If you’re looking to save money on healthcare costs, you might have heard of Health Savings Accounts (HSAs). HSAs are a popular option for many people, but what exactly are they, and how can they benefit you? Oftentimes I find millennials mixing up FSA’s (flexible spending accounts) and HSA’s. FSA’s are a great option for those who want to contribute,…
Category: Millennials
How To Use Money To Make You Happier
Growing up, we often heard that “money can’t buy happiness.” While I understand the why we were told this, I don’t fully agree with this statement. It’s true that buying material possessions like a fancy car, designer clothes, or a luxurious house won’t necessarily lead to happiness, especially if you lack meaningful relationships in your life or people to share…
How To Know If A Rental Property Is A Good Investment
Almost every millennial I talk to wants to get started investing in real estate. It’s a great goal and a great way to build wealth when done right. However, you cannot just go and buy any rental and think it’ll work out numbers wise. You have to do the math both on new and existing rentals to ensure they are…
You Don’t Know What You Don’t Know
This is going to be a short but powerful one this week. Whether it’s finances, health, business related, etc. one of the hardest things to fathom is that you don’t know what you don’t know. You not only have biases and blindspots that can lead to mistakes, but you also have a lack of information as well. When you don’t…
What We Can Learn About Retirement From Athletes
They say an athlete dies twice: once when they retire, and once when they pass away. What they mean by this quote is that athletes, who have dedicated their lives to their sport, face a difficult transition when they retire. From a young age, their focus everyday has been on training, competing, and striving for the next level. Then suddenly,…
Do You Need A Financial Plan Or Financial Planner?
I find myself having the same conversation with almost every prospective client, and I’ve realized that it’s a topic I’ve never written about before, even though it’s an extremely important one. Many people in my industry believe that everyone needs an ongoing relationship with a financial planner. However, I disagree. Consider the health and fitness industry and the different needs…
Why You Need To Know About The Pro Rate Rule (If You Are Doing The Backdoor ROTH IRA)
The Backdoor ROTH is one of the most commonly used strategies out there. Over the years, I have heard so many people say “I make too much money to do a ROTH IRA.” And while this is true, there is a loophole, it’s called the backdoor ROTH. Many people today know about it, but many do not understand all the…
The Most Debated Personal Finance Topics (And My Opinions On Each)
I’ve spent over 1000 hours creating personal finance content. These are the most debated topics: This is the framework I use to address these topics (and my opinions on each): 1. Rent vs Buy I think we all grew up hearing about home ownership. I mean it’s the American dream right? And It’s the best investment we will make in…
11 Most Costly Mistakes Millennials Are Making That You Can Avoid
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…
The Benefits Of Owning Investment Properties
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…