”Generational Wealth - Navigating it Well” with Rebecca Jensen

Personal Financial Strategy the podcast

‘Getting your mind right is the most important part of owning and managing wealth.’ Rebecca Jensen

In today’s episode, we welcome Rebecca Jensen to the podcast. Rebecca is a CPA at MaxQTC Incorporated, a business consulting firm focused on family office services. Rebecca has over 25 years of experience as a CPA, and specializes in helping families retain assets and grow wealth across generations. Essentially, she helps families manage their family wealth like a business.

Rebecca talks to me about her experiences and how she helps families retain assets and manage their wealth.

Listen in!

• I got into accounting and worked with Deloitte in Seattle until I had my children where I decided to open up my own accounting firm.
• We worked with small business owners until I sold off the firm and ended up working for a company as a CFO.
• I later ended up going independent, and I started working with clients, both individuals and businesses, to help them transfer wealth and do transition leadership for companies.
• We also run family office services where we combine our team of professionals and prepare taxes and help people with cash flow plans.
• One of the things that is really important is having clear communication between the family members on what's happening with assets.
• One of the first things we do is we run an analysis with our clients and make sure that they've got enough money to retire comfortably.
• For the generation of people who are good savers and have a lot of assets, the plan will be to help that next generation.
• It is important to be careful in transferring large assets, and make sure that whoever is in charge of them, has the experience to not have it ruin their lives.
• There's a lot of wisdom that needs to be passed on before you transfer the actual management of assets to allow the family to benefit from them for many generations.
• I realized that getting your mind right is the most important part of owning and managing wealth.
• If you try to just do your planning in the middle of tax season, you're not gonna get the best advice because they just don't have the time and mental energy.
• For people who get to inherit wealth without experience, find someone who is experienced to help in managing the wealth.

To connect with Rebecca, go to www.familythinkingstrategies.com

As always, if you are interested in complete “peace of mind” about your personal finances, visit us at: www.personalfinancialstrategy.com