Tour Da Yoop, Eh and Building Wealth

The Active Advisor Podcast (Episode 29)

Allow us to introduce James Studinger, a man who believes ‘Wealth is a Choice’, as he shares in his bestseller of the same name. James, a Yooper, has shaped his financial advising approach through his outdoor adventures in Michigan's Upper Peninsula. His experiences, from hiking across the U.P. to conquering Ironman races and climbing Mt. Rainier, have instilled in him a philosophy of meticulous planning, balanced strategy, and a relentless pursuit of excellence.

On this episode of The Active Advisor podcast, host Bryan Moore chats with James Studinger, Owner of JPStudinger Group, about his big three investment strategies for building wealth. Spoiler alert: James is a firm believer in active management of his investments and a fan of Roth Savings over pre-tax contributions because taxes are set to rise.

This episode of The Active Advisor covers:

• Parallels between outdoor activities and financial planning
• The “Big Three” principles for building wealth
• The concept of good assets vs bad assets
• Why defense trumps offense when building wealth
• Why Roth is a better strategy than pre-tax retirement saving

Here’s how James describes himself: “I’m a Yooper, which means I grew up in Michigan’s Upper Peninsula. I love to camp, hunt, fish, hike, and explore. I’ve done Ironmans, climbed Mt. Rainier, and run the “Rim2Rim2Rim”. My outdoor adventures and athletics directly correlate to how I run my business. You can’t hike from one great lake to another successfully in three nights without having a detailed plan, and you can’t run the Rim2Rim2Rim without knowing what you are getting into—it takes training.

Like everything in life, balance is key. These traits are exactly what is required when it comes to making money. I wrote Wealth Is a Choice in 2008. In it, I describe the most important principles for succeeding with money. I truly believe that it is within our control to be wealthy.”

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