Join us on Average Joe Finances as our guest Freddie Rappina, a retired police officer turned wealth advisor, discusses his journey from Long Island to Virginia and now Florida, and shares insights into wealth building strategies. He emphasizes the difference between 'checkers' and 'chess' approaches to personal finance, the importance of having an evidence-based mindset, leveraging debt for wealth creation, understanding compound interest limitations, and the critical role of taxes and a robust financial team in achieving financial success.
In this episode:
*Discover the importance of transitioning from basic financial strategies ("checkers") to more advanced tactics ("chess") in wealth management.
*Understand how leveraging debt can be a powerful tool, but only when used judiciously.
*Learn the significance of tailoring investment strategies to individual needs.
*Grasp the concept of building a reliable team to support your financial journey.
*And so much more!
Key Moments:
00:03:17 Freddie's Background and Passion
00:06:14 From Police Officer to Wealth Advisor
00:07:45 The Checkers and Chess Analogy
00:12:57 The Role of Debt in Building Wealth
00:19:40 Navigating the Real Estate Market
00:20:20 Home Ownership vs. Investment Properties
00:21:14 The Risks of Leverage
00:23:06 Preparing for Market Changes
00:24:24 Investment Strategies and Risk Tolerance
00:28:04 The Importance of a Good Property Manager
00:29:08 Getting Started in Real Estate Investing
00:29:21 Checkers vs. Chess in Financial Planning
00:31:49 Lessons Learned and Advice for New Investors
00:36:12 Final Thoughts and Resources
Find Freddie Rappina on:
Websites:
https://freddierappina.com/
https://playingthewealthgame.com/
https://www.optafinancial.com/
LinkedIn: https://www.linkedin.com/in/freddie-rappina/
Average Joe Finances®
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About Mike: https://mikecavaggioni.com
About Tawnya: https://www.themoneylifecoach.com/
Show Notes add-on continued here: https://averagejoefinances.com/show-notes/
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See our full episode transcripts here: https://podcast.averagejoefinances.com/episodes
