Ep 111 | Why Life Insurance Is Important w/Joseph Lombardi
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
29 min
2 speakers
3 chapters
transcribed 1 month ago
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How much life insurance might you actually need and why is it more than protection?
How much life insurance is enough? And did you know it can be more than just protection? It can be an asset. In today's episode, I'm joined by Joseph Lombardi, a life insurance expert who breaks down the real value of life insurance beyond just a safety net. Whether you're wondering how much cover you actually need or how to make life insurance work for you, this conversation is not only entertaining, but packed with the insights you don't want to miss. 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. Joseph, welcome to the podcast.
I'm excited to get to know a little more of your personal story. But before we do that, tell us who you are and what you do.
I'm the owner of Ironhawk Financial. We are a nationwide financial services planning, estate planning, legacy planning firm that has about 50 agents with another 200 of them that are like brokers. And we have lawyers, accountants, CPAs, attorneys, and we specialize in using life insurance as an asset. And we specialize in long-term care planning to keep more of your assets in your pocket, not the state you live in.
Very good. I love that. So What got you into this business? And I know you were sharing with me a couple of your accolades. So share your accolades and then what got you into this and your big why.
I'll try and keep this short. I've been in this 22 years, won 27 or 29 industry awards now. I've been featured in International Business Times, Business Insider, Market Insider, The Daily Caller. I'm on the cover of plenty publications like the Top 40 Under 40 for Finance. Also, the Who's Who in Building and Construction because I work with a lot of business owners in the blue-collar field. I also have my own radio show, Money Talk with Ironhawk, five-star rated on Google, A-plus rated on the Better Business Bureau. I publish and written three books that are all on Amazon. One of them is close to being a bestseller, Being Your Own Bank. I also have written There's a Better Way Than a 401k and Long-Term Care Without Long-Term Pain.
And yeah, I basically just try and help people save money on taxes and have their money stretched so that they can enjoy their last years not worrying about money.
Yeah, so good. I was sharing with Joseph that we have not covered life insurance yet on this podcast. I'm excited to go into that topic. So why did you get into this role and what sparked your desire to build your group but also focus on long-term care?
So I was, I don't know, 11 years old. It all started. And I was doing construction with my dad. My mom left at four years old so she can do drugs and drink and live in Boca Raton and drive Mercedes and live that life. She didn't want to be a mom. She wanted an abortion before I was even born. So I'm lucky to even be here, to be honest. And so that was done. It was just me and my dad. And so he owned JV Lombardi Builders, and we were just normal. I would be checking jobs with them. Where else am I going to be? 6, 7, 8, 9, 10, 11, 12, 14, 15, 16 years old. I was with my dad. And we went to check on this mansion in Greenwich. And To make a very long story short, I took an elevator down to the basement.
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Chapters
3 chapters
1
How much life insurance might you actually need and why is it more than protection?
0:00–7:34
2
Who is Joseph Lombardi and what motivated him to focus on life and long-term care planning?
7:34–14:44
3
What personal family experiences shaped Joseph’s views on life insurance and disability coverage?
14:44–29:41
Speakers
2 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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