How I'm Investing My Money in 2023

[@brianacostafuller9365]

You know you could work for 40years just to save $1M in your retirement. But mean while some people are putting thousand in investment and now they are multiple millionaire.. we all just have to try out owning a diverse portfolio..

[@alokm4451]

Rachel is getting there with her own show. Carving her own niche, great attempt. She will do well as long as she is grounded and keeps up with her knowledge of finance, politics, the world etc. investment is a multi factorial thing. You can’t learn it in business school.

[@IA-py9by]

People invest in the eternity...you will never regret!..

[@Jlcdb71816]

I love how relatable and personable you are Rachel!!! ❤ Thank you for your transparency.

[@jessstimpert6781]

To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Julia David focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.

[@henrysimon7213]

I'm surprised you know her too, I've been making a lot of profit investing with her for a few month now.

[@tessbakker7549]

I invest with Mrs Julia David too, She charges 20% commission on profit made after every trading session which is fair compared to the effort she put in to make huge profits.

[@marklingard7705]

Do you mind hooking me up with her, I'm new at this.

[@jessstimpert6781]

She's on telegrams. with the user name below

[@jessstimpert6781]

juliadavid723

[@karynm3365]

Thanks for these awesome investing and wealth building strategies! We're still working on Baby Step #6, hopefully we'll have our home paid off within 4 years. Hooray!

[@katyedwards3935]

We too got a second property in foreclosure which was riddled with problems including mold, bugs and mice droppings, but we paid to get it renovated and it turned into a beautiful little cabin which we sold back in 2019.

[@clinthibler1576]

Best one I've seen to date on where and how great info Rachel

[@josebarronjr5838]

Thank you for sharing this informative and helpful video!

[@chadbailey7038]

Thanks so much for sharing! Very motivating 🤩 🙌🏾

[@YesThatsMeFolks]

This is so useful! Thank you so much for sharing! ❤

[@dickietalmage7918]

Rachel, that was so helpful. My husband and I are retired. Debt free and need guidance on investing. Baby step 7.

[@dickietalmage7918]

We have retirement from our jobs. Doing the budget and money to invest. We have Roth ira's. We don't have to touch them since being on Everydollar budget.

[@austinhannemann2615]

Great content as always

[@seekingtruth9677]

love you and your dad so much thx you

[@jayclarke9546]

Some good ideas shared, thank you very much

[@debbieweibley3899]

I'm on baby step 3. 3 to 6 months emergency fund.

[@annahopp]

I love the January backdoor Roth IRA idea.

[@AncientMarinerNY]

I'm not sure if it is a good idea. It is close to trying to time the market on every January. Dollar cost averaging the previous year might be better. Not 100% sure, I'd have to look into it.

[@drewseaver4531]

@@AncientMarinerNY is is really timing the market if it's just a consistent, one time yearly sum?

[@andreawinn9420]

I love this info. Could someone from your team create a whole class on investing? It would be so helpful!

[@thedopplereffect00]

They don't want people buying low cost index funds on their own. They need to make money from ELP referrals

[@Helena-ou8ry]

I teach my kids about investing through gardening! The trees are the dividend stocks, the seasonal plants are non dividend ( the have to harvested to get returns/ like in real life these shares need to be sold) it also teaches preservation of capital (seeds), risk if not diverse (bugs wipe out your whole crop), and the value of knowledge and learning.

[@katyedwards3935]

​@@Helena-ou8ry Good idea.

[@donnaallgaier-lamberti3933]

What I feel is those that are fortunate to have good health and be able to work fulltime and earn. I spent my life ill and unable to work fulltime and that made a difference in everything....

[@dianatee466]

Very helpful. Thank you

[@BadPhD777]

Finally a Ramsey telling people to max out their HSA and not touch it until retirement! This information needs to be included in FPU!

[@lsnider59]

I need more information on what a HSA is.

[@BadPhD777]

@@lsnider59 You can open an HSA only if you have a high deductible health plan.

[@lsnider59]

@@BadPhD777 thanks for the information

[@MultiTlp]

@@BadPhD777 so, I'm guessing if you're on medicare, you wouldn't qualify?

[@BadPhD777]

@@MultiTlp That is correct. You can't open an HSA if you're on Medicare.

[@crystalsecor6403]

How do you have an HSA if you have Christian Healthcare???

[@mationinfo]

Don't be a fool. Leave religion out of here and use your God-given brains.

[@picturebiblestories-yy5di]

Perfect is, perfect does.

[@JJPJack]

I think you should save all the money to max out a roth ira but invest once a month to dollar cost average better than once a year in a lump sum

[@TheOnlySgtRock]

I thought the same thing, especially these days.

[@montalbano153]

Diversifying my investments into different asset classes maximized my income for me. My weekly income increased to over $30,000 when I started investing in dividend stocks, index funds, cryptocurrencies, REITS, and stocks From various sectors in the market.

[@jamesoey6359]

Diversification is definitely key, a lot of people think having an account where you put money aside on a monthly basis is actually investing, but they don't know that that is just saving! Investing means long term, it means exposing your funds into different asset classes and not just cash but rather inflation beating asset classes. It's a process and it takes patience.

[@montalbano153]

@@jamesoey6359 I absolutely agree, investing is definitely not a walk in the park , it’s a process that requires patience and a lot of discipline too.

[@rachelarschin3446]

My husband and I have been trying our hands on investing in stocks and real estate, now managing those investments has been very challenging for Us, how did you get it right in terms of managing your investments?

[@montalbano153]

@@rachelarschin3446 I avoid doing my investment management alone to avoid mistakes. I prefer working with investment advisers, my current one I William Stanley and he’s very experienced in portfolio management.

[@rachelarschin3446]

Thank you, I’m not quite familiar with how to find experts in the market, I’m new to this whole thing. How can I reach William?

[@thomasg.109]

You are fortunate to be working for your fathers company, most don’t have that security of never worrying about being downsized or losing a position. I’ve worked for over 24 years to be at baby step 7, many years working for a multi-national organization without any real job security. Your family is very fortunate, glad y’all have done so well.

[@irynariggs8316]

Hi Rachel, can you please explain how I would switch from Wells Fargo bank to a bank like Ally or any online bank? I want to switch so I can get a high yield savings account at the same time.

[@richeyrich2203]

You just open a new account and then initiate a wire transfer from the old bank to the new bank and then close the old account. Easy peasy

[@stevieray9446]

What is the ticker symbol of the stocks, bonds, or mutual funds that your in?

[@tiptrack]

informative!! I think diversification portfolio will make safe your money

[@livingunashamed4869]

Good breakdown :). I'm currently doing 401k match and maxing out roth ira and contributing a little to HSA.

[@she_habbers]

🎉😢😢🎉🎉🎉

[@hounslowparks2469]

Growth stock mutual funds...Boom! Video length 20 seconds.

[@birdsaloud7590]

What if you rent your home and don’t own your own house? How do you do babystep 6?

[@sXePunkV2]

Baby Step 3B is saving for a house deposit (if owning a home is a goal for you)

[@leahmcdermott4189]

Ideally, you would have done Baby Step 3B which is saving for a property. Or even if you skipped that step, buying a house is always something that will be advocated on this plan (even later on) so you don’t have to worry about retirement and money as you won’t have a mortgage by the time you retire as you would have payed it off (Baby Step 6) 💕

[@livingunashamed4869]

Wow they are investing close to 70k a year at least thats amazing.

[@mattcollins4550]

You're so much more pleasant to listen to than your dad. And you give much better investing advice too!

[@melissawerling8089]

How do you set up HSA? I have asked my bank, and they say I make too much money

[@Kornheiser10]

I'm very surprised that Rachel can invest in a Roth IRA due to salary limits. Also, in order to use a HSA you can only have a high deductible health insurance policy, so that must mean Ramsey Solutions doesn't provide good health insurance. Cmon Dave, give employees better health coverage.

[@nae4830]

I’m surprised. The cap salary in 2022 to contribute to the Roth IRA is less than $144,000. I doubt you and Winston don’t make more than that. Advice on that would be interesting. For people who make more than that amount.

[@thedopplereffect00]

They used a technique called a "back door Roth".

[@lockheedload]

Nothing to be surprised about. People have been doing back door Roth conversions to get around that rule for many many years.

[@leahmcdermott4189]

$144,000 (2022) was the limit for single filers but if you’re a married couple filing jointly, the limit was $218,000 (2022). But combined they do make more than that, which is why they do a *Backdoor Roth IRA* which is basically the same but designed for high income earners that are above the standard Roth IRA limits 💕

[@tannercc]

Higher earners use a 'Back Door Roth IRA'

[@joshualantz8915]

What do we think her net worth is???

[@MooMoo69556]

Oh please, she’s gonna live off Daddy’s money when he croaks 😹

[@metaltera86]

Oh yeah Rachel as if you need to worry about your future if you DIDNT invest lol

[@stuartdavis83]

They do a back door roth because they make more than $200k a year.

[@robins3206]

How do you invest money that you've contributed to a 401K?

[@bmmk12]

You've got to log in to your brokerage and invest!

[@dacokc]

Yup! Find a way to log in.. Your stuff my by set to a target date fund by default.. get out of that if possible. Move to an SP Index at the very least..

[@TheOnlySgtRock]

@@bmmk12 Unless you're being snarky, I'm pretty sure he was looking for what funds, etc.

[@EricMoore-ze2rf]

I will invest by being single

[@rayfusion]

I mean come on, is anyone even surprise?

[@cynthialopez9950]

I’m curious so does that mean her rental home is paid off??

[@gabrielaobregon3533]

yes, they paid cash for it

[@tammiemonahan9644]

Good morning! Thank you for this video. I was talking with my sons about your videos on investing and they are both skeptical about putting money into long term strategies, as they feel it will not be safe. Do you have any advice for them where they can look into some short term investing/saving? And I'm 55 and have no retirement set up ... HALP!

[@thedopplereffect00]

Given who her dad is, between her and her husband they must be putting away $152,700/year in tax advantage accounts.

[@mationinfo]

Don't compare yourself with others. As a single dad with two kids, I am doing what she is doing. I am NOT a son-in-law to Dave Ramsey. Say the course, and you will win. There is so much love out there. No fear. You decide your tomorrow. So make wise choices. Remember this. When you are healthy, you are wealthy.

[@AlphaShadowSphere]

That is an oddly specific number. How did you come up with it? Even with 2 401ks, IRAs, and an HSA I think you'd struggle to put that much away every year

[@thedopplereffect00]

@@AlphaShadowSphere it is the max sum of all those things you mentioned for 2023

[@donnasoroka7197]

I don't quite understand the comment about putting money aside all year to invest in January the following year. I thought - according to Dave - the money you have for investing should be invested, not simply held. It also sounds a little like market timing to dump a large sum into the investment account all at one time and nothing on a regular basis. Maybe I'm just not quite understanding what Rachel does with the money she puts aside. Any explanations for a dumbie?

[@dkaik]

Essentially she’s talking about getting a year ahead in funding your Roth IRA. I know it’s changed, but assume a $6000 limit you’re allowed to contribute for each tax year in your IRA. If you’re able to find that throughout the year ($500 each month) but also save 500 extra each month, at the beginning of next year, you’ll have another $6000 you can contribute for the next contribution year. And from there, it’s just a matter of saving the $500 monthly to set aside each month (becasue You alewife funded your IRA for the entire year at once), and contributing the next full 6000 at the beginning of the next year. That way, you can lump sum your money to fully be in the market asap. And of course the math changes yearly with what limits the government decides on any given time.

[@babtech]

Wordy and Purdy

[@WilliamIsCool15]

IRA, Roth Ira, 401k are all going down this year. I get what you are doing, but the market in general is going down. Get a 5% interest rate savings account or learn how to trade NRGD and NRGU with Drip and Gush and the stocks that make up nrgu/nrgd as indicators

[@Sam1628]

You need to get off tick tak

[@drewseaver4531]

welcome to investing 101 where the market has good and bad years since it's inception but overall grows.

[@trebmaster]

The HSA thing has been HUGE. People don't realize how much of a game changer it is. 100%

[@dacokc]

I need to look into it more. Would you contribute to it before maxing out Roth IRA though?

[@AncientMarinerNY]

​@@dacokc HSA is completely tax free if used for medical expenses. Not tax-deferred, tax free, you contribute with pre-tax dollars and you don't pay taxes on earnings if you use it to pay for qualified medical expenses! Better than any other retirement account. The real question is, can you afford a High Deductible Health Plan. Some people can't afford the risk of a 2K Deductible with 4k max out of pocket and contribute to an HSA on top of that.

[@ashleyross5874]

❤

[@jessiepeters3946]

No Brokerage acvount??

[@TheOnlySgtRock]

I'm guessing they probably have a brokerage account but it is just for saving up for their next rental.

[@evalina98000]

👍🏽

[@bmmk12]

That was really boring! All she did was list off retirement accounts!

[@TheOnlySgtRock]

Yeah the title led one to believe "I'm investing in bonds or I'm out of the market and in CD's", etc. It was less than I was hoping for.

[@400hpmustang]

I wouldn't buy anything right now, no one will prosper under this administration.

[@dmitry-tv]

"I DON'T UP MY LIFE STYLE" Yeaa. You just bought Tesla

[@HanzShaoPing]

Lol, it looks like you are wearing your old retainers as earrings.

[@WeBeatMedicare6969]

65 year old Rachel is gonna still be living off Dad’s millions soooooo

[@ihaveadreamformykids4400]

Her earrings look like dentures 😅

[@dacokc]

Or some kind of dried fruit..

[@MarielaInspires]

That’s the new style ❤

[@lyonk-tz8qf]

HSA, 401k, IRA, these are not investments!

[@dacokc]

They are investment vehicles..

[@TheOnlySgtRock]

@@dacokc The title didn't say "investment vehicles". I think some were hoping for more details on what position percentages.

[@princekiki33]

Most women are natural spenders not savers

[@stephenayriss5049]

You do know you can invest, and your money can lose money right?

[@TheOnlySgtRock]

I pulled my money out of the Market a year ago and saved myself from last years loss. I'm still losing to inflation but not nearly as bad. I am waiting for signs that the market is improving before I re-invest. I haven't seen anything that suggests that is going to happen in the next 12 months. In fact I hear much the opposite, some suggesting another 20% correction this year.

[@ask4selfhealthhealing705]

Great. Whatever you said, I have. Go to FPU, learn to build wealth

[@JonathanIvy221]

I mean all of Dave’s wealth will go to Rachel one day. Doesn’t really matter if she saves or not.

[@affordableliving2756]

It does, his will writes people out of it if they don't act accordingly. The money is in trust.

[@dkaik]

HSA? Your dad is too cheap to get y’all a better health plan and not force high deductible plans on you?

[@TheOnlySgtRock]

Actually, if you are mildly healthy and if your company contributes to your HSA for you, having an HSA plan is a better alternative than other options.

[@dkaik]

@@TheOnlySgtRock I’ll take my low deductible plan my employer pays 100% for.

[@TheOnlySgtRock]

@@dkaik The only problem with that is that if you are healthy you aren't getting the additional option for tax free savings for the future.

[@dkaik]

@@TheOnlySgtRock True. But I’ll gladly take the difference invested in a different non-HSA vehicle, whether it’s additional 401k contribution if it’s not already maxed or even a taxable if that’s all that is left. I prefer the option to make it easier to use that money for non medical related expenses, even with trading that for tax free contribution/growth/withdrawal. And the moment you use that HSA money for non medical expenses past 65, you lose out on that benefit anyway, having it taxed as income. I’ll take the “liquid” growth to not have my cash beholden for solely medical expenses