Wizards of Wall Street Looking for 'Silver Linings' in the Economy

Constantly rising prices, the war in Ukraine, a roller-coaster stock market, and now new concerns about the banking industry have made many older Americans who thought they had nothing to worry about financially start to question their long-term financial security. A group of Orange County seniors dubbed “The Wizards of Wall Street” hopes to bring some added financial peace of mind to seniors during this uncertain time.

The group started during the pandemic at Reata Glen senior living community in San Juan Capistrano. It was originally 10 men discussing the stock market over coffee. That was before one of their neighbors passed away, and his widow came to them for advice on how to move forward financially since her husband handled all their assets.

The group jumped in to help her, and that turned into a mission to assist their neighbors with other financial concerns or questions. “As we get older, we’re dealing with life transitions that sometimes we would rather not be,” said Jeff Zakaryan, Reata Glen resident and president of The Wizards of Wall Street. “I think those people involved in the group are going to make better decisions in their legal lives, and they’ll sleep better at night.”

The group now consists of 55 residents – half of them are women. They meet monthly over coffee to discuss current affairs, economic issues, and situations. They also host outside experts from various fields, including estate planning and personal finance to help answer any questions or alleviate any concerns about their financial peace.