Todd Tresidder’s background includes getting a B.A. in Economics from University of California at Davis. Todd is a member of the Economics Honors Society and Deans List and has been a serial entrepreneur since childhood building many businesses and retiring at age 35 from his position as a Hedge Fund Investment Manager responsible for a 20+ million dollar portfolio.
Todd raised his net worth from less than zero at age 23 to self-made millionaire 12 years later by “walking the talk” using the same personal finance and investment strategies taught on this web site. Todd reached financial independence at the age 35 through investing – not marketing – unlike many other financial gurus who made their money through marketing courses and books.
Main Questions Asked:
- How much money do we need to retire?
- Is there a point where it’s too late?
- What does financial coaching mean?
Key Lessons Learned:
- The default age for retirement has always been 65 but that’s beginning to change.
- Life spans are getting longer and the length of time people are retired is expanding. This means it takes way more money to support the additional years of retirement and financial independence doesn’t mean the same thing it used too.
- The new retirement involves having a career in the early stages and accumulating the capital you need for later on. The later stages in your life are focused on fulfillment.
- Most people think of retirement as a box where you save money for the first 65 years of your life and then you don’t do anything until the day you die, but that’s not the way life goes. They also tend to rely on their financial planner to create the wealth they need to survive when they retire.
- There are only three asset classes that you can viable for retirement planning and financial independence: Business entrepreneurship, direct ownership of real estate, and owning conventional paper assets. All three are acceptable, they just have different characteristics that have to match up to your needs.
- Financial planners will always try to sell you the conventional paper assets path but it’s not your only option.
- If you have a website, you should push people to your site but it depends on your goals for your content. Avoid using your Libsyn link.
- The advanced planning framework uses a different set of mathematics where you use other asset classes to build wealth.
- It’s never too late to start planning for retirement, you just need to have different strategies for different ages and skill sets.
- Almost everybody has the assumption that paper assets are the only real way to reach financial independence, they’re missing the framework they need to understand their other options.
- Everyone has a conflict of interest on your money except you. That’s why traditional financial plans don’t include non-traditional financial assets. You can delegate authority over your financial assets, but you can never delegate responsibility.
- You don’t have to do everything yourself, you just need the knowledge to make good decisions.
- Wealth is math, if you don’t put it to work for you it will work against you.
- Technology has made a number of business models possible that couldn’t have existed only 5 years ago.
- Todd was a pioneer of financial coaching in the early days of the internet. A financial coach is an educator, the goal is to make you independent of your relationship with the coach. Once you learn something and act on it, it starts to become ingrained.
- The secret to financial planning is that there is no secret. You just need the knowledge to make good decisions about your wealth.
- It’s never too late to get started planning your retirement and trying to achieve financial independence!
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Links to Resources Mentioned