How Much Should You Invest with a Lower Income?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 24 October 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:07.0 | investing, taxing. |
| 0:09.0 | You've got financial questions, he's got financial answers. |
| 0:12.6 | It's Brian Preston, the money guy. |
| 0:16.0 | And I love this question from Creative Mechanic to kind of follow up on this. |
| 0:19.5 | What does the food financial order of operations look like for those of us with a combined |
| 0:24.5 | income of less than 50K a year right now? |
| 0:27.4 | So more at the beginning of the journey. |
| 0:29.7 | Are there any tips to maximize savings or to do the food in the best way with a lower |
| 0:34.6 | income? |
| 0:36.6 | I find that this is what's so cool about wealth is that it's on a scale that really |
| 0:45.1 | is so personalized to everybody in their journey. |
| 0:49.0 | Because look, we have educators that are clients of our firm that never made a great, never |
| 0:54.4 | had huge incomes. |
| 0:55.4 | Never had huge incomes, but either had pensions or they just were very diligent with their |
| 1:02.0 | savings. |
| 1:03.0 | And that's why we even, we had an earlier question saying, hey, can I move on from six |
| 1:08.1 | maxing out retirement once I hit 25% even if I'm not maxing out my 401K? |
| 1:14.1 | Of course you can because we want you to get to that step seven, which is hyper accumulation, |
| 1:19.1 | the three buckets as well as get to step eight, which lets you start funding the kids |
| 1:22.9 | college and so forth. |
| 1:24.7 | We have designed this so that it does work no matter where you are. |
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