Episode 7

Published on:

28th Oct 2021

Big Wealth Mistakes the Super Rich Don't Make

The bad financial decisions you avoid can be just as important as the good financial moves you make. And while no one is perfect, highly successful people and families tend to avoid major slip ups.

In the latest installment of Modern Wealth Management, Darrick and Ryan explore some wealth-destroying mistakes that high successful people do a good job of sidestepping.

This episode is packed with great tips and is sure to leave you taking a page from the playbook of the super rich!


0:03 - Overview on the topic of the episode

1:52 - Does the average individual take measures to avoid costly mistakes?

3:15 - There are opportunities to learn lessons from the wealth planning strategies of the super rich

5:02 - The grass isn't always greener on the other side

8:12 - Clearly define your goals and stay on the proper track to achieve them

11:34 - Hire the best professionals to support your goals

16:00 - The characteristics of consummate professionals and those that will propel you forward

19:14 - Utilizing second opinions and stress tests to ensure you're plan is on track

23:00 - The difference between a second opinion and a stress test

25:02 - How someone can get in touch with Darrick's team to discuss this topic further

27:04 - Why we study the super rich

28:10 - Closing remarks

Connect with Darrick and Ray:




Show artwork for Modern Wealth Management

About the Podcast

Modern Wealth Management
A Practical, Process-Driven Approach to Wealth Management
Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success.

Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management.

So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.