After working with over 100 millennial households over the past 4 years: I have learned many make the same costly mistakes. One’s that you can avoid by learning! Here are the 11 most costly you need to avoid. 1) Spending More Than You Make Too many people try to live lavish life styles they can’t afford. And I am going…
Real estate investing is a divisive subject. You either love it or you hate it. We’ve all seen the social media posts from people saying they don’t want to own rental properties because they don’t want to have to get a call in the middle of the night about the furnace breaking or some other annoying task. And while that does…
I was apart of the horrible Southwest cancellations in late December. And when I say horrible, I mean horrible. We were set to fly back on the 26th from Phoenix to Milwaukee with a quick layover in Denver. We got to Phoenix and both flights were on time. We were feeling great. But things started to shift during our hour-long…
It’s the start of 2023 which means there are new contribution limits for various investment/retirement accounts. This is one of the biggest jumps I have ever seen all because inflation has been super high. It’s important for you all to know these and to increase your contributions to reflect these changes. 401(K) and 403(B) Employee Contribution You can contribute up…
“What would you do if you were me?” This is the top question I get asked from friends and family. Here’s exactly what I would do if I was starting out as a millennial. 1. Get A Grasp Of Your Cash Flow Managing your cash flow always has to be step #1. If you cannot live on less than you…
A huge part of doing good financial planning is risk management. You can build up all the assets you want, but if you lack the proper risk management, it will mean nothing. You could lose it all. So what are the biggest risks you face and how do you protect them? Let’s dive into it. 1. Being unable to work…
Some people enjoy their jobs so much that they will continue to work well into their 60s or later. And others… well they would retire today if they could. If you fall into the latter group, you might want to start to think about how you can hit your retirement date earlier. Here are 5 strategies to help you move up your retirement date!…
Target date funds are pretty popular these days. You may have seen them in your 401(K) investment options lineup with names like Retire 2050 or Target 2050. Target Date Funds are made to simplify things for you. They essentially let you choose one fund that is a blend of several funds. Bonds, big companies, small companies, international companies, etc. will all…
Most millennials lack organization when it comes to their finances. They have no idea how much they spend or on what and that leads to very little saving in the long run. Here’s the good news, this is fixable. You just have to setup an automated financial system. Here’s how 👇 Creating an automated financial system sounds more complex than…
“Don’t contribute to your 401(k), that money will be locked up till you are at least 59.5.” I am guessing all of you have heard this by now… And It’s funny, the people who give this advice are normally selling a different product. Shocker… Anyways, here’s why it’s wrong. For those that do not know, your 401(k) is a pre-tax…