Jason Hartman talks with Richard Wilson, a family office expert, about what we can learn about investing by looking at what centimillionaires are doing. First off Richard explains what exactly a family office is, what amount of money it actually takes to be a part of one, and why you need an internal dashboard and compass in your life.
[2:21] Some of the business practices used by centimillionaires
[6:05] What a family office really is, and why it’s a thing
[10:22] The net worth you need to make a family office worthwhile
[14:08] Niche domination as a strategy
[18:08] If you don’t have a focused approach to investments, and don’t do things highly intentional, you’ll never have synergy
[20:08] You need to have a dashboard and compass as to where you want to go, and it needs to be documented
[22:40] Everything in your life and business needs to have integrity