The most underrated wealth hack? An HSA. š° Itās not just for medical bills ā itās a triple tax-advantaged account (yes, triple): 1. Tax-free contributions 2. Tax-free growth 4. Tax-free withdrawals (for qualified medical expenses) Invest your HSA, let it grow for years, and use it for future health costsā¦
From day one of marriageāeven when brokeāthis couple chose to combine all finances (bank accounts, brokerage, savings), and they still do. The speaker believes shared finances help build trust, alignment, and long-term success, with retirement accounts being the only exception for legal reasons.
This Country Has the Richest Households ā and Itās Not the U.S. These are the countries with the highest average net worth š°š But here's the twist: Averages can be wildly misleading. In the U.S., the median net worth is way lower than the average ā which means most peopleā¦
In this episode of the Personal Finance Podcast, we are going to talk about 22 things broke people waste money on. How Andrew Can Help You: Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here https://bit.ly/3RSGhUH Learn toā¦
What Is a Target Date Fund A target-date fund is a simple investment designed to grow your money until a specific retirement year, like 2050 or 2065. You pick the fund closest to the year you plan to retire, and it automatically adjusts for you over time: Starts out aggressiveā¦
Most People Donāt Understand Their 401(k) Match ā Here's Why Thatās Costing Them If you make $50,000 and contribute 6% to your 401(k) = $3,000 If your employer offers a 50% match = $1,500 free Thatās a guaranteed 50% return ā better than any investment. And some companies match 100%.ā¦
In this episode of the Personal Finance Podcast, we are going to talk about should I take on debt to start my dream business on the side? Today we are going to answer these questions: Question 1: Should I risk $40K from my home equity to launch my dream tutoringā¦
The 3 Best ETF's For Beginners! If you're just starting out, picking your first investment can feel overwhelming. You donāt need to pick stocks, time the market, or become a finance expert. You just need a few simple ETFs that give you instant diversification, low fees, and steady long-term growth.ā¦
The Average Roth IRA Balance By Age Might Surprise You Most people assume they are behind because they see others flaunting success But the truth is, the average Roth IRA balance is lower than you think across every age group That means: -You are not behind -You still have timeā¦
Retirement Isnāt an Age (Itās a Number) Most people think retirement happens at 65. Wrong. It happens when you hit your freedom number. š Step 1: Figure out how much you want to spend each year in retirement. š Step 2: Multiply that by 25 (the 25x Rule). Example: $80,000/yearā¦
What Is a Brokerage Account? A brokerage account is an investment account that lets you buy and sell assets like: -Stocks -Index funds -ETFs -Bonds Itās the most flexible way to invest because: ā There are no income limits ā You can withdraw anytime (though there may be taxes) ā ā¦
Think you're behind on retirement? Letās talk 401(k)s. Most people donāt realize how little the average American has saved for retirement, especially in their 401(k). The truth? The average balance by age is much lower than you think. That means: -Youāre probably not as far behind as you feel -Mostā¦
In this episode of the Personal Finance Podcast, we are going to talk about the five Side Hustles that can turn into a full-time business, part two. How Andrew Can Help You: Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or lessā¦
What Is a 401(k) and How Does It Work? A 401(k) is a retirement account you open through your employer. It lets you invest before taxes are taken out of your paycheck, which means you save more and pay less in taxes today. Hereās how it works: š You contribute:ā¦
What is the average net worth BY AGE? Most people have no idea what their net worth should be, so they never check. But hereās the truth: Your net worth is the best snapshot of your financial health. Itās not your income. Itās not your credit score. Itās what youā¦
In this episode of the Personal Finance Podcast, we are going to talk about the 9 things you need to do to become a millionaire next door. How Andrew Can Help You: Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or lessā¦
How to Start Investing with Just $100/Month Think you need thousands to invest? Nope. $100/month is all it takes to get started. š Step 1: Open a Roth IRA or a brokerage account (Fidelity or Vanguard are great). š Step 2: Automate a $100/month deposit. š Step 3: Buy low-costā¦
Most people think they're behind financially. Plot twist: you're probably doing better than you think. The Instagram economy convinced us that if you're not buying avocado toast AND a house by 25, you're failing at life. Most "successful" people you see online are either lying, lucky, or leveraged beyond belief.ā¦
Ask This 3-Second Question Before You Spend a Dime Before you swipe your card or hit āBuy Now,ā pause and ask: š Does this help me achieve my goals? š Does this truly bring me value? If the answer is no ā walk away. This tiny habit stops impulse spendingā¦
Save 1% More Every Month - Watch How Fast You Build Wealth Most people think they need huge sacrifices to get ahead. Wrong. Start small. Increase your savings rate by just 1% each month. If youāre saving 5% now, bump it to 6% next month. Then 7%, then 8%... youā¦
As net worth grows, where people store their wealth changes. $100Kā$1M: Mostly in retirement accounts and homes $1Mā$10M: Retirement + businesses $10M+: Mostly businesses Wealthy people avoid putting significant money into cars, focusing instead on assets that grow.
Most lower- to middle-class people make the mistake of putting too much of their net worth into cars, which are depreciating assets. If you want to build wealth, donāt sink your money into something that loses value the moment you drive it.
Cut. Identify. Automate. ā Cut your unnecessary expenses. ā Identify where those extra dollars should go ā savings, debt payoff, or investments. ā Automate it so it happens without thinking. This simple 3-step system turns wasted money into wealth. Set it once. Let it work forever. Follow @mastermoneyco for more!ā¦
Before buying a home, run the numbersāspecifically, calculate the Total Cost of Ownership. That includes closing costs, homeownerās insurance, and moreānot just the price tag. Too many buyers underestimate the real costs of homeownership.
