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Solopreneur Money

A Podcast

Wealth Creation for Business Owners with Kaitlyn Carlson, Ep # 176

For the first time on Solopreneur Money, I have a fellow financial advisor join me. Curious about what we discuss? Listen in to hear Kaitlyn Carlson’s take on wealth creation for female solopreneurs.

You will want to hear this episode if you are interested in…

  • Kaitlyn’s story [1:22]
  • How is working with the one percent different from everyone else [5:58]
  • Who Kaitlyn serves now [9:31]
  • The stumbling blocks her clients have to achieving their goals [15:50]
  • How to build a business while saving [21:20]
  • The money questions [27:35]
  • My takeaways [31:44]

Kaitlyn’s path to becoming a financial advisor

Kaitlyn Carlson actually majored in psychology but ended up pursuing finance once she graduated. The funny thing is, so much of personal finance is about psychology, so it was a degree worth pursuing. She describes being a financial advisor as trying to keep her clients from doing dumb things with their money.

Kaitlyn has worked for big firms and even managed the wealth of billionaires, but really found her place when she opened her own firm. Now Kaitlyn serves top female entrepreneurs to create the role models that she never had as a young person. The outcomes are tangible and life-changing.

What Kaitlyn learned from managing the wealth of billionaires

Kaitlyn learned so much in her time as a wealth manager for the ultra-wealthy. With her background in psychology, she understood that this role taught her much about the human experience. Without strong values and purpose, someone who has it all and doesn’t have to work simply drifts along.

She realized that money isn’t the end game. It may seem like it solves all problems but it doesn’t. She found that the happiest billionaires were the ones who had firm values and a strong sense of purpose.

Kaitlyn wanted to take that same type of boutique service, strategy, and support that she offered to billionaires to female small business owners to fill the void that was missing in her previous role. Now she helps these small business owners become millionaires by introducing them to financial concepts and holding them accountable so they can create wealth.

Kaitlyn helps her clients climb financial mountains

Her financial plans come with a holistic approach. Her goal is to be the best financial partner to support her clients.

Kaitlyn looks at their goals like climbing a mountain. She is the sherpa helping them climb that mountain and also guiding them safely back down.

Her clients cast a vision of their future–this is their mountain peak. After they envision their mountain peak, they set up a base camp. This is their net worth, cash flow, and wealth protection strategies.

Then they reverse engineer a financial plan–this is the approach they take to climb their mountain.

One thing Kaitlyn has her clients consider is whether they are building an enterprise or a lifestyle business since the paths to those end goals are quite different. Be aware of the trail that you are taking with your business.

What will be your exit strategy? Have you decided what your mountain looks like?

The savings benefits available to solopreneurs

Kaitlyn loves working with solopreneurs since they have so many options for supersizing their savings. Solopreneurs have the opportunity to save 10 times as much in a year than the typical W2 employee. If you were wondering how solopreneurs can do that, listen in to discover what kinds of saving strategies you might be missing.

Connect with Kaitlyn Carlson

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