Wealth Insights with Mitch Silberman

Welcome to Wealth Insights with Mitch Silberman: Strategies for Pursuing an Amazing Life of Significance. This show is dedicated to enlightening conversations surrounding financial planning strategies that may help you on your path to an amazing life of significance. Our show features the President & CEO of Silberman Wealth Strategies, Inc., Mitch Silberman, who brings three decades worth of financial planning experience to the show. Mitch grew up as a successful child actor in the 1970's, appearing in commercials and movies, as well as episodes of Bewitched, Gunsmoke, The F.B.I., and the Mod Squad. However, due to the lack of a strategic wealth plan, his childhood earnings were not invested. As a result, a once sizable bank account dissipated. Since then, Mitch has devoted his financial services career to helping people implement smart investment planning strategies and avoiding the mistakes from his past.Each episode will cover a new wealth management topic that Mitch encounters regularly while running his business. Listen as Mitch shares stories and insights highlighting a wide-variety of financial topics that may help with your own portfolio. Thanks again for joining us and we hope you enjoy the conversations to come!

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Wealth Insights with Mitch Silberman

Wealth Insights With Mitch Silberman - Episode 4 (Preparing Heirs for Their Inheritance)

November 08, 2021 • Mitch Silberman • Episode 4

Are your heirs ready to deal with the wealth you will pass onto them one day?

In the latest installment of Wealth Insights With Mitch Silberman, Mitch and Ryan address this question and explore both the internal and external issues that arise during this wealth transfer process.

It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be harmful to the overall wealth. A family needs proper planning and clear communication to alleviate any potential issues that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards.

So sit back, relax, and enjoy another thought-provoking conversation!

Timecodes:

0:24 - Overview on the topic of the episode
2:16 - Why inheritances can be viewed as a double-edged sword
4:10 - The internal and external issues that arise during this process
6:07 - Addressing the gap in wealth education among heirs
7:27 - What successful families are doing in terms of educating their kids on this process
9:15 - How to start these wealth education efforts
11:15 - An approach that often resonates better among heirs these days
13:33 - Conversations surrounding charitable giving within a wealth plan
15:54 - These wealth education efforts should be practiced by everyone
17:40 - Who families should look to for help with this process
18:35 - How someone can get in touch with Mitch's team to continue this conversation
20:21 - Closing remarks

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