranks of the emerging affluent or uber-rich.

Topics Covered

How wealth managers define ultra-high-net-worth individuals
What we can learn about the complexities of wealth from Crazy Rich Asians
The differences between families of UHNWI and the LGBTQ+ community
Why the queer community isn’t saving enough for retirement
How Tim helps the emerging affluent manage capital through a family office
How ultra-high-net-worth families transfer and mitigate risk
Why Tim suggests choosing a life insurance policy with long-term care benefits
How celebrities and the uber-rich aren’t immune to lifestyle creep
What we can do to avoid raising entitled kids at any socio-economic status
Tim’s future self approach to thinking about money in the long-term
The lasting impact of a financially empowered gay community
Tim’s advice on what you and I can do to become ultra-high-net-worth
Tim’s challenge to focus on spending to bring joy to yourself and others
How to deal with the dating dynamics of financial inequality
Why it’s crucial for the LGBTQ+ community to stick together

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe

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