7 Cashflow Milestones Worth Celebrating!

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7 Cashflow Milestones Worth Celebrating!

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.
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As a passive investor, is it wise to buy market tracking index funds and ETFs from companies like Blackrock, Vanguard and State Street, even when they're at all time highs? i want to invest around 600k for retirement

AlyceJefferies
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01:55 1 Saving $100/Month
08:40 2 Maxing Out Your Roth IRA
14:30 3 Saving $1, 000/Month
18:42 4 Monthly Savings>Monthly Debt Repayment
22:02 5 Maxing Out Your 401(k)
26:30 6 Investing 25% Towards Retirement
31:40 7 Your Investments Exceed Your Spending

MrEscape
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This month is the first month I’m putting $583 a month into my ROTH IRA. At age 29 I’m excited to be on my path to financial independence. Thanks Money Guys!

jakethiringer
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We are both 32, 2 kids. We’ve passed milestones 1, 2, 3, 4, and 6. Step 5 and 7 would be a lot for us, but maybe some day! We both started investing early at 22, so it’s been awesome to see what has happened in 10 years 🎉

spdog
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Achieving positive cash flow is definitely something worth celebrating.

OwenFlex
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20:48 when he said "go for a walk" my wife and I both started laughing because that's totally how we'd celebrate 🤣

stephencolor
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It is better to create chapters for long videos

melodyn
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FYI I did the math and milestones 5 and 6 will be flipped for those who earn less than $136, 600 in 2024 and follow the FOO. See below for my explanation of how I came up with that number.

People who follow the FOO (i.e.maxing out HSA and Roth IRA prior to maxing out 401k) would have to invest $34, 150 in 2024 to max out their HSA ($4150), Roth IRA ($7000), and 401k ($23000). Obviously there is some nuance because this calculation assumes you have an HSA, your employer does not contribute yo your HSA, and that you are under 50 (i.e., not eligible for catch-up contributions). For $34, 150 to be a 25% contribution rate, you would have to earn $136, 600 (i.e. 34150 * 4). Thus any earnings over $136, 600 would max out all retirement account before hitting the 25% investment rate.

USCMM
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Made it through step 4, now working on how to balance additional long-term investments and liquid savings for 1-5 year goals. Want to make sure we aren't so focused on our 30+ year future that we don't enjoy the journey along the way and have cash on hand to avoid financing avoidable debt.

nathanfinster
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Hey, did Brian write a book? He doesn't mention it much 😉

irishi
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A rich life which gives you a little bit of time and work-life balance costs you financial independence because it'll be low paying. Tough choices to make. Keep in mind, investing provides a jumpstart to financial freedom. At 34, I already have a $6m portfolio.

KeanuReevesf
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“Money is not a goal, its just a tool.”
I love that!! What a great mindset!

dancingoctopus
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I feel pretty darn good after this one. I am 46, debt free and have milestones 1 - 4 knocked out. I also save 41% between my HSA, 401k and Roth IRA and 18% into cash reserves and short term savings so I am also knocking out 6 & 7. Maybe 18% is high for non invested savings but I am saving for an eventual car (current is 14 years old) but that savings rate may shift in a couple of years. The only milestone I am missing is maxing out my 401k. That is an income situation more than anything. I make 65k a year which is pretty good for a single income for my area. I am also a home body and most of my hobbies are things like drawing, reading, running D&D games, playing videogames, cooking, gardening, and playing guitar. So I don't spend on going out too often and I am not really into travel. I might splash out for a game or a vinyl album for my collection but not much spending. I keep my savings aggressive mostly to make up for my 20's. at 46 I have around 300k in retirement and about 15k in savings. I know I am behind so I am trying to load up as much as I can now so I have the most time to compound.

Jason-lclp
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I found this video to be super super helpful for those of us who aren't at the bottom drowning in debt but aren't quite financial mutants either. Having these quantitative tasks to check off made the path so much clearer. Thank you!

AlexaVonSuess
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I love the smirk Bo gets every time we hear about the bowling point. 18:02

Burning.Phoenix
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Glad I found this channel, milestone #7 at the age of 35 (now 38), I feel like I life is on cruise control. Now my focus is downloading this knowledge to my kids to set them up for their journey. My hope is that this this knowledge and habits become generational.

thechunwu
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Beau’s smirk when he hears “bowling point” is a major podcast milestone you guys should get “excited about”.

johnboughner
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I brought lunch to work for 40 years, it’s paid off!

kckuc
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One place I always save big, food. I have to make everything from scratch and can seldom eat out for health reasons. Even stopping processed snacks saved. Will hopefully be maxing out my Roth for the first time by December if everything goes well. I didn’t start taking things seriously until recently, but watching your videos keeps me motivated!

coyacoy
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I love Bo's intro. In every video, Bo would say, "I am so excited about this." It would be really sad if I don't get to hear that.

KhoaNguyen-qhks