EP 130 | 5 Habits of Wealthy People & When to Bring the Advisor and CPA Together

This week on Investing Simplified, Matt Sudol discussed critical considerations when starting or purchasing a small business. The conversation emphasized the need for thorough planning beyond just the numbers—advising prospective business owners to assess not only potential profit margins and start-up costs but also the lifestyle changes a new venture may bring. The hosts highlighted the frequent oversight of essential tasks like tax planning and bookkeeping, and the importance of business owners being proactive with their financial records to better position themselves for available tax benefits and avoid unpleasant year-end surprises.

In the second segment, Matt Sudol and Matt Mai reviewed an article from The Motley Fool on “five money habits of the wealthy,” focusing on habits such as saving aggressively, creating multiple streams of income, and investing for the long term. The hosts explained strategies like the 50/30/20 budgeting rule (essentials/wants/savings), and stressed not letting lifestyle inflation eat into increased earnings. The show wrapped up with a discussion on the value of coordinating financial and tax planning by having joint meetings with advisors and CPAs, better ensuring clients can maximize opportunities and avoid missed savings. Listeners were reminded of the complimentary consultation services available at Price Financial Group.

Navigating the world of finance can be overwhelming, especially when biased advice and outdated strategies cloud the path to financial success. That’s why Price Financial Group Wealth Management created Investing Simplified — a podcast dedicated to demystifying the complexities of finance and investing. Join our experienced hosts and guest experts as they break down financial concepts into practical, actionable insights. Whether you’re a seasoned investor or just getting started, Investing Simplified is your go-to resource for honest advice and proven strategies to help you build a confident financial future. Meet the Hosts: Matt Mai - CIO & Wealth Manager Matt Sudol - COO & Wealth Manager Bo Caldwell - CCO & Wealth Manager Tune in and take charge of your financial journey with clarity and confidence! Schedule A Complimentary Consultation