Building Wealthy Habits

In episode 24 of Building Wealthy Habits, we discuss the topic of innovation, specifically focusing on the impact of artificial intelligence (AI) on personal finance. We weigh potential benefits and concerns surrounding AI in various industries and highlight the importance of trust and the human factor in financial planning, emphasizing the need for a personalized approach that takes into account...

In part two of our Executive Coaching Series, we are joined again by our favorite executive coach, Joseph King Barkley! This episode explores how executive coaching principles align with financial planning to help clients build a better future. Listen as Joseph drops some amazing nuggets on us around vision setting techniques, overcoming barriers, and building trust over time. The crew shares pers...

In part one of this two part series, we are joined by our favorite executive coach, Joseph King Barkley to discuss the impact of coaching on personal growth and leadership. We explore different coaching formats and how vision, mindset and strategy are central to the process. Learn about coaching's benefits through personal testimonials and aha moments. Joseph outlines resources for those intereste...

This episode of Building Wealthy Habits focuses on the importance of trust in business and personal relationships. We dig into the topics of wills, trusts, and estate planning, highlighting the need to avoid probate and the benefits of having a will or trust. The conversation also emphasizes the significance of powers of attorney for financial and healthcare matters.  We cover various aspects of e...

Laura, Randy, and Jeremiah Lee discuss the history of taxes, and discuss tax planning strategies, emphasizing the importance of understanding tax laws and utilizing tax loss harvesting. You won't want to miss Randy and Jeremiah facing off in the "Tax Dash" game. Laura highlighted the emotional state of clients when preparing taxes, while Randy stressed the need for constant awareness of changing t...

In episode 19 of Building Wealthy Habits we are joined by Jason Thomas, Ph. D., CFA from Capital Markets Research & Strategy where they discuss the intersection of technology and investing, highlighting trends such as increased accessibility and automated investing platforms. Jason challenges common investing misconceptions, arguing that sophisticated tools like short selling and options trading c...

In episode 18 of Building Wealthy Habits, Randy Barkley, Laura Lee, and Jeremiah Lee discuss the complexities of inflation and its effects on personal finances and the economy. They explore how inflation has evolved over time, its historical context, and its current impact on spending habits and investment decisions. They emphasize the importance of understanding inflation's impact on people's spe...

In this episode Randy, Jeremiah and Laura discuss the history and evolution of financial planning, from the Great Depression to the present day. They explore how the industry has changed over time, including the emergence of certified financial planners (CFPs) and the impact of technology. Randy, Jeremiah and Laura provide historical context of financial planning and insights into the future of fi...

In this episode Randy, Jeremiah and Laura come together to discuss articles they have found in the media, ranging from topics about cash reserves potentially entering the stock market, investing in stocks that have seen high returns but may be overvalued, and the importance of diversification and valuation metrics. They warn about fake investment tips using celebrities' names and pump and dump sch...

This episode of Building Wealthy Habits provides insights into the unique challenges faced by women business owners and professionals. Laura, Randy and Jeremiah discuss common struggles and offer holistic planning strategies for empowered women in the workplace. Listeners learn how to create a safe space for questions and build trust. Tips are shared for empowering female clients through personali...

In this episode the team sits down to discuss financial planning strategies for attorneys. Jeremiah shares insights from his experience working at a large law firm and highlights common characteristics of attorneys and considerations for their debt, families, and careers. Overall this episode emphasizes the importance of risk management, estate planning, and having a trusted financial advisor in y...

This episode of the Building Wealthy Habits podcast focuses on providing financial planning advice tailored for engineers. Laura and Jeremiah discuss the unique challenges of working with engineer clients and how to communicate financial concepts in a way that resonates with their analytical minds. They explore common traits of engineers and how to shift their investing mindset. The hosts also hig...

In this episode we discuss financial planning strategies for physicians. It starts by exploring retirement planning, taxes, debt management, and structuring income for high-earning doctors. We emphasize the importance of flexible scheduling and organizing financial information. This episode also highlights relationship planning, charitable giving structures, business entities, and detailed partner...

Laura and Jeremiah discuss practical tasks to handle after losing a loved one, like rolling over retirement accounts and changing beneficiaries. They remind listeners to allow time to grieve before making major decisions. The hosts cover managing debts and taxes and reviewing estate plans. Laura emphasizes updating support systems through groups since grieving is hard to do alone. Jeremiah notes t...

Join us for episode 10 of Building Wealthy Habits where we discuss the different cycles that most businesses go through. Laura and Jeremiah talk about the launch phase where entrepreneurs work long hours to test their ideas. They then describe the growth phase where businesses hire employees and seek financing. Next, they examine the maturity phase where profits level off and companies focus on su...

In this episode of Building Wealthy Habits, Randy Barkley and Laura Lee dive into Social Security benefits and planning, explaining eligibility requirements, the impact of starting benefits early vs late, and how benefits are calculated for spouses and survivors. They discuss how other retirement income like pensions and 401ks interact with Social Security. The podcast provides valuable insights o...

In this episode of Building Wealthy Habits, Jeremiah, and Laura discuss their experiences with snow sports. Jeremiah recounts learning to snowboard as a teenager without lessons. The hosts then explore various tax-advantaged strategies for charitable giving. They explain how donating appreciated stock or using a donor advised fund can provide deductions. Laura provides an example of how bunching d...

Today's episode of Building Wealthy Habits discusses different business structures and entity formations. Jeremiah provides insights into sole proprietorships, partnerships, LLCs and corporations. They explore the tax implications of LLCs versus S Corps and how to hold appreciated assets. Randy and Jeremiah advise regularly consulting advisors as a business grows and circumstances change. Tune in...

Laura, Jeremiah, and Randy discuss legal considerations for widows and survivors in this episode of Building Wealthy Habits. They cover topics like property titling, beneficiary designations, taxes after death, and updating estate plans. Jeremiah emphasizes the importance of both spouses being engaged in financial planning while alive. The crew explains how life insurance can provide crucial suppo...

In this episode of the Building Wealthy Habits Podcast we cover Required Minimum Distributions (RMDs) from retirement accounts. We discuss calculating RMD amounts based on account balances and the flexibility in distributing amounts across accounts. Inheritance rules are explained, noting that spouses can stretch distributions but non-spouses get 10 years to empty accounts. We also mention Qualifi...

In this episode of the Building Wealthy Habits Podcast, we bring you part 2 of the conversation around succession planning. Randy, Laura and Jeremiah discuss the importance of succession planning for business owners and emphasize starting early and identifying potential successors. Succession plans should ensure the business continues successfully and provides financial incentives for existing own...

In this episode of the Building Wealthy Habits Podcast, Jeremiah and Laura discuss financial planning for widows and survivors in 2024, noting the large population of baby boomer widows and the emotional challenges they face. They emphasize the importance of having trusted advisors to help navigate finances and provide support after losing a spouse or parent. Jeremiah and Laura highlight proper as...

In this episode of Building Wealthy Habits we discuss retirement vision and income planning. Randy, Jeremiah and Laura discuss saving for retirement through pensions, 401ks and Social Security. They emphasize the importance of having a clear retirement vision and flexibility in long-term financial plans. Don't miss the discussion about strategies for charitable giving and intergenerational wealth...

In this episode of Building Wealthy Habits, Randy and Jeremiah discuss the importance of succession planning for business owners, sharing stories of clients who lacked plans and struggled with unexpected transitions. They explore strategies like transferring ownership to family, partners, or third parties. Randy and Jeremiah emphasize preparing contracts, valuation, and the founder's next steps to...