Are you ready to take control of your financial future? In this episode, we're breaking down the four levels of wealth—a powerful framework that can help you understand where you stand financially, where you want to go, and how to get there. Whether you're just starting out, working toward financial independence, or dreaming of reaching elite levels of wealth, this conversation is packed with practical tips, insights, and motivation to help you move up the wealth ladder.

We'll explore how Millennials and Gen Z can assess their current financial standing using two key formulas, and we'll share actionable advice for moving from the lower or mid levels to higher levels of wealth. Along the way, we'll highlight common mistakes to avoid and strategies for staying motivated, even when progress feels slow.

If you've ever felt stuck in your financial journey or wondered how to reach the next milestone, this episode is your roadmap to leveling up. Let's dive in and build a brighter financial future together!

We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at [email protected].

Other Related Episodes

2020: Budgeting

Spending Control

2021: Forming an Annual Budget Episode

How to Increase Your Savings Rate

2022: How Is Your Budgeting Going? 

2023: How to Prioritize Your Spending

Negotiating Salaries - How to Increase Your Income

5 Ways to Limit Lifestyle Creep

2024: Reach Your 2024 Goals By Budgeting

Understanding FIRE: How the Financial Independence Retire Early Movement Applies to You

The Millionaire Next Door Discussion, Part One

The Millionaire Next Door Discussion, Part Two

In this special episode, we're revisiting one of our favorite annual topics: gratitude. It's no secret that practicing gratitude can lead to a happier and more fulfilling life—but did you know it can also play a key role in building wealth?

Join us as we reflect on the year 2024, share heartfelt messages of gratitude from our listeners, friends, and family, and discuss why focusing on abundance—rather than scarcity—can help you grow your wealth and make wiser financial choices. We'll also discuss how gratitude can serve as a powerful antidote to the negativity of social media and the 24-hour news cycle, helping you reframe your mindset and focus on what truly matters.

Whether you're looking for positivity or inspiration to incorporate gratitude into your financial journey, this episode is for you. Tune in to start reflecting on what you're grateful for and get inspired for how gratitude can shape a brighter, more abundant future.

We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at [email protected].

Resources:

Free Yale course: The Science of Well-Being 

Br. David Steindl-Rast on gratitude

Insurance can be a confusing and often overlooked part of personal finance, but it plays a critical role in safeguarding your financial future. In this episode, we're joined by Michael Silverman, President and CEO of Silver Lining Insurance Agency, Inc., and an independent insurance agent with over 40 years of experience. Together, we break down the essentials of insurance, including the common mistakes people make, how to adjust your policies for different life stages, and why regular reviews of your coverage are so important.

Michael also shares practical tips for Millennials and Gen Z on shopping for insurance, insights on rising premiums caused by severe weather events, and how independent agents can help find personalized coverage that meets your unique needs. Whether you're navigating auto, home, health, or life insurance, this episode provides the expert advice you need to make smart decisions and protect what matters most.

As 2024 comes to a close, we'd love to hear from you! For our final episode of the year, we're focusing on gratitude and reflection. If you'd like to share something you're grateful for this year--whether it's a financial win, a personal achievement, or a moment that brought you joy--send us a message! Your stories could inspire others and help us close the year on a positive note.

For any questions, comments, or topic suggestions, email us at [email protected].

Resources:

Michael's firm's website - Silver Lining Insurance Agency 

In this episode, we're tackling an essential yet often overlooked personal finance topic: estate planning. Whether you're just starting out in your career or well along your wealth-building journey, having an estate plan is critical for protecting your assets and loved ones. Our guest, Olesya Sidorkina, an experienced estate planning attorney, breaks down everything you need to know about wills, trusts, and avoiding probate. We'll discuss common mistakes, affordable options for young professionals, and why estate planning isn't just for the wealthy. If you've ever wondered where to start or why it's important to plan ahead, this episode is your guide to understanding and securing your financial legacy.

For any questions, comments, or topic suggestions, email us at [email protected].

Resources:

Olesya's firm's website - Essential Legal Planning

Today, we're diving into the second part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak?

In part one, we covered the current state of the U.S. economy, Anastasia shared some exciting personal news, and Bill explored the ten factors that make the U.S. economy the strongest in the world.

In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective.

Whether you're feeling stressed or anxious about the election results or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast.

For any questions, comments, or topic suggestions, email us at [email protected].

Resources:

The Great Millennial Divide article

Morgan Housel's podcast

Wait But Why - Why I Lugged My 27-Pound Toddler to a Rocket Launch

SpaceX catches Starship rocket booster

The Internet and the Pandemic - Pew Research

Previously, we discussed market volatility leading up to the U.S. election. Today, we're diving into the first part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak?

In part one, we'll cover the current state of the U.S. economy, Anastasia will share some exciting personal news, and Bill will explore the ten factors that make the U.S. economy the strongest in the world.

In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective.

Whether you're feeling stressed or anxious about the election or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast.

For any questions, comments, or topic suggestions, email us at [email protected].

The Envy of the World: The Economist special report 

Check out our related recent episode, Three Mistakes Investors Make During Election Years 

The election is stressing everyone out

In this episode, we're diving into a topic that often seems distant for younger generations: Social Security. Many millennials and Gen Zers might think Social Security won't impact them for decades, but it's crucial to start understanding it now. We begin with a brief history of Social Security and explain how it works in the U.S. We'll explore why Social Security is still important for younger people's retirement planning and address the burning question: Is Social Security really running out?

We'll discuss what factors are leading to concerns about the program's future and what potential reforms are being considered to keep it sustainable. Finally, we break down the key factors that determine how much you'll receive in Social Security benefits and offer insights on what younger generations should keep in mind as they plan their financial future.

This episode is packed with important information to help you plan for long-term financial stability. Leave a review or send us your questions at [email protected]!

Resources:

Retirees Face a $17,400 Cut If Social Security Isn't Saved

Social Security's Financial Outlook

In today's episode, Anastasia is joined by a special guest--her husband Dean--to explore the intersection of finance and romance. Managing finances in a relationship has its challenges, especially when one partner takes on the role of the "CFO" while the other is more hands-off. We share our personal experiences of navigating money management together. We'll discuss how we decided who would take the lead in handling finances, the challenges and benefits of this dynamic, and how we maintain open communication and shared financial goals. Whether you're the primary financial planner or your partner is, we've got practical tips to help you create financial harmony in your relationship. Plus, we'll dive into lessons learned and even our dream financial superpowers!

Tune in to discover how to work together on building wealth while maintaining a strong partnership. Don't forget to leave a review or send us your questions at [email protected]!

Check out our previous related episodes:

Timing Matters: When to Merge Finances with Your Partner (May 2024)

How to Build Wealth With Your Partner (February 2023)

Discussing Finances with Your Life Partner (July 2020)

Bonds 201 (April 1, 2021)

How do U.S. elections impact the stock market? In this episode, we dive into "election anxiety" and how it affects your investment decisions. We'll explore the historical data on market performance during election years, whether it matters which political party controls the government, and the three common mistakes investors often make during the election season. Plus, we'll share actionable strategies to help you avoid these pitfalls and provide perspective on the best mindset to adopt during politically charged times. If you're feeling uncertain about the upcoming election and your investments, this episode is for you!

Tune in to learn how to navigate market volatility during election seasons and keep your investment strategy on track.

For any questions, comments, or topic suggestions, email us at [email protected].

Resources:

List of largest daily changes in the Dow Jones Industrial Average

S&P 500 Chart

In today's digital age, fraudsters are becoming more sophisticated, targeting individuals through online scams, phishing emails, and identity theft. In this episode, we dive deep into how you can protect yourself from falling victim to fraud. We'll cover key strategies to recognize suspicious emails, phone calls, and messages, and how to verify the legitimacy of companies, investment opportunities, or charities before engaging with them. Learn about common psychological tactics scammers use to manipulate their victims, and discover practical steps to safeguard your personal and financial information. Whether you're shopping online, using mobile apps, or receiving unexpected communications, this episode will equip you with the knowledge to stay vigilant and secure. Join us as we explore how to respond to fraud, report fraudulent activities, and take proactive measures to protect yourself in an increasingly connected world.

For any questions, comments, or topic suggestions, email us at [email protected].

Resources:

Info on the Social Security number leak

Check if your Social Security number was leaked

Access Your Credit Reports

Info on Credit Card Liability

Rescuing Your Hacked Social Media Account

How to Protect Yourself from Sim Swap Scams

How to Freeze Your Child's Credit