Starting Over at 50
Starting over at 50? You don't have to do it alone. Hosted by a divorced dad of three teenage daughters, this podcast delivers expert advice on finance and personal growth. Discover how to thrive in your next chapter with actionable tips from top professionals designed to help you regain your footing and your confidence.
Starting Over at 50
001: Divorced, 52, and Drowning in Decisions: How to Afford What Actually Matters with Morgan Nichols
Episode Overview
Join host Gabe (52) as he sits down with Morgan, a 35-year-old financial advisor in Dallas who specializes in helping people live more intentionally through major life transitions. In this candid conversation, they explore the emotional and financial challenges of divorce, raising teenagers, planning for college, caring for aging parents, and building a meaningful legacy.
Key Topics Discussed
Personal Journey & Philosophy
- Morgan's path from Pepperdine University to founding Life Branch Wealth Partners
- The coaching approach to financial advising: moving beyond numbers to understand what truly matters
- How childhood experiences with money shape our adult financial behaviors
Life After Divorce
- Managing the financial and emotional restart at 52
- Balancing competing priorities: retirement savings vs. creating memories with kids
- The importance of being vulnerable about major life changes
Raising Financially Savvy Teens
- Teaching kids about money through open, authentic conversations
- Encouraging early investing habits (Gabe's daughter opens her first brokerage account)
- Navigating the college decision: aspirational dreams vs. financial reality
The Sandwich Generation Challenge
- Caring for aging parents while raising teenagers
- Having important conversations about inheritances and legacy
- The critical importance of self-care when holding everything together
Investment Wisdom
- Why emotional decisions derail investment success (Gabe's Apple stock story)
- The value of "racehorse money" for individual stock investing
- Time in the market vs. timing the market
Planning for the Future
- Understanding the "go-go," "slow-go," and "no-go" retirement phases
- Creating financial plans that accommodate life's unexpected expenses
- Balancing present experiences with future security
Memorable Quotes
"At the end of the day, if we're living intentionally in alignment with our values, we'll be happy. We'll feel like our life has meaning."
"You can borrow for college, right? You can't borrow for retirement."
"I like to think of inheritances as icing on the cake that can help, not something to fully count on."
"We've got to focus on you in that middle, saying what are you doing to restore yourself? If I don't get that time for me, it's gonna be a problem."
Resources Mentioned
- Morgan's book: Intentional Legacy
- Life Branch Wealth Partners
Episode Takeaways
- Financial planning isn't just about numbers—it's about understanding your values and priorities
- Having a trusted advisor helps protect you from emotional financial decisions
- Open conversations about money with family members (kids and parents) are essential
- Perfect balance doesn't exist, but intentional trade-offs aligned with your values create meaning
- Starting financial education early with children sets them up for lifelong success
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Connect: gabe@moreclientsmorefun.com