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One part of the wealth-building story for contractors that doesn’t get a whole lot of coverage in our modern thought-o-sphere is risk mitigation.
The affluent business person you want to become doesn’t get there SIMPLY by always making successful bets.
The part you don’t see is the huge losses they avoided.
S*** happens. So protecting the downside is actually more important than the pursuit of growth.
We’re excited to have Danielle Slavin on the show today. She is a CFA and a Senior Portfolio Manager at RBC Dominion Securities. For the last 16 years, she and her team of 6 help have helped contractors just like you preserve and prudently grow the wealth they extract from their businesses.
Today we’re going to talk about the morbid but oh-so-important ways to protect your wealth from:
- Deaths
- Divorces
- Serious Illnesses
- and a whole host of other threats
00:00 - Intro
02:19 - Why do entrepreneurs spend so little time considering risks and downsides?
10:40 - Top 5 catastrophic disruptions
21:45 - What should business owners be doing when times are good?
30:29 - What role do insurance tools play?
45:15 - Action Steps protect yourself
48:23 - How does this change for people in business partnerships?
51:42 - Advice for finding a good advisor in this area
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