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…
Are you looking for a way to take your income to the next level? Look no further- today we share 5 “Income Accelerators” with you. Jeff Rose is a Certified Financial Planner and founder of the award-winning blog GoodFinancialCents.com. He went from over $30,000 in debt to becoming a multi-millionaire by working tiredly to perfect ways to increase his income…
Managing cash flow is hard enough when your income is regular. Now add in the complexity of being a soloprenuer with irregular income, and you can see how that would be difficult. I currently work with some people who make 75% of their revenue in just 2 months a year. This irregularity creates complexity within your cash flow. In this…
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…
People continue to ask me what models/ways there are to work with me, so I figured it was time to put out a blog post explaining each option, the price, who it is right for, and what you get within each model since we have made some changes within our firm. Here are the 3 different ways you can work…