In this episode of the Sound Financial Bites Podcast, Paul and Cory dissect the Wealth Coordination Account and its relationship to big wealth and small business. Paul and Cory talk about the importance of having a financial mechanism that you have total control and autonomy over on a consistent, ongoing basis. They provide the true definition of an asset as it relates to this account and break down the misconception Americans have about the concept of savings. Finally, Paul and Cory discuss the one aspect that plagues business owners and affects their ability to achieve true financial independence.


  • 01:22 – Paul introduces today’s topic: The Wealth Coordination Account as it relates to big wealth and small business
  • 02:35 – This Week in Planning
  • 03:11 – Paul and Cory break down and criticize the article, ‘The Five Expenses That Derail Retirement’
  • 06:09 – Paul talks about wealth-eroding actions
  • 10:38 – Paul states the real number one reason retirement is being derailed
  • 11:30 – Paul teases the number one cost of having children that they cover on the Sound Financial Bites Podcast
  • 13:35 – The Wealth Coordination Account
  • 15:36 – One mistake that plagues business owners
  • 18:27 – Why financial independence is predicated on your personal balance sheet
  • 19:17 – Cory defines a wealth coordination account and Paul speaks to its simplicity
  • 21:26 – The definition of an asset
  • 24:17 – Paul encourages the audience to visit the Sound Financial Group website
  • 25:30 – Why a home is not an asset for the purposes of a wealth coordination account
  • 27:14 – Paul and Cory list assets that many may not consider to be assets
  • 31:40 – How Americans view savings
  • 36:11 – Paul interrupts the podcast to provide the audience with a special offer
  • 37:13 – The number two component of a Wealth Coordination Account
  • 39:37 – Paul challenges the audience with a quick thought experiment
  • 42:10 – Paul’s experience with a heckler while speaking to an entrepreneur group
  • 47:14 – The final component of a Wealth Coordination Account
  • 49:22 – Paul talks about the wage base
  • 51:57 – Key takeaways from today’s episode
  • 54:12 – Paul reads a review left on the Sound Financial Bites Podcast


“One of the biggest wealth-eroders people have is when they choose to obligate their future income.”

“An asset is anything that can put money in your pocket now, or has the capacity to put money in your pocket in the future, without changing your lifestyle.”

“Money isn’t math. Money is math plus human behavior.”

“This is a mantra you can use in other areas of your world. It is the positive power of negative pressure.”

“I promise you, if you are not actively telling your money where to go, before too long you will start wondering where it went.”


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Five Expenses Derailing America’s Retirement Savings

Sound Financial Bites Episode 9

Clockwork: Design Your Business to Run Itself



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