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.

Episode 86 - Common Missteps for Estate Planning 09/23/2025

Episode 86 - Common Missteps for Estate Planning In this episode, Laura Lee, Jeremiah Lee and Randy Barkley, break down some of the intricacies of estate planning, highlighting common missteps and offering practical advice to avoid them. They discuss the importance of having a trust over a will, the pitfalls of adding children to property titles, and the complexities of managing illiquid assets. The conversation also touches on the significance of coordinating estate plans with other assets and understanding community property laws. Takeaways Avoid common estate planning missteps to prevent future inconvenience. A trust is more effective than a will in avoiding probate. Adding children to property titles can lead to tax and liability issues. Plan for illiquid assets like property and businesses carefully. Coordinate estate plans with other financial assets for consistency. Understand community property laws and their impact on estate planning. Beneficiary designations can override estate plans if not aligned. Estate planning should include discussions with family members. Tax implications of inheritance can be significant and need planning. Regularly review and update estate plans to reflect current situations. 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/38317110

Episode 85 - Spending Habits that Stretch Your Wealth in Retirement 09/16/2025

Episode 84 - Creating Reliable, Tax Efficient Retirement Income 09/09/2025

Episode 83 - Tax Benefits from The Big Beautiful Bill 09/02/2025

Episode 82 - The First 5 Years of Retirement: Habits That Make or Break! 08/26/2025

Episode 81 - Your Business Isn't a Retirement Plan - Here's What It Is 08/19/2025

Episode 81 - Your Business Isn't a Retirement Plan - Here's What It Is In this episode, Laura Lee and Randy Barkley dive into the common pitfalls business owners face when they rely solely on their business as their retirement plan. They discuss the importance of diversification, planning for the future, and the complexities of selling a business. With insights from financial planning experts, this episode is a must-listen for entrepreneurs looking to secure their financial future. Key Takeaways: The risks of viewing your business as your sole retirement asset. The importance of diversification in your financial portfolio. Planning for the sale of your business well in advance. Understanding the complexities of taxes and wealth transfer. If these topics resonate with you, consider reaching out to a certified financial planner to discuss a strategy that best serves your financial goals. #BusinessPlanning #FinancialSecurity #Entrepreneurship 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37843410

Episode 80 - Navigating Real Estate Decisions in Retirement 08/15/2025

Episode 80 - Navigating Real Estate Decisions in Retirement Join Jeremiah Lee, Laura Lee and Randy Barkley as they unleash on the complexities of real estate decisions for those approaching or in retirement. This episode explores the emotional and financial aspects of downsizing, the role of real estate in your investment portfolio, and the tax implications of selling your home. In This Episode: > The emotional connection to your home and its impact on decision-making. > Understanding real estate as an asset versus an expense. > Tax considerations when selling a primary residence in California. > The pros and cons of downsizing or transitioning to a condo community. > Strategies for unlocking the value of your home for retirement income. If you're considering retirement or expanding your real estate portfolio, contact Tri-Court Advisors for personalized advice. #RealEstate #RetirementPlanning #FinancialQuestions --- 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: 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37839320

Episode 79 - Profit First, Not Last: Paying Yourself as a Business Owner 08/05/2025

Episode 79 - Profit First, Not Last: Paying Yourself as a Business Owner In this episode, Jeremiah Lee, Laura Lee and Randy Barkley dive into the crucial topic of financial strategy for business owners. They explore the concept of "paying yourself first" and discuss the balance between reinvesting in your business and enjoying personal financial success. Learn from real-life stories and expert advice on how to avoid common pitfalls and make wise financial decisions. In This Episode: The importance of setting aside funds for taxes and retirement. Strategies for balancing personal and business expenses. Insights on building a financial safety net for business owners. The role of financial advisors in managing business finances. If you're a business owner looking for financial guidance, reach out to Trey Court Advisors for expert advice tailored to your needs. #BusinessFinance #Entrepreneurship #FinancialPlanning ======= 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37625895

Episode 78 - IRMAA, RMDs, and ROTHs - Oh my! 07/29/2025

Episode 78 - IRMAA, RMDs, and ROTHs - Oh my! Join Randy, Laura and Jeremiah as they navigate the complex world of retirement taxes. In this episode, they break down the intricacies of IRMAA (Income Related Monthly Adjustment Amount), RMDs (Required Minimum Distributions), and Roth conversions. Discover how these financial elements impact retirees and learn strategies to manage your tax liabilities effectively. In This Episode: Understanding IRMAA and its impact on Medicare premiums. The importance of planning for RMDs and how they affect your tax bracket. Exploring Roth conversions as a strategic tax planning tool. Insights into charitable contributions and their tax benefits. #RetirementPlanning #TaxStrategy #FinancialAdvice Don't let retirement taxes catch you off guard. Tune in to gain valuable insights and strategies to ensure smooth sailing into your golden years. === 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37524690

Episode 77 - The Big Beautiful Bill 07/22/2025

Episode 77 - The Big Beautiful Bill This week we are discussing the key highlights of the Big Beautiful Bill, focusing on significant tax changes, implications for estate planning, and the impact on various financial aspects such as deductions and credits. This episode emphasizes the importance of understanding these changes for effective financial planning and the potential benefits for individuals and businesses. Key Takeaways: The Big Beautiful Bill is extensive and complex, covering many financial aspects. Key tax cuts from the previous bill have been made permanent. The estate tax exemption has been extended, benefiting many families. Changes to tax brackets will also be permanent, providing stability. New tax credits and deductions are introduced, including for child tax credits. The bill impacts overtime and tips, allowing some income to be tax-exempt. Businesses will see changes that could encourage growth and hiring. Understanding the bill requires consulting with financial professionals. Resources are available for deeper insights into the bill's implications. The conversation highlights the need for proactive financial planning. === 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37504610

Episode 76 - Planning for the Unexpected 07/16/2025

Episode 76 - Planning for the Unexpected One of the most common questions we get is around how to plan for the unexpected, and today Laura and Jeremiah are tackling the complexities of navigating unexpected life events from a financial planning perspective. They explore how life pivots—whether it’s an unexpected inheritance, business sale, or personal loss—can reshape retirement plans and long-term goals. The conversation underscores the role of financial advisors as thought partners who help clients maintain financial hygiene, revise their strategies, and communicate openly about goals as life changes unfold. In this episode: You can’t plan for the unexpected, but you can prepare for it. Financial advisors should be thought partners, not just money managers. An unexpected inheritance can significantly shift a retirement plan. Life pivots often require a revision of life goals and financial strategies. Open, ongoing conversations about money are essential. Maintaining financial hygiene—like building an emergency fund—is key. Clear financial visibility empowers better decision-making during transitions. Supporting survivor spouses is crucial in times of loss. Creating a safe space for financial dialogue can strengthen relationships. === 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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/37432150

Episode 75 - Emotional Responses That Influence Investment Decisions 06/24/2025

Episode 74 - The Mindset Behind Money: Insights from 'The Psychology of Money' 06/17/2025

Episode 73 - 5 Signs to Know When You're Ready to Hire a Financial Advisor 06/10/2025

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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/36774240

Episode 71 - Strategies for Entrepreneurs to Build & Preserve Wealth 05/27/2025

Episode 70 - Preparing to Sell Your Company 05/20/2025

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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/36487765

Episode 68 - Don't Get Too Political 05/06/2025

Episode 67 - Inheriting vs. Gifting 04/29/2025

Episode 66 - Retirement Catastrophes to Avoid 04/22/2025

Episode 65 - How to Know When It’s NOT Time to Retire 04/15/2025

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. /episode/index/show/1b796e30-85bc-499e-b117-cc64c1bd2a9b/id/36036280

Episode 63 - What Are We Seeing in the Markets, Q1 2025 Featuring Dr. Jason Thomas 04/01/2025

Episode 62 - Various Ways to Purchase a Business 03/25/2025

Episode 61 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 2 03/19/2025

Episode 60 - Max Kayes Talks Building a Healthy Relationship with Money Pt. 1 03/11/2025

Episode 59 - Keanon Alderson Talks Family-Owned Businesses 03/04/2025

Episode 58 - Case Study: How Do I Know If I Can Retire 02/25/2025

Episode 57 - Real Estate Investments with Josh Coniglio 02/18/2025

Building Wealthy Habits

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