Episode 29: Your Money Mentality & The Psychology of Staying Rich
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Ted Oakley is the Managing Partner and Founder of Oxbow Advisors. With more than forty years of experience in advising high net worth clients in the investment industry, He is a frequent guest on FOX Business News, Bloomberg Radio, Cheddar TV, Yahoo Finance, and many more.
Mr. Oakley is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP). He is a member of the Austin Society of Financial Analysts. He is also a Partner of Herndon Plant Oakley Ltd., an investment company. He is a Board Member of Texas State Aquarium, American Bank, and American Bank Holding Company. Mr. Oakley is a United States Army Veteran.
Mr. Oakley began his career in Dallas, Texas, over 35 years ago. He is the author of nine books on family wealth, staying rich, money mentality, and more. Links are in the notes.
Mr. Oakley’s primary philanthropic interest is helping children.
A good friend based in Asia introduced me to Ted’s son Keys who was kind enough to help set up this recording. My friend is both an inheritor and wealth creator himself, and curious about the topics we discuss today, I soon discovered that Ted had interviewed my dear friend Jay Hughes, an advisor to wealthy families, and author, who was an early guest on my show.
Today, Ted and I will discuss the peculiar challenges and opportunities associated with staying rich. We are reminded that any fortune that can be made, can be lost. We talk about the importance of keeping family stories alive. Ted points out how there are over a million people in the US with a net worth of $10-$15 million, yet they drop out from this group regularly. We investigate the reasons. It’s music to my ears when Ted emphasizes the need to have liquidity, idle cash on the side. We end with the topic of the next generation.
Ted was a real delight to talk to; we found many overlaps with how we think at Sicart Associates. I also learned a lot, I hope you do too. Please help me welcome – Ted Oakley.
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IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, neither my firm nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of a member of a registered investment adviser and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results.