In this episode, our guest is Chad Willardson, President, and Founder of Pacific Capital. Being in the industry for a long time, Chad has cemented himself being one of the cream of the crop in the financial industry. Helping entrepreneurs and families grow their money, stress-free is what drives Chad to pursue his goal of financial excellence. He authored the book “Stress-Free Money” and today, he shares his advice on how to effectively handle your finances and live a life without worrying about your finances.
[06:20] Why should we listen to you?
I am one of the 0.01% top financial advisors in the country.
You don’t need to pay a full-time investment advisor when you are starting out but you need to meet a fiduciary advisor to create a plan. Most people go just go with the flow and that’s why they make a lot of mistakes along the way.
[10:46] sadly, most financial people you can find are driven by quick commissions and not with the goal of a fiduciary planner. They focus on what to sell on you instead of what they should do to protect your interest.
[11:29] When getting a financial advisor, you should first ask if they are a fiduciary. Fiduciary means being legally obligated to put your interest first even at the cost of them, losing money.
[12:40] You should make sure that they have clients similar to your situation so that there is something in common to work with.
[13:40] How did you become a financial advisor?
I had no idea. I went to apply on different jobs and I ended up in Merrill Lynch. I did not know anything at the beginning, I was clueless but I strived hard to learn everything, and thankfully, it all worked out.
[15:13] Aww Shift Moments
I was in charge of hundreds of millions of dollars in 2008, and it all went down by over a hundred million dollars within a year. I was taking the burden of everyone’s financial life on my shoulders and I questioned myself if this is something that I wanted to do for the rest of my life.
[16:08] Merrill Lynch was bought by the Bank of America that same year. It was a major crisis but we all pulled through it. I learned a lot, forged stronger bonds with colleagues and clients, and loyalty was built.
[16:52] Stress-Free Money
The book is for people who want financial freedom. It is all about the principles of overcoming financial obstacles and how to fight through that. It uncovers the seven main obstacles of financial freedom.
[20:29] I expect people to have a clear and practical ideas on how to get closer to financial freedom after they read the book. Financial freedom, in my opinion, is the absence of worrying about money.
[26:27] What promise did God make to the world, when He created you?
I would make an impact on the world and never be in the background.
[08:35 – 08:39] “Money is green. How you make it will not matter, it’s about what you do with when you earned it.”
[20:54 – 20:56] “Tell your money where to go otherwise it well tell you where to go.”
[22:08 – 22:16] “If you can use money for a good purpose, grow it for the benefit of your family and the people in need.”