ACCOUNTANT EXPLAINS: How To Organize Your Finances (The 6 Must-Have Accounts)

In this video, we're taking a deep dive into the 6 essential accounts that will get your finances organized in tip-top shape. Checking accounts, High Yield Savings Accounts, Workplace Sponsored Retirement accounts, Individual Retirement accounts, Health Savings accounts & Taxable brokerage accounts all have a unique purpose and can help you in different ways. By the end of this video, you'll have a clear understanding of what you need to build your own financial toolkit and set yourself up for success. ✨

Timestamps
00:00 Intro
01:16 Checking Account
01:50 High Yield Savings Account
05:53 Workplace Sponsored Retirement a/c
12:29 Individual Retirement Account
16:37 Health Savings Account
20.19 Taxable Brokerage Account
22:17 Summary

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DISCLAIMERS & DISCLOSURES

This content is for education and entertainment purposes only. Maya does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

[waltzwalter]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.

[Raymondjohn]

Yes stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[Aengel]

I’ve been following your videos for months now and with professional help, I’m making outstanding progress with my money decisions.

[LoamWolf]

Excellent video! You really do a good job of explaining some of the nuance without getting into details that don't apply to most people.

[deehope]

Just came across your channel very clear and to the point information not a lot.of throwing around word and accounts without explanation especially to a lay man like me. Thanks a lot!!

[soscreativity]

Incredible breakdown! Maya Nijhawan's guide to organizing finances with the 6 essential accounts is a game-changer. Ready to build my financial toolkit and set myself up for success!

[valentine]

just exquisite, simple and direct, relatable to me, beginning next week, i am making use of all those accounts 😄

[fishjerky]

Holy shit you answered a lot of my questions I’ve been trying to figure out for years. Thank you

[stevent]

Great advice.
Would really like to hear about the “Work Around, Backdoor” Roth IRA option.

[Spotart]

We have 3 savings accounts and one checking (online bill pay) one debit for shopping groceries. Retirement accounts are separate.

[animeking]

Thank you for the video Maya! Thanks to your advice I have just opened up a high yield savings account with Synchrony Bank at 4.5%. The fees of my Credit Union traditional savings account were sending me backwards on my goals, but this will be a major game changer.

[margaretjohn]

Even though I am not in America, it's interesting to well done.

[TheDiverJim]

I would say your checking account should actually be 2 accounts: checking and savings at a local credit union/bank.

[MalluStyleMultiMedia]

The next Nischa 🔥🔥🔥

Good information

[davisamills]

Excellent video! I have all of these accounts and I 100% agree. But I've recently been hearing about money market accounts?? Whats your take on that type of account? Also can you do a video on the back-door ROTH IRAs?

[winsomeam]

Thank you, most helpful.
Have you done any videos on taxable brokerage accounts?

[sharonphillips]

I'm so proud of myself. I have all these accounts already! I also have a pre-retirement fund.

[lionessrising]

I have all these accounts. I’m proud of myself. All are fully funded yearly except the 403b. I also have a pension. 😊

[TheSUPERHAPPY]

Thank you for mentioning Canadian information.
More Canadian information *please*

[karenshook]

Yes video please on mega back door IRA. Thxs