Building Wealthy Habits
Join Randy Barkley, Jeremiah Lee and Laura Lee as they sit down weekly to explore the questions and topics that impact your financial future.
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Episode 75 - Emotional Responses That Influence Investment Decisions
06/24/2025
Episode 75 - Emotional Responses That Influence Investment Decisions
In episode 75 of Building Wealthy Habits, hosts Laura, Randy and Jeremiah discuss the the complexities of investor sentiment and the emotional responses that influence investment decisions. They explore the importance of understanding market volatility, the risks associated with concentrated investments, and the necessity of diversification. The discussion also highlights the significance of liquidity for entrepreneurs, emotional responses to market fluctuations, and the need for long-term investment strategies. Ultimately, they emphasize the interplay between psychology and mathematics in successful investing. In This Episode: 00:00 Understanding Investor Sentiment 03:03 The Risks of Concentrated Investments 05:59 The Importance of Diversification 09:05 Liquidity and Access to Capital 12:11 Emotional Responses to Market Fluctuations 15:09 Long-Term Investment Strategies 17:51 The Role of Psychology in Investing Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 74 - The Mindset Behind Money: Insights from 'The Psychology of Money'
06/17/2025
Episode 74 - The Mindset Behind Money: Insights from 'The Psychology of Money'
In this episode, we explore the deep connection between mindset and money through the lens of Morgan Housel's best-selling book The Psychology of Money. This conversation unpacks the emotional and psychological forces that drive financial behavior and long-term wealth building. We discuss why wealth isn’t always visible, how compounding works best with time and patience, and why understanding your personal definition of “enough” can be the key to lasting financial freedom. Whether you're an investor, financial professional, or someone seeking more intentionality with your money, this episode offers timeless principles and practical mindset shifts. 💡 Key Takeaways: Understanding the psychology behind money is essential for smart investing True wealth is what you don’t see—it’s savings, not spending Compounding requires patience and a long-term view Clarity around what “enough” means is a shortcut to financial independence Your financial mindset is shaped by your background and experiences Scarcity thinking limits potential; an abundance mindset fuels growth Investing should align with your personal values and long-term purpose Contentment and ambition can (and should) coexist in your financial life 📚 Resources Mentioned: The Psychology of Money by Morgan Housel Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 73 - 5 Signs to Know When You're Ready to Hire a Financial Advisor
06/10/2025
Episode 73 - 5 Signs to Know When You're Ready to Hire a Financial Advisor
Join us as Laura and Jeremiah Lee discuss the critical moments when individuals should consider hiring a financial advisor. They explore the complexities of financial situations, the importance of having a financial team, and the need for holistic financial planning. The discussion emphasizes the value of having a trusted advisor to navigate major financial decisions and support clients through various life stages, ensuring that their financial plans align with their goals and needs. Key Takeaways: It's essential to recognize when your financial situation becomes complex. Hiring a financial advisor can provide clarity and support during significant life changes. A financial advisor acts as a partner in navigating financial decisions. Understanding the difference between various financial advisors is crucial. Holistic financial planning considers all aspects of a client's life. Diversification is key to managing financial risk effectively. Clients should feel supported and not alone in their financial journey. The relationship with a financial advisor should be ongoing and personal. It's important to prepare your spouse for financial management in case of unforeseen events. Financial advisors can help clients make informed decisions about their investments. ========== Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 72 - Financial Mindset: What Steps You Should Take Throughout The Decades
06/03/2025
Episode 72 - Financial Mindset: What Steps You Should Take Throughout The Decades
In this week’s episode, we take a decade-by-decade journey through the financial decisions that shape your life. Whether you're just starting out or thinking about legacy, this conversation breaks down the mindsets and strategies that build wealth—and keep it. From building habits in your 20s to making an impact in your 70s, we’ll show you how to align your money with your life goals every step of the way. What You'll Learn: Why your 20s are less about getting rich and more about building the right money habits How to avoid lifestyle creep and stay focused in your 30s The make-or-break financial moves of your 40s How to protect your retirement while helping your kids through college What to prioritize in your 50s to set up a strong retirement How to shift from growth to giving in your 60s and 70s --- Reach out at [email protected] Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ Email: [email protected] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ Email: [email protected] Connect with Randy: LinkedIn: https://www.linkedin.com/in/rkbarkley/ Email: [email protected] Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.
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Episode 71 - Strategies for Entrepreneurs to Build & Preserve Wealth
05/27/2025
Episode 71 - Strategies for Entrepreneurs to Build & Preserve Wealth
In episode 71 of Building Wealthy habits, Randy, Laura and Jeremiah discuss essential strategies for entrepreneurs to build and preserve wealth while navigating the complexities of business ownership. They emphasize the importance of diversification, retirement planning, and cash flow management, as well as the need for clear business structures and exit strategies. The discussion also touches on the challenges faced by family businesses and the significance of adapting to generational changes in business management. In this episode: Entrepreneurs often focus solely on their business, neglecting personal finance. Diversification is crucial for long-term financial stability. Real estate can be a valuable asset for entrepreneurs. Retirement plans can provide tax benefits and financial security. Cash flow management is essential for seizing new opportunities. Structuring a business with clear exit strategies is vital. Family businesses face unique challenges that require open communication. Entrepreneurs should seek advice from experienced peers. Planning for retirement should start early in the entrepreneurial journey. Listening to the next generation's vision is key for family business success. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 70 - Preparing to Sell Your Company
05/20/2025
Episode 70 - Preparing to Sell Your Company
In this episode of Building Wealthy Habits, Randy, Laura and Jeremiah discuss the essential preparations needed for selling a business. They emphasize the importance of planning ahead, structuring the business appropriately, and understanding the personal dynamics involved in the sale. Real-life examples illustrate the consequences of inadequate preparation, while the speakers also touch on the significance of timing and personal financial planning post-sale. The discussion aims to equip business owners with insights to maximize the value of their business and ensure a smooth transition. Key Takeaways: Preparation is crucial when planning to sell a business. Many business owners fail to plan adequately for a sale. Structuring your business correctly can maximize its value. Separating business assets from real estate can provide tax advantages. Reviewing contracts and ensuring long-term agreements can enhance business value. Intellectual property should be secured before selling a business. Understanding personal goals is essential when preparing for a sale. Timing the sale of a business can significantly impact its value. Retirement planning should not be neglected during the sale process. Your business should be viewed as a tool for future opportunities. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 69 - Why an Estate Plan is More Than a Will
05/13/2025
Episode 69 - Why an Estate Plan is More Than a Will
Today, Laura and Jeremiah Lee discuss the critical aspects of estate planning, emphasizing that it goes beyond just having a will. They explore the importance of advanced healthcare directives, the implications of probate, and the essential components of a comprehensive estate plan, including trusts and powers of attorney. Through real-life stories, they illustrate the necessity of planning for the unexpected and the value of clear communication in estate planning. Key Takeaways: Everyone should have an advanced healthcare directive. Probate can be lengthy and expensive, often compared to the DMV. California estate planning laws differ from other states. A trust keeps your estate private, while a will does not. Clear communication is essential in estate planning. It's important to have an estate plan in place when healthy. Trusts can dictate how and when assets are distributed. Durable powers of attorney are crucial for decision-making. Probate is not a fast process and can cause delays. Regularly review and update your estate plan. --- Reach out at [email protected] Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ Email: [email protected] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ Email: [email protected] Connect with Randy: LinkedIn: https://www.linkedin.com/in/rkbarkley/ Email: [email protected] Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.
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Episode 68 - Don't Get Too Political
05/06/2025
Episode 68 - Don't Get Too Political
This week, we are talking about the current state of the markets through a historical lens, examining past administrations and their economic impacts. We explore the lessons learned from the Carter-Reagan transition, the Great Depression under Hoover, and the recovery during FDR's New Deal. If anything, we want to emphasize the cyclical nature of the economy, the importance of diversification in investment, and the need to focus on data rather than political rhetoric to navigate current market uncertainties. In This Episode: 00:00 Market Chaos: A Historical Perspective 01:46 Lessons from the Carter-Reagan Transition 11:00 The Great Depression and Hoover's Era 14:31 FDR's New Deal and Economic Recovery 16:58 Comparing Past and Present Economic Indicators 22:50 Investment Philosophy: Lessons for Today —--- Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 67 - Inheriting vs. Gifting
04/29/2025
Episode 67 - Inheriting vs. Gifting
Do you ever find yourself contemplating the complexities of inheritance, property transfer, and estate planning? Well in episode 67 of Building Wealthy Habits, we are tackling common misconceptions surrounding these topics, particularly regarding the implications of putting children on property titles and the tax benefits of inheritance. Randy and Jeremiah emphasize the importance of understanding gifting limits and the necessity of testing financial responsibility in family gifts. Tune in as we also cover the intricacies of estate planning for high-value assets and the significance of comprehensive planning to avoid pitfalls, especially concerning retirement accounts and estate taxes. In This Episode: Many clients misunderstand the implications of putting children on property titles. Inheritance can provide significant tax benefits through a step-up in basis. Gifting has limits, but exceeding them doesn't necessarily incur taxes. Testing financial responsibility in children is crucial before large gifts. Estate planning should be proactive, especially for high-value assets. Retirement accounts have different rules regarding inheritance and taxation. Comprehensive estate planning is essential for effective wealth management. The tax code is complex and requires regular review and planning. Families often overlook the importance of discussing estate planning openly. Wealth management involves integrating estate planning with overall financial strategies. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 66 - Retirement Catastrophes to Avoid
04/22/2025
Episode 66 - Retirement Catastrophes to Avoid
In this Episode, Laura, Jeremiah and Randy discuss the critical catastrophes to avoid as individuals approach retirement. They emphasize the importance of planning for healthcare costs, the timing of Social Security benefits, and the necessity of estate planning. The discussion highlights common mistakes, such as overspending in early retirement and neglecting to stress test financial plans. This episode is full of insights into how to navigate these challenges effectively, ensuring a secure and fulfilling retirement. In This Episode: Fear of outliving money is a common concern. Healthcare and long-term care planning are crucial. Claiming Social Security too early can reduce benefits significantly. Estate planning is essential to avoid complications later. Investing strategies should adapt as one ages. Stress testing financial plans helps identify potential issues. Inflation can erode purchasing power in retirement. Overspending in early retirement can lead to future financial strain. Target date funds may need adjustments for longer retirement horizons. Planning with a trusted advisor can mitigate retirement risks. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 65 - How to Know When It’s NOT Time to Retire
04/15/2025
Episode 65 - How to Know When It’s NOT Time to Retire
In this conversation, Laura, Randy, and Jeremiah discuss the signs that indicate someone may not be ready to retire. They explore various factors such as financial insecurity, the complexity of retirement income streams, the importance of budgeting, family dynamics, the search for purpose post-retirement, and the significant costs associated with healthcare. The discussion emphasizes the need for a comprehensive retirement plan that considers not just finances but also emotional and familial aspects. In This Episode: Financial insecurity is a major concern for those considering retirement. Understanding multiple income streams is crucial for retirement planning. Budgeting is essential to track spending and prepare for retirement. Family dynamics can significantly impact retirement plans and expenses. Healthcare costs can be a major financial burden in retirement. Finding purpose after work is important for a fulfilling retirement. Many people underestimate their future tax liabilities in retirement. Planning for unexpected health events is vital for financial security. Engagement in work can provide fulfillment beyond financial needs. Retirement planning should include a holistic view of household needs. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 64 - Save Money on Taxes in 2025
04/08/2025
Episode 64 - Save Money on Taxes in 2025
This episode digs deep into effective tax strategies for minimizing tax liability, focusing on long-term planning, estate planning, retirement contributions, and smart investing. Randy, Laura and Jeremiah discuss the implications of recent tax law changes, the importance of proactive tax planning, and various strategies such as tax loss harvesting and charitable contributions to optimize tax outcomes. In this episode: Chances of being audited are likely reduced this year. Long-term tax planning is essential to avoid surprises. Estate tax exemptions are set to change in 2025. Retirement contributions can significantly impact tax liability. Tax loss harvesting can offset gains with losses. Charitable contributions can reduce taxable income. Holistic investment strategies can optimize tax outcomes. Communication with CPAs is critical for effective tax planning. Understanding the difference between Roth and traditional IRAs is key. Proactive planning can prevent last-minute tax issues. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email: Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.
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Episode 63 - What Are We Seeing in the Markets, Q1 2025 Featuring Dr. Jason Thomas
04/01/2025
Episode 63 - What Are We Seeing in the Markets, Q1 2025 Featuring Dr. Jason Thomas
In episode 63 of Building Wealthy Habits, Randy, Laura and Jeremiah are joined once again by Dr. Jason Thomas discuss the current market performance and sentiment for Q1 2025. If you missed Jason’s previous drop into Building Wealthy Habits, check out episode 19! In this episode, the group analyzes the volatility in portfolios, the impact of sector performance, and the importance of diversification. The discussion also highlights the emotional aspects of investing and the need for strategic financial planning, especially in light of tax implications and market uncertainties. In This Episode: 00:00 Market Overview and Sentiment Analysis 05:25 Sector Performance and Volatility Drivers 11:48 Investment Strategies and Risk Management 15:52 Tax Considerations in Portfolio Management Reach out at Connect with Jason: LinkedIn: https://www.linkedin.com/in/jason-thomas-phd/ Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 62 - Various Ways to Purchase a Business
03/25/2025
Episode 62 - Various Ways to Purchase a Business
In episode 62 of Building Wealthy Habits, hosts Laura, Randy and Jeremiah discuss the essential steps and considerations involved in buying a business. They explore the motivations behind acquisitions, the importance of evaluating potential companies, financing options, structuring deals, and navigating negotiations. The discussion emphasizes the need for thorough due diligence, the role of professional advisors, and the significance of aligning values and goals between buyers and sellers. In This Episode: 00:00 Introduction to Buying a Business 05:11Evaluating the Acquisition Opportunity 11:28 Financing the Deal 16:49 Structuring the Acquisition 21:41 Navigating the Negotiation Process 24:29 Final Thoughts and Key Takeaways Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 61 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 2
03/19/2025
Episode 61 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 2
In episode 2 of this 2 part series, Laura and Jeremiah are once again joined by Max Kayes, a licensed Marriage and Family Therapist and life coach, to discuss the relationship with money. Max explains Neuro-Linguistic Programming (NLP) and its role in personal development. He outlines the six basic human needs: certainty, variety, significance, love/connection, growth, and contribution, emphasizing their importance in financial planning. Laura and Jeremiah get Max to discuss how these needs align with values and how financial strategies should adapt to individual and couple dynamics. They highlight the unique challenges faced by entrepreneurs and the need for continuous growth and reevaluation of financial plans to meet evolving needs and values. Reach out at Connect with Max Kayes: LinkedIn: https://www.linkedin.com/in/max-kayes-3059021b5/ Website: https://www.christiancounselorsnetwork.com/counselor/4253/ Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 60 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 1
03/11/2025
Episode 60 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 1
In this episode of Building Wealthy Habits, Laura and Jeremiah are joined by Max Kayes, a licensed Marriage and Family Therapist and life coach, to discuss the relationship with money. Max explains Neuro-Linguistic Programming (NLP) and its role in personal development. He outlines the six basic human needs: certainty, variety, significance, love/connection, growth, and contribution, emphasizing their importance in financial planning. Laura and Jeremiah get Max to discuss how these needs align with values and how financial strategies should adapt to individual and couple dynamics. They highlight the unique challenges faced by entrepreneurs and the need for continuous growth and reevaluation of financial plans to meet evolving needs and values. Reach out at Connect with Max Kayes: LinkedIn: https://www.linkedin.com/in/max-kayes-3059021b5/ Website: https://www.christiancounselorsnetwork.com/counselor/4253/ Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 59 - Keanon Alderson Talks Family-Owned Businesses
03/04/2025
Episode 59 - Keanon Alderson Talks Family-Owned Businesses
In this episode, Laura and Randy discuss the intricacies of family-owned businesses with Keanon Alderson, the director of the Family Business Center at Cal Baptist University. They explore the unique challenges and opportunities that family firms face, including the importance of succession planning, effective communication, and the role of technology in modern business practices. The conversation emphasizes the need for a strong support team and governance structures to ensure the longevity and success of family businesses. In This Episode: 00:00 Navigating Family Business Dynamics 05:27 Opportunities and Challenges in Family Firms 10:02 The Importance of Succession Planning 15:10 Communication and Family Dynamics 20:09 Embracing Change and Technology 24:04 Building a Support Team for Success Connect with Keanon: LinkedIn: Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 58 - Case Study: How Do I Know If I Can Retire
02/25/2025
Episode 58 - Case Study: How Do I Know If I Can Retire
Welcome to this episode of Building Wealthy Habits with Jeremiah and Laura! Today, we’re diving deep into the world of financial planning, and we’re doing it through the lens of Joe and Debbie—our fictional clients. But this conversation is far from fictional—it’s real, relatable, and packed with actionable insights. Jeremiah and Laura take you step by step through the process of crafting a financial plan, from understanding your unique profile to using planning tools, analyzing cash flow, and setting up retirement income. They also highlight the importance of tailoring your plan to your personal goals, factoring in long-term care, and optimizing taxes to maximize your savings. This episode is all about helping you build a full, clear financial picture, so you can make empowered decisions for a secure future. In This Episode: 00:00 - Introduction to Financial Planning 03:10 - Understanding Client Profiles: Joe and Debbie 06:08 - Income and Net Worth Analysis 08:48 - Cash Flow Management in Retirement 12:13 - Exploring Retirement Scenarios 15:08 - Investment Strategies and Risk Management 18:05 - Long-Term Care Considerations 20:58 - Tax Planning and Optimization 23:59 - Conclusion and Call to Action Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 57 - Real Estate Investments with Josh Coniglio
02/18/2025
Episode 57 - Real Estate Investments with Josh Coniglio
In this week’s episode of Building Wealthy Habits we are joined by Josh Coniglio to discuss the multifaceted role of real estate in financial planning, emphasizing its value as a diversifier in investment portfolios. We explore the various types of real estate investments, the importance of liquidity, and the potential pitfalls of investing solely for tax benefits. The conversation also covers structuring real estate investments through LLCs and trusts, the role of REITs, and the necessity of due diligence when evaluating real estate opportunities. We hope that if you take anything away from this week’s episode, it’s the importance of maintaining liquidity and a well-rounded investment strategy. In This Episode: 00:00 Introduction to Real Estate Investment 03:02 The Value of Real Estate in Portfolios 05:46 When Real Estate Doesn't Make Sense 09:07 Understanding Tax Implications of Real Estate 11:55 Structuring Real Estate Investments 14:54 Evaluating Real Estate Opportunities 18:02 The Role of REITs and Partnerships 20:49 The Importance of Due Diligence 24:00 Conclusion and Resources Connect with Josh: LinkedIn: Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 56 - What is the FIRE Movement?
02/11/2025
Episode 56 - What is the FIRE Movement?
In this week's episode of Building Wealthy Habits, Laura, Jeremiah, and Randy explore the world of the FIRE (Financial Independence, Retire Early) movement. They go deep on the key principles behind FIRE, from extreme savings to passive income, and how millennials are embracing the idea of financial independence and early retirement. And while everything with FIRE might sound fine and dandy, they do discuss the challenges that come with achieving FIRE, the impact of social media on setting unrealistic expectations, and the importance of balancing financial goals with personal values. If you’re considering FIRE or just curious about its real-world implications, this episode offers practical tips on saving, investing, and managing debt to help you reach your financial independence goals. In This Episode: 00:00 Introduction to the FIRE Movement 03:09 Understanding Financial Independence 05:58 Challenges of the FIRE Lifestyle 08:55 The Role of Social Media in FIRE 11:56 Balancing Lifestyle and Financial Goals 15:03 Strategies for Achieving Financial Independence 17:53 Final Thoughts on the FIRE Movement Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 55 - Limiting Beliefs with Laura Lyng
02/04/2025
Episode 55 - Limiting Beliefs with Laura Lyng
In episode 55 of Building Wealthy Habits, hosts Laura and Jeremiah Lee are joined by Laura Lyng to dive into the topic of limiting beliefs and their effects on both personal and professional development. They explore how these beliefs can block progress and prevent individuals from reaching their full potential. The conversation covers strategies for recognizing, questioning, and reshaping limiting beliefs into empowering ones. Emphasizing the value of executive coaching, they share practical exercises to help shift mindset and create lasting change. In This Episode: 00:00 Introduction to Executive Coaching and Limiting Beliefs 01:55 Understanding Limiting Beliefs 05:59 Identifying and Challenging Limiting Beliefs 09:46 Transforming Limiting Beliefs into Empowering Ones 14:00 The Process of Rewriting Beliefs 19:46 Cultivating New Beliefs for Lasting Change Reach out at Connect with Laura Lyng: LinkedIn: Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 54 - Date Night Why It Is So Important!
01/28/2025
Episode 54 - Date Night Why It Is So Important!
In this heart-to-heart episode, advisors, and husband-and-wife, Laura and Jeremiah Lee, dive into the vital role date nights play in strengthening relationships, particularly when it comes to building a solid financial future. They share their personal journey, offering candid insights into how open communication, personal growth, and intentional efforts have shaped both their marriage and their financial success. Laura and Jeremiah discuss how even the smallest intentional conversations can deepen connection, foster understanding, and impact long-term financial stability. Together, they reflect on how navigating changes as a couple encourages growth in both their personal lives and their business. Takeaways: Date nights are a powerful investment in both your relationship and your future. Change is inevitable, and embracing it together is key to a strong partnership. Communication is the glue that holds relationships and financial success together. Having intentional conversations fosters deeper understanding and strengthens bonds. The health of your relationship can directly impact your financial well-being. Prioritizing and protecting date nights ensures a resilient partnership. Aligning on shared goals and supporting each other’s growth is vital for success. Divorce can have serious financial consequences—investing in your relationship now can save a lot later. The dividends from investing in your relationship will pay off in the long term. Chapters: 00:00 - The Importance of Date Night 10:01 - Navigating Change Together 19:57 - Intentional Conversations for Growth Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 53 - Creating a Vision for 2025
01/21/2025
Episode 53 - Creating a Vision for 2025
In this episode of the Building Wealthy Habits Podcast, we dive deep into the overall vision, and investments in 2025 and beyond. We emphasize the importance of understanding your personal financial goals and aligning them with current market trends. From the impact of political and economic uncertainty on investment strategies to the potential of alternative investments like real estate and crypto, this episode offers valuable insights on how to navigate a changing landscape. We discuss the significance of rebalancing portfolios to maintain the right balance of risk and return, and explore how investments like bonds, real estate, and even speculative assets like crypto can fit into your strategy. We also emphasize the need for cultivating a healthy relationship with money, ensuring that your financial decisions align with your personal values to achieve long-term financial freedom. Key Takeaways: Set your investment vision for 2025 and beyond. Understand the purpose behind your investments. Diversify your portfolio to reduce overall risk. Prepare for market volatility due to political and economic uncertainty. Rebalance portfolios regularly to stay on track. Bonds offer compelling opportunities in the current market. Real estate remains a stable investment choice. Crypto and gold are speculative but worth considering. Cultivate a healthy relationship with money for better financial success. Align your spending with personal values for greater life satisfaction. Chapters: 00:00 - Setting the Vision for 2025 Investments 02:53 - Understanding Market Trends and Expectations 06:04 - Navigating Political and Economic Uncertainty 09:09 - Exploring Alternative Investments 11:57 - The Importance of Rebalancing Portfolios 14:52 - Creating a Healthy Relationship with Money Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 52 - How to Build Trust with Your Clients
01/14/2025
Episode 52 - How to Build Trust with Your Clients
In this conversation, Randy, Laura, and Jeremiah discuss the crucial role trust plays in financial advisory. We share how trust is built not just through knowledge and expertise, but through effective communication, understanding client needs, and being there during life’s most important moments. Through personal stories, we highlight how trust impacts client relationships and why being a fiduciary—always putting the client’s best interests first—is so important. Every client interaction, big or small, is a chance to either strengthen or weaken that trust. We cover how accountability, consistent follow-up, and really listening to clients help build lasting relationships. Life events often challenge trust, but they also offer opportunities to grow stronger connections with clients. Key Takeaways: Building trust is the foundation of financial advisory. Character and capability are key to gaining and keeping trust. Every client interaction is an opportunity to build or weaken trust. Listening to clients is essential to understanding their needs. Trust grows with consistent communication and follow-up. Life events can have a significant impact on client relationships. Accountability is essential to maintaining trust. A supportive team is key to a great client experience. Trust-based relationships lead to long-term client loyalty. Chapters: 00:00 - Building Trust in Financial Advisory 05:49 - Client Relationships and Trust Building 12:06 - Trust Moments in Everyday Interactions 21:01 - Conclusion: The Importance of Trust Join us for a straightforward conversation on how to build trust with your clients and create stronger, more meaningful relationships in your financial advisory practice. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 51 - Financial Principles for Your Kids
01/07/2025
Episode 51 - Financial Principles for Your Kids
We break the mold a little bit in this episode as we dive into the critical topic of teaching children about money and financial literacy. We stress the importance of intentional and age-appropriate money conversations, exploring practical ways to introduce kids to concepts like budgeting, giving, investing, and entrepreneurship. From simple barter systems to hands-on budgeting techniques using envelopes, the discussion provides actionable tips for parents to help their children develop strong financial habits early on. Laura and Jeremiah share personal stories, highlighting how financial education can start in small, meaningful ways that set the stage for a lifetime of good money habits. Key Takeaways: 00:00 Introduction to Money Conversations 05:59 Understanding Money: Nicknames and Phrases 11:57 Encouraging Entrepreneurial Spirit in Children 17:54 Investing and Future Financial Habits Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 50 - Marketing for Small Biz and RIA with Graham Gardner
12/31/2024
Episode 50 - Marketing for Small Biz and RIA with Graham Gardner
In this episode, Laura sits down with Graham Gardner to discuss the significance of podcasting for Registered Investment Advisors (RIAs) and other small businesses, specifically focusing on how it can enhance their marketing strategies. They explore the importance of establishing an expert voice, choosing the right format and platforms, and leveraging AI for content creation. The conversation also covers the benefits of organic growth versus paid advertising, and how podcasting can help build relationships with clients. Graham shares insights on maximizing content distribution and engagement, emphasizing the need for quality equipment and the potential of repurposing content across various platforms. Key Takeaways: 00:00 Introduction to Podcasting for RIAs 02:52 The Importance of Podcasting in Financial Services 05:58 Choosing the Right Format and Platforms 09:07 Leveraging AI in Content Creation 11:58 Maximizing Content Distribution and Engagement 14:59 Building Relationships Through Podcasting 18:02 Organic Growth vs. Paid Advertising 20:55 Conclusion and Resources for RIAs Reach out at Connect with Graham: LinkedIn: https://www.linkedin.com/in/theonlinemarketer/ Email: [email protected] Connect with Laura: LinkedIn: Email:
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Episode 49 - How Do You Know if You Have the Right Financial Advisor?
12/17/2024
Episode 49 - How Do You Know if You Have the Right Financial Advisor?
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 alignment in investment philosophy and tax strategies. Ultimately, they encourage listeners to evaluate multiple advisors to find the best fit for their unique needs. Key Takeaways: Clients should prepare questions before meeting with a financial advisor. Understanding the services offered by an advisor is crucial. Fee structures can vary significantly among financial advisors. The role of a financial advisor can range from a coach to a trusted partner. Building trust with an advisor takes time and patience. Credentials like CFP can indicate a higher level of expertise. Investment philosophy should align with the client's goals and values. Clients should feel comfortable asking about the advisor's experience. Evaluating multiple advisors can lead to better decision-making. Clear communication about expectations is key to a successful advisor relationship. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 48 - Financial Planning Mythbusters Part 2
12/10/2024
Episode 48 - Financial Planning Mythbusters Part 2
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 return, and how budgeting isn’t about restriction—it’s about freedom. More importantly, we dive into how financial planning isn’t just about numbers; it’s about people, families, and creating a future where you’re not stressed about money. Whether it’s helping your kids through college, saving for your dream retirement, or just making sure your finances reflect your values, having the right guidance makes all the difference. If you’ve ever wondered what it really takes to build wealth and enjoy the journey, this episode is for you. Don’t miss it—your future self will thank you. Key Takeaways: You don't need a lot of money to start investing. Starting early with small amounts can lead to significant growth. Investing in trends can be risky; diversification is key. Past performance is not a guarantee of future results. Bonds can carry risks and are not always safe investments. High risk does not always equate to high returns. Budgeting is essential for achieving financial independence. Financial advisors are beneficial for everyone, not just the wealthy. Building a relationship with your financial advisor is crucial. Investing is about planning for the future, not gambling. Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 47 - Holiday Gift Buying Guide
12/03/2024
Episode 47 - Holiday Gift Buying Guide
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 creative, approachable ways. We also highlighted subscriptions and gadgets that make learning about finances engaging and even entertaining. And for a touch of sentimentality, we discussed the power of living gifts, like plants, that symbolize growth, resilience, and the beauty of continuity within families. At the heart of this episode is a message of giving with intention—choosing gifts that spark meaningful conversations, create lasting memories, and enrich lives in ways that go well beyond the holidays. What’s your favorite thoughtful gift idea? Share in the comments below! Check out some of our favorite gift ideas: BOOKS: • The Intelligent Investor by Benjamin Graham • Thinking, Fast and Slow by Daniel Kahneman • The Millionaire Next Door by Thomas J. Stanley • The Psychology of Money by Morgan Housel • Priceless Facts About Money by Mellody Hobson (LL) – Children’s Book Subscriptions: • Barrons • Wall Street Journal • The Economist • National Geographic for Kids Budget Software: • Copilot Budgeting Software • Monarch • PocketGard Travel: • Self-cleaning and insulated stainless steel water bottle • drinkLMNT.com Key Moments: 00:00 Setting the Stage & Holiday Gift Ideas from Financial Planners 07:35 Classic Financial Literature Recommendations 13:50 Innovative Gadgets and Tech Gifts 20:04 Health and Hydration Gifts Reach out at Connect with Jeremiah: LinkedIn: Email: Connect with Laura: LinkedIn: Email: Connect with Randy: LinkedIn: Email:
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Episode 46 - Longevity & The Sandwich Generation
11/26/2024
Episode 46 - Longevity & The Sandwich Generation
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 dove deep into the unique challenges faced by the sandwich generation—those caught between raising children and caring for aging parents—offering strategies to navigate this often-overwhelming responsibility. At its core, this conversation is about empowering you to design a healthy, fulfilling life as you age. Because building wealth isn’t just about money—it’s about creating a legacy of well-being for yourself and those you love. Key Moments: 00:00 Exploring Longevity: The Quest for a Longer Life 02:53 The Science and Anecdotes of Health Trends 06:01 Life Expectancy: Historical Context and Future Projections 12:00 The Financial Implications of Longer Lives 15:55 Navigating Long-Term Care Insurance Challenges 20:01 The Sandwich Generation: Balancing Multiple Responsibilities 22:51 Conclusion: Planning for a Healthy and Fulfilling Life Reach out at Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ Email: Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ Email: Connect with Randy: LinkedIn: Email:
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