Podcast Episode #506: Stewarding Wealth, Values and Wisdom Into The Next Generations – Ted Oakley
Episode #506: Dentist Freedom Blueprint Podcast
Stewarding Wealth, Values and Wisdom Into The Next Generations – Ted Oakley
We all want to equip our kids to succeed and create a lasting legacy. The question is: how do we do that? I recently had a live conversation about this topic with Ted Oakley, Managing Partner and Founder of Oxbow Advisors. As someone who helps clients navigate the markets, plan for retirement, and steward wealth for the next generations, Ted has tremendous wisdom around building true wealth and creating a legacy worth more than just money.
Listen in as we discuss how to foster independence in young adults, when to hand over an inheritance or the family business to your children, and how to resist the temptation to help your children too much. We also discuss the most valuable skill sets in almost any career, how to test if someone is hirable, and what opportunities exist for young adults in today’s economy.
Minute Markers:
2:52 – The importance of learning to “make it” on your own.
5:36 – The dangers of debt and learning debt management along the way.
12:00 – What to focus on when dealing with high levels of debt.
14:52 – Why you have nothing to lose as a young person.
18:37 – What to think about when hiring your kids.
26:54 – The state of the economy, where it puts young people today, and where money can be made.
33:02 – How Ted recommends leveraging debt.
35:19 – The importance of having range and key skill sets to develop.
39:47 – Why decisions around education are so important for your family.
Featured on the Show:
Ted Oakley: LinkedIn
How to Get Out of Debt, Stay Out of Debt, and Live Prosperously by Jerrold Mundis
The Obstacle is the Way by Ryan Holiday
Winning Through Intimidation by Robert Ringer
Range by David Epstein
Oxbow Advisors
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P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
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2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.