HCI Webinar: How to Think Differently about Your Money, the Economy, and Your Future, with Mark Will

In the latest HCI Webinar, Dr. Jonathan H. Westover talks with Mark Willis about how to think differently about your money, the economy, and your future. Below is a summary of the main points from their conversation! Check out the full episode and let us know what you think!

Watch the episode here:

Financial Planning Strategies

Jonathan and Mark discussed financial planning, with Mark sharing his experience and approach. Mark emphasized tax-efficient solutions and working with clients seeking control over their portfolios. He also highlighted his use of debt as a wealth accumulation strategy. The conversation covered the uncertainties and challenges faced by individuals and organizations, with Jonathan emphasizing the need for strategic planning to navigate through uncertain times. They agreed that financial volatility is constant, and strategic planning can help mitigate the adverse effects of economic disruptions. Mark also used an analogy of downhill mountain biking to describe the financial life of most people, highlighting the impact of market fluctuations during both working years and retirement.

Portfolio Strategy: Life Insurance vs Bonds

Mark and Jonathan discussed the strategy of replacing bonds in a portfolio with cash value life insurance to increase yield, decrease volatility, and improve the likelihood of a successful retirement. Jonathan confirmed his experience with this approach during the 2008 financial crisis. The conversation emphasized the importance of liquidity and diversification in investment and business management. They also highlighted the role of non-correlated assets in protecting against market downturns.

Uncertain Economy and Investment Strategies

Jonathan and Mark discuss the uncertain economy and the shifting nature of the workplace. They emphasize the importance of understanding what clients want their money to do for them, such as growing predictably, having low fees, tax-free access, and being a source of collateral. They also mention that savings rate is more important than rate of return, and one way to increase savings is to increase it by one percentage per quarter. Jonathan encourages everyone to think carefully about their investment strategies, both for their individual, family, and home lives.

Listen to the webinar here: