723: Achieve Your Financial Goals, Plan for the Future, and Develop Healthy Money Habits with CPA Larry Pon

Larry Pon is a Certified Public Accountant (CPA) with over 34 years of experience in tax and financial planning. He runs a tax and financial planning practice in Redwood Shores, California, where he has helped hundreds of clients reach their financial goals. Today, Larry talks about the importance of developing healthy money habits and taking a proactive approach to financial planning.

Quotes

“If you have good financial habits, I can be very helpful. But if you can't break those financial habits, I will refer you to someone else.” - Larry Pon

“My favorite clients are the ones who call me and we talk before they do something big, like they're about to buy a house or make an investment, and we discuss the choices A, B, and C.” - Larry Pon

“I treat money like a garden. You gotta take care of it. You gotta manage it.” - Larry Pon

Takeaways

01:49 Proactive communication with a CPA throughout the year can help prevent financial issues and reduce stress during tax season.

08:24 Developing good financial habits, such as reviewing tax withholding and maximizing employer benefits, can have a significant impact on one's financial well-being.

14:06 Seeking unbiased advice from a CPA who is not compensated by the sale of financial products can help ensure that the client's best interests are prioritized.

17:44 Carefully researching financial information from reputable sources is crucial, as not all online content is reliable or objective.

26:04 Choosing the right business entity requires a thorough understanding of the legal, tax, and operational considerations specific to the individual's needs.

Resources

Podcast: Play in new window | Download (Duration: 30:48 — 28.4MB) | Embed

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Filed in: Archive 3: 2018-2020 • Interview • Podcast

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