The HENRY to Wealthy Podcast

Carla Adams, CFP®

A high income doesn’t automatically mean you’re wealthy—purpose and strategy are what build real wealth. The HENRY to Wealthy Podcast is for high-earning millennials who are ready to turn strong income into real, lasting wealth. Host Carla Adams, CFP®, shares clear, actionable strategies to invest with purpose, optimize taxes, and build financial confidence—without jargon, overwhelm, or guilt about your lifestyle. 

  1. Jul 27

    Life Insurance, Explained by Someone With Nothing to Sell You

    Send us Fan Mail Ask most people if they have life insurance, and they'll say "yep, I'm covered" — usually meaning some vague multiple of their salary through their employer. Ask them if it's actually enough, and most have never really thought about it. In this episode, Carla breaks down life insurance from the perspective of a fiduciary advisor who doesn't sell it and has zero financial stake in the answer. She covers: Term vs. whole life insurance — what each actually does, why premiums differ so dramatically, and why whole life almost never makes sense outside of very specific estate-tax situations for ultra-high-net-worth familiesThe sales tactics to watch for — including the "be your own bank" pitch, and why so many life insurance salespeople call themselves "financial advisors"How much coverage you actually need — why calculating based on debt payoff is the wrong approach, and the net-present-value method Carla uses insteadThe hidden cost of unpaid labor — why a stay-at-home or logistics-managing spouse needs meaningful coverage too, even without an income to "replace"Why relying solely on employer-provided group life insurance is risky — including a personal story about a sudden coverage gap, and how getting less insurable over time (even from something as unexpected as a prescription mix-up) can leave you exposedWhy cohabitating, unmarried couples often overlook this entirely — and why "we'll deal with it when we're married" isn't a real planWhether you're just starting to think about life insurance or you already have a policy you've never questioned, this episode will help you figure out if you're actually protected — or just checking a box.

  2. Jul 13

    The Biggest Legal Mistakes New Business Owners Make (And How to Avoid Them)

    Send us Fan Mail Thinking about leaving your corporate job to start or buy a business? Before you file your LLC paperwork or give your notice, there are some critical legal decisions that could impact your business—and your personal wealth—for years to come. In this episode of The HENRY to Wealthy Podcast, Carla sits down with business attorney Jordan Segal to discuss the legal foundations every entrepreneur should have in place before launching a business. They cover common mistakes new business owners make, including choosing the wrong business entity, overlooking employment agreements and non-compete clauses, and failing to document ownership and partner relationships from the beginning. Jordan also explains why 50/50 partnerships can create deadlocks, the key legal documents every founder should have, and how intellectual property, customer contracts, and clean governance can significantly increase the value of a business when it's time to sell. Finally, Carla and Jordan discuss why legal planning isn't just about avoiding lawsuits—it's about protecting your downside, creating future options, and building a business that becomes a valuable asset rather than just a source of income. Whether you're considering entrepreneurship in the next year or already own a business, this episode will help you think strategically about building a company that's designed for long-term success and wealth creation.

  3. Jun 29

    Roth Strategies for High Earners

    Send us Fan Mail Roth accounts are one of the most powerful tools in a high earner's financial arsenal — but there's more than one way to get money into them, and the right strategy depends entirely on your situation. In this episode, Carla breaks down four Roth strategies from the ground up: the backdoor Roth IRA, Roth 401(k) contributions, the mega backdoor Roth, and plain old Roth conversions. She covers who each strategy is for, when it makes sense, and just as importantly — what can go wrong. You'll learn why HENRYs are often shut out of direct Roth IRA contributions, how the pro-rata rule can silently derail a backdoor Roth, why switching from traditional to Roth 401(k) contributions will shrink your take-home pay (and how to plan for it), and how the mega backdoor Roth can be a game-changer for high savers whose plans allow it. Carla also gets into Roth conversions — often misunderstood as something you do right now, when in reality they're frequently most powerful in the years between retirement and RMD age, when your tax bracket temporarily dips. Whether you're just getting started with retirement accounts or wondering if you're leaving tax-free growth on the table, this episode gives you the full picture. As always, the right Roth strategy is deeply personal — Carla recommends working with a financial advisor who knows your complete financial picture before implementing any of these.

  4. Jun 15

    The Truth About Alternative Investments (And Why I Stick With Stocks & Bonds)

    Send us Fan Mail In today’s episode, I’m breaking down the world of alternative investments — including rental real estate, crypto, gold, hedge funds, private equity, and liquid alternatives — and explaining why I’m generally not a fan for most investors. If you spend enough time online, it can start to feel like everyone is getting rich through some “alternative” strategy and that simple stock-and-bond investing is somehow outdated or unsophisticated. I disagree. In this episode, I walk through: the pros and cons of different alternative investmentswhy high expected returns usually come with higher riskthe hidden downsides many investors underestimateliquidity, fees, leverage, concentration risk, and tax complexitywhy “passive income” often isn’t truly passivethe role of speculation and market timing in investments like gold and cryptoand why I still believe low-cost, diversified investing is incredibly hard to beat over the long runI also explain concepts like the efficient frontier, market efficiency, and why so many alternative investments sound more appealing in theory than they often are in practice. This episode is not about saying every alternative investment is “bad.” There are certainly people who make a lot of money in these areas. But I do think many investors underestimate the risks, overestimate their ability to pick winners, and are heavily influenced by social media, marketing, and survivor bias. As always, this is educational only and not individualized investment advice.

  5. Jun 1

    How Much Should High Earners Be Saving? (And Why a $1M Year Won’t Make You Rich)

    Send us Fan Mail If you’re a high earner, one of the most important—and most overlooked—questions is:  How much of your income should you actually be saving? In this episode, we break down the real difference between earning a high income and building wealth—and why those two things are not the same. Using a simple (but eye-opening) example of a $1 million income year, Carla walks through how taxes, spending, and lifestyle creep can quickly eat away at what feels like “life-changing” money.  From there, she covers:  How much high earners actually need to save (and why 10–15% may not be enough)  The difference between short-term savings and true long-term wealth building  Why maxing out your 401(k) alone isn’t sufficient for many high earners  Retirement savings benchmarks by age—and how to interpret them  How to tell if you’re on track, behind, or ahead  Why a real financial plan (not just a calculator) is key to making confident decisions She also shares practical guidance on when DIY planning tools make sense—and when it may be worth working with an advisor. If you’ve ever wondered whether you’re saving enough—or if your high income is actually translating into long-term wealth—this episode will give you clarity.

  6. May 18

    Why You Know What to Do With Money… But Still Don’t Do It

    Send us Fan Mail In Part 2 of this series, we shift from awareness → action. In the first episode, we talked about why earning more money doesn’t automatically fix your mindset. In this episode, we dig into the harder question: how do you actually change your behavior around money? I’m joined again by therapist Ginger Houghton, and we break down:  Why change feels so hard—even when you know what to do  The “stages of change” and how they show up in your financial life  Why most people get stuck before taking real action  How to make progress without overwhelming yourself  The role of identity, self-worth, and the stories you tell yourself about money  Why small, consistent changes beat big, dramatic ones every time We also talk about when it might make sense to bring in a therapist alongside a financial advisor—especially if money brings up stress, anxiety, or deeper emotional patterns. If you’ve ever thought:  👉 “I know what I should be doing… I just can’t seem to do it” This episode will help you understand why—and what to do about it.

  7. May 4

    Why High Earners Still Feel Financially Stressed (Even With More Money)

    Send us Fan Mail In this episode, I’m joined by therapist Ginger Houghton to dive into something that doesn’t get talked about enough: the psychology of money—especially for high earners. Because here’s the truth…  Making great money doesn’t automatically mean you feel confident, secure, or at peace with your finances. We talk about:  How your money story growing up shapes your financial behavior today  Why high earners still experience scarcity mindset (even when they’re financially secure)  How lifestyle inflation and social comparison quietly creep in—especially in today’s social media world  Why some people overspend… while others are overly frugal  And one of the biggest (and most misunderstood) patterns: avoidanceIf you’ve ever:  Felt anxious about money despite earning a high income  Found yourself comparing your lifestyle to others  Or avoided looking at your finances altogether …this episode will likely resonate. This is Part 1 of a two-part conversation. In the next episode, we’ll focus on how to actually start making changes.

  8. Apr 20

    Bonds, Explained: What They Are, How They Work, and Why They’re Not Always “Safe”

    Send us Fan Mail Bonds are often labeled as the “safe” part of a portfolio — but that’s not always the full story. In this episode, I break down how bonds actually work in a way that’s simple and practical. We’ll cover what a bond really is (at its core, a loan), how interest rates and credit quality impact returns, and why not all bonds carry the same level of risk. I also walk through what happens to bond prices when interest rates change, why longer-term bonds typically pay more than shorter-term bonds, and how bond ratings play a role in both risk and return. We’ll then shift to bond funds — which tend to confuse a lot of people — and simplify what’s actually going on under the hood (hint: they’re just collections of individual bonds). I’ll also share why I generally prefer bond funds over individual bonds, and how I think about structuring the bond portion of a portfolio. My approach is to keep bonds on the more conservative side and take risk where it’s better rewarded — in stocks. But as always, it comes down to understanding the trade-offs so you can make the best decision for your situation.

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About

A high income doesn’t automatically mean you’re wealthy—purpose and strategy are what build real wealth. The HENRY to Wealthy Podcast is for high-earning millennials who are ready to turn strong income into real, lasting wealth. Host Carla Adams, CFP®, shares clear, actionable strategies to invest with purpose, optimize taxes, and build financial confidence—without jargon, overwhelm, or guilt about your lifestyle. 

Information

  • Creator
    Carla Adams, CFP®
  • Years Active
    2026
  • Episodes
    16
  • Rating
    Clean
  • Copyright
    © 2026 The HENRY to Wealthy Podcast
  • Show Website
    The HENRY to Wealthy Podcast