Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight and encouragement you need, to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

My name is Joshua Sheets, I'm your host host and today we continue our series on financial

goals that everybody should set. This is the sixth goal in this series and

today I want to tell you why I believe that fully funding a Roth IRA for US persons of course

should be your foundational most important accumulation goal.

For my international listeners, everything that I describe in today's podcast will be relevant

to your country's version of a retirement savings account so please give this a chance but

there will be a few differences regarding the specifics that I will give of a Roth IRA

quick recap in today's podcast this is where we start to turn the corner from things that are basically

always appropriate for the youngest people to things that are more universally appropriate.

I'm trying to give you goals that really are applicable to everybody. I'm trying to give you a set of very round, vivid, clear, simple, and yet enormously effective goals that if you set and achieve these goals,

will see you on your way very quickly to financial abundance.

But of course, since I like to begin from the beginning, the ideas behind many of these

goals are most up till now have been most obvious for younger people. For example, goal one was get a job. Most 50 year olds have

accomplished that many years ago, but I wanted for the sake of completeness to start there.

So goal one was the importance of getting a job. If you're broke, the first thing to do is get a job. When you have income, you can now start to adjust, make plans, accumulate, buy the things that you need to live. All of that is based upon having a job and having income.

Goal 2 is set a priority to spend half, save half. Try to limit your personal expenses to

no more than 50% of the income from your job.

If you will engage in a little bit of frugality, a little bit of deferring of expenses,

and you'll do that, then by being able to save half your income you will put yourself in a situation

where you'll have the abundance needed to quickly increase your income quickly have

opportunities for investments and the cornerstone of good

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