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25: The Secret to How Millionaires Build Their Wealth with Financial Planner Kaitlyn Carlson

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I haven’t been subtle about this: I’m extremely passionate about helping people build wealth with their businesses. We’ve covered tons of strategies in the last handful of episodes, you’re hearing from Kaitlyn Carlson, a Financial Planner to multi-millionaire (and a few billionaire) business owners and the Founder of Theory Planning Partners. She’s sharing her best strategies for building wealth no matter where you are in your business, the people you need on your financial success team, and how to choose a financial planner.

Are you looking for more information on how to build wealth with your business and generate your first $1M? Sign up for my free weekly email series, Millionaire Mondays!

Key takeaways from the episode:

  • Phase I of wealth building is to figure out how much you need to save per month to hit your retirement goals. Use an online retirement calculator to see how much that is and make that your first financial goal when you start paying yourself.

  • Phase II is deciding if you’re going to build an enterprise business or a lifestyle business, and building your financial success team. This includes a CFO, Bookkeeper, an Account who is also a Tax Strategist, and a Financial Planner.

  • When you’re looking for a Financial Planner, make sure you hire someone who is a Certified Financial Planner (CFP), and who is working for a Registered Investment Advisor (RAI) as opposed to an insurance company.

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Resources mentioned in this episode:

Connect with Kaitlyn! Theory Planning Partners is a boutique wealth creation firm that works with the top female entrepreneurs in America. They focus on helping women optimize the value of their business, build personal wealth, and leave a lasting legacy.

I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!

Connect with Sarah:

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