Joe Dunaway 0:02

Welcome to the VICI Code, where we unlock real stories of small business owners who've battled chaos, crushed doubt, and conquered their challenges. Faith, family, and finances. No fluff, just raw, honest conversations that decode the path to victory. One story at a time. What is up? Thank you for joining us today as we explore our latest purpose-driven journey, the happy zone, where we learn about engineering financial freedom, how high net worth business owners can move beyond traditional investing to create happy zone wealth, the role of tax-efficient planning in legacy building, and why aligning your money with your values is the ultimate leadership hack. We've all met high net worth individuals who have every financial metric winning, but they are miserable. They've successfully built wealth but neglected the happiness. Today we are talking to a Forbes best in state financial expert who has decoded the secret to living in the happy zone. The Andrew Schaffel, president of Crystal Clear Financial Group and author of Money and Happiness, The Seven Principles of Living in the Happy Zone. Andrew and I met almost 20 years ago through mutual friends. His abilities to make people laugh and keep it light are memorable and always on full display. However, he's also a powerhouse in the financial advisory space, specifically because he balances the cold hard math of tax and estate planning with the happy zone philosophy of his book. He is the ideal guest for the Vici code because he understands that true wealth is useless if it doesn't support the Vici pillars. Today we are exploring purpose-driven prosperity. How do you make your money work as hard as you do without losing your soul in the process? As always, we will filter Andrew's journey through the Vici pillars: faith, family, fitness, and finance. Andrew, I know this is going to be a fun one. Welcome to the show.

Andrew Schaffel 2:07

I am so excited and thank you so much. And what a beautiful introduction. I am so looking forward to this.

Joe Dunaway 2:13

Yeah, well, let's jump right in. I got, you know, this question about, you know, you spent over 20 years helping, plus 20 years helping business owners and real estate investors. You have the professional designations of CAP, AEP, R E B C, and all the other alphabets. But you, but but but your book is called Money and Happiness. Was there a specific moment in your career where you realized that smart financial planning wasn't enough if the client wasn't actually happy?

Andrew Schaffel 2:44

Absolutely. I think a defining moment was a few years back when I realized I've been coaching people for over two decades on money. And I realized some of my clients, no matter how much we grew their money, no matter how much their estate grew, they were never happy. And I felt compelled to write a book to teach people how to live in what I have termed the happy zone. So they can live a happy, contented, grateful life no matter how much or little money they have.

Joe Dunaway 3:13

That's awesome. Let's let's start a little bit earlier from there, right? For the high performer listening who feels like they're winning financially but losing in their quality of life, what is the core premise of the seven principles?

Andrew Schaffel 3:29

There's seven principles, and it's really having your right values and not letting money define who you are. And it's so important to be happy, to give back to people, to understand you have to love yourself and understand your differences that you have and accept them. And I think it really falls within our hearts to care about ourselves and then care about others. When we generally care about others and we are living in the happy zone, and it doesn't matter the money that they have, the money is important. We know that, but the happiness is more important.

Joe Dunaway 4:01

How can someone begin to shift their financial strategy from accumulation to alignment?

Andrew Schaffel 4:08

What a beautiful question. You have to align your money with your values, and that's why I love the Vici code because it's not just about money, it is about values. Where you spend your money should be things that are important to you. Maybe it's experiences with your family, maybe it's giving money back to charities and donations. Those make us happy. So aligning your money with your values is a great step to living in the happy zone. If you're spending your money on things that aren't good for other people and only good for yourself, that can give you temporary happiness. But when you're giving back to other people, giving back to your family, that gives you long-term happiness.

Joe Dunaway 4:46

That's great advice. How do you reconcile the high stress, high performance nature of business ownership with the peace of mind required to live in the happy zone?

Andrew Schaffel 4:58

We have to take time to prioritize self-health, not just wealth. And I know you're huge into fitness thing. I love watching you on Facebook. And it's so important to take the time to have a healthy life. Because if we're out there working all of the time and neglecting our health, we can get extra stressed. And we know that fitness can be a very good stress reliever. So the idea is to focus on your health, which will help you internally focus on your happiness as well.

Joe Dunaway 5:27

Yeah, and and to our listeners, health comes in so many more forms than just physical fitness. It's it's you know, mental health as well. You know, it's it's making sure that you're present with family and giving to others. And there's there's many forms of of health. And I completely agree. It's it's a big part of how I'm able to balance uh things in life and try to stay in my own happy zone. Um, let's get into tax efficiency as a legacy driver. In the finance pillar, business owners often feel like they're bleeding money on taxes. You help clients create comprehensive tax efficient strategies. What is one structural blind spot that most entrepreneurs possess that keeps them from persevering or preserving their wealth for the next generation?

Andrew Schaffel 6:17

Absolutely. So tax efficiency is such a huge part of what we do as advisors in estate planning. And I've helped people make a lot of money in stocks, and all of a sudden they get to an age where they're afraid to use their own money for their lifestyle because it has such a large capital gain. And they tell me, Andy, I'm probably going to die with this. So my kids get a stepped-up cost basis at death. But 20 years ago, the purpose of putting that money away wasn't to die with it, it was to help them align their values and their lifestyle with their money. So neglecting to tax strategies often hurt people from spending the money on what makes them happy. I've heard clients tell me they're going to die and rather die than spend their money because of taxes. That's not living in the happy zone.

Joe Dunaway 7:02

No, definitely not. Um, why does a business owner need to stop thinking about investing and start thinking about tax-efficient asset allocation?

Andrew Schaffel 7:12

Because people live a life of scarcity. I see it all the time. I save, save, save, save to get to retirement and have a few million dollars, only to live a life of scarcity because they're afraid that few million dollars won't last forever. So having the amount of money you need, but spending it wisely and allocating it wisely and not paying as much in taxes is obviously so important. But we see it all the time. Defer as much of your money away as you can as possible. And they live the scarcity lifestyle where we teach our clients to live an abundant lifestyle. It's okay to spend money, just have the right balance.

Joe Dunaway 7:49

All right. That's that's enough about money. Let's get into the Vici pillars. Yes. You're managing complex estates and business wealth in the fitness pillar. How do you manage your own energy and mental stamina?

Andrew Schaffel 8:02

Well, I train with certain people that you know. I have other trainers, they help me. I get coaches. Rather, if it's a business coach, a fitness coach, it's always good to lean on other people's expertise and they help keep me accountable. So I have a public speaking coach, I have two fitness coaches, I have a job coach, I have a business coach, and I even have an ADHD coach. So I rely on other people just like people rely on me. I give good advice and I get good advice. I had a meditation coach. Very hard for me to continue my meditation practice on a daily basis, even though I know how important it is. It's something that I struggle with, but the few times I get to meditate per week are still better than the zero times I was doing before. So meditation, coaching, and sometimes it's as simple as going for a 10-minute walk, stopping what I'm doing, going outside, and just thinking and walking. Very important.

Joe Dunaway 8:56

Yeah, that's I I couldn't agree more. Um is there a link between your personal physical discipline and the way you advise clients to manage their financial risk?

Andrew Schaffel 9:09

There is, because when we look at our clients, we look at a few different structures: their wealth structure, their protection structure, their efficiency and tax structure, their legal structure, and their health structure. That's actually something that we go over. And I have them self-assess themselves on those different areas because it's so important to live in the happy zone to take care of ourselves. Rather, if you mentioned mentally or physically, we need to prioritize that. So when I put together cleanance for my clients, their lifestyle and their health is incorporated because you see it all the time, right? You could have a client with millions and millions of dollars that has so many different mental and health problems, they're not going to get to enjoy their money. So, yes, we coach our clients to live a happy, contented, grateful life, and we actually take into consideration their mental and their physical well-being, and we help them with that. Very good.

Joe Dunaway 10:02

You've mentioned coaches a few times, and I can't agree more. I have uh a coach that I that I work closely with at the CrossFit Gym. I have uh uh a food coach that I that who's actually been on, both of those coaches have been on the VICI code that I meet with regularly. Um, I have an accountability group, I have a business coach, but then there's an accountability group that I've met. Sometimes it's just surrounding yourself and putting yourself in the right room of people. Um, even if you're not at a point where you know you can afford a coach. If you can afford a coach, you should be getting one. Um, you know, drop the ego, you know, invest in yourself and get a coach. But if that's not, if you're not at that stage in life, put yourself around the people that are are doing well, that are positive and and you know, reaching their goals. And I just wanted to highlight that, you know, definitely, you know, having coaches, if you talk to a lot of people who are finding success and are happy, they generally do have, you know, one or more coach in their life to help them get to where they're going.

Andrew Schaffel 11:04

And even finding a mentor, and like you said, surrounding yourself with positive people, that's actually a principle to live in the happy zone. Tough to be positive and happy when you're surrounded by the term Debbie Downers. So be around positive people. They will influence you and you will influence them. And that doesn't cost any money. I understand sometimes a coach could cost money, but you can join an online group for free. You can join a lot of groups that are very low cost, if not or no cost, and be surrounded by positive, like-minded people, and that'll help you live a happy, contented, grateful life.

Joe Dunaway 11:36

Absolutely. Yes, I I can attest to that. And I've definitely, I still have my core group of friends. Uh, but I've as I've gotten older, I've expanded beyond that to dive into other groups that are doing different things that are also of interest to me.

Andrew Schaffel 11:52

Um, right, we don't want to ever want to neglect our friends and our family, but it's okay to love them from a distance, to care about them, to pray about them, to be there for them when they're needed, but you don't always need to be around people if they're not positive people in your life. So never neglect, always care, but it doesn't mean be surrounded by them.

Joe Dunaway 12:11

Yeah, of course. Um, let's get into faith, family, and philanthropy. I think this is interesting. You hold the chartered advisor and philanthropy designation. In the faith and family pillars, how do you guide families to use their wealth to instill values in their children rather than just handing them a check?

Andrew Schaffel 12:30

Because we've asked our clients, what's more important to you? Is it passing down your money or passing down your values? And the overwhelming majority of them rather pass down their values than their money. And they tell me, Andy, if I can pass my values down, my children and grandchildren will inevitably earn enough money that they need. If I pass the money down only without the values, that money can be squandered quickly. Part of our process as a chartered advisor in philanthropy, when I'm coaching our clients, is I ask them, does their business and values meet their guiding values? And whatever that means to them, sometimes we have deep philosophical conversations, sometimes deep religious conversations. Doesn't matter if they're Jewish, Hindu, Muslim, Christian, we have amazing conversations based on the values that our faith has. And it's so important. And sometimes we get out of line. We spend so much time with our business, so much time, maybe even with our families, which is great. We forget to be aligned with our values from a physical, psychological, emotional, religious standpoint. And we have our clients really talk about what's important to them. Where do they give their time? Where do they give their money? You know, we hear so many amazing things that our clients share with us that they share with their children. They share what the value of a dollar means. Nobody taught me about what money meant when I was a child. I was very blessed growing up, my family had a good amount of money, I thought I'd always have money. And then reality hit when I had to start working and earning money for myself because I spent every dollar my parents gave me. They did not teach me the value of money. And that's what we teach our clients to teach their children. Have these conversations early so they can understand, respect, and appreciate money and the values behind where that money came from.

Joe Dunaway 14:18

Yeah. And then thanks for sharing those detailed uh um conversations that you have with your clients. It's definitely helpful to see how you guys guide that conversation. Now, let's get into leadership. You know, you've led local NIFA chapters and estate planning councils. Leadership in this industry requires deep trust. How does your personal faith in your mission help you navigate the inevitable market volatility and economic uncertainty that your clients fear?

Andrew Schaffel 14:48

We have to do the right thing for our clients. It's the guiding values that we have. Always do the right thing when nobody's looking. And our whole business is built on trust and communication. And the market's not always going to cooperate. So we design our plans to incorporate the downfalls of the market and anticipate them. We don't have a crystal ball. We don't know when they're going to occur, we know they will occur, and we have to accept them and plan for those times. So for me to be a good leader, it's all about trust and communication and making sure our clients that we're leading, our association people that we're leading, are very comfortable with us to tell us not just what we want to hear, but sometimes what we need to hear as well to do better for them and to do better for the associations. As you mentioned, I've led the Estate Planning Council of Central New York. I've led the financial advisors of Central New York, and it's deeply rooted in the trust and the communication we have with our board members and our association members so we can all do better for our clients in the community.

Joe Dunaway 15:48

Yes, trust is the core principle. We're getting towards the end here, Andy. We have this fun segment called Rapid Fire. So, no, no reason to overthink them. Just, you know, one, two, three, we're going to run through these quick questions.

Andrew Schaffel 16:02

Uh, the most common financial regret you see among business owners putting too much of their money away, tax deferred, or spending too much money on their business and not planning on other money outside of their business in case the business doesn't sell for as much as they think it should, and they are forced to work too hard because the business realizes that it's all about the business owner and it's not a sellable business because the business revolves around the owner and they have to work far too long.

Joe Dunaway 16:26

Key Man syndrome. Yep. Got it. What is one question a business owner should ask their financial advisor tomorrow?

Andrew Schaffel 16:34

Wow, what a great question. One question I would ask them is what are their guiding values, their guiding principles, and what does the definition of success mean to them? If it's all about money, it's probably a red flag.

Joe Dunaway 16:48

And then we usually associate internally Vici for victory. What does Vici victory look like for Andrew Schaffhal in 2026?

Andrew Schaffel 16:56

Just continue to live my life in the happy zone. It doesn't mean I need to be happy all of the time in an euphoric state of bliss, but make sure I'm grounded to reality and not let my emotions navigate my whole personality in the day. Bad things are going to happen, and we can't control what we can't control. So it's allowing myself to have healthier relationships with my family, with my wife, with my clients, with my friend, with my colleagues, and with my employees. It's to make sure that I'm being the best Andrew Schaffel on a daily basis that I can be, and the best version of me shows up for everybody often and always.

Joe Dunaway 17:29

I love that. I love that. Just to recap for our audience, money is the fuel, but happiness is the destination. True wealth is built through tax efficient strategy and aligned values. If you're a business owner or a high net worth family looking for a second opinion on your financial future, please visit crystalclearfinancialgroup.com. That's crystalclearfinancialgroup.com or pick up Andrew's book, Money and Happiness. Um, as always, we will drop Andrew's links in the comments if you want to uh reach out to him. Andrew, any last words you want to share with our audience?

Andrew Schaffel 18:09

That I am so blessed to be able to do what I do on a daily basis. And I pray for everybody that they can live the happiest version of themselves and you can actually learn to be happy. It's a teachable thing. So if you read the book, I'm well aware that not everyone is always as happy as other people. There are things in our brains that allow some people to be happier, but being happy isn't something that everyone has, but something that everybody can obtain. And if you read my book, you can learn the seven principles to live your life in the happy zone.

Joe Dunaway 18:38

It's a great read. I've read it. I was messaging Andy each chapter, letting him know like what I thought of the book. And uh by the time I was done with it, and I had mentioned this uh on my own review on social media, it's such a great book. Pick it up, and it's an easy, quick read. You can get through it in a few weeks, if not a weekend, uh, if you really pick it up for the full moment. Um protect what you've built, align your money with your values, and find your own happy zone. We'll see you on the next episode of the Vici Code. Thanks for tuning in to the VICI Code, where the underdogs rise and the numbers finally make sense. If today's story hit home, share it. And remember, faith fuels a fight, and your comeback is already in progress.