Episode 123 - Don't Let a Surprise Tax Bill Ruin Date Night

Episode 123 - Don't Let a Surprise Tax Bill Ruin Date Night

A growing business can create more opportunity, more momentum, and more income. But it can also create one of the least welcome surprises for business owners: a tax bill they did not see coming. In this episode of Building Wealthy Habits, we talk about why tax planning should not wait until April and why a strong year in business can quickly become stressful when cash flow, estimates, and planning are not aligned. For many entrepreneurs, the issue is not just the tax bill itself. It is the pressure it creates at home, the questions it raises about the business, and the feeling of wondering what everyone else knows that you do not. This conversation explores how business owners can move from reactive tax conversations to a more proactive, coordinated planning approach From quarterly check-ins to aligning your CPA, advisor, attorney, and broader financial team, the goal is to create more clarity before the surprise arrives. Because the more your business grows, the more important it becomes to have a plan that grows with it. Key Topics Discussed: * Why surprise tax bills often happen during growth years * How taxes can create pressure in business and personal relationships * Why waiting until April may be too late for meaningful planning * The difference between reactive tax filing and proactive tax planning * Common tax planning mistakes business owners make * Why your financial team should be working together #BuildingWealthyHabits #TaxPlanning #BusinessOwners #Entrepreneurship #FinancialPlanning #BusinessGrowth #WealthManagement #TriCordAdvisors Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ [https://www.linkedin.com/in/jeremiahjlee/] Email: Jeremiah@tricordadvisors.com [Jeremiah@tricordadvisors.com] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ [https://www.linkedin.com/in/laura-lee-59a83610/] Email: Laura@tricordadvisors.com [Laura@tricordadvisors.com] --- 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 122 – What Do You Want Your Money to Do for You?

You've worked hard to build something real. But eventually, a new question begins to emerge: What do you want your money to do for you? Too many people spend years accumulating wealth without taking the time to define the life they actually want that wealth to support. They follow the crowd, delay their dreams, and assume there is a "right" way to retire, travel, give, or spend their time. In this episode of Building Wealthy Habits, we explore why financial planning should never be one-size-fits-all. From retirement and financial independence to family legacy, charitable giving, and lifestyle choices, we discuss how clarity around your vision can help create a plan that fits your life. Because financial freedom is not about reaching someone else's finish line. It's about understanding what matters most to you and building a plan that supports it. Whether you're approaching retirement, considering a major life transition, or simply wondering what comes next, this conversation will help you think differently about the relationship between your wealth and the life you've worked so hard to build. Key Topics: * Why financial planning should never be one-size-fits-all * The shift from accumulating wealth to living from your assets * How couples can align around a shared vision for the future * Using money to support what matters most * Why financial independence is both a math problem and a mindset shift * The sacrifices we make and the priorities we choose * Building a plan around your goals instead of someone else's expectations #FinancialPlanning #RetirementPlanning #FinancialFreedom #WealthManagement #PersonalFinance #LegacyPlanning Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ [https://www.linkedin.com/in/jeremiahjlee/] Email: Jeremiah@tricordadvisors.com [Jeremiah@tricordadvisors.com] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ [https://www.linkedin.com/in/laura-lee-59a83610/] Email: Laura@tricordadvisors.com [Laura@tricordadvisors.com] --- 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 121 - Your Business Is Growing. Now What?

Things are going well. Revenue is growing. Opportunities are expanding. And yet, many business owners find themselves asking a new question: Now what? Success creates a different kind of complexity. Taxes become larger. Decisions carry more weight. Relationships evolve. And the systems that helped you build the business may not be the systems that support the next season. In this episode of Building Wealthy Habits, we discuss what happens when growth creates complexity and why simply "getting through it" may no longer be enough. From leadership and delegation to tax planning, succession, and building the right team around you, this conversation explores how successful entrepreneurs can move from survival mode to a more intentional vision for the future. Because growth is about more than building a business. It's about building a life. If you've built something real and you're wondering what comes next, this conversation is for you. Key Topics Discussed * Why success creates a new kind of complexity * The danger of staying in survival mode * Questions every growing business owner should ask * Why delegation is really about leadership * Building a coordinated team around your goals * Creating a vision for the next season #BuildingWealthyHabits #BusinessOwners #Entrepreneurship #BusinessGrowth #FinancialPlanning #Leadership #TaxPlanning #TriCordAdvisors Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ [https://www.linkedin.com/in/jeremiahjlee/] Email: Jeremiah@tricordadvisors.com [Jeremiah@tricordadvisors.com] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ [https://www.linkedin.com/in/laura-lee-59a83610/] Email: Laura@tricordadvisors.com [Laura@tricordadvisors.com] --- 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 120 - The Money Conversation Most Couples Keep Avoiding

Money is one of the most important conversations in a relationship. It's also one of the most avoided. In this episode of Building Wealthy Habits, Jeremiah and Laura share a candid look at how they handle financial conversations in their own marriage. As financial planners, business owners, parents, and spouses, they've learned that money discussions are rarely just about budgets and bank accounts. They're often about security, trust, priorities, and the future you're trying to build together. Many couples avoid talking about money because they don't want conflict. Others assume they're already on the same page. But as life becomes more complex, avoiding these conversations can create stress, misunderstandings, and missed opportunities. Jeremiah and Laura discuss the questions every couple should be asking, common communication mistakes, practical tools for creating financial clarity, and how alignment around money can strengthen both your finances and your relationship. If you've ever wondered whether you're having the right financial conversations with your partner, this episode is for you. Key Topics: • Why money conversations feel emotionally charged • The three questions every couple should ask each other about money • How different money backgrounds shape financial decisions • Why budgeting is about clarity, not restriction • Tools that can simplify financial communication • Creating a shared vision for your financial future • Building stronger financial habits as a couple #BuildingWealthyHabits #CouplesAndMoney #FinancialPlanning #MarriageAndMoney #FinancialCommunication #MoneyMindset #TriCordAdvisors Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ [https://www.linkedin.com/in/jeremiahjlee/] Email: Jeremiah@tricordadvisors.com [Jeremiah@tricordadvisors.com] Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ [https://www.linkedin.com/in/laura-lee-59a83610/] Email: Laura@tricordadvisors.com [Laura@tricordadvisors.com] --- 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 119 - Should Your Business Own the Building It Operates In?

Should you buy the building your business operates in, or continue leasing? For many business owners, commercial real estate can become one of the largest investments they ever make. But owning a building is about much more than control over your space. In this episode, Jeremiah and Laura discuss the key factors business owners should consider before purchasing commercial real estate. From long-term growth plans and tax considerations to liquidity, diversification, and succession planning, they explore how owning property can impact both your business and your personal financial future. While commercial real estate can create opportunities for wealth building, passive income, and greater control, it also comes with responsibilities and risks that should not be overlooked. The right decision depends on how the property fits into your broader goals, investment strategy, and long-term vision. Key Topics: • Evaluating whether your current location supports future business growth and expansion • The benefits of owning commercial real estate, including control and long-term wealth building • Tax considerations, depreciation, and after-tax investment returns • Diversification, concentration risk, and liquidity concerns in real estate investing • The realities of property ownership, management responsibilities, and passive income expectations • Succession planning and using commercial real estate as a multigenerational asset for family businesses #BuildingWealthyHabits #CommercialRealEstate #BusinessOwners #Entrepreneurship #FinancialPlanning #BusinessGrowth #WealthManagement #TriCordAdvisors --- 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.