5 Steps to Getting Your Finances Set for Summer
It can be so hard to decide where to even start in strengthening our financial footing. There are so many great opportunities and choices and while that’s awesome, it can be overwhelming, right? In Episode 103 of Ambitious Money Podcast, we’re going to go through the 5 things steps I would personally take to get my own finances set for the summer. This season typically comes with some super fun, but also maybe unexpected expenses. We’re going to make sure you know they best ways to make your money work for you so that you’re having fun instead of stress this summer!
We’re going to cover:
Getting your emergency fund together
Getting a sinking fund going
Why we’re going to max out employer 401k before focusing on Traditional IRA, Simple IRA, or Spousal IRA.
Opening a Roth IRA and why you should try to max it out.
Opening a taxable brokerage account
You’ll walk away from this episode with a better understanding of the tax advantages to different retirement options, how much I think is suitable for an emergency fund, and a friendly reminder to lose the guilt in having fun with sinking funds!
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My Favorite Millionaire Resources
IRS for 401K Contribution Limits
New to Investing? Beginner Investing Books I Recommend
Bogleheads Guide - Three Fund Portfolio
FIRE - Financial Independence Retire Early
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