Reevaluating Your Financial Advisory Relationship

Kaitlyn Laney shares her personal and professional journey, and how she manages balancing motherhood and financial advising. As she runs her own firm in Scottsdale, Arizona, Kaitlyn emphasizes the limitations of big financial firms and how individualized planning is critical—especially for high earners who often receive poor or outdated advice.

Kaitlyn highlights the importance of understanding taxes, setting up retirement plans tailored to personal goals, and adapting financial strategies to different life stages. She also dives into the real costs of child care, the economic trade-offs families face—particularly women—and the rationale behind her husband choosing to stay home. 

We discuss...

• Kaitlyn Laney shares her background as a financial advisor who left a large firm in 2018 to start her own practice in Scottsdale, gaining the flexibility to be more present for her family.
• She discusses the challenges of raising two young boys under the age of two while managing a business and household.
• Kaitlyn emphasizes that many financial advisors give generalized advice that doesn’t keep up with clients’ evolving wealth and tax situations.
• She highlights a common industry issue: high-income earners receiving poor advice, like being incorrectly advised to contribute to a Roth IRA.
• Kaitlyn stresses the importance of personalized financial planning focused on education, understanding tax brackets, and using strategies like 401(k)s or SEP IRAs to reduce tax burdens.
• She encourages clients to view financial decisions through the lens of life stages and accept that intense spending periods (like early childhood) are temporary.
• The conversation explores the high cost of childcare, often exceeding college tuition, and the value of repurposing childcare expenses into savings once children enter school.
• Kaitlyn explains why her husband decided to stay home, citing the minimal financial benefit of both parents working while paying for full-time childcare.
• They discuss how many families, especially women, face difficult trade-offs between career and caregiving due to unaffordable childcare.
• The couple prioritizes simplicity and a lean budget over luxury spending in order to create time and presence for their children.
• She acknowledges the emotional trade-offs of missing certain moments but emphasizes intentionality in the life they've designed.
• Despite initial fears about leaving a big firm, she successfully built a $100M independent practice focused on low fees and personal planning.
• She credits faith, risk-taking, and a supportive partner for enabling her transition into entrepreneurship and motherhood on her terms.
• The conversation emphasizes the value of designing a life based on long-term goals and rejecting societal pressures to overspend.
• Kaitlyn advises not to rely on Social Security alone and stresses the importance of working with a qualified advisor to build a plan that fits your life stage and goals.

For more information, visit the show notes at https://moneytreepodcast.com/balancing-motherhood-and-financial-advising-kaitlyn-laney-730 

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Phil Weiss | Apprise Wealth Management

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