Travis Makes Money podcast

INTERVIEW | Make Money by Building Wealth That Lasts for Generations with Andy Baumann Lustig

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Andy Baumann Lustig is a sixth-generation wealth advisor, managing partner of Fisher Stralem Advisors within Hightower Advisors, and author of Legacy on the Line. Recognized multiple times as a Forbes Top Women Wealth Advisor and Best-in-State Wealth Advisor, Andy helps entrepreneurs, business owners, and high-net-worth families grow, protect, and transfer wealth across generations. In this episode, she shares practical wealth-building strategies, common mistakes people make when planning for the future, and why thinking about your legacy earlier than you think is one of the smartest financial moves you can make. On this episode we talk about: How Andy transitioned from aspiring diplomat to top wealth advisor The foundational principles of wealth accumulation and long-term investing Tax-deferred accounts, asset allocation, and building wealth efficiently Estate planning strategies that help preserve wealth across generations Why entrepreneurs should think about legacy planning long before they plan to retire Top 3 Takeaways Building wealth and preserving wealth require different skill sets. The sooner you begin planning for wealth transfer and legacy, the more options you'll have in the future. Tax-efficient investing can dramatically improve long-term outcomes. Understanding how taxable and tax-deferred accounts work is essential to maximizing growth. Your financial team should work together. Coordinating your advisor, accountant, estate attorney, and insurance professional can uncover opportunities that are often missed when each operates independently. Notable Quotes "I like to solve problems, and I like to solve problems for other people." "The earlier you can back the truck up and build those structures in, the better off you're going to be." "Take your legacy seriously as early as you possibly can." Connect with Andy Baumann Lustig: Website: https://fischerstralem.com/andrea-lustig.html Book: https://www.legacyonthelinebook.com LinkedIn: https://www.linkedin.com/in/andrea-baumann-lustig-9b76b01/ A Word from Our Sponsors: Want to reach ambitious entrepreneurs, investors, and professionals who are actively working to build wealth? Sponsoring the Travis Makes Money podcast is a powerful way to connect with a highly engaged audience seeking actionable financial strategies and business insights. Contact the Travis Makes Money team to learn more about partnership opportunities. - Are you ready to start your own creatorjourney and make it big? Visitwww.fanvue.com today and launch yourcareer! - To learn more about Mode Mobile and its investor community, go to ⁠https://invest.modemobile.com/travismakesmoney⁠ -Travis Makes Money is made possible by High Level – the All-In-One Sales & Marketing Platform built for agencies, by an agency.Capture leads, nurture them, and close more deals—all from one powerful platform.Get an extended free trial at gohighlevel.com/travis Learn more about your ad choices. Visit megaphone.fm/adchoices

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