The Next Dollar Roadmap to Financial Independence - #5: Save & Invest 15% - 25%
Milestone 5 is where your net worth really begins to build and your path to financial independence begins taking shape.
Saving 15% to 25% of your income may seem like a significant sacrifice, but Curt shows how this savings rate is critical for reaching your goal of financial independence.
He covers a variety of tax-advantaged retirement accounts that can serve as a tailwind for your financial journey including 401(k)s, 457s, 403(b)s, TSPs, IRAs, HSAs, and even taxable brokerage accounts.
Finally, Curt explains the differences between Roth and Traditional (tax-deferred) accounts and how to prioritize your investing contributions for maximum benefit.
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The Next Dollar Roadmap - • A Step-By-Step Guide to Financial Independ...
Starting Point: Creating A Budget - • The Next Dollar Roadmap to Financial Indep...
Milestone 1: The Uh-Oh Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 2: Take Advantage of Your Employer Match - • The Next Dollar Roadmap to Financial Indep...
Milestone 3: Pay Off Toxic Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 4: Full-Sized Emergency Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 5: Save 15% to 25% in Tax-Advantaged Retirement Accounts - • The Next Dollar Roadmap to Financial Indep...
Milestone 6: Invest for Flexibility - • The Next Dollar Roadmap to Financial Indep...
Milestone 7: Prefund Kid’s Education Needs - • The Next Dollar Roadmap to Financial Indep...
Milestone 8: Pay Off Remaining Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 9: Total Financial Independence - • The Next Dollar Roadmap to Financial Indep...
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00:00 – Start
01:45 – Why Tax-Advantaged Accounts?
05:15 – Tax-Advantaged Options
10:24 – Roth or Traditional?
13:13 – Prioritizing Contributions
15:58 – Why 15% to 25%
17:45 – Wrap Up
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👉 Our Financial Independence Playlist: • Financial Independence
👉 Our 401k Playlist: • 401(k) Accounts
👉 Our HSA Playlist: • Health Savings Accounts
👉 Our IRA Playlist: • IRAs
👉 Our Roth Playlist: • Roth Accounts
👉 Our Investing Playlist: • Investing
👉 Our Tax Efficiency Playlist: • Tax Efficiency
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👉 Our website: https://martinmoney.com/
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• How Can I Be Financially Independent By 30...
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• How Many Americans are Financially Indepen...
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