The Millionaire Insider Podcast

When should you start taking Social Security? At full retirement age, or later? It's one of the most important retirement decisions you'll make. And getting it wrong could cost you thousands of dollars over your lifetime. But here's what many people don't realize: The best time to claim Social Security isn't necessarily the age that gives you the largest monthly check. Sometimes, less is more. You...

Have you ever wondered where successful people spend and save money? Some of the strategies I've learned have saved me thousands of dollars. And many of them are surprisingly simple changes you can make, too. The goal isn't to save every dollar and never enjoy your wealth. It's to spend intentionally on what matters most to you while staying on track toward your financial goals. In this week's epi...

Giving money to an adult child who asks for it can feel like the natural thing to do. You love them, you want to help, and if you have the money, you may not give helping them a second thought. But helping your children financially isn't always as simple as writing a check. The more important question is whether helping them in this way supports their future or jeopardizes your own financial secur...

In Part 2, we continue the conversation about taxes in retirement. We will explore important questions that can help you identify potential tax-related risks and opportunities before they become costly mistakes. Financial preparation for retirement is an ongoing process. Retirement and tax planning involve much more than looking at how much you owe in taxes each year. Rather, it should look at the...

Most people spend decades saving and investing for retirement. But far fewer spend enough time planning how they will withdraw that money or considering how taxes will affect what they actually keep. Poor planning can lead to costly mistakes. Many factors can affect how much you pay in taxes throughout retirement. Examples include which accounts you withdraw from, the timing of those withdrawals,...

For years, you worked hard to manage money and build your wealth. But as you approach retirement, you may realize you no longer want to spend your time managing every account, investment, tax decision, and financial detail. Building wealth and managing it in retirement are very different. As your working years end, your focus shifts from accumulation to creating retirement income, managing risk, p...

Artificial intelligence is changing how we work, research, plan, and make decisions. I use AI in my business and personal life, and it has saved me a lot of time. AI tools can help you organize information, research ideas, ask better questions, and think through your options. But AI has another side that can't be ignored. AI isn't always right. Sometimes, it gives answers that don't make sense. Un...

Wealth isn't the destination. A life you love is. And creating that life often starts with how you think. After more than 35 years of advising and researching millionaires, I have learned that wealth is rarely just about how much someone earns. Some of the highest-income people I have met struggle financially, while others quietly build significant wealth and a life they love. One of the biggest d...

Do you ever end your day exhausted, knowing you were busy all day but wondering what you actually accomplished? It is a common problem, especially for successful people. Your calendar is full, your phone is constantly demanding your attention, and there is always one more thing on your plate that needs to get done. The problem often isn't that you need more time. It is that too much of your time g...

Most of us continue to grow our online presence. From email accounts and social media to online banking, photos, passwords, and even cryptocurrency, these digital assets can become some of the most valuable or problematic elements of an estate plan. Without clear instructions and the proper legal provisions, your trustee or executor may face delays, frustration, or even be unable to access importa...

Most people spend months deciding how their beneficiaries should inherit their assets, and yet only minutes deciding who will coordinate their estate plan. This decision will have a lasting impact on your family. A trustee is responsible for carrying out your wishes and ensuring your trust is administered properly. Today, you will learn what makes a great trustee. We will also discuss options that...

Most people want to retire and enjoy their golden years. Unfortunately, too many people worry about having enough money or having to go back to work. To retire with confidence and build a secure retirement, you need a plan based on accurate information. Many people ask whether $500,000, $1 million, or even $2 million is enough to retire. But your account balance alone doesn't answer the question....

Have you ever heard someone say, 'Your self-worth determines your net worth?' After advising successful families for more than 35 years, I've learned it's not quite that simple. In this week's episode of The Millionaire Insider® Podcast, I introduce a concept I call your Worth Barometer—and why understanding it could completely change the way you think about financial success. In this episode, you...

For years, the "Die Broke" philosophy has gained popularity. The idea is simple: spend your money, enjoy retirement, and leave little or nothing behind when you die. On the surface, it sounds appealing. After all, why spend decades working and saving if you're afraid to enjoy the money you've earned? The challenge is that none of us knows how long we'll live, what healthcare costs we'll face, or w...

Have you ever dreamed about owning a cabin in the mountains, a beach house by the ocean, or simply escaping to a warmer climate? For many people approaching retirement, purchasing a second home feels like the reward for decades of hard work. A second home can create wonderful family memories, provide a future retirement destination, and even become a valuable financial asset. But without careful p...

Have you ever worried that helping your parents today might mean becoming a financial burden to your own children tomorrow? If so, you're not alone. Today's episode is for you. Many people in their 50s and 60s find themselves caught between supporting aging parents and preparing for retirement. While helping family is important, sacrificing your own financial future may create even greater challen...

While most people dream of winning the lottery or receiving an unexpected inheritance, most millionaires build their wealth by taking a different route. Their journey generally isn't magical or mind-boggling. In fact, by most standards, it's surprisingly ordinary. They simply repeat a few key habits consistently over time. Today, I'm sharing five millionaire money lessons that changed my life and...

Many people spend years focused on money, success, and achievement, only to reach their goal and realize they are not feeling as they imagined. In my three decades advising clients, I have learned that creating a richer life isn't only about money. It starts with mastering the fundamentals. The happiest, healthiest, and most fulfilled people consistently focus on a handful of daily habits and rout...

Many people believe millionaires grow their money with complicated strategies or constant investment moves. In reality, most long-term wealth is managed through clarity, consistency, and intentional decisions. After decades of advising successful individuals and retirees, one pattern becomes clear: financially secure people tend to focus less on chasing returns. Instead, they develop a coordinated...

Too often, retirement planning focuses on investments or income while ignoring how long-term care can impact your finances, independence, and family dynamics. The truth is that planning for long-term care is critical to a successful retirement. The goal is creating a coordinated retirement plan that allows greater clarity and control over future decisions. Done right, long-term care planning can h...

Last week, in Part 1, we dove into the habits and inner game of a happy retirement. Today, we are diving into the numbers. Retirement planning is not just about growing your investments or reaching a certain net worth. One of the biggest factors that affects retirement confidence is whether you understand your numbers and know how your money will support your lifestyle. Too often, individuals accu...

Money matters in retirement—but it's not the whole story. Many people spend decades focused on saving, investing, and building wealth. They believe that once they reach a certain amount of money, happiness will follow. But reality and research often show something different. Once your basic financial needs are met, happiness in retirement is driven by something deeper: your health, relationships,...

As you move closer to retirement, the financial decisions you make begin to carry more weight. What worked during your working years may no longer be enough once your paycheck stops and your assets are expected to support your lifestyle. That's why many people begin asking an important question: Should I manage my money on my own or work with a financial advisor? The answer depends on your situati...

Most people believe they have a retirement plan. When in reality, t hey have investments, a CPA, maybe an advisor, and some life insurance. On the surface, it looks good and like everything is covered. But after more than three decades of advising pre-retirees and retirees, I can tell you this: what most people have are pieces—not a cohesive plan. And when those pieces aren't working together, eve...

Many people assume the goal is to earn more money, and if you do, everything else will fall into place. Unfortunately, high income doesn't always lead to financial security or peace of mind. After more than 36 years of working with pre-retirees and retirees, I've seen this firsthand. Some of the highest earners live paycheck to paycheck, just at a higher level. And others, who may earn less, focus...