Gen One Legacy

Having all your eggs in one basket might make you rich—until it doesn't. This week, we’ll dive into the risks of concentrated investing. You know, Warren Buffett's strategy of focusing investments on big bets is legendary, yet he also champions diversification for the average investor. Why the mixed advice? Because while concentrated investing can yield big rewards, it also carries signi...

When you hear "estate planning," you might think of grand mansions, legal jargon, and hefty inheritances. But estate planning isn't just for the wealthy—it's essential for anyone who wants to protect their assets, ensure their wishes are followed, and care for their loved ones after they're gone. In this episode, we'll break down the basics of creating an effective es...

How can you tell that you’re buying the right kind of insurance? It’s one thing to know how much coverage you need, and another to know which policy to buy. But fortunately, you now have the power to choose and manage your insurance coverage with just a few clicks, making it easier than ever to protect your financial future. That’s why in today’s episode, I explore the critical role of insurance i...

Have you ever felt the urge to splurge after a financial windfall? Maybe it was after landing a six-figure job or when your startup went public. This week, we explore the temptation to showcase your success, drawing parallels with stories like Mike Tyson's. Despite earning over $400 million, Tyson's extravagant spending led to bankruptcy. As a first-gen high earner, it's easy to wan...

Having too much of a good thing can leave you worse off than when you started. The same is true for putting all your extra savings in a Roth IRA. This is especially true if you plan to retire early, start a business or invest in rental properties. That’s why this week, I’m discussing the pitfalls of over-optimizing for tax-efficiency at the expense of future liquidity and what you can do to avoid...

Cash is king. And missing out on an opportunity because your money's tied up in illiquid savings, or having to sell assets at an inopportune time to cover a large expense can be costly.  That's why, in today's episode, I discuss why a cash management strategy is a step beyond an emergency fund. I'll also share the approach I've taken to crafting a solid cash management str...

I didn't know, what I didn't know. Going to college was the best investment I ever made. But, being the first in my family to go to college left me making a lot of poor choices. That's why, in today's episode, I discuss some of the mistakes that I made when I borrowed to pay for college. I'll also share the approach I'm taking now to save for my kids' education a...

"If only I had kept going a little more…" Now, have you ever been on the verge of a breakthrough but stepped back because of a setback?  It’s like investing—when the markets shake, it’s easier to think about quitting rather than sticking it out. That’s why today’s episode is about sticking to your plan, not panicking, and why a disciplined investment strategy is essential for long-term s...

“Why did I even hire them in the first place...” Have you ever hired someone for help around the house, only to immediately regret it? I know I have. That’s why this week I’m sharing my experience of hiring helpers who didn't quite live up to their promises and left me feeling more frustrated than relieved. You know, many of us have hired help with the hope of buying back our time. But when t...

“I should have done something about it sooner.”   Have you ever poured your heart and soul into a professional pursuit only to see it unravel before your eyes?    You're not alone.    If you're betting on stock options, RSUs, or your 401k to build your legacy, then come with me as we explore the highs of potential paydays and the lows of unexpected Black Swan events and Murphy's Law...

"How do I want to be remembered?" is a question that haunts us all, yet often goes unspoken.  That’s why in this week’s episode, I’m treading into the topic of legacy and the stories we leave behind.    Join me as I explore how to write your own story, aligning daily actions with your deepest values, and overcoming internal and external distractions that derail legacy-building.    I’ll t...

Are you feeling uneasy with the recent stock market selloff?  You're certainly not alone.  After a surprisingly robust start to the year, the latest downturn can feel all too familiar, mirroring the intense market swings we've faced over recent years.  In this episode, I’ll take you through the emotional journey of investing during these uncertain times.  We'll revisit the S&P 5...

Have you ever experienced the fleeting thrill of spending a windfall only to face regret once the excitement fades?  You're not alone.  Many of us have felt the sting of impulsive spending after receiving unexpected sums, like a tax refund, bonus, or even a lottery win.  This episode delves into the psychological and emotional rollercoaster that often accompanies financial windfalls.  We&apos...

Ever been hit with the shock of realizing you made a costly mistake on your tax return? You wouldn’t be the first. In fact, the IRS flagged nearly 17 million mathematical errors on 2022's tax returns. But the errors weren’t just about owing more; many were about missing out. Imagine being one of the 1.5 million taxpayers who left a collective $1.5 billion unclaimed. In this episode, we'r...

Ever find yourself stretched thin between paychecks or grappling with the anxiety of unexpected expenses?   You're not alone.   In this episode, we're unraveling the complexities of cash flow management and its undeniable impact on your financial health.   More specifically, we're diving deep into the strategies that can transform your approach to managing your money, shifting from...

In this episode we’ll cover the nitty-gritty of what your employer’s stock really means for you. Are you sitting on a goldmine, or is it time to cash out?  Whether you’re building wealth for the next generation, eyeing that sweet spot of financial freedom, or just trying to make sense of your stock options, we’ve got you covered.  We’ll dive into practical ways to assess the value of your company...

"Taxes are the price we pay for a civilized society." This often repeated quote is carved into the entrance of the IRS's national headquarters building in Washington, D.C. And it serves as a reminder that we all need to pay our fair share to maintain one of the highest standards of living in the world. At the same time, however, growing your family's wealth from one generation...

Some say that the family that plays together stays together. And the simple reason this saying holds true is because unstructured time well-spent together creates stronger social and emotional ties within the family unit. You're literally bonding together. Now, when it comes to talking about money, some families find the opposite to be true. That's because discussions around money often...

Is educating your children, grandchildren, or other important individuals in your life a priority? Well, for many of us, the answer might be a resounding "yes." And so, you've likely thought of ways to support the learning efforts of your loved ones, including funding their education expenses. Now, when it comes to setting aside money for education expenses, you might think of tradi...

Tax season is now well underway, and most returns are due by April 15. Are you ready? Well, if you struggle with getting your returns filed, or simply don't know where to start, then we've got you covered this year. That's because the secret to a stress-free tax season involves staying organized before you sit down to prepare your returns and by starting sooner rather than later. In...

Am I saving enough for retirement? Now, no matter where you are in your savings journey, the answer to this question is crucial to securing your long-term financial independence and legacy-building goals. The trouble is that some individuals often focus on a savings number instead of a lifestyle outcome. In fact, some will tell you that all you need to do is save up six times your salary by the ti...

In this landmark episode of Gen One Legacy , formerly known as The FI Mastery Podcast, host Peter Donisanu unveils a transformative shift in the podcast’s mission and name to more accurately reflect its renewed vision. Today, we're embarking on a journey not just toward financial independence but toward creating enduring legacies that will benefit generations to come. Peter shares his persona...

Stock-based compensation can transform your life when it’s managed wisely. Indeed, if you're a tech professional, then you likely know how receiving stock awards isn't just a perk, it's your gateway to building generational wealth and securing your family's financial future for decades to come. With that said, however, too many well-intentioned individuals choose to give their...

Each New Year brings with it some form of change, especially when it comes to taxes.  But let's face it: with so much going on at the start of the year, who has time to keep up with all the tax changes, right?   Well, fortunately, I’ve been keeping an eye on some of the tax developments coming down the pike this year, so you don't have to.   And what did I find?   Well, beyond the usual...

So, you've finally decided to launch that new business startup in 2024.  Congratulations!   There's no better time than the New Year to finally get that great idea that you've been thinking about for so long launched up and off the ground.   In fact, starting and growing your own business is one of the fastest ways to achieving financial independence and building generational wealth...