In this episode of the Millionaire Mindcast, we have an amazing conversation with Katherine Liola who shares her approach to life, how to build wealth, making an impact to the family and the community, and how to achieve financial freedom!

Katherine Liola is a Keynote Speaker, Author, a Certified Financial Planner Professional, Founder & CEO of Concentric Private Wealth. She has always believed that comprehensive financial planning is a key element to a long term success. She learned early on that helping clients understand why they’re making the decisions they make, and aligning their investment strategies with values-based life choices, helps them achieve their financial goals with comfort and clarity.

Katherine has a passion to effect positive change in how we think and act about money, mindset, and health. She shares this passion through her weekly Financial Fitness planning tips and her monthly Financial Five video series as well as her speaking engagements.

When talking about wealth, it’s important to not talking with money. But there’s nothing wrong with money. It’s fine if you want much of it because you can define wealth in a lot of different ways.

Oldest of 5 children, Katherine growing up with the money. She works in finance as her way through college. To Katherine, wealth is more defined by the mindset and the experiences by how her family raised her. She didn’t have a paradox of choice when she was growing up. Sometimes she couldn’t have anything. If they want something, they need to figure out how to have it. She came into the financial service industry with her own views of wealth by not having money growing up.

Katherine became an expert in financial planning and services space and very intentional in building wealth and unlocking a rich life. She designs a plan and approach to uncover what’s really to customers to be wealthy. Teaching them how to actually invest in themselves, how to explore, knowing what’s most important for them, what they are seeking, and where are they going.

Moreover, Katherine meets their clients where they’re at and get to know them. Allowing the clients to be who they’re and securing them that they are very much a partner, allowing themselves to be vulnerable and open up some time to define them their own meaning of financial independence and not set by society. Katherine makes sure that people feel safe so that they can now begin to explore as they want to live their best and be financially independent.

Katherine is creating impacts around money and her family. She doesn’t let herself controlled by fear instead of focusing on the positive stuff. She believes that if you’re pursuing your best life, you’re going to make tons of mistakes along the way. She makes a point of not recognizing the responsibilities of being parents. You need to be there for your children, for their safety, nourishment, and figure it out how to support them.

On the other side, she emphasizes on start living naturally as opposed to just the pursuit of building wealth. This will make things a little bit complicated unintentionally. Instead, find out that happy medium in your life and what you deserved with your money, time, and investment. Do things that are important to you other than your family, and business. Have a structure to set around to keep you going, it might be the physical activity, taking a day off and doing things that you love, and so forth that will let you continue your journey without sucking up.

Some Questions I Ask:

Tell us a little bit more about what is Concentric Private Wealth, your business, and what you do? (01:41)
How do you guys approach people who wanted to be wealthy or grow their income and wealth? (04:11)
How have you seen this definition of wealth evolved over your career? (10:38)
What’s that happy medium when it comes to building wealth and making the right decision? (17:40)
How much does the consumer really needs to know and take ownership over versus trust, delegate, and handoff? (23:54)
How did you find the balance in your life despite all the responsibilities and commitments you have? (35:43)

In This Episode, You Will Learn:

An effective leap towards financial independence and best life. (06:43)
The role of financial planner versus a financial manager. (12:01)
Keys on choosing the right financial advisor. (20:45)
The importance of reading every document given to you and asking questions to your financial advisor. (25:25)
The power of delegation. (27:11)
Why Katherine hates the word BALANCE and how she plays with it. (36:06)
Living naturally versus living in just building wealth. (40:40)

Quotes:

“I came into this industry with my own views of wealth.”
“Performance is very key.”
“There’s nothing wrong with money.”
“Making sure that we have control of our life is important but also putting ourselves in a position where we cannot being controlled.”
“Wealth is multilayers complex.”
“Really focus on what makes you special, what is your depth.”
“Most things can be delegated.”
“If we’re pursuing our best life, we’re going to make a ton of mistakes along the way.”
“There are competing interests all the time.”
“My self has been there as well as times.”
“Something will always suffer when you’re all in for something.”
“We are wired, we are habitual beings because we’re human beings.”
“Sometimes you’ve just got to hear the truth from someone else because you have to give yourself a face to hear the truth.”