Building Wealthy Habits

In episode 49 of Building Wealthy Habits, Laura and Jeremiah Lee discuss the essential considerations for clients seeking a financial advisor. They explore the importance of understanding the advisor's services, fee structures, and the role they will play in the client's financial journey. The conversation emphasizes the significance of building trust, the value of credentials, and the need for al...

In this episode of Building Wealthy Habits, we get real about the financial myths that trip up so many families. From the truth about "safe" investments like bonds to why chasing the latest trends could wreck your financial goals, we're breaking it all down. We talk about why starting early with investing is everything (hint: it's not about getting rich quick), the delicate dance of risk and retur...

In this episode of Building Wealthy Habits, we unwrapped a truly unique and heartwarming topic: holiday gifting with purpose. Our conversation focused on holiday gift ideas that go beyond the ordinary—offering thoughtfulness, financial literacy, and deeper family connections. From fun educational games to timeless financial books, we explored ways to inspire critical thinking about money in creati...

In Episode 46 of Building Wealth Habits, we tackled a topic that impacts us all: longevity. With life expectancy on the rise, we explored how living longer influences our health, finances, and even our social systems. From uncovering emerging health trends to dissecting the complexities of long-term care insurance, this episode packed actionable insights for anyone planning for the future. We also...

In episode 45 of Building Wealthy Habits, Laura Lee, Randy, and Jeremiah discuss the financial wisdom they've gained over the years, emphasizing the importance of hindsight in making better financial decisions. They share personal stories and lessons learned about budgeting, investing, and teaching children about money. The discussion highlights the significance of developing good financial habits...

This episode of Building Wealthy Habits explores the evolving landscape of retirement, focusing on the fears and concerns retirees face today, particularly regarding financial security and healthcare costs. The discussion highlights the impact of inflation on retirement savings and the importance of finding purpose in semi-retirement. Specifically, this conversation emphasizes the need for retiree...

Who is stoked for the Dodgers in the World Series? We are! In this episode, we discuss the excitement surrounding the World Series and peel back the financial aspects of baseball contracts, particularly focusing on Shohei Ohtani's historic $700 million contract with the Dodgers. We explore the implications of deferred payments, tax considerations, and compare Ohtani's contract to Bobby Bonilla's u...

In this episode of Building Wealthy Habits, we have the entire crew and dive into the key steps for achieving early retirement. We emphasize the importance of setting clear goals, understanding what financial independence truly means, and the crucial role of smart budgeting and investing. Also, we highlight the value of having an emergency fund and the need to remain flexible with financial plans....

In this episode of Building Wealthy Habits, Laura and Jeremiah tackle some of the worst money advice they've heard or received. From "live for today, not tomorrow" to "investing is too risky," they debunk these common financial myths and share practical wisdom to help listeners build healthy financial habits. Key Moments: [0:00] Introduction to the topic of bad money advice [1:15] Discussing the a...

Laura and Jeremiah discuss the importance of developing a spending plan to achieve financial freedom. They emphasize aligning spending with personal values rather than societal expectations and the need for self-awareness and active listening in financial conversations. They review various budgeting methods, including the 50/30/20 rule and zero-based budgeting, and recommend apps like Monarch, YNA...

This week we are breaking things down to the basics of investing, including the differences between tax-deferred and taxable accounts, the importance of setting investment goals, and the power of strategies like dollar cost averaging. They also emphasize the value of diversification and maintaining emotional control when markets fluctuate. Whether you're a seasoned investor or just starting out, t...

We kick this episode off on a lighthearted note, discussing the current challenges faced by the West Coast due to wildfires and heatwaves. The main topic of the conversation is why everyone is talking about CD rates and why people are chasing banks for the best rates. We discuss the impact of the Federal Reserve cutting interest rates and the volatility of the market during an election year, and e...

This week we are talking about one of our favorite subjects – KIDS! Unfortunately, we are talking about the rising cost of parenthood and its impact on families. We explore the declining birth rate in the US and other countries, the increasing expenses of raising children, and the economic and emotional challenges faced by parents. The conversation also touches on the importance of family and the...

In this episode of Building Wealthy Habits, Laura and Jeremiah discuss the role of fractional CFOs in growing businesses. They explore the progression from handling finances in-house to hiring a tax preparer, bookkeeper, and controller. They highlight that eventually businesses reach a point where they need a strategic thinker and financial expert, which is where a fractional CFO comes in. They di...

This week we are joined by David and Caitlin Carnes as they share candid insights on marriage and money. As the heat levels rise, they reveal how they navigated the Hot Ones Challenge and the even hotter topic of finances as a couple. From spending habits to the importance of aligning values, they talk openly about how they manage money together, all while juggling the added challenge of parenting...

In episode 34 of the Building Wealthy Habits Advisors, we are absolutely thrilled to have back two of our favorite guests, Simone Knepper and Brooke Miller to talk about the recent changes in the real estate industry regarding commissions and how they are negotiated. We talk about how the National Association of Realtors was involved in a lawsuit that resulted in greater transparency surrounding r...

In this episode of the Building Wealthy Habits podcast by TriCord Advisors, we dive deep into the crucial topic of long-term care. Join us as we explore the average costs, essential strategies for preparing, and the significant impact of health on long-term care expenses. We'll also discuss the evolving dynamics of caregiving, the importance of family conversations, and the challenges of funding c...

In episode 32 of Building Wealthy Habits, we discuss Roth IRAs and specifically, backdoor and mega backdoor Roth IRAs. We explore the difference between traditional and Roth IRAs, highlighting the tax benefits of each. We also discuss the income limits for contributing to a Roth IRA and how the backdoor Roth IRA strategy allows high-income earners to contribute to a Roth IRA, touching on the benef...

Join Laura Lee and Jeremiah Lee as they debunk common myths about estate planning. Tune in as they they tackle issues and misconceptions such as: 00:00 Introduction and Discussion about Riverside Cookie Shop 03:02 Debunking Common Myths About Estate Planning 08:05 The Importance of Estate Planning While Still Alive 12:01 The Value of a Trust, Even with Just a House 18:59 Avoiding Family Conflicts...

In this episode of "Building Wealthy Habits," Randy, Laura and Jeremiah take you through the experience of meeting with a financial advisor. They break down the entire process, from your first meeting to the creation of a personalized financial plan. You'll hear about the onboarding steps, starting with the initial appointment to gather essential information, followed by the clarifying appointment...

In this episode, Laura and Jeremiah interview Marie Hair, the founder of To Dwell Here, a company that specializes in personalized hospitality and design for short-term rental properties. Marie shares her expertise in creating a balance between functional and beautiful spaces, catering to the needs of guests, and building a strong relationship with neighbors. She emphasizes the importance of focus...

In episode 28 of Building Wealthy Habits, real estate experts Simone Nepper and Brooke Miller join us to discuss the process of finding and securing a short-term rental property. They emphasize the importance of determining whether the property will be purely an investment or if it will also be used for personal vacations. They highlight the need for properties to have unique features that make th...

Welcome to episode 27 of Building Wealthy Habits! With this episode we kick off a three part series focused around short-term rentals. Tune in and see how watching HGTV  with our family sparked a conversation about property ownership and care. We discuss the financial and legal considerations of owning a short-term rental property, and highlight the importance of location, interest rates, occupanc...

In episode 26 of Building Wealthy Habits, we discuss the importance of cybersecurity and share tips and best practices to protect oneself and family from fraud and data breaches. We cover topics such as password management, two-factor authentication, credit monitoring, and the use of virtual private networks (VPNs) when using public Wi-Fi. If you take anything away from this episode, we hope it's...

This episode explores the sentiment of political extremism in the US and its impact on the economy and corporate America. We discuss how the divisive issues that fuel political extremism, such as abortion, immigration, inflation, healthcare, and international power impact discourse in our country. We also examine the role of social media in reinforcing biases and creating echo chambers. This conve...