Hustle And Financial Clarity with Michael Scarpati
In this episode of Keep Hustling, host Aaron Gordon sits down with guest Michael Scarpati, an independent fiduciary financial planner and founder of Retire Us. Michael Scarpati shares his personal journey growing up with two contrasting financial influences, a frugal, banking-minded mother and an entrepreneurial, free-spirited father. This perspective led him to a mission of making advanced, independent financial advice accessible to everyone. The conversation dives into defining financial freedom, the importance of understanding one's financial habits, and why most people lack clarity on their retirement goals. Michael Scarpati breaks down common misconceptions about money, reveals the power of starting early with savings, and offers real-world advice on planning for the future. He also discusses how small tweaks and greater financial awareness can have a massive impact, urging listeners to become conscious participants in their own financial journey. The episode closes with an inspiring quote on the importance of making the unconscious conscious to take control of life's direction.
Get To Know Michael Scarpati
Michael Scarpati is a seasoned entrepreneur and the CEO & Founder of RetireUS, where he leverages over 15 years of expertise in financial planning to empower individuals towards achieving financial freedom. With a vision to make independent fiduciary financial guidance accessible to all, Michael co-founded RetireUS to revolutionize the financial services industry. His mission centers on creating a seamless integration of human relationships and technology, resulting in a frictionless financial planning experience that is faster, more cost-effective, and significantly more impactful than traditional methods.
In addition to his role at RetireUS, Michael is the chairman of the board for OWE, a non-profit organization dedicated to uplifting impoverished communities through the provision of essential resources for sustainability and independence. He is consistently on the lookout for innovative opportunities to foster collaboration and growth, making a meaningful difference in both the financial sector and the communities he serves.
3 Episode Key Takeaways
1. Define Your Financial Freedom: Michael Scarpati stresses that financial freedom is a personal definition, not a universal one. Listeners are encouraged to reflect on what financial independence truly means to them, understanding their unique goals rather than following the crowd or societal expectations.
2. Start Early and Stick to the Plan: Both Aaron Gordon and Michael Scarpati highlight the power of beginning financial planning as soon as possible. Saving and investing consistently, even modest amounts, while following a structured plan, can result in substantial financial growth over a lifetime, proving that it's never too early to build towards independence.
3. Become Conscious of Your Habits: The episode underscores how unconscious spending and habits can derail progress toward financial goals. Michael Scarpati encourages listeners to regularly assess and adjust their money habits, empowering them to make more intentional choices and avoid the trap of calling adverse outcomes "fate."
Show Overview
00:00 Financial Roots and Childhood
03:28 Comedy, Entrepreneurship, and Financial Wisdom
09:20 Grandparent Spoiling and Life Choices
10:58 Defining Financial Freedom Personally
13:47 Hustle and Stick to Plans
17:10 Reevaluating Money and Spending
22:27 Estate Tax Loophole Explained
26:02 Affordable Access to Financial Experts
27:20 Make the Unconscious Conscious