Episode 13 | The Importance of Diversifying Wealth and Estate Plans with Timothy Clifford

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Episode Notes

In this insightful episode of the Buried in Work podcast, host Adam Zuckerman interviews Timothy Clifford, founder of Core Wealth Consultants and a certified financial planner, who shares his decades of expertise in wealth management and estate planning. From his early career on the Chicago Mercantile Exchange to developing the innovative tool, Plan Assist, Tim has helped countless individuals build sustainable wealth. Tim discusses the essential differences between making money and accumulating wealth, key financial decisions that impact long-term success, and how proper estate planning simplifies end-of-life tasks.

Discover the importance of living within your means, maximizing your 401(k), seeking counsel, and diversifying assets for a secure financial future. Tim provides practical, actionable insights for those looking to take control of their financial destiny. Plus, he shares how his Plan Assist tool can guide you through building a wealth strategy that stands the test of time. Whether you’re just starting or are well into your financial journey, this episode has something valuable for everyone.

Key Takeaways:

• From Trading to Wealth Management: Tim’s journey from the Chicago Mercantile Exchange to founding Core Wealth Consultants.
• Key Financial Decisions: The difference between earning money and building wealth.
• Plan Assist: Tim’s tool to help individuals simplify their financial planning and estate management.
• Living Within Your Means: Why financial discipline is crucial to long-term wealth.
• Diversification: More than just stocks—diversifying income streams and tax liabilities for a secure retirement.
• Seek Counsel: How both informal and formal counsel can impact your financial success.

Show Links

• Check out Tim’s Plan Assist tool and download his free guide at planassist.com

About Timothy Clifford

Timothy Clifford’s career began not in an office but on the floor of the Chicago Mercantile Exchange in the 1980s, where he started as a runner before becoming a trader, immersing himself in the world of commodities. This foundational experience laid the groundwork for his understanding of financial markets.

The 1990s brought a pivotal shift when he joined Charles Schwab & Co., an opportunity that allowed him to interact with a broad spectrum of financially successful clients across various industries. During this period, he began to notice how financially successful people made decisions and realized there was a difference between those who earned a lot of money and those who accumulated significant wealth.

These insights were crucial in shaping his approach to financial management, steering him away from the excitement of trading toward a more structured focus on wealth building. As he advanced into leadership roles in the 2000s, his resolve to help others build and maintain their wealth only strengthened. By 2012, he had earned his Certified Financial Planner® designation and was ready to leverage his extensive experience by founding Core Wealth Consultants LLC, marking the beginning of his journey as a financial advisor in Central Florida.

The development of PlanAssist® marked a significant milestone in his career, driven by a desire to simplify wealth-building principles for those who generally understand finances and know what they need to do but may need assistance with prioritization and organization.

Inspired by the philosophies of renowned investor Charlie Munger—particularly the principle that “we can only help those who almost know”—and tailored to his own insights, such as “financial success is not an event but the accumulation of all our decisions over decades,” PlanAssist® embodies the culmination of his experiences and the principles that, in his view, individuals need to implement to grow and maintain wealth.

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