In this episode, Jamie Hopkins, CEO of Bryn Mawr Capital Management and bestselling author, shares how people can better prepare for retirement, including the end stages of their life. Many people have not started the estate planning process, let alone finished it; estimates of up-to-date estate planning in this country are at about 25 percent. This impacts people’s end-of-life care in addition to their assets and legacy.
“It doesn’t have to be a scary topic,” Jamie reminds us.
When it comes to estate planning, it’s an emotional process. People need help with this journey rather than just being sold to.
So, what can be done to help facilitate the conversation? Jamie encourages advisors to introduce estate planning to their clients and create or use content to inform them. When it comes to digital assets, including passwords, people need to understand where assets are being held and what the account information is.
Jamie also delves into issues millennials are currently dealing with, including buying a home. Home affordability has gone down, but that’s also because the amenities in current homes are greater than those of past generations. He notes that Americans are the wealthiest on average that we ever have been.
To encourage more financial planning and better financial preparedness, Jamie encourages high schools and other groups to bring in financial planning specialists that can influence children to make good financial decisions as they mature.
As the president of FinServ Foundation, Jamie is taking steps to help encourage more people, particularly women and minorities, to join financial services and become successful. FinServ developed a two-year coaching track and a six month mentor program.
Looking ahead, Jamie envisions a future where FinServ’s reach expands tenfold, empowering thousands of students annually. Alongside this ambitious goal, he offers a glimpse into his next big project—a collaborative book with Bonnie Treichel, diving deep into the nuances of retirement planning.
Despite his passion and drive to become a leading advisor, Jamie acknowledges the importance of striking a balance between professional aspirations and personal well-being. As we conclude this episode, he shares insights on how he maintains balance in a demanding and ever-evolving financial industry. His story serves as a reminder for all ambitious individuals: while striving to uplift others, don’t forget to invest in yourself.
Connect with us below!
Comments