Are You Financially Negligent? With Jay Gabrani
WOW! What a great conversation about money! I know how much my life changed when I opened my first savings account (at 30 years old!) and it’s so critical to have important conversations about financial preparedness. Jay Gabrani talks openly and in a straightforward manner about the importance of being prepared. We talked about:
- What would you do if_____________? (your spouse died, you lost your job, there was a recession etc.)
- Are you talking about money with the important people in your life?
- Are your money habits healthy enough to be passed down to your children?
- What is your belief about money? Is it great? Evil?
- Do you have a will? Does anyone know where it is?
- Preparedness is an act of delayed gratification.
- Is your future self (and those your care about) taken care of?
- Open a savings account and transfer a portion of your pay to it before you do anything else with your pay.
- Check out Jay’s website and download his C.A.P. approach to being prepared.
- Now that you know the importance of financial preparedness it is negligent for you to go forward without making better choices.
- This is free (start with conversations and creating a plan), easy (you can write down everything you own, put it in a place where your executor knows where it is – doesn’t have to be fancy, just legible) and it’s loving, (take care of the people you care about)
After Jay Gabrani's first child was born in 2005, Jay jumped into the world of real estate investing. Overcoming many challenges, he built a seven-figure real estate portfolio. That portfolio helped him take a multi-year sabbatical to deal with heartbreaking personal tragedy when his wife passed away in 2014.
Before his wife passed away, Jay thought he was financially prepared. After going through the experience of being the executor of his wife's estate, he realized he wasn't.
My challenge to you this week...
Revise as needed and don’t wait until disaster strikes.
You can listen to the full episode here: