How to Plan for Retirement | Patrick Cote | 550

How to Plan for Retirement About Patrick Cote: AssetGrade is a fee-only Registered Investment Advisor firm that provides financial planning and investment management services for HENRYs (High Earners, Not Rich Yet) and businesses. Prior to launching AssetGrade in 2013, Pat held a number of executive roles at Fidelity Investments, including running operations for communications and investment reviews for more than 13,000 clients with retirement plan assets totaling more than $600 billion. Pat also ran strategy and acquisitions for OneShield, a KKR-backed insurance software and services provider. He is a former strategy consultant from Bain & Company in London and Boston. Pat is a Chartered Financial Analyst® and earned his MBA from the Wharton School of the University of Pennsylvania and his undergraduate degree from McGill University. Patrick R. Côté, Founding Partner AssetGrade (617) 933 7257 [email protected] www.assetgrade.com Chapters 00:00 How to Plan for Retirement 00:51 How did Patrick become a financial advisor? 01:50 Patrick's advice for people who are unable to retire due to financial obligations 07:03 Patrick's advice for people that start their businesses late 09:35 What are the strategic differences between being an entrepreneur and a wage earner? 12:08 How does Patrick prepare his clients for what their future lifestyle would be like? 13:46 What are Patrick's clients' retirement misconceptions? 15:33 How damaging are credit cards? 20:59 How did Patrick's firm become one of the best in the country? 22:21 Who is Patrick's ideal client? 23:52 What are Patrick's strategies for dealing with clients? 25:38 What is the difference between a fee-only financial advisor and someone who earns a commission by selling a product or service? 28:52 Who is the type of person Patrick wants to work? 31:35 Why investing in only one company is a bad idea? 32:46 What is the advice Patrick has given as a result of COVID? 34:11 How does Patrick handle clients who want to invest in S&P 500 Index Funds? 36:30 People should consider their stock portfolio in the same way they consider the investment in their home