COVID Getting You Down? You Need A Midlife Gap Year
Money Tree Investing
Money Tree Investing Podcast
4.6 • 658 Ratings
🗓️ 21 January 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
So many people have midlife crisis, and COVID has not helped. You might need a break...
This week we interview Lisette Smith about the idea of taking a midlife gap year. College students take a gap year, why can't adults take one too. While this can take some planning, it can provide so many benefits to you and your family.
Today's Panelists:
- Kirk Chisholm | Innovative Wealth
- Barbara Friedberg | Barbara Friedberg Personal Finance
- Megan Gorman | The Wealth Intersection
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Transcript
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| 0:00.0 | Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks, invest in your life. |
| 0:10.9 | Hello, Smart Money Tree podcast listeners. Welcome to this week's show. My name's Kirk Chisholm, |
| 0:15.4 | and I will be your host. So today, we're talking with Lizette Smith. How you doing today, Lizette? |
| 0:21.3 | I am doing great, Kirk. Thank you. Awesome. Well, today we're going to be talking about the mid-gap year, |
| 0:27.6 | or mid-life gap year, I should say. It's an interesting concept that Lizette brought to me. I really |
| 0:32.3 | wanted to bring it out because I think it really brings in this concept of how to make your lives better, |
| 0:36.7 | which doesn't always revolve around money, but I think it's really in this concept of how to make your lives better, which doesn't always |
| 0:37.7 | revolve around money, but I think it's really important to think about how we can improve |
| 0:43.2 | our lives in different aspects. So Lizette, tell us all about your background. |
| 0:47.9 | So I have really been in the wealth advisory field, my whole career. I got my CFP now about 30 years ago, time flies. |
| 0:57.3 | And I started out at kind of an old school Boston family office managing generational wealth. |
| 1:02.9 | But then a partner and I started an independent firm doing fiduciary, the only advice to individuals, business owners. I think as anyone who has |
| 1:14.1 | started and grown a business knows it was really gratifying and really intense to have my own |
| 1:21.2 | practice and kind of build a business. And I did that for about 10 years. And then, as we'll talk about a little bit more, you know, |
| 1:29.4 | in my early 40s kind of started thinking about, is there something else I want to do more? |
| 1:34.2 | You know, this is all I've ever done. And I ended up selling that business, which gave a little |
| 1:39.6 | financial breathing room to think about next steps and then kind of regrouped and did some family things, |
| 1:46.9 | gave back a little bit, we became foster parents. And then ended up going back to school to |
| 1:53.2 | learn negotiation and mediation. Harvard has a really good negotiation program that I went |
| 1:58.7 | through and then kind of started a different business |
| 2:01.4 | mediating partnerships. My partner and I ended up working mostly with advisory firms, |
| 2:07.9 | wealth advisory firms. So I kind of came full circle as I was advising advisory firms and |
... |
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