finances can be complicated but they don't have to be i break down financial topics that may seem

complex and overwhelming so you can start taking action on your financial goals i'm a

tally and it all starts here on Personal Finance Redefined.

Hello everybody and welcome to another episode of Personal Finance Redefined.

Hope you've been enjoying it.

Please feel free to share it with your friends.

If you think they would find it helpful, I try to help as many people as possible.

And I hope you've been enjoying it.

So we'll get right into it. Today's episode

is about what saving an additional $20 a month can do for you. So the hardest part about

building wealth for the majority of the population has really nothing to do with picking stocks

or what the right asset allocation is, whether you're invested actively versus passively,

as I've talked about in previous episodes, or even the macro economy or any of the other stuff

professional investors spend their time debating.

The hardest part about building wealth for most people is the process of saving money

on a consistent basis.

Even $20 a month, and that's what I'm going to show you today, could have an enormous impact

if you give yourself a long enough runway.

So to do this, I'm going to use an example.

I'm going to use an IRA and a Roth IRA as examples. And the difference is, once again,

with an IRA, as I've spoken about in previous episodes, just as a recap, an IRA, well,

that's going to use pre-tax dollars. So you're going to get a tax deduction on that income that you

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