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Jan 4, 2022

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Henry Daas is a Personal Finance Coach, Realtor, and Serial Entrepreneur. He is the author of the book FQ: Financial Intelligence, where he writes about every aspect of managing your personal finances and shares over 40 years of investing and spending wisdom. As a finance coach, Henry teaches clients to have more confidence in investing, the best practices for wealth management, and how to avoid the common mistakes people make when managing their finances.

Henry joins us today to discuss how business leaders should prepare for their retirement, especially after selling their business. He describes his experience with working in IT, how he immersed himself in Wall Street, and what made him settle for a career in personal finance coaching. He explains some of the best practices regarding risk management, long-term investments, and the five reasons many businesses fail. Henry also shares what readers can expect from his book and why he believes the Fear Of Missing Out is the biggest money trap of all.

"If you're in the insurance business, your business is to manage risk." - Henry Daas

Today on Spot On Insurance:

  • Growing up in the state of New York and comparing Brooklyn and Manhattan
  • How Henry decided what program to pursue in college
  • Having the opportunity to work on systems for Wall Street
  • Transitioning from IT and programming to the financial industry
  • The piece of advice Henry would give to young professionals experiencing an unstable economy
  • Henry's advice regarding risks and the stock market
  • The common mistakes Henry sees entrepreneurs make
  • Managing risks between being an entrepreneur and staying in corporate
  • What Henry believes are the five reasons businesses fail
  • Why Henry is a fan of buying "fallen" companies
  • What inspired Henry to start his consulting business
  • Henry's thoughts on cryptomarkets and why he won't trade them
  • Real estate investments you should make today
  • Why business leaders should learn to obsolete themselves
  • Doing your due diligence on your business and your life after you exit
  • Making sure you have a legacy left after you sell your business
  • The story behind Henry's latest book and what readers can expect
  • What Henry believes is the biggest money trap and the "Greater Fool" theory

Key Takeaways:

  • Your businesses will run better if you start best practices at a very early age
  • It’s wise to take your time and learn how to run a business before you start one.
  • If you have to convince people they need your product - you're done.

Connect with Henry Daas:

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

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