Ep 243: 7 Silent Money Leaks Draining High-Earning Entrepreneurs

📘 Show Notes: Episode 243 7 Wealth Leaks Silently Draining High-Earning Entrepreneurs In this week’s episode of The Weekly Wealth Podcast , Certified Financial Planner David Chudyk breaks down seven of the biggest hidden money leaks he sees among high-earning entrepreneurs and business owners. These leaks are subtle, easy to overlook, and can quietly cost thousands each year — but the good news is they’re fixable. David walks you through each leak, explains why it happens, and gives practical steps to plug the problem so you can keep more of what you earn and build intentional long-term wealth. 🔎 What You’ll Learn 1️⃣ Tax Leaks from Poor Structure & Bad Planning Why the wrong entity type, missed deductions, and lack of proactive tax planning can cost high earners 10–20% more each year. 2️⃣ Insurance Gaps & Overlaps How missing coverages, duplicated coverages, rising deductibles, or an underinsured home expose you to unnecessary financial risk. 3️⃣ Poorly Structured Debt Strategies Why high-interest credit cards, inefficient equipment financing, or paying down the wrong debts in the wrong order slows your wealth building. 4️⃣ Uncoordinated (and Unintentional) Investments How scattered accounts, overlap, idle cash, and missing strategy reduce returns and increase tax drag. 5️⃣ Lifestyle Creep The silent wealth killer that grows spending at the same rate as income — and how to reverse it with intention. 6️⃣ Inefficient Exit & Succession Planning Why unprepared businesses sell for less, become unsellable, or create chaos without systems, documentation, and buy-sell agreements. 7️⃣ Lack of a Cash Flow System How entrepreneurs who manage money on “feel” instead of process consistently overspend, under save, and make emotion-based decisions. 🧰 Helpful Links From This Episode 10-Minute Vision Call: www.weeklywealthpodcast.com/vision Value Builder Score: www.weeklywealthpodcast.com/valuebuilderscore Submit Your Thankfulness Recording: www.weeklywealthpodcast.com/voicemail Email David: david@parallelfinancial.com 💬 Bonus Segment: Gratitude Week David invites listeners to share what they’re thankful for this year. Your message may be included in next week’s special Thanksgiving gratitude episode.