#87: Tad Fallows, co-Founder of Long Angle, joins Chris to discuss the misconceptions of how high net worth investors spend and manage their money, whether they hire wealth managers and tax accountants, and how they might invest differently than conventional financial advice. They also do a deep dive on alternative assets and share their favorite house-buying hacks.
Tad Fallows (@LongAngleHNW) is co-founder of Long Angle, a private online community of highly successful young entrepreneurs and executives. He also cofounded iLab Solutions LLC, a global leader in cloud-based laboratory management software, which Agilent Technologies acquired in 2016.
goodr: Free shipping on $25 stylish and comfortable sunglasses
Rocket Money: Easily cancel your unused subscriptions
Fabric: Affordable term life insurance for you and your family
Masterworks: Up to $200 in free shares + VIP access to skip the waitlist
Selected Links From The Episode
Connect with Tad Fallows: Twitter | LinkedIn | Email
2022 Portfolio Allocation Benchmarking Study
Full Show Notes
Introduction to Tad Fallows (00:00)
The common misconception of how high-net-worth people spend and manage their money (01:49)
How Long Angle, the global community for high-net-worth investors, was founded (03:01)
What Tad has learned by talking to Long Angle members (05:21)
Current (and potentially future) information available from the group (08:46)
Hiring wealth managers and tax accountants (11:03)
Benchmarking surveys (15:50)
Trends regarding homeownership among the Long Angle group members (18:37)
Why renting isn’t the worst thing in the world (20:45)
Being aware of the economic environment when investing (22:39)
Purchasing a home that has long been on the market, rebating commission, and other house-buying hacks (27:24)
Cash allocation and how the rich are investing differently than conventional financial advice (35:39)
How the Long Angle communities invest in equities (more indices or individual stocks) (41:29)
Characteristics of alternative investments (44:34)
How the less liquidity of alternatives can be good and bad (46:16)
The different classes of alternative investments (50:25)
How to evaluate different alternative investments and who’s eligible to purchase them (63:13)
What to for when deciding on an investment platform (1:08:08)
How to find out more about Long Angle (1:16:53)
Fabric by Gerber Life is where parents come to start their families' financial lives. They make life insurance easy with new lower prices that mean significant savings over other providers, like a million dollars in coverage for less than a dollar a day. With everything online, it takes less than 10 minutes to apply, and you could be offered coverage instantly, with no health exam required.
It takes less than 10 minutes to apply and you could be offered coverage instantly, with no health exam required. To start protecting your family today with a 30-day money-back guarantee visit meetfabric.com/allthehacks
goodr makes $25 active sunglasses that don’t slip, don’t bounce, and are 100% polarized. They’re lightweight, stylish and comfortable. I love my Goodrs and have been wearing them everywhere, from running to hiking, just hanging out or watching the sunset. Also, because they’re so affordable I never worry about losing or breaking them.
To get free shipping and a 30-day money back guarantee go to allthehacks.com/goodr
Rocket Money is the new app that helps you identify and stop paying for subscriptions you don’t need, want, or simply forgot about. You can see all your unwanted subscriptions in one place, keep the ones you want and cancel the ones you don’t – right from the app. Your Rocket Money concierge is there to cancel your subscriptions, so you don't have to. No talking to humans. No difficult conversations.
Join over 2 million users who've used Rocket Money to save over $100 million and start canceling your unused subscriptions today, by going to allthehacks.com/rocketmoney
Masterworks is an alternative investing platform that gives you access to one of the most exclusive and overlooked investments in history: blue-chip art. Masterworks lets regular people invest in paintings by legends like Banksy, Basquiat and Warhol without spending millions. I've now used masterworks to invest in 14 different paintings, including a 15 million dollar Picasso.
Here’s how it works: Masterworks will buy a painting they think will appreciate well over time, then they securitize that painting with the SEC, so you can invest in it instead of buying the whole thing. Once they sell the painting, later on, you get your share of the proceeds. It’s that simple. They’ve offered over 100 paintings so far and the last their last three sales sold at 17, 21, and 33 percent net returns*.
All the Hacks has partnered with them to give you all priority access by going to allthehacks.com/masterworks
(*net returns refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important disclosures at masterworks.io/cd)
Connect with All the Hacks
All the Hacks: Newsletter | Website | Facebook | Email
Check out these top episodes
#91: Hedge fund manager and author, Bill Perkins, joins Chris to talk about what it actually means to die with zero. They discuss why you should focus on net fulfillment in each stage of life, what types of experiences to …
#46: Vanessa Van Edwards, a master of communication, joins Chris to explore the language of human social cues and what it takes to be charismatic. They also cover the impact that the four primary forms of communication (vocal...
#27: The Points Guy, Brian Kelly, joins Chris to share tons of points hacks. There are more opportunities today than ever before to earn points. In their conversation, they talk about travel in our post-pandemic world, the be...
#1: Travel pro Leigh Rowan joins Chris to discuss the travel hacks you need for your next trip, including getting the best prices on flights and hotels, having authentic local experiences and not getting ripped off changing m...
Chris is a die-hard optimizer who does all the research to get the best experience in life without the expensive price tag.