Episode #24: New Year’s Resolutions


The Principle:

As the year winds down, consider improving your financial health and starting fresh with these New Year’s resolutions in 2019.

(Click the featured times below to jump forward in the episode)

Honest Takes:

[00:16] – Making New Year’s Resolutions.  

  • It’s that time of year when folks start thinking about their New Year’s resolutions. However, Brian suggests that consistency is more valuable than a fresh start.

[1:15] – Ed Slott Suggests Some Financial Resolutions.  

  • Ed Slott is an author, speaker, and financial expert. He challenges you to improve your retirement by contributing to a Roth IRA, converting your IRA into a Roth IRA, and working with a fiduciary advisor.

[1:49] – How To Keep Your Resolutions.

  • Education is key to helping you keep your financial resolutions. We want to educate you about your finances, and we want to re-educate you as you forget what you’ve learned. Consistent education will give you a holistic perspective on your finances.

[2:14] – Think Of Your Roth IRA Like A Fixed Interest Rate.

  • Once you pay the taxes up front on your Roth IRA contributions, you’ll be done paying taxes on that account forever. You won’t have to pay any taxes on the growth in that account. It’s a bit like securing a fixed interest rate on your home. Once you’ve locked in that interest rate, you know it will never change.

[4:00] – Consider Longevity.  

  • Retirement is a marathon, and you’ve got to make your money last until the end. The tax distribution on a Roth IRA considers your long-term investment strategy.

Today’s Truth:

Other Virtues:

The host: Brian Bowen – Contact

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