How to Win With Money in Your 40s (Financial Planning 101)

How to Win With Money in Your 40s (Financial Planning 101)

Let’s make sure you’re on the path to financial success - then help you stay there!
The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW!

We can’t wait to see you accomplish your goals and reach financial freedom! New shows every week on YouTube and your favorite podcast app. Thanks for coming along on the journey with us.

[brandonmc]

Just turned 40, I totally feel what they are saying about feeling like I'm not broke. Within a year or so of having no mortgage, having a solid 6 month emergency fund, no car payments. Excited to see what I can build in the next 10 years

[cutehumor]

Exercise... exercise... exercise....when you hit 40, you can't eat the same garbage food anymore

[johnmilner]

The new set and lighting isn’t as good as the old but the information given is still great and on point

[patty]

I have been fairly good with money since my twenties and it was late thirties before I felt I had any wealth. It’s a long race…

Late 40’s for first million seems right as you say, but only for your audience; the substantial majority of Americans never achieve a net worth of $1M

[Ethernet]

What’s really weird is im 38 and feel like I just started, and I find myself using the calculations for people who start when they are 40….totally forgetting that I started at 26. I guess that makes me feel good in a way but at the same time immersed in the process to the point where I do r feel like it’s hard to do

[TheFirstRealChewy]

We are late to investing. Should have done so much more in our 20's and 30's. However, I feel like its not too late to start.

Think of the years you have prior to retirement as the number of years you could have in retirement. So estimate the time you have left in this world and divide it by 2. If you can invest as much money each month as you would need in retirement, then you are in a very good position. Keep increasing your investment to account for inflation.

If you have more working years ahead of retirement years, you are in an extremely good position.

Even if you can't save as much as you need per month on retirement, you may be able to work a little longer to give yourself an advantage, or start thinking about how you can make more money (side hustle), and cut expenses now and in retirement. The less expenses we have in retirement, the less money we need.

[anaa]

Oh man I am 39 and I am so behind 😩😩😩😩😩

[mgourneau]

When I’m looking at the money multiplier for compounding growth, should I use a different age if I want to retire at 55?

[kablah]

IRS is the worst creditor ever. Don't mess with the IRS.

[ouch]

Is everyone else's 401K losing money like mine?