Ask HTM - Is a 25% Savings Rate Overkill, Avoiding State Minimum Insurance Requirements, & Eliminating 401k Loans #1030
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 1 September 2025
⏱️ 53 minutes
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Summary
Let’s kick off the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!
1 - Should I not take a higher paying job because of a 401k loan I still need to pay back?
2 - My wife and I are younger investors but are looking to ramp up the savings: 401k or Roth?
3 - Is it possible to leave match money on the table by front-loading the sacrifice?
4 - Will my homeowners premiums go up if I make a claim with my insurance company?
5 - What are some ways to curb our grocery and restaurant spending?
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Transcript
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| 0:00.0 | This is an IHeart podcast. |
| 0:04.2 | Welcome to How to Money. |
| 0:05.9 | I'm Joel. |
| 0:06.5 | I am Matt. |
| 0:07.5 | And today we're answering your listener questions. |
| 0:38.0 | Okay. All right, buddy. Let's get to it. Are your, is your throat all warmed up? I was born ready, Matt. We did just chat for about 15 minutes about local politics before we, |
| 0:42.0 | actually I had already hit record and then we got off topic, so went back over there, |
| 0:46.2 | stopped, deleted, started fresh from the beginning. Sometimes as that happens, like, we're friends who we just like to catch up about random other stuff that's happening in our lives |
| 0:50.7 | or around town, and then we're like, oh wait, we're supposed to be recording a podcast now, |
| 0:54.0 | aren't we? |
| 0:50.4 | Got to talk about personal finance, not local politic yard signs. Is that okay to say? Which are proliferating right now. Who's running for local school board is a thing. All right. Just stop. Just stop. All right. We are. You don't want me to endorse a candidate right now? Hey, if you want to you, go out on a live. No, thanks. Go for it. |
| 0:51.4 | We're going to talk about investing when now? Hey, if you want to you, go out on a live. No, thanks. |
| 1:10.9 | Go for it. |
| 1:11.9 | We're going to talk about investing when you are younger, when you're 25. We're going to specifically talk about some different accounts that this listener is asking about. We're going to discuss insurance coverage limits. Specifically, we got some feedback from a listener. We will address that. and plus another point that she raised. |
| 1:09.6 | Another listener is asking what he should do from a listener. We will address that. And plus another point that she raised, |
| 1:29.0 | another listener is asking what he should do about a 401k loan that he has. We've got all of that |
| 1:35.5 | to get to plus more today. But buddy, I want to share something really quick. Folks might remember, |
| 1:40.6 | I guess it was maybe two years ago that there was a small part of me that was thinking we might get a second vehicle and I was considering a Tesla. And I was just like, I want to, I want to drive it. I want to get to get to see what it feels like. And what's great about, if you're going to do it, do it quick for that. Oh, I know. Well, that, that time, that time is no longer something I want to do. |
| 2:01.2 | Okay. |
| 2:01.6 | But one of the, I don't know if you recall, but one of the things I shared was that it was a ton of fun to drive, to drive a Tesla. |
| 2:07.5 | So much fun. |
| 2:08.9 | I really enjoyed it. |
... |
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