Episode 174

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Published on:

8th Sep 2023

Oh Yeah!, Insurance Changes & Happiness

They boys open the show without Haroon who is once again out on PTO while he visits his in-laws in "Sac." They quickly jump in to a discussion regarding the changing landscape of home insurance in America. Many home insurers are starting to or have already cut natural disaster from policies as climate risks continue to mount. As a proxy, Chris and Saied leverage a Wall Street Journal article which asks the question "Are we ready for a $100 billion dollar catastrophe?" Global insured losses from natural disasters and the number of billion-dollar insured loss events worldwide have increased over time visibly. After all the negativity, Chris wanted to make a pivot in to something positive and highlights an article from CNBC which identifies the three things that Americans say define wealth in their mind. Shockingly none of them require making money, but most of them are a byproduct of making money. Without Haroon in the studio, you will need to pay homage to him by opening a beverage mid-show in order to cover for him in his obnoxious absence.

Resources:

The Fed's preferred inflation measure stayed high in July — and consumers are continuing to spend (CNN Business)

Bigger Pockets x The Data Deli Instagram (Instagram)

Full impact of Fed hikes still to be seen in real economy, ex-vice chair Blinder says (Reuters)

Home insurers cut natural disasters from policies as climate risks grow (The Washington Post)

Are We Ready for a $100 Billion Catastrophe? How About $200 Billion? (The Wall Street Journal)

Americans say these 3 things define wealth -none of them require making a lot of money (CNBC)

Americans Are Bailing on Their Home Insurance (The Wall Street Journal)

Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000 (CNBC)

Here's where the jobs are for August 2023 - in one chart (CNBC)

Shoppers pull back on 'big ticket' items as furniture, appliance sales lag (Yahoo! Finance)

Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

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Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.