How High Net Worth Individuals Invest and a Deep Dive on Alternative Assets

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 16 November 2022

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

#87: Tad Fallows, co-Founder of Long Angle, joins Chris to discuss the misconceptions of how high net worth investors spend and manage their money, whether they hire wealth managers and tax accountants, and how they might invest differently than conventional financial advice. They also do a deep dive on alternative assets and share their favorite house-buying hacks. Tad Fallows (@LongAngleHNW) is co-founder of Long Angle, a private online community of highly successful young entrepreneurs and executives. He also cofounded iLab Solutions LLC, a global leader in cloud-based laboratory management software, which Agilent Technologies acquired in 2016. Full show notes at: https://allthehacks.com/long-angle-tad-fallows Partner Deals goodr: Free shipping on $25 stylish and comfortable sunglasses Rocket Money: Easily cancel your unused subscriptions Fabric: Affordable term life insurance for you and your family Masterworks: Up to $200 in free shares + VIP access to skip the waitlist Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth Selected Links From The Episode Connect with Tad Fallows: Twitter | LinkedIn | Email Long Angle Website 2022 Portfolio Allocation Benchmarking Study fatFIRE subreddit Full Show Notes Introduction to Tad Fallows (00:00) The common misconception of how high-net-worth people spend and manage their money (01:49) How Long Angle, the global community for high-net-worth investors, was founded (03:01) What Tad has learned by talking to Long Angle members (05:21) Current (and potentially future) information available from the group (08:46) Hiring wealth managers and tax accountants (11:03) Benchmarking surveys (15:50) Trends regarding homeownership among the Long Angle group members (18:37) Why renting isn’t the worst thing in the world (20:45) Being aware of the economic environment when investing (22:39) Purchasing a home that has long been on the market, rebating commission, and other house-buying hacks (27:24) Cash allocation and how the rich are investing differently than conventional financial advice (35:39) How the Long Angle communities invest in equities (more indices or individual stocks) (41:29) Characteristics of alternative investments (44:34) How the less liquidity of alternatives can be good and bad (46:16) The different classes of alternative investments (50:25) How to evaluate different alternative investments and who’s eligible to purchase them (63:13) What to for when deciding on an investment platform (1:08:08) How to find out more about Long Angle (1:16:53) Connect with All the Hacks All the Hacks: Newsletter | Website | Facebook | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Transcript

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0:00.0	Hello, and welcome to another episode of All the Hacks, a show about upgrading your
0:06.4	life, money, and travel.
0:08.5	I'm your host Chris Hutchins, and each week I sit down with the world's best experts
0:12.4	to learn the strategies, tactics, and frameworks that shape their success.
0:16.1	Now one of the things about money that I've always been fascinated by is how wealthy people
0:20.2	manage their finances and invest their money.
0:23.2	And thanks to today's guests, I've been able to peek behind the curtain.
0:26.7	I'm talking with Tad Fowlos, who's become an expert on the topic since co-founding
0:31.3	Long Angle, an online community for high net worth investors.
0:35.1	It all started when his company was acquired in 2016, and he and his co-founder were abruptly
0:40.3	confronted with a bunch of personal finance questions.
0:43.2	So they created Long Angle, which is grown to become a diverse group of a thousand members
0:47.8	and offers a private online community where people can discuss a wide variety of issues
0:52.8	from asset allocation to taxes, philanthropy, insurance, raising kids, and more.
0:58.5	The community has no membership fees, no advertising, and no selling a member data.
1:03.0	I wanted to invite Tad to join me to shed some light on the money and investment habits
1:07.7	of wealthy investors by walking through the 2022 Long Angle Portfolio Benchmarking Survey
1:13.1	that he's releasing today, to break down the mysterious world of alternative assets,
1:18.7	and teach you about some of the assets you might never have considered.
1:21.6	Also, to share some of our favorite real estate and home buying hacks, and a lot more.
1:26.4	So let's get started after this.
1:28.4	Hey everybody, in my conversation with Tad, we talk a lot about alternative assets,
	...

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