I Had Million Dollar Businesses and Still Felt Broke | Ali Katz

welcome 124 trillion dollars is transferring from one generation to the next right now if we don't grow up around it and see that it's not just a billionaire issue it's an us issue half of that money is in our hands and in our parents hands and it's time for us to step up so that we don't lose the resources that we have access to now to build the thriving future that we all want that's what this podcast is about If we don't take action around these resources, our share of the $62 trillion, we're going to lose it.

And the baby boomers, maybe your parents, they're turning 80 this year and Once they become incapacitated, once they can't make decisions, it's too late to be in the conversation.

And the conversation could take some time to happen.

And your growing up process could take some time to happen.

And so these conversations, they have to start before it's too late or we lose what's ours to care costs.

to court costs, to confusion, to chaos.

Something happens.

It's too late at that point.

The resources are gone.

And your family is probably losing right now somewhere between $10,000 and $100,000 a year overpaying in taxes that you don't need to be paying, but you are just because you don't know.

You probably don't even think that this impacts you because you think, I'm not rich.

Or your parents might be saying to you, or you might be thinking about your parents, they're not rich.

I'm not inheriting anything.

They're not gonna leave me anything.

Well, I inherited $50,000 from my father at the right time and it changed my life.

So whether you're inheriting $50,000, $500,000, $5 million, these are a lot of resources.

and you might think that you're not rich because you don't have millions of dollars in the bank but the reality is is that your resources can grow and they will grow over time in fact what i found is that most people with between 1 and 30 million dollars don't think they're rich it's money dysmorphia and money dysmorphia is the distorted view that we have of our financial reality that causes us to sacrifice our non-renewable resources, time, energy, attention, relationships, and health in service to money, thinking we have to get more money, we have to get more money because we're not rich yet, when the reality is we could be taking care of what we already have right now and growing it.

You may not be thinking about it because you think you're not rich.

You think your parents are not rich or maybe they are rich and they think, oh, you think they've got it taken care of.

They've already got it handled or their guy has it handled or you're not going to really be able to get into conversation with them because they don't want to talk about it.

But this is exactly how the wealth leaks out.

of the middle class and we are the middle class right 1 to 30 million in wealth which by the way is rich so let's start with that big issue with when we think we're not rich we don't take care of what we have as if we're rich and then we're just losing it paying more in taxes than we need to be paying, getting the wrong kind of insurance, the wrong type of insurance because we're just getting insurance sold to us instead of going out and buying what we actually need, not having the right financial systems in place, worrying about how much we have, waking up in the middle of the night instead of having systems, rhythms, flows, systems and structures to be looking at what we have, getting stuck in conflict, getting stuck in court, all because we don't think that we're rich.

Even if we're inheriting $50,000, certainly $500,000, definitely $5 million, right? That's rich.

I inherited $50,000 from my dad when I was 30.

It was a life changer for me to get $50,000 from my dad to be able to invest in my business, change the game.