Generational Wealth – The WIN Podcast

The Clampett Connection (Ep. 35)

By The-WIN-Podcast | August 22, 2023

Sudden wealth can have a profound impact on our financial decisions and overall well-being, regardless of whether it comes as an inheritance or other unexpected windfall.

What should we do to properly manage unexpected wealth?

In this episode, Corey Heimensen delves on sudden wealth, specifically inheritance, using the Beverly Hillbillies show as an example and how it can influence financial decisions. He touches on the concept of lifestyle inflation and the importance of seeking professional advice when dealing with sudden wealth.

Corey discusses:

The recurring issue of the debt ceiling and how it can cause panic among individuals
Inheritance as an example of sudden wealth and how it can affect individuals and their financial decisions
Statistics on the average amount of inheritance received and how people spend it
How some people are afraid to spend or invest their inheritance and how to approach the situation
The concept of lifestyle inflation and how it can affect people’s spending habits
How people may spend lavishly on things without considering the consequences
The importance of having a professional team of advisors
The importance of setting restrictions/safety nets on investments or inheritance to keep people on the right path, and how professionals can help with this
Why having financial literacy in banking, credit cards, and bill payments is essential for long-term success
And more!

Resources:

“Stop Doing Dumb Things With Your Money” – by Corey Heimensen

Connect with Corey Heimensen:

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Financial Fouls – Exploring Topics Related to Finance and the NBA (Ep. 29)

By The-WIN-Podcast | May 30, 2023

As the NBA finals are approaching, have you ever thought about the amount of money the players make? Yes, a lot.

But despite earning millions, are they financially responsible? What mistake do they make with their money?

In this episode, Corey Heimensen chats about how NBA players handle their personal finances, sharing important lessons that can be applied to anyone’s spending habits. He emphasizes the impact of nepotism and the importance of incorporating positive habits for future generations to learn from.

Corey discusses:

How finances can be related to any topic
The topic of whether professional athletes make too much money
The minimum and average salaries of NBA players and the value they bring to their companies
The importance of discipline in spending and how it applies to every individual with any level of income
Positive and negative stories about the spending habits of some NBA players
Why nepotism, done in the right way, it can be a good thing
The advantages and disadvantages of nepotism in business and how it can affect generational wealth
How our kids learn from our habits and the importance of being a good role model
And more!