Fri, 29 April 2022
You know you love the Roth IRA!
What’s NOT to love about free tax money?
Sometimes it is nice to get that tax deduction.
There is a pre-tax retirement tool called the SEP IRA - we are going to answer a reader question today about the SEP IRA.
The question: “I have a question about the SEP and Roth IRA - if my employer does not offer any type of retirement benefits, but I do have a Roth IRA from a previous employer - I am regularly contributing to my Roth IRA - also I would like to contribute to a SEP or Simple. Can I contribute to each without penalty? I am above the age of 50, what is the best route for me to contribute without getting a penalty/
I have spent a lot of time answering questions about the Roth IRA, but this one is unique. He is asking if he can have a SEP and a Roth.
Resources: Distribution Rules for SEP IRAs Rules and Limits to Open a SEP IRA for 2022 |
Wed, 27 April 2022
It’s a good day when we have a Good Financial Cents subscriber that is interested in ‘tax free money.’
That tells me you are listening and ready to take charge of your life.
Today’s question comes from Aaron:
“I am 28 years old and I keep hearing how much you love the Roth IRA. I am finally ready to get one but I am not sure which will give me the highest return - should I go with a bank or one of those online brokers?”
I would like to point out that a Roth IRA is not an investment, rather it is an investment tool. You are not buying a Roth IRA, you are opening a Roth IRA account and putting investments into that account. 04:27 Take advantage of those tax free benefits Resources: https://wealthhackerlabs.com/ask/
Check out my YouTube channel here. Follow me on Twitter and Instagram.
Direct download: Episode_154_-The_Best_Roth_IRA_Investments_for_long-term_wealth.mp3
Category:general -- posted at: 12:57pm CDT |
Mon, 25 April 2022
Ep. 153 - He Gave Away (over) $1 Million Before the Age 40 - Giving Away 44% of His Income This Year
Many people are familiar with the ‘FIRE’ movement. Fire stands for:
Financially Independent Retire Early
If you are a FIRE advocate, you are saving large amount of your income - 30, 40 or 50% (or greater). People on the outside can’t understand how you can save so much.
If you have a hard time understanding how someone could save 50% of their income, imagine someone giving half of their income away!
I’m doing to introduce you to Bob Lotich who is giving away 44% of his income. He has given away over a million dollars by the time he turned 40. 04:03 One Year Sabbatical 06:15 The ‘Aha’ moments 10:15 How did it feel when you started giving? 19:04 At what point was 10% not enough for a tithe 22:45 What is your take on true financial freedom 25:18 How hard was it to increase the % you were giving each and every year? 27:08 How do you make your contributions automatic? 30:01 What is an example of a situation or a person that you are able to plant the seed of giving? 33:06 How do you encourage someone to start giving, even if they do not feel able? 34:50 What message do you hope readers will get out of your new book Simple Money Rich Life?
Resources: https://wealthhackerlabs.com/ask/
Check out my YouTube channel here. |
Fri, 22 April 2022
You have hit a crucial investing milestone. Congratulations!!
You have $10,000 and you want to invest - but where? What? There are so many options.
Don’t worry, I’ve got you - with 17 different investment ideas.
03:48 High interest/high yield savings account 04:59 Auto-pilot investing 06:52 Real estate 09:22 Dividend paying stocks 11:33 Cryptocurrency 13:13 Investing in home renovations 16:42 Coaching program 14:41 Your credentials 18:19 Get a license (real estate or life insurance) 18:33 Get a degree 18:49 Online Courses 20:58 Start a business 20:58 Open a Franchise 21:50 Start a podcast 21:50 Start a blog 22:22 Reselling on Amazon FBA 23:36 Pay off debt
Resources: How to Invest in Dividend Stocks https://wealthhackerlabs.com/ask/
Check out my YouTube channel here. Follow me on Twitter and Instagram.
|
Thu, 21 April 2022
Let me know if this sounds like a dream come trie:
You can purchase a safe investment, guaranteed by the government, and make almost 10% return. (Does that exist?)
I’m sure you saw the headline last week that said in March the CPI is up 8.5% from 1 year ago. That is the fast annual gain since December 1981.
What does that mean?
CPI is a measure of the price of goods and services we purchase - it is a measure of inflation.
01:54 Areas with largest increase in costs. 02:46 Inflation hedges 05:14 Safe investment that will yield almost 10% return 08:40 Is there a catch/limitation? 09:50 Holding I Bonds 10:37 Should you buy now or later?
Resources: 5 Best Hedges in the Face of Inflation Best Low-Risk Investments for 2022 https://wealthhackerlabs.com/ask/ https://apple.news/ArdYM3JWWRp2yGjCjaYuZNQ Check out my YouTube channel here. Follow me on Twitter and Instagram.
Direct download: Episode_151_-_I_bonds_and_inflation_.mp3
Category:general -- posted at: 10:21am CDT |
Mon, 18 April 2022
What would you rather have, 1) a backyard paradise or 2) an investment that pays dividends for life?
You probably need more context to truly answer this question.
I saw a lot of people on twitter talking about investments with VOO (Vanguard 500 Index Fund ETF), this prompted me to make a tweet of my own.
I tweeted a picture of our backyard which included our pool and the poorhouse / my YouTube studio. This was the caption ‘I could have bout 1400 shares of VOO but decided my backyard paradise was a better investment - lifetime memories = generational dividends.’
We decided that we wanted to invest some money into a pool which grew into a pool house, an interruption free studio for video recording, and some space for guests to stay when visiting.
We are very happy with our decision and we have already made so many memories in this space.
How about you? Is there anything that you have purchased that you feel will have generational dividends for you and your family?
Check out my YouTube channel here. |
Fri, 15 April 2022
$12,283.00
That is how much it costs to get three of our kids braces.
Well, 2 got braces and 1 got Invisalign.
Today we are going to talk about:
Check out my YouTube channel here. |
Wed, 13 April 2022
When you are a certified financial planner there is a lot of pressure when I reveal my investment portfolio.
My returns should be phenomenal - like 2-3 times higher than the average investor.
Regardless, I am about to share my returns on not one but two M1 Finance accounts with you.
It has been so long since I’ve logged into my M1 Finance accounts..I am almost afraid to look.
I hope this walk through of my accounts will show you just how easy it is to set up an account and start investing with M1 Finance.
03:09 Quick overview of M1 Finance
Resources: M1 Finance Review – Revolutionizing Robo-Investing https://wealthhackerlabs.com/ask/
Check out my YouTube channel here. |
Mon, 11 April 2022
If you are in the process of trying to buy a house, you know how crazy it is right now.
Especially if you live in an area with a high demand, like here in Nashville, TN.
You are either paying way over market value or using some unconventional methods to find a house.
I want to share a story with you about a couple, friends of mine, that were searching for a house to purchase after moving to the Nashville area.
After months and months of working with a Realtor they were getting absolutely nowhere.
Resources: https://wealthhackerlabs.com/ask/
Check out my YouTube channel here. |
Fri, 8 April 2022
“In the last 8 years we’ve had 4,000 people come through the flipped lifestyle community.” This is from an interview I did with a good friend, Shane Sams. They have an amazing story! Shane says he even has to pinch himself to make sure he isn’t dreaming. Tune in for the full story of how Shane and Jocelyn quit their jobs and flipped their life.
Follow me on Twitter and Instagram.
Resources: https://wealthhackerlabs.com/ask/ 14 Legit Ways Real People Make Money on Facebook Here Are the Best Online Jobs to Make Real Money
|
Wed, 6 April 2022
Two Million Dollars
That is a lot of money. (When I say that I can’t help but think of Dr. Evil saying ‘One Million Dollars.’)
Today we are not talking about how to make millions or how to invest millions - we are talking about protecting your family.
If something were to happen to you, does your family have the means to maintain the lifestyle you live now?
How do you know how much you’ll need?
Tune in and I’ll walk you through the process of picking a policy that works for your family and how much it will cost you.
Check out my YouTube channel here. Follow me on Twitter and Instagram.
Resources: https://wealthhackerlabs.com/ask/ The Best Life Insurance Companies for 2022 How Much Does a Million Dollar Term Life Insurance Policy Cost? |
Mon, 4 April 2022
Are you tired of learning about ways to make an extra $1,000 per month?
I hope not!
I am excited to continue this series with the final 10 ways I want to share with you.
01:36 #21 Creating an online course
Check out my YouTube channel here. Follow me on Twitter and Instagram. Resources: https://wealthhackerlabs.com/ask/
|
Fri, 1 April 2022
We are still talking about how to make an extra $1,000 a month on the side (or take it to a full-time gig if you like.
We covered the first 10 ways to make that $1k/month in Episode 142. We are going to dive right in to #11 and beyond today.
01:25 #11 Podcasting
Check out my YouTube channel here. Follow me on Twitter and Instagram.
Resources: How To Make $1,000 Per Month in Dividends Best Items for Garage Sale Flipping for Fun and Profit $0 to $1000 a Month with Amazon FBA 7 Rules I Learned After Going Broke in Real Estate Investing |
The Good Financial Cents Show w/ Jeff Rose, CFP®
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