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The Personal Finance Podcast

Should You Save for A House or Contribute to an IRA?!

The Personal Finance Podcast

Andrew Giancola

Business, Investing, Entrepreneurship

4.71.4K Ratings

🗓️ 23 May 2022

⏱️ 17 minutes

🧾️ Download transcript

Summary

Welcome to the first episode of Money Q&A! Today we answer: -Are Roth Contributions deductible without Penalty if under 59.5 and in the account for less than 5 years?  -What if My Employer Does Not Do a 401(k) Match Should I Still Invest?  -I am Trying to Save in an IRA but Actively searching for a home, any tips?  Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get in touch with me.  FREE GUIDES: ============== -Check out the free guide on where to put your money in what order!  https://www.mastermoney.co/stairway-to-wealth -Here is the free How to Ask for A Raise ebook! https://www.mastermoney.co/get-a-raise-ebook -Get Access to the 75 Day Challenge: https://www.mastermoney.co/75daychallenge  === Sponsors:  Thank you to Better Help for sponsoring the show! Check them out at betterhelp.com/pfp Thanks to Policygenius For Sponsoring the show! Check them out a Policygenius.com Thanks to Mint Mobile for supporting the show! Cut your phone bill to $15 a month by going to https://mintmobile.com/pfp Thanks to Fundrise for Sponsoring the show! Invest in real estate for as little as $10 by going to fundrise.com/personalfinance Thanks to Gusto for sponsoring the show! Check them out at Gusto.com/pfp Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! ============ Episodes Mentioned More Episodes You Will Love:  The Stairway to Wealth 2.0 (The Order You Should Put Your Money in!) How to Track Your Net Worth How to Set Money Goals You Will Actually Achieve How To Prevent Lifestyle Creep (Lifestyle Inflation) 7 Ways to Pay Down Your Student Loans Faster How You Can Have a Free Car for Life (It's True!) Why Your Savings Rate Matters  ============ Check out all the Stuff I Recommend!  USEFUL RESOURCES: Best Place to Open a Roth IRA: https://m1finance.8bxp97.net/5vzD1 My Favorite Free Net Worth and Budget Tool: https://fxo.co/905L Best High Yield Savings Account: https://bit.ly/3HpPjAr  Get a $10 Free Bonus with Acorns: https://bit.ly/3lV0LLE Best Bank and Debit Card for Kids: https://bit.ly/3pJeI09  Get $5 Free Bitcoin at Coinbase: https://bit.ly/3oIQOml Best Credit Building Tool: https://bit.ly/3rmBuwZ  Best Personal Finance Books: https://kit.co/MasterMoney/best-personal-finance-books  ============ DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am sharing my opinion.  AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. ============ Check us out on social fam!  Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

A little extra money helps everyone live their best lives and Chimes online checking

0:05.3

account is here to help you live yours. With Chimes online checking account you can

0:09.6

enjoy lots of perks like fee-free overdrafts up to $200. You can even get paid up to two days early with direct

0:16.9

deposit. No more pesky overdraft fees and no impact on your credit score to apply. And you can

0:22.2

pay friends through Chime,

0:23.8

no matter what bank account they use

0:25.7

and cash out your money fee-free.

0:28.0

Signing up for Chime takes just minutes.

0:30.2

So join the millions of Chime members

0:32.4

and sign up today.

0:33.5

Get started at chime.com slash PFP.

0:37.5

That's Chaim.com slash PFP.

0:40.5

Chaim is a financial technology company, not a bank. Banking services and debit car provided by Bank Corp in a or Stride Bank in a members FDIC. Eligibility requirements and overdraft limits apply. Access to direct deposits up to two days early depends on timing of the submission of the payment of file from the payer

0:58.0

out of network ATM withdrawal fees may apply.

1:01.0

If you have a family like I do and they depend on your income, then you need

1:06.1

life insurance and policy genius was built to modernize the life insurance industry.

1:11.0

Their technology makes it easy to compare life insurance quotes from America's top insurers.

1:16.0

With Policy Genius, you can find life insurance policies that start at just $25 per month for $1 million of coverage.

1:23.8

Some options offer coverage in as little as a week and avoid unnecessary medical exams.

1:28.6

Policy Genius has licensed agents who can help you find the best fit for your needs and they work for you not

1:34.2

the insurance companies they are not incentivized to recommend one insurer

1:38.0

over another so you can trust their guidance and there are no added fees and

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