All the Hacks: Money, Points & Life How High Net Worth Individuals Invest and a Deep Dive on Alternative Assets
80 snips
Nov 16, 2022 
Tad Fallows, co-founder of Long Angle, reveals the unique financial habits of high-net-worth individuals and dispels common myths about their investment practices. He discusses the shift towards alternative assets, emphasizing investing in art and real estate while showcasing innovative strategies like renting part of a home. Tad also covers the importance of self-management in wealth decisions and contrasts renting versus buying in today's market. Listeners gain valuable insights into the evolving investment landscape and effective approaches for managing wealth.
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Umbrella Insurance Advice
- Consider getting umbrella insurance, especially in states like California where lawsuits can exceed typical coverage.
- Umbrella insurance protects against high-value lawsuits for incidents like car accidents.
Hire a CPA
- Hire a CPA for taxes; it's generally cost-effective, even for high earners.
- A CPA can provide valuable insights beyond tax filing, influencing financial decision-making.
Shift in Investment Strategy
- The shift towards real estate and alternative assets from public equities was both market-driven and intentional amongst Long Angle members.
- Changing economic environments, like low interest rates, made real estate a more appealing investment.
