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…
Goals are an interesting thing. Some believe in goal setting religiously and others shy away from it. Why? My guess is because they are scared of not accomplishing them. The truth is that we all need goals. We need something to strive for. It’s what keeps life interesting and fulfilling. Plus, how are we supposed to know what to do…
Retiring early is one of the most common goals I see from our generation. It’s an awesome idea to want to be work optional at an early age, but it also requires a lot of planning to make happen. When you retire young you won’t have social security for awhile plus you won’t be taking RMD’s from your 401(K)/IRA. This…
Optimizing your finances is a great goal. But it’s something very few people I come across have done well. Optimizing is about using the options at your disposal to maximize the dollars you have. So many people leave free money on the table. Don’t let this be you. Let’s take a look at some of the most missed opportunties I…
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…
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…
I was having a conversation the other week with a friend and they asked me this question “What does it look like to be financially healthy?” It’s a really great question and one that took me awhile to think about. With physical health, we know what it looks like: it means eating healthy, working out, getting outside, having a safe…
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…
Every personal finance social media account loves to talk about cars and how the rich drive old, beat up cars. And while this may be partially true, you do not have to do this to become wealthy (although it sure does help to have less debt and lower fixed payments). This conversation leads to many wondering how much house and…
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…