Welcome back to another episode of the IRA Cafe podcast! In this episode, Jasmine Trocchia sits down with Charly Stoever—nonbinary Latinx money coach, digital nomad, and host of the Unicorn Millionaire podcast. Charly specializes in coaching six-figure earning LGBTQ+ and BIPOC clients, guiding them toward early retirement and robust passive income through investments and savings—particularly as a self-professed "Roth freak" advocating for Roth IRAs. 

Jasmine and Charly cover a wide spectrum of modern money management topics, from the benefits of maximizing Roth accounts, to advice for self-directed IRA account holders, to the intersection of entrepreneurship, identity, and investment philosophy. Charly shares personal stories about transitioning from teaching to stockbroking and eventually to financial coaching, giving insight into the importance of boring, consistent investment strategies, the value of ignoring financial "noise" on social media, and the emotional aspects of wealth building—especially for those from marginalized backgrounds. 

The episode also explores alternative investments, the changing landscape of income streams in light of economic shifts and AI, and Charly’s unconventional digital nomad lifestyle, including international pet sitting to save on expenses. You’ll discover the importance of having a professional support network, the nuances of tax planning, and how self-awareness and intentionality are crucial for building a sustainable financial future.

Key takeaways:

1. The Power and Benefits of Roth IRAs Charly is a passionate advocate for Roth accounts, emphasizing their “juicy tax benefits.” They highlight the peace of mind that comes from paying taxes on retirement funds now, rather than in the future when account balances (and potentially tax rates) may be much higher. Charly also points out the importance of maximizing contributions to Roth IRAs and Roth 401(k)s as a core part of long-term wealth building.

2. Stay the Course with Boring, Proven Investments A major piece of advice Charly offers is to “ignore the noise” and stick with simple, long-term investment strategies—specifically, low-cost index funds that track the S&P 500. They warn against chasing hot tips or viral trends on social media, and instead advocate for consistent, steady investing in tried-and-true assets.

3. Ownership and Control in Financial Planning A core part of the conversation centers on how self-directed IRA holders—and investors in general—benefit from taking charge of their own accounts and decisions. Charly’s personal mission is to empower marginalized communities, especially LGBTQ+ and BIPOC individuals, to self-manage and understand their investments rather than relying solely on outside advisors.

4. The Importance of Diversifying Income Streams Looking to the future, Charly notes that depending on a single employer or salary is riskier than ever. With layoffs happening across sectors (public, private, and tech), diversifying income—through entrepreneurship, side hustles, or investing—is key. Charly lives this out as a digital nomad, running their own business and supplementing income with things like pet sitting.

5. Investing Is Emotional—Process and Perspective Matter Charly discusses how money coaching often involves “money therapy”—helping clients process emotions and beliefs around money, not just the numbers. They emphasize the importance of maintaining perspective during volatile markets and advise against panic selling. Taking the long view and understanding that downturns are normal parts of investing helps build resilience and peace of mind.

Whether you’re new to self-directed IRAs, exploring nontraditional career paths, or looking for actionable tips on optimizing your retirement accounts, this episode is filled with candid advice and empowering takeaways to help you take control of your financial future while staying true to your values. Don’t forget to check out Charly's work at UnicornMillionaire.com and connect on Instagram @TravelerCharly!