401k's Are Not Scams

09/12/23 • 31 min

Dive deep into the world of 401Ks and retirement planning with Dr. Preston Cherry on "The Life Money Balance Podcast." He'll demystify the complexities, debunk social media myths, and focus on vital legislation like the ERISA Act. But it's not just about rules and numbers – Dr. Cherry will explore the personal side, discussing what 'enough' means for you. Plus, he'll break down the benefits of 401Ks, diversification, and compare them to IRAs. Discover wealth-building strategies like permanent life insurance and the backdoor Roth, all while realizing the importance of saving 12-20% for retirement. Get ready to be informed and empowered to shape your retirement confidently!
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#lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation

Previous Episode

Flexible Wealth: Diverse Investment Account Types with Christine Benz

Imagine being able to balance your long and short-term financial goals with ease, mastering the art of diversification, and having that sweet spot where your portfolio works for you. Sounds enticing, doesn't it? In this rich conversation with Christine Benz, the Director of Personal Finance at Morningstar, we peel back the layers on capital gains tax, the benefits of Roth IRAs, and how to maximize your 401k plan. Tune in as Christine brings clarity to these complex matters, teaching us about the flexibility of using Roth IRAs as training wheels accounts and even dissecting the intricacies of 401k plans according to employer size.
As we steer the conversation further, we discussed investment strategies that can simplify investing for those who might feel overwhelmed by stocks and bonds. Christine shares her wisdom on the value of index funds, exchange traded funds, automatic features, and target date funds. We also delve into the bargain of retirement funds for compounding and tax breaks, highlighting the unconventional yet beneficial policy of benign neglect. So whether you're a pro at managing your finances or just starting to build your financial plan, this episode is packed with insights that will empower you in your journey. Don't miss out on the chance to be in control of your financial destiny. Tune in now and let's navigate the complex world of retirement planning together!
Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom
Subscribe to Life Money Balance® YouTube for content beyond the podcast
Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting
Connect with us across social media for more content - top right corner
Find your story & learn about services that fit your journey
Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show.
#lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation

Next Episode

Ways to Set Your Financial Boundaries

Ever wondered if the clarity of your financial boundaries could be the key to your emotional well-being and financial growth? Today, Dr. Preston Cherry sheds light on the necessity of financial boundaries for a stress-free life and financial advancement. He illustrates how these boundaries act as a fortress, safeguarding our money by providing clarity and control, preventing regret, and avoiding conflicts. We explore how to define our limits, prioritize our aspirations, and say no when necessary. This episode is a treasure trove of practical strategies and tools that will set you on the path to financial freedom and wellness.
Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom
Subscribe to Life Money Balance® YouTube for content beyond the podcast
Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting
Connect with us across social media for more content - top right corner
Find your story & learn about services that fit your journey
Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show.
#lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation