Ideal Order Of Investing For High Income Earners

[@TaeKimFinancialTortoise]

► Download Your FREE PDF 1-Page Compansion Guide - Ideal Order Of Investing For High Income Earners: www.financialtortoise.com/ideal-order-investing-high-income

[@hakune4724]

Hi Tae Kim, I put down my email address and still haven't received the 1 page pdf file. could you please double check ?

[@unitymind]

yes, mine went to your guide again and not the 1 page. (I will delete comment, just advising)

[@robienillosistoso628]

Hi Tae, your vids is very inspiring. You mentioned in one of your vids your PLR, wondering where I can find those? Thanks so much.

[@supersat]

Seems like the video thumbnail gives you the same information

[@robertvaldivia2405]

Question. I receive a bonus in January, I’m wondering if it’s best to max out my 401k with said bonus? @taekimfinancialtortoise

[@Orangecatty]

As a high income earner of proud $7.25 an hour, I find this video very useful

[@alexlee8617]

Plenty of places offering more than 7.25; oldest son-23 making 3x that as a carpentry apprentice. I make 7x and wife makes 20x; that's why I am watching...

[@kenyonbissett3512]

Actually, it can be. Even Walmart offers ESPP to $7.25 wage earners and a 401k. An emergency fund is essential. Don’t acquire high interest interest debt. If you make $7.25 an hr, don’t invest in a 529, plan for them to live at home and pay as they go. They should be able graduate in 4 yrs. Yr1 - free using CLEP online courses. Yr 2 - community college, work $5k + $2k parent tax credit =$7k, tuition $7k. Work full time for 15 months earn $18.5k, keep $16k. Yr 3 - tuition $11k -$2 parent tax credit - $9k savings=$0. Yr4 - work summer $5k + $7k savings=$0 debt. Ready to go. Your contribution is only the $2k federal tax credit and they live at home free.

[@firefeethok_tui2355]

Amazon delivery is $20 hr. Easy hrs, flexible. Go do it!

[@stevencats7137]

@@alexlee8617someone’s gotta do it. Sad that our solution in 2023 is “don’t do it, let someone else do it”. Nobody should earn 7.25 anywhere, period.

[@Vgallo]

@@alexlee8617 if you think people can just choose to earn more money then you have no idea how much you don’t understand.

[@Aarrenrhonda3]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[@Rachadrian]

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.

[@Dantursi1]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2022 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.Read more

[@CindyValenti]

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help

[@Dantursi1]

Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@CindyValenti]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

[@Pambegay]

A couple of years ago I considered getting into a Roth IRA and 401k without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. A few years down in, I truly cannot stress enough how helpful experts in this field are! Great video brother.

[@Pambegay]

I found out that investing is not rocket science. Jonas Herman is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (index funds) for the short term etfFs, and Roth Ira for the long term. Now I sit back, and just reinvest at intervals while I handle my other businesses.

[@Pathston]

Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward.

[@Freddyyyy266]

People often mistake hubris for actual knowledge in the finance sector and I don't even blame them because there's an influx of false info on the internet today. Unfortunately, it hampers rational decision making. He is one of the bright ones, providing me with a great deal. Indepth investment strategies are just one of the many components.

[@Vikturneer]

I just clocked 48 and I'm hoping that it's not too late for me. Can you introduce me to him?

[@Freddyyyy266]

Hermanw jonas that’s his gmail okay

[@camille_ann3]

This is very inspiring. I'm working on my dream and feel nothing working yet. This video made me motivated to move forward. When I was 24, my company hired a consultant to give us retirement planning advice, and I had just started saving. The class, called "Starting Strong," recommended investing in a target retirement fund aligned with my 65th birthday. That was 20 years ago, and it's the only investment I've made. What other ways can I grow my finances?

[@Joeknowsball247]

target date funds made me a multimillionaire but i also watched them drop 40% in a very short time and take a long time to recover. my best suggestion is that you seek the guidance of a fiduciary to avoid mistakes.

[@AaronTilt]

Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement

[@Joeknowsball247]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, "Judith Lynn Staufer" turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@williamJohnsonq8f]

Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.

[@AminaCasazza]

Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

[@A-krandy]

This seems like the worst period. Even the markets are very unpredictable. started investing recently when the market prices were a bit high ,today i am more than 60% down

[@GabrielZi-xr6zc]

I thought about investing in the financial market, I heard that people make millions if they know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.

[@HilaryPhan]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@GabrielZi-xr6zc]

I won't pretend to know everything, though. Her name is Marisa breton Dollard but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

[@HilaryPhan]

Thanks, I just googled her and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@xsheehee]

I usually watch most KZbin videos on 1.25-1.75x speed, but I can't with your videos. This is a GREAT THING!

[@DeannaMurray-zv]

Concluded 2023 with a 20% decline in the S&P 500, long-term investors find a promising entry into 2024. Noteworthy ETFs include: $VOO for S&P 500, $VTI for total US market, $QQQ for tech growth, and $SCHD for growth with dividends. Calculating my annual dividends, I'm thankful for $167k-attributing it to discipline and focus.

[@Erickruiz562]

Although the stock market is continuing rallying, there is a risk of reversals in the key indexes, sectors, and top stocks in particular. I advise you to consult a broker or financial counselor for advice.

[@WyattSmith-v]

I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading

[@JimmyA.Alvarez]

Smart, If i wanted to do the same with my retirement funds too, how do i get started trading?

[@JanineJ.Cromwell]

This recommendation is coming at the right time because i am literally grasping for straws atm! I verified her online and scheduled a phone call with her.

[@Kaustavpatell]

Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.

[@GaryNicka]

If you lack knowledge about market investing tactics, get advice from a financial counselor.

[@kurtKking]

@@MickyGlover I could really use the expertise of this advsors.

[@kurtKking]

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks

[@Kudeghraw]

piss it away at a nearby casino.

[@Dylan-eg8nq]

how has that gone for you? nobody can predict the future, and since this comment, you'd have missed out on gains in the S&P 500 which is currently near all-time highs

[@NicholasBall130]

I admire your dedication to educating your audience. We all aim for financial stability and a better life. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm grateful that I learned the importance of working hard for financial freedom at a young age.

[@EleanorBaker474]

In my opinion, making a smart investment is not only a technique for earning passive income, but also a profitable way of saving for future expenses. People who fail to make the proper judgments early in life often come to regret it later in life. Nonetheless, investing alone can be difficult and risky. As a result, I recommend obtaining an expert’s assistance. The challenge is not just watching videos and reading investing books; it is about implementing information effectively.

[@StocksWolf752]

I’m a contractor, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary actively restructuring my portfolio for the past 7 years now to match the present market condition and that’s how I’ve been able to stay afloat, knowing when to buy and sell…maybe you should do the same.

[@StacieBMui]

Could you kindly elaborate on the advisor's background and qualifications?

[@StocksWolf752]

The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name, She's established.

[@VictorBiggerstaff]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@BettinaBischof]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

[@CharliesMcCormicks]

The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.

[@JoeWilmoth-k2w]

@@CharliesMcCormicks Inflation is gradually going to become part of us and due to that fact, any money you keep in cash or a low-interest account declines in value each year. Investing is the only way to make your money grow. Unless you have an exceptionally high income, investing is the only way most people will have enough money to retire.

[@BettinaBischof]

@@JoeWilmoth-k2w How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@JoeWilmoth-k2w]

@@BettinaBischof The beauty of MARGARET MOLLI ALVEY approach is her dual focus: while aggressively pursuing profit opportunities, she's equally tenacious about shielding investors from potential pitfalls. It's a balance few can achieve.

[@BettinaBischof]

@@JoeWilmoth-k2w Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible.

[@Susanhartman.]

My strategy has always been to invest 25% of my income in the stock market at the beginning of each month. The second part of my strategy is not to sell for at least 5 years, but recently my portfolio has suffered major decline about $150k in losses. What can I do please?

[@mikegarvey17]

Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. which may reduce your dividend gains or income, speaking to a certified market strategist can help with pointers

[@mariaguerrero08]

Agreed. It's always wise to be proactive and consider diversifying our investments to manage risks in uncertain economic times. I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid corona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments

[@ThomasChai05]

@@mariaguerrero08Hope you don't mind if I ask you to recommend this particular professional you use their service?

[@mariaguerrero08]

There are many independent advisors to choose from. But I work with *Izella Annette Anderson* and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.

[@Grace.milburn]

I really appreciate your useful advice. I was able to set up a call with her and confirm her identity. She seems incredibly knowledgeable, and I appreciate your advice so much.

[@anandgeetey]

I love the pace that you speak and don't waste a single moment. Good content. Please keep making more such videos.

[@scottfitzgerald5423]

This is quite possibly the most concise video on order of investing I've seen. Well done!

[@sauercrowder]

It's even more concise if you screenshot the thumbnail and then don't watch it

[@Jamesjerome0]

When I started investing last year, I avoided significant mistakes. I've focused on investing modest sums in stable businesses for the long term. If stocks perform well, I hold onto them; otherwise, I reinvest losses into profits. Recently, I made $9.5k from a $4k investment in NVIDIA.

[@MickyGlover]

Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.

[@Monicamonasky-]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. So yes i think every investor should consider a similar approach.

[@donovantobs]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@Monicamonasky-]

Her name is. 'MICHELE KATHERINE SINGH’. Just research the name. You’d find necessary details to work with a correspondence t0 set up an appointment.

[@donovantobs]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@biankabrodeur01]

Tae Kim. doesn't disappoint. It was stupid of me to sell $76,000 worth of NVDA stocks without reinvesting. I might turn to cash soon if I don't. Any particulars? (Buying bonds or CDs is not for me).

[@andbeyondd]

It’s important to consult with a financial advisor before making any investment decisions.

[@JennaHerberholz]

You're right, I and a few Neighbors in Bel Air Area work with such advisor who prefers we DCA instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.

[@SlParkerlee]

I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?

[@JennaHerberholz]

Melissa Jean Talingdan is a hot topic among financial elitist in The US. She's gained some reputation for her works during Covid. All the info. you need to set up an appointment is on her web page.

[@SlParkerlee]

Thank you. I just checked her out on the web browser, She seems really proficient. I'll follow up with an email. Thanks for the lead.

[@kortyEdna825]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@Justinmeyer1000]

My partner’s been considering going the same route, could you share more info please on the advisor that guides you?

[@Justinmeyer1000]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@hildredscali1754]

This was very nice and straight to the point. The taxable brokerage account stage is the rate limiting phase here and where a lot of people (like myself) lose a lot of their hard earned funds. Don't rush into this stage blindly, you must either be very informed on how to properly go about this or get the services of a professional. Made a couple of thousands last year this way after finding out the hard way. Goodluck!

[@EmersonFranklin65]

true that. tried this once and saw it wasn't as easy as I had thought it would be. You mentioned using pros, what are the steps for getting one? like a really good one...I wont mind using one right now.

[@hildredscali1754]

Can't say for sure, but you should start by looking out for those from reputable firms and good track records. You should also make sure the person is licensed. Personally, I use Marie, Kelly Matwick. You could also check her out

[@wonderfully_madeJake]

lmao, the system is designed in such a way you always learn this the hard way

[@_king_james_23]

Hi, hildredscali1754 I know this pretty lady. Used to share an office block with her

[@mikewill1740]

What's hard about a taxable brokerage account? You can stuff the same retirement, long term ETFs in there for the long haul.

[@ForgeofSouls]

eliminating high interest debt usually will take precedence over investment depending how high the interest rate. People dont realize the compounding effect can work in reverse. Great video.

[@mnpenner]

The math is extremely simple. Which one is a higher %? If it's debt, pay that off first.

[@VivaLaVittoria]

I couldn't agree more. What's the point of creating a cash safety fund when you already have a bunch of debt on which you're paying interest? Until you have that debt paid off, makes more sense to me to put all cash towards that goal. If something comes up and you need to spend more money than you have (computer breaks, whatever), unfortunately you just put it back on the credit card. You won't be any worse off than you were the month before, and you will have saved a little in the interest you would have paid in the meantime.

[@aaronleboutillier]

I would guess most high income earners don’t have lot of high interest debt so for them a cash safety fund makes sense first. Low income earners should attack high interest debt as fast as they can because it’s probably crippling them.

[@mnpenner]

@@aaronleboutillier Don't need a safety fund at all if you're high income. Keep a little in money market to balance your portfolio and just take it out of there if you need to, or slap it on the credit card and pay it off after your next paycheck.

[@hovickeard6728]

Great content Tae, this is a crucial topic that needs to be addressed, buying and getting in has never been an issue, however exit points and selection and picking of stocks got me more in the red, I’m open to more positive and smarter methods;

[@diegoa3991]

Wells lot of persons continually take the market for a casino or perhaps think themselves in Las Vegas, its no gamble at least not in the real sense, the need for careful analysis, constant dedication brings about positivity on the market.

[@joycelistings6879]

Facts, you’re got a major point, I recently reached $850k in returns from a $178K startup, this proceeds didn’t come my way till I had a certified fin adviser oversee my portfolio operations, without doubt I can say for a fact nothing beats experience and professionalism.

[@douglasjefferson8533]

Maam I’d really appreciate you more info on your FA. Getting one is also a difficult task.

[@joycelistings6879]

Very well dear, I’d say Lina Dineikiene, she’s top notch. Do your own DD.

[@douglasjefferson8533]

I’d just put her name to google. Found her bio page, Thank you so much for this ma’am

[@wellsHannahh]

Considering the shaky economy, I'm keen to know best, how people split their pay, how much of it goes into savings, spendings or investments. I’d be retiring/working much less in 5 years, and sometimes earn up to $160K per year, but nothing to show for it yet.

[@c.o.l.ek500]

thats personal, you should connect with an advisor for proper financial/investment planning, never can tell what the future holds

[@Blitcliffe]

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q4 2024.

[@AliceHh_]

That's impressive! I could really use the expertise of this advsors.

[@Blitcliffe]

Lauren Marie Ehlers is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@AliceHh_]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@SophiaTurner-im6cg]

With the stock market volatility, inflation, and rising interest rates, it’s tough to know where to put my money right now. I’ve been eyeing Bitcoin as it’s been gaining traction, and I’m thinking about diversifying into it for long-term growth. Do you think it’s a good time to explore crypto alongside traditional stocks?

[@NancyAllen-n7t]

I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.

[@muizdh]

That's why I work with one. My $520K portfolio is well-prepared for all market conditions, having grown 85% since early last year. My advisor and I are planning for this year too. In my opinion, financial advisors are among the most important professionals, just like doctors.

[@barquie]

I could really use the expertise of an advisor like that.

[@muizdh]

Her name is “Kenia Giordani Borges”. You can research her name to find the necessary details and set up an appointment.

[@barquie]

Thanks for sharing. I searched for her name and found her website. I reviewed her credentials and did my research before contacting her. Thanks again.

[@ErinWarner-zc9jy]

It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...

[@ElizabethKing-qu2ob]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K

[@CharlotteLangley-sn6hi]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@ElizabethKing-qu2ob]

Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@AndersonCallaway]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@peerbr7849]

You saved us so much money. Big fans of your channel. Thanks for everything you do.

[@yunlongzhou1774]

I'd move up HSA contributions before full 401K precisely because of the triple tax benefit. In addition, if you are on the cusp of max FICA wage, HSA contribution will reduce that, so you'll pay less FICA, without much downside to you SS. That's an instant boost. Another thing before full 401K will be limited scope FSA, as long as you spend it all.

[@seanwool]

I couldn't agree more. An HSA behaves exactly like a 401k except with an additional tax bonus if it is used on qualified expenses. There is no scenario where a 401k dollar is cheaper to buy (after the match) or more valuable to spend than an HSA one.

[@WilliamLyons5]

It just depends how much your employer matches. You could make an argument for either, the HSA isn't giving you free returns from the jump.

[@australianpanda2713]

What if you end up not having a medical problem?

[@seanwool]

​@@australianpanda2713if you don't have significant medical expenses, then an HSA behaves exactly like a traditional 401k when you are older than 60 (except it doesn't have required minimum distributions like a 401k does which makes it even better). I think that most people expect to spend down their HSA in retirement though since you can't continue to contribute to it at that point.

[@yunlongzhou1774]

@@australianpanda2713 HSA can be used to pay Medicare Part B & D premiums, which could be substantial. Otherwise, use HSA as a regular IRA.

[@Valcreee]

Recently started to brush up my financial acumen. Will be a high earner soon after graduating residency and I can say without a doubt your videos are the best for financial education on KZbin after watching 100s. Very clear and to the point. Thank you very much and continue to make amazing content !!!

[@BrewerVera]

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

[@Raymondcraw1967RaymondCrawley]

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

[@jameswood9772]

If you do decide to make new purchases, have an exit strategy ready. Consider taking partial profits quickly to lock in some gains. I've been in regular contact with a financial analyst since covid. Investing in popular stocks is now quite straightforward; the issue is determining when to buy and sell. My advisor makes investment and exit decisions for my account, which has risen to more than $500K in less than a year.

[@checkforme234]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@jameswood9772]

When ‘Rachel Sarah Parrish’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@checkforme234]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@WilliamLyons5]

My ESPP is truly one of my favorite things I have ever had access too. A built in savings plan with automatic 33% returns. Sell when it's inflated and invest into an index, unbeatable. ESPP also helped me save for a down payment on my first house.

[@TheJackCain-84]

What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.

[@Jamessmith-12]

For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.

[@kevinmarten]

If you do decide to make new purchases, have an exit strategy ready. Consider taking partial profits quickly to lock in some gains. I've been in regular contact with a financial analyst since covid. Investing in popular stocks is now quite straightforward; the issue is determining when to buy and sell. My advisor makes investment and exit decisions for my account, which has risen to more than $500K in less than a year.

[@JacquelinePerrira]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@kevinmarten]

When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@JacquelinePerrira]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@brucestiles6477]

Some details that Tae left out, probably to reduce the length of the video: 1. For the Backdoor Roth, income tax is paid on the *GROWTH* of the After-Tax funds contributed, as well as all Pre-Tax funds converted. The After-Tax funds are not taxed, because they have already been taxed. The less growth, the less tax, so there is an incentive to make the conversion earlier rather than later. Regardless of how you commingle or do not commingle Pre-Tax funds and After-Tax Funds (e.g., different accounts), types of funds converted are allocated by percentage of each type of fund in ALL IRA accounts. If you have $20,000 in Pre-Tax IRA money, and add $5000 of After-Tax money, the ENTIRE $25,000 would have to be converted for all of the $5000 in After-Tax to be converted. You would pay tax on $20,000, and have $25,000 in Roth IRA funds. I would ordinarily suggest making IRA contributions before maxing the 401(k) contributions, but if you will be regularly making Backdoor Roth contributions, you'll probably want to Zero-out your IRAs so that the only funds to convert each year are After-Tax funds. Again, it behooves you to convert with as little growth (and Pre-Tax funds) as practicable. 2. For the Mega Backdoor Roth, the earnings attributed to "Post-1986 After-Tax contributions" (i.e., the kind being made nowadays) must be withdrawn with the After-Tax funds being converted. ("Pre-1987 After-Tax contributions" can be withdrawn without their earnings.) You can either pay tax on the earnings to make them Roth funds, but you should also be able to bifurcate the two fund "sources" and direct After-Tax to a Roth IRA (no tax) and its earnings to a Traditional IRA (no tax.) 3. When you hit retirement age, you're still probably going to want to have some funds in Pre-Tax, either in a 401(k) or a Traditional IRA, so that you can enjoy these benefits: a. You will likely be able to arrange your withdrawals so that you can have a few years in which you can withdraw a lot of tax-deferred money that you paid 22% or higher tax on at a tax rate of 12% or lower. (Financial planners call this "tax rate arbitrage.") b. If you make charitable contributions, once you reach Age 70 1/2, you can have a Traditional IRA (convert 401(k) funds to IRA funds if necessary) from which you can make Qualified Charitable Distributions, aka "QCDs." QCDs count against your RMDs (when you reach RMD age), but are not counted in your income, so your taxable withdrawal is lower. You also get the benefit of making your charitable contributions with Pre-Tax money, which is like getting a discount on your charitable giving.

[@Lamarche1959]

While i admire long term investors, I really don't know what to expect. For instance, if i invest 500k what would my portfolio look like in 2030?

[@Lamarche1959]

Impressive, how do i get to your fa? It seems they play an important role in these

[@phyllisburtonhearsawho]

if you don't mind i just looked her up and she seems very successful and from the look of things you're also doing well for yourself, this is the trajectory i want my life to take so i reached out to her through her web. Thanks for the tip

[@Norrieey]

i want to invest

[@TheScottWhyte]

i appreciate you...finally... someone on youtube that says lets get into it, and then you get right into it!!!!! unlike everyone else here that says lets get into it, then talks about 20 minutes before getting into it...

[@SFUndertaker]

“Passing on to our children the value of hard work and ingenuity”. What a novel concept. Right on!

[@ry4557]

I always here this referenced by people who spoil there kids lol

[@Petroguest-i4g]

I'm convinced that investing $50k-100k in the right company before it goes big is more important than saving for retirement. However, picking the right company is so hard. I have around $200k in a HYSA and want to invest. What are the best opportunities now?

[@LeepinLeopard]

The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.

[@Petroguest-i4g]

this is all new to me, How do I find a suitable fiduciary advisor, can you recommend any?

[@LeepinLeopard]

I've stuck with the popularly ‘’Melissa Elise Robinson” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Petroguest-i4g]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@rctxtd5]

Great video as always. One word of caution regarding HSAs. Be careful to check your eligibility beyond just having an HDHP - especially if your spouse has their own Healthcare plan. If you are covered by a spouses’ non-HDHP plan in any capacity, regardless of your own HDHP plan, you lose eligibility. Common mistake is when a spouse has an FSA plan. Most FSAs cover spouses by default, even when no dependents are listed unlike like other policies, so invalidate your own HSA eligibility while that spouse’s FSA plan is active.

[@marttilaine6778]

Important tip, thank you!

[@AJStamand]

Sincerely appreciate a video that starts the content within the first 5 seconds

[@NoahNollens]

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.

[@BrigetGstar]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to over $750k.

[@AvelineOztas]

We have been in a depression since 2008, the yield curve has already uninverted, global recession indicators are flashing alarm for well over a year, and absolutely nobody could pull us out of the hell coming regardless of party.

[@MesutMilleliri]

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

[@BrigetGstar]

*Julianne Iwersen Niemann* a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@MesutMilleliri]

_Julianne_ sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's tradin strategies but it didn't pan out well. Hopeful that she will attend to my message.

[@dessertcruiser]

I’m considering whether to retain $3 million in single-family rentals, we have $900,000 left on mortgages. What is the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds?

[@RafetMert-qs3kw]

Real estate, while a solid investment, demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.

[@HermanOberg]

Sell and invest option viable, but crucial to consult a trustworthy financial planner for income projections aligned with your goals.

[@HermanOberg]

7:49 monica 7:53 mary 8:03 Strigle

[@BidenIsPoTUS.JFK.]

Real estate isn’t as liquid as cash or cash-equivalents, or even stocks and bonds. I rather the latter. Just as you’re experiencing, real estate can be a lot of work.

[@bradlucass]

Improve your other assets by exploring trustworthy money market funds or mutual funds for your emergency savings. Compare the rates on your mortgage and spend any surplus funds smartly.

[@milbourne4666]

I appreciate the emphasis on finding what works for you. So much financial advice is prescriptive and "go do this now!" in nature. This type of approach is informational and reasonable. Work with you financial advisor and take stock of what matters to you. Thanks!

[@KennedyS123]

I needed this.....FINALLY a video for those of us who do not qualify for a ROTH. Thank you! 🎉

[@TheIvyLens]

There is Roth/back door Roth. The only limitation you have is injecting money into a Roth actively. But anyone can have a Roth.

[@DKL997]

I do HSA first because that is money I will NEVER pay taxes on. Even with a 401k I’ll have to pay taxes eventually. With HSA I immediately gain ~34% because of the tax benefit.

[@davidmorsi4939]

I love how clear and concise your videos are.

[@MrZumbrota]

I love the content and the pace of content. So many other content creators, keep repeating themselves and speak so slowly. Great job.

[@noelcovarrubias7490]

I went from making $30k a year to $145k a year and although I already knew some stuff that were mentioned here, I was able to learn a few new ones such as the triple tax benefit an HSA account has (I didn't know about this). Really good video Tae! Thank you

[@bellgrand]

Don't gamble with your health to save money if you have a choice. I know young people think they're invincible, but they're not. Sure, you save a couple hundred bucks on insurance each year, and you basically get a second IRA. But you if you suddenly get a chronic illness or injured, you're on the hook for many thousands of dollars. And it becomes completely out of the question once you have kids. If any of them has an allergy, you're going to be shelling out up to a thousand bucks per Epipen.

[@kendigjl]

Because I paid off my mortgage by ignoring financial advisers, I was able to then pay off all other debt. Now I just do cash>Roth>CMA. All that money that would be going towards interest is now going towards my investments instead.

[@merlinfitz]

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.

[@ChristopherHoward-kf7yk]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@lawrenceHart-ys2ct]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@merlinfitz]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances

[@lawrenceHart-ys2ct]

@@merlinfitz Monica Shawn Marti is a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@merlinfitz]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@JR-gy1lh]

Best channel on Financial Advice on the Internet hands down! No BS, love it!

[@mnchester]

Excellent video! Please do one explaining the Mega Backdoor IRA 😀 You explain concepts extremely well, so this will be very valuable to us

[@michelem226]

For the Roth IRA, if you are only slightly above the max income, you can still contribute, but at a reduced amount. You can wait until you file your taxes to see how much you can contribute for the previous year; you are allowed to contribute to a Roth for the previous year if it's before April 14th, I think.

[@JTL1776]

@16 i made $7 an hour. Now i work 4 days a week and $2000 a week on average. Step 1 Desire to earn respect. Step 2 Hard Work is Happy Work.

[@jameswood9772]

I'm a 52-year-old QA Specialist at Confluera, earning $150,000 annually. While I have a retirement account, I'm eager to explore short-term investment opportunities before transitioning to part-time work in the coming years.

[@KristensenJørgensen]

I lost a fortune investing in flunk companies. I'm currently liquidating, compiling and picking stocks that l'd love to hold on to for a few years before retirement, am I better off sticking to Gold as it seems stocks are a little too unstable right now.

[@angeladeem2988]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@Sylvan_dB]

Sometimes an employer will make an HSA contribution or match. I'd put this on par with the 401(k) match.

[@rene.s.s]

Don't snooze on the taxable brokerage. You can supplement this with RSUs, but I'm building this one up for those early retirement years where I convert $29,000+ of future equivalent traditional 401k funds to ROTH, wiping it out with the standard deduction, and then living off $65,000 equivalent and paying 0% tax.

[@CrabbyE8]

You don’t have to convert to ROTH to live tax free from a taxable account. You just need a withdrawal strategy that doesn’t trigger LT capital gains tax. For example, if you retire at 54 and have no income, then you are at the 0% capital gains bracket. if you study how to manage your “taxable account,” you’ll realize its better than triggering income taxes with Roth conversions. Also, let’s say you make $20k/annually in dividends and interest in a taxable account, but you otherwise have no income; its no big deal because its under the standard deduction if you’re MFJ. There’s a little too much ROTH conversion hype on the internet right now. If you just build up a great taxable brokerage account and don’t do anything stupid with it, you can live off that tax free for most of your retirement.😊

[@TheVastoLordes]

​@@CrabbyE8 damn I never really looked at long term capital gains tax brackets before. That's honestly pretty sick. Married up to 89k is 0%. single up to about 45k. Of course taking any sort of 401k withdrawal or making any regular income still counts towards those limits but that's not bad at all

[@rene.s.s]

@@CrabbyE8 the deduction wipes out your pretax conversion to ROTH so you get ROTH for free, just like your example but I think it’s more powerful to convert the pretax account that’s been saving you tax all your career. Then you live on the rest of the 0% bracket. You’re preaching to the choir. Sure you might end up with a few percent effective tax if you have unqualified dividends, but I personally don’t.

[@JK-Collection-86]

Great video! This is precisely why only 33% of my income hits my bank account. With 401k, after tax 401k, ESPP, and HSA, the remainder covers my monthly expenses with a little left to save for vacations.

[@carly_d44]

Great video with some excellent suggestions and points made! For ESPP, it’s a great opportunity but I recommend to research outside of the plan documentation before jumping in. As an employee of a company with dividend stock, note when the purchase date and the dividend date are to just be aware of the impact of the potential post-dividend share price drop. Also consider the stock’s alignment with your asset allocation strategy if you hold. My company is ex-US so rebalancing upon both stock bonus vesting and ESPP purchase is necessary to stick to my desired US/ex-US and single-stock/index portfolio proportions.

[@isaacdouglas1119]

Wow this is insanely well-produced and high-quality (and free!) content. Thanks for sharing!

[@volcomsocom]

Small correction: You don't necessarily have to max out your tax-advantaged 401k bucket before making after-tax contributions. At least not in all 401k plans. I make traditional (before tax) contributions along side after-tax contributions (which then get converted to Roth) throughout the year.

[@osuzorba]

Same, I have my pre-tax and after-tax contributions set up so I max out both on the last paycheck of the year.

[@tomwalma4762]

you can pick one or both, however, the contribution limit will stay unchanged

[@beepbop6697]

Roth is a bad bet, stick with traditional.

[@Freedom_35]

"passing on to our children the values of hard work and ingenuity" I love this perspective. I feel the same way. I sometimes feel that my children should be 100% responsible for their education because in the pursuit of funding it they will learn many valuable lessons. College is more for certification than it is for learning.

[@RobbStonee]

I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow into something substantial that I might use for retirement. I’m just here for ideas

[@Eugene-m2v]

50% stock, 20% Bitcoin, 20% high yield CD/ bonds, 10% cash/ fully liquid stable asset

[@ScottStraw]

At a point like this, It's best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@Tipping-Point88]

Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.

[@RobbStonee]

I could really use the expertise of this advsors

[@Tipping-Point88]

Marissa Lynn Babula is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@Ricardoseb]

This is awesome, took me years to figure out all these moving parts, great comprehensive list sir, much appreciated

[@betterwithrum]

Complete agree with your point on 529! This is the way! Work hard, get the degree if it will help you do what you want to do. Don't just go to college because that's what society tells you to do. I got my degree after I figured out what I wanted to do as an adult.

[@LauraB.335]

Absolutely! College degrees, UNLESS you need them for what you want to do, are one of the biggest scams, and leaves millions in debt with school loans

[@paulnhbtx713]

Great tip on HSA! I’ll def max this out too ! I already max out my 401k

[@bobjimbla]

You should do a video defining who qualifies as a High Income Earner on net… Can look at locale, DTI, marital status, course of income etc… Might be helpful for goal setting, evaluating current priorities etc.

[@sidnab]

Love this video. It lists all the common sense, unglamorous investment ideas that actually work. I have done all of these and have been very thankful I dis. Compounding and tax minimization are wonderful things

[@rays3277]

Merry Christmas Tae. Thank you for giving us the gift of financial education!

[@tomgio1]

This was very helpful, direct, and with just the right amount of insight into the decision-making process, much appreciated. An additional note that may be of use: some HSA’s offer mutual fund options in addition to the traditional savings account. One can mix and match as needed. Some companies will even fund a portion of your HSA.

[@takatsu5]

For the taxable brokerage account buy the ETF version of VTSAX, which I think is VTI. ETFs can be more tax efficient because of their structure, which is important in a taxable brokerage account.

[@unitymind]

Do you have some reference links?

[@ScottHess]

Those two funds are different offerings on the same underlying fund. Vanguard has a patent (since expired) on this model, which shares the ETF tax savings with the associated mutual fund.

[@technicallytrying]

this is the most straight foward no bullshit video on investing I've seen in years

[@technicallytrying]

the only thing I disagree with is not prioritizing a taxable brokerage...how are you supposed to max out every tax advantage account and then just not spend a $1 or save for a house and have nothign until you are 59.5?

[@BrandonIvan-c6e]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@Lourd-Bab]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@BrandonIvan-c6e]

@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@Lourd-Bab]

@@BrandonIvan-c6e Oh please I’d love that. Thanks!

[@BrandonIvan-c6e]

@@Lourd-Bab Clementina Abate Russo is her name

[@BrandonIvan-c6e]

Lookup with her name on the webpage.

[@MatthewAidan4ns]

Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.

[@JamesOliverr7s]

Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.

[@maximilianbredow6374]

This applies if you intend to retire in the US. If you’re on a visa and/or likely to retire abroad, you may be taxed at a higher rate, or your local tax authority may want to tax you again in case of roth ira.

[@hazdazzler]

Fantastic video and full of valuable info as usual!

[@Cochran-j5d]

Hello, I wish to start investing but i dont know where to begin. Any advice on how to invest my 200k cash savings?

[@VivianneLegault]

Find the undervalued stocks to bring in a 50 percent annual return or consult with an expert to guide you.

[@FelineAirstrip]

As a contractor, my job leaves me little time to thoroughly analyze my investments or evaluate stocks myself. Therefore, for the past seven years, I've entrusted a fiduciary to actively manage and adjust my portfolio to align with current market conditions. This approach has helped me navigate the ups and downs, knowing when to buy and sell. Perhaps you should consider a similar strategy.

[@sting_grayl]

That's impressive! I could really use the expertise of this advsors.

[@FelineAirstrip]

*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@sting_grayl]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@ceelo826]

I was just thinking about this topic and your video came up on feed. Excellent summary of this topic, thanks for making it.

[@Ji-Min-j7b]

I'm a plumber making over $100k a year, and I've never invested before but do have a substantial cash saving. I'm thinking about starting a Solo 401(k), but I'm stuck on what to invest in. I've watched a lot of beginner videos, but I still don't know the best way to start. Any real-life advice or tips would be really helpful.

[@JefferyDuns]

If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.

[@RobbieNixon-d1w]

Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $1million in that time frame.

[@RobbieNixon-d1w]

Sophie Lynn Carrabus is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@interactivellama]

One thing to consider is that you can only do a Mega Back Door 401k during the calendar year due to that's how your paycheck is deposited, so it should be before the Roth IRA if cash flow is an issue. While the back door IRA contribution can be done up to the April filing deadline. Conversions are only reported in the year they take place. There's no limit on the conversion step.

[@ctro6844]

I have been looking for this exact information presented in this exact format for 7 years! Thank you!

[@BigJohnM]

I will say... Our HSA is a fantastic benefit. We have had one for like 5 years now, i got it as soon as it was sn option for me. Wow, it is epic.

[@jaa928]

Thanks for the great content as always. I would challenge the order of number 1 and 2. I recommend starting with the 401K before building up your cash reserve fund. There are usually events like getting your first professional job, getting a raise, or changing jobs which create "found money". Investing this found money is painless and helps create the automatic saving habits, and gets you a tax deduction which is larger than the interest rate on virtually any credit card. This way, you can use a credit card as your rainy day fund if necessary, but hopefully not often. I maxed out the 401K, then built up cash stores afterward.

[@michaelnguyen2975]

Interesting argument for the big picture

[@LASLOEGRI]

And this approach works for everyone even at $20/month. It’s the behavior not the numbers that make it work.❤

[@imdoc7872]

Great video! I’m totally debt free and a high income earner. My wife and I are maxing out all of our retirement accounts, have 529s for our kids, and opened a taxable brokerage account. I want to increase my cash pile and start investing in real estate for 2024.

[@btyc]

What do you consider a high income household if you don’t mind me asking?

[@ItSamiraclelol]

@@btyc I'd say if you have enough to do the mega backdoor roth (and all the preceding steps, img.kzbin.infoD0fMKiPI9w8/maxresdefault.jpg) then you fall into the high income household. Different areas have very different COL so easier to measure with that milestone than an income.

[@somedudewithakeyboard]

This is the most useful video you will see today. And maybe tomorrow.

[@conggao5565]

I hold ESPP at least qualified disposition date is met so I only have 23.8% tax rate for the gain.

[@matheusbica]

FYI In Canada HSA has a limit of 2 years with 1 year of rollover so the HSA idea works if you use the money expiring in 1 year.

[@taeekim]

From one Tae Kim to another, keep up the great work! Merry 🎄 Christmas

[@EricMesa]

You're the first person I've seen that agrees with the strategy my wife an dI use.

[@bradycpowell]

I have to disagree on the taxable brokerage position. It should, I argue, flow around and through each step after the emergency fund and 401k match. This is an issue I have with your, and other popular order of operations guides, as it seems to generally ignore saving for major pre-retirement expenditures. Following this OoO, where does someone build up a down payment, for either a home or a car; plan for a baby, honeymoon, adoption, non-medical elder care, etc.; or anything that could benefit from the power of market exposure (with a long enough planning horizon to account for inherent risk )?

[@Sylvan_dB]

Agree, and just posted the same thing before I saw your post!

[@bloxer9563]

@@justthebrttrk true

[@mariamafzal3262]

Agree

[@kenyonbissett3512]

This only applies to investing and retirement savings. All other savings for the rest of your life is individualized and is in addition to this plan. Some high income earners move every year or 3 and then buying a home may not be a priority. Some will marry, others will not. She me will have children, others no. Some will plan to have one parent home full time with children, others will not. Some will lease a car, some will buy. This is geared to high income earners, not minimum wage. And if you own the business, his suggestions would be very different.

[@bradycpowell]

@justthebrttrk A fair perspective, but one that comes down to personal risk tolerance. Whether you expose the money to the market or not, folks are going to be cutting big checks throughout their lives before they retire and that short/mid range savings should be included in any order of operations.

[@seanwool]

I might suggest moving #10 (taxable brokerage accounts) up the list. If you are investing for the long haul, then you are dealing with long term capital gains tax which is zero if you make less than $89251 that number is even more after the standard deduction and HSA max. If you make less than $126751, then those two things alone will get you to zero tax. If you make more than that, just contribute enough into your 401k to bring your visible income below that threshold. In that scenario, unqualified investments are barely distinguishable from Roth dollars and they will be available should you decide to retire early or get into some investments that aren't available in most tax-advantaged IRAs.

[@martinthomas9371]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Taylor

[@JamesRandle5]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has be super.

[@benroland3652]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.

[@anitalawrence2668]

Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading.

[@Joelgarcia47]

I'm new at this, please how can I reach her?......

[@martinthomas9371]

SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME

[@charlynnherrasdiapo1228]

Excellent summary. Very succinct and ticked all my boxes! 👍🏼

[@joeuser2360]

I've pretty much done all of this except the back door Roths and low interest debt. The only thing I would change on his recommendations is to open a taxable brokerage account as your emergency (not day to day) cash management. These days, security transactions are so frictionless, they can serve the needs for emergency cash. Of course, money earmarked for emergencies should go to something stable like a preferred ETF or similar. The rest should just go into an S&P based fund for those who are just starting out learning about investment. The one other thing that you did mention but gets overlooked is the 5 year holding requirement for funds converted from IRAs to Roths. This is a big deal if you are on the cusp of retirement.

[@jlrob85]

Covid changed my attitude. Had about a months worth of expenses saved up when it hit and I was legitimately worried about my job lasting. Almost 4 years later I have 3 x years of savings tucked away. I know I don’t need that much but the reassurance makes me sleep better at night. All on my mortgage offset account

[@Draega007]

Do you plan on making a video for people making less than $60k?

[@Sophia-p.]

Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one cry and depressed

[@Sophia-p.]

So you could try less

[@robloxvids2233]

Great video but I'd bump HSA ahead of non-matched 401(k). HSA is better, because at 65 it acts like a 401(k) anyway but prior to that anything spent on medical is tax-free. And the limit is low compared to 401(k).

[@TilSchweiger-i3f]

Your videos have been truly impressive! As one of your regular viewers, I've been following your content closely for a while now. I'm very interested in making an investment, but I’m still having trouble identifying the right opportunity to fully commit to. I would greatly appreciate any guidance or suggestions you might have in this area.

[@Joegolberg1]

As a beginner investor, having a mentor to hold you accountable is crucial. Personally, I’m guided by Gregory Leo Cattel, a well-known crypto consultant. While I can't share much about him, I recommend searching his name online to find the details you need to schedule an appointment.

[@Benjaminarmstrong684]

I started working with Coach Gregory Leo Cattel back in August, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.

[@Justinfred11]

Gregory Leo Cattel success can be attributed to his unwavering dedication to setting realistic goals, expertly navigating clients through complex financial landscapes while avoiding the pitfalls of unrealistic expectations.

[@TilSchweiger-i3f]

I just Googled his name and his website came up right away. It looks interesting so far. I sent him an email and i hope he responds soon.

[@CeeZeeBTW]

Great video, nice to find a concise and informative personal finance video that doesn’t try and sell you on anything

[@kristianmyers53]

Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

[@theTeslaking]

It is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.

[@JosephMartin7226]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 950k within a year, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@ThePatrioticAmerican4L]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?

[@JosephMartin7226]

The decision on when to pick an Adviser is a very personal one. I take guidance from Sharon Ann Meny to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@ThePatrioticAmerican4L]

Thank you for this amazing tip. I verified her and booked a call session with her. She seems Proficient.

[@dirtyred-ch7mk]

Pretty sure two of those bullet points about mega backdoor requirements are wrong.

[@conggao5565]

You are correct: 1. 401k and IRA are separate, anyone has the ability to fund 401k after tax is ok, regardless of the income; 2. After tax and traditional 401k is also separate, you don’t have to max out traditional before funding after tax 401k.

[@jake9167]

Agreed. I contribute to the after tax 401k all year long and have it do automatic conversions the day it goes in (it takes one call to Fidelity to set this up and your plan needs to support it). It has nothing to do with first maxing out the 401k at all (although practically that makes the most sense to get all the pre-tax dollars in first). And I never heard of any eligibility rule that you need to have a certain income to contribute to a mega backdoor Roth. I searched these restrictions and found a Motley Fool article that mentioned these limits but they don't seem to exist anywhere else, bad source possibly?

[@ItSamiraclelol]

@@conggao5565 Well this is a bit awkward but you're wrong, albeit, we are here to learn. 1. Only if your service provider has the option for you to fund a 401k after tax, can you do it. Not every provider gives that option, but if you can, it can be done regardless of your income (true there). 2. After tax and traditional 401k are not always separate. This also depends on your provider, Vanguard for example does not separate pre/post tax contributions so that is why they do not offer mega backdoor roth conversions when they are the 401k administrator. Therefore, you can't pick to max the post-401k before doing the pre. Some providers will simply take whatever allocation (%) you specified and it will first go to pre-tax and if you reach the limit AND if the provider offers the post-tax THEN you'll be able to do it.

[@MillieFord-gq1kz]

Reading books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!

[@MariettaDiane]

Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!