Low Income, Late Start: What Should I Do?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 10 February 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"Is there a good way to know how much to contribute if you are behind? I’m 32 with about $40k invested. I make $55k in gross annual income. I’m currently saving 25% between 401k and HSA (including match). I'm honestly not sure how much more I could contribute realistically, but I like to have goals to work towards." We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Low income, late start, what are you to do?
0:10.0	Brian, I am so excited to talk about this because people ask us all the time, hey, based on where I am today, I think I may be behind.
0:18.0	I don't know, maybe I've made a mistake that is insurmountable.
0:21.6	I want you guys to speak into it.
0:22.6	And we love that we get to speak into that kind of stuff.
0:25.6	We love that we get to answer the things that you care about.
0:29.6	We love it so much that every Tuesday at 10 a.m. Central, we do a live stream where we want to answer your questions and load you up so that you can do money better.
0:38.3	So with that, right now we have the team out in the wings collecting your questions so that we can load you up.
0:45.3	So with that, senior content developer, Megan, I'm going to send it over to you.
0:50.3	Did you write that down on the sticky?
0:52.3	I just pulled out.
0:53.3	I was sitting here thinking there's no way he's going to stick this.
0:56.0	Thought about it all week.
0:57.0	Fifth times the charm, Bo.
0:59.0	All right.
1:00.0	We're starting.
1:01.0	Siburn.
1:02.0	Dropping bombs over there.
1:05.0	All right.
1:06.0	Cool.
1:07.0	Cool, cool, cool, cool. All right, we're starting off with a question from MH. They say, is there a good way to know how much to contribute if you are behind?
1:14.7	I'm 32 years old with about $40,000 invested.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.