Ep 109 | The Checkers and Chess of Wealth Building with Freddie Rappina
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
21 min
2 speakers
3 chapters
transcribed 1 month ago
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Transcript generated automatically by AI and may contain errors.
Why does Freddie compare conventional financial advice to playing checkers?
Ever wonder why some people seem to always be playing catch up with their finances while others are able to build lasting wealth? In today's episode, guest Freddie Rapina breaks down why most Americans are stuck in a checkers mindset with their money and how shifting to chess thinking could be your path to building real generational wealth. Tune in the episode to learn more and discover whether you're playing checkers or chess. Welcome to Wealthy After 40 where I help you turn retirement uncertainty into a clear, actionable plan. If you're thinking about retirement but feel unsure whether it's even possible, I understand. The gap between where you are now and where you want to be can feel overwhelming, but it doesn't have to.
Hi, I'm Daylene Higgins, founder of Elevate Finances and your personal financial coach. Having retired at the age of 50 and have enjoyed over two years of retirement bliss, I'm here to help you create your retirement dream and make it a reality. No more wondering, no more guessing, just taking action and building a future for yourself. Join me each week as I guide you through essential topics such as budgeting, cash flow, lifestyle planning, debt and savings, insurance, Medicare, and social security. Together, we'll build a strategy to help you achieve the retirement you've always desired. It's time to shift from uncertain to unstoppable and make your retirement dreams a reality. Are you ready to align your generosity and retirement vision for a life of true abundance?
Join Alison Patterson, generosity strategist, and myself, Dailene Higgins, financial and retirement coach for a powerful one-week Facebook event. During this event, we'll help you align your generosity with your values, whether it be time or money, and help you design a retirement with purpose that excites and fulfills you. The Facebook group opens March 3rd, so join the group, answer the questions, and you'll be approved on March 3rd, ready for a transformational experience. Search Aligned Abundance in Facebook or click the link down in the show notes. Excited to see you there. Hello, Freddie. Welcome to the podcast. Excited to chat with you today as a wealth advisor and kind of getting us to explore checkers and chess today.
So before we jump into that, introduce yourself and let us know who you are and how you got to be where you are.
Sure. My name is Freddie Rapina. I founded Opta Financial about 10 years ago. And I'm a little bit different than the typical financial planner out there because I believe that wealth building has many steps and takes many forms. And also, depending on which game you're playing, which I call either checkers or chess, will greatly determine the capability of someone to advance their lifestyle. And that's the most important part for me. A lot of people, depending on the lifestyle, it's not just like seeing a whole bunch of numbers on paper go up. It's about being able to afford, in my case, my daughter's cheerleading competitions and my son's travel baseball. Those are the things that you enjoy life.
So it's like money is just the money, but if we're not driving it, we're not building wealth, we're not building income streams, it doesn't make a whole lot of sense. And, you know, just here to help. And but I do want to shed the light on the fact that there are two different games in finance and people should understand and should be screaming at the moon. Why do the rich keep getting richer? That's because you're not playing the same game.
Yeah. When I was reading your application and you stating that, I'm like, wow, that is a perfect something to talk about and understanding that we are in different places. We're in different lanes, basically. Can you help us understand that better?
Well, you get to choose. So I want to make sure that people understand it's choice. So checkers is the very standard financial advising models, save a bunch of money in retirement accounts, pay off everything, live debt free. And hopefully one day your nest egg will be large enough so you can draw an income stream out of that that you won't outlive.
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Chapters
3 chaptersSpeakers
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