High Earner But Not Rich Yet? 💸 A Financial Advisor's Truth
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What does it really take to build wealth — and hold onto it — in South Africa today? In this episode of Meet My Business, host Hendrik sits down with Jaco Steenberg, a financial advisor at Old Mutual and the man behind Steenberg Associates, for an honest conversation about money, goals, and the long-term relationships that make financial planning actually work.
Jaco shares how he stumbled into the industry (his own mother insisted the job didn't exist), the tough early years when quitting felt like a monthly temptation, and the moment he realised that good advice has almost nothing to do with selling policies. He explains his ideal client — the "HENRY," or High Earner, Not Rich Yet — walks through his six-step planning process, and makes a compelling case for why starting young and protecting your goals matters far more than most people think.
It's a warm, practical and at times deeply moving look at the human side of financial planning, including one client story that stays with you long after the episode ends. Whether you're just beginning to save or rethinking your retirement, this is a conversation worth your time.
Jaco shares how he stumbled into the industry (his own mother insisted the job didn't exist), the tough early years when quitting felt like a monthly temptation, and the moment he realised that good advice has almost nothing to do with selling policies. He explains his ideal client — the "HENRY," or High Earner, Not Rich Yet — walks through his six-step planning process, and makes a compelling case for why starting young and protecting your goals matters far more than most people think.
It's a warm, practical and at times deeply moving look at the human side of financial planning, including one client story that stays with you long after the episode ends. Whether you're just beginning to save or rethinking your retirement, this is a conversation worth your time.
Chapters
- 00:00 Intro
- 00:35 Meet Jaco: Financial Advisor at Old Mutual
- 00:59 The client who tried to DIY his future
- 01:51 Birding, the Kruger & life outside work
- 03:14 A day in the life of an advisor
- 04:42 How Jaco found this career
- 07:17 The tough early days at Old Mutual
- 09:11 Expectation vs reality of the job
- 11:27 The moment he almost quit
- 12:43 What he wishes he'd known
- 15:20 The ideal client — the "HENRY"
- 16:42 First contact to reaching your goals
- 18:57 What sets Jaco apart
- 21:16 His most meaningful client outcome
- 24:43 Financial planning on any income
- 27:06 Why you need a financial planner
- 27:50 Start young: the power of compound interest
- 28:27 How to reach Jaco
- 29:22 Closing
