Customizing Your Retirement Blueprint with Mark Kennedy
Mark Kennedy is a financial advisor, he is a specialist in helping you create a blueprint that will help you grow your wealth and create and preserve more wealth in retirement. He is also the founder and president of Kennedy Wealth Management LLC, a Calabasas, California-based Registered Investment Advisor founded in 2008.
Mark Kennedy is in the financial services business in some form or capacity for about the last 25 years. Back in 2000, was a kind of his wake-up call for everybody, because the markets took a really big hit. And at that point in time, they decided that they had to use safe money strategies with clients. And they found that through the years, that wasn’t really the only way that they should be helping clients. And when 2008 came around, they saw another round of people losing their life savings. And he said that they need to really take on Wealth Management ourselves in a very big way.
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Customizing Your Retirement Blueprint with Mark Kennedy
Brett:
I’m excited about our next guest. He is a financial advisor, a specialist in helping you create a blueprint that will help you grow your wealth and create and preserve more wealth in retirement. And in fact, he’s with Kennedy Wealth Management. And he’s here to share a bit about his story and how he helps his current clients create and preserve more wealth. Please welcome the show with me Mark Kennedy, Hey, Mark, how are you doing?
Mark:
Hey, good, how are you?
Brett:
Hey, better than I deserve. Nice to have you on the show. And looking forward to diving in here today. For our listeners to get to know you for the first time, would you give a little bit about your story and your current focus?
Mark:
Sure. So I’ve been actually in the financial services business in some form or capacity for about the last 25 years. Back in 2000, was kind of a wake-up call for everybody, because the markets took a really big hit. And at that point in time, we decided that we had to use safe money strategies with clients. And we found that through the years, that wasn’t really the only way that we should be helping clients. And when 2008 came around, we saw another round of people losing their life savings. And I said we need to really take on Wealth Management ourselves in a very big way. And so become a comprehensive wealth management firm. And so instead of just using safe money solutions, we wanted to also bring to the table full wealth management, which we have. So since 2008, we’ve been on that full wealth management and of things. And I was recently introduced to Brett Swarts, through another counterpart. And we had talked about something called the deferred sales trust. And we actually use that on a client recently. And I’m sure we’ll share that story today. But for us, in our practice, we focus on people who are in or nearing retirement, who have some complex tax solutions. So it’s not just about trading the money, anybody can do that for you. But we have a $60 billion team that actually does the trading. We call that a tamp that tamp also works with many sub managers out there, who had been in the business for many years working on Wall Street, I deal only with institutional investors generally, that through us individuals have that same opportunity. So on the trading end, we have the institutional side that the retail investor can get involved in, then we also have our tax management and strategy, part of the practice for people who have either appreciated assets now or who want to look at a legacy plan later on for their kids from a tax perspective. And then also take a look at the full wealth planning end of it from income to long term care planning. And all in between.
Brett:
Got it. Thanks for sharing that. And we’ll dive into Yes, absolutely. The deferred sales trust story just closed in Colorado for a sneak peek. It’s around a 50 unit multifamily property for a client of Ted’s who is looking to get rid of the toilets, trash, and liability, get diversified liquid, and on the sidelines. So we’ll dive into that here later in the episode. But I want to take one more step back, Mark. And I believe we’ve all been given, you know, certain gifts in this life. And I want you to think about when you were younger, maybe was the college years and his high school years, maybe when you were a child, where some people call these strengths or gifts or superpowers, I believe you’ve been given certain these gifts are kind of God-given gifts, I believe these gifts are given to us to be a blessing for others. So I’m curious what was maybe the one or two gifts you believe you were given? And how does that help how you help people today?
Mark:
I’ve always been interested in money. And the reason mainly why I’ve been interested in money is because I didn’t come from a family with money. So I decided early on in my life that I wanted to live my life differently. And to do that I would have to get educated in certain areas to really make that happen. I remember when I was 12 years old, and I had a paper route. I actually had two paper routes that I was delivering, that I was making back then. And this was in 1982 83 about $1,000 a month and for a kid of that age, you know, $1,000 a month that was a lot of money back then. And I remember I would take that money and I would go and I would invest it. I was really into coin collecting at that point, I collected stamps. But I also like to buy stocks. And I would research socks. And I have my famous Apple story. And to this day, I want my mother to live it down. But I bought Apple back in 1982 when I believe it was around 10 or $12 a share. And I owned it for a couple of months. And I bought $1,000 worth of it. And she told me to get rid of it because that company is going to go out of business. And I did and I wound up selling out of it. And I did a back-calculation on that stock. And that stock would have been worth over a million dollars now with my $1,000 investment. So yes, I’ve made some mistakes, you know, along the way, I’ve had some successes as well. But that’s the reason why I’m sitting in front of you know, people today helping them with their money. Because nobody ever had a coach in our family to do that. I want to be the coach to families, and make sure that they can live their retirement dreams.
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