Financial Pathway

The IRS recently extended the 2020 IRA contribution deadline. Instead of April 15th, you can now make a 2020 contribution to an IRA up until May 17th, 2021. With so many Americans receiving a stimulus check or tax refund (or both!) now might be a great time to invest excess cash in an IRA. 

In this episode we'll break down some of the key differences between Traditional and Roth IRAs and give you four key questions to ask that will help you determine which type of IRA is right for you.

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

We've all been guilty of being over-budget from time to time. Maybe we spent an extra $50 last month on restaurants or we went $200 over our price limit on Christmas gifts. However, there's a big difference between occasionally being over-budget and a harmful pattern of overspending.

So how do we know if we're overspending? And more importantly what motives are at the core of our decisions to spend more than we know we should? 

In this episode, we'll talk through five rationalizations people use to justify their unhealthy spending habits. We'll follow up with eight practical ideas you can use to guard against this destructive habit of overspending.

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Buying a house is one of the most stressful experiences of your life. It's understandable considering that your home is probably the biggest purchase you'll ever make and it's place you will spend the vast majority of your time! And now that spring is here and the weather is warmer, that usually means there will be an increased number of home buyers on the market.  

In today's episode we'll highlight some important mistakes to avoid in the home buying process. So whether you're a first-time homebuyer or you're on your tenth home, these are some helpful tips that bear repeating. 

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Here's a question I've gotten a lot recently: what should I do with my old 401k? Many Americans opt to roll over their 401k into an IRA after they've separated employment, but is this the best option for you? This is one of the most important decisions you will need to make regarding your retirement savings so I decided to dedicate a whole episode to it.

In this episode we'll outline your 4 available options for your old 401k: leave it, cash it out, move it into your new plan, or roll it over into an IRA. We'll also discuss some of the biggest pros and cons of rolling over your 401k vs leaving it where it is. 

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Multi-level marketing (otherwise known as network marketing or direct sales) is a massive industry boasting millions of distributors and billions of dollars in annual sales. These companies sell a wide variety of products including clothing, essential oils, cosmetics, vitamins, shakes, insurance, jewelry, and much more. MLM enthusiasts claim that their unique structure empowers each member to: "Escape the 9-5", "Be your own boss", and "Enjoy unlimited earning potential".

Even if you've never worked in multi-level marketing, you very likely know people who do. And depending on who you ask, you'll get strikingly opposite opinions either for or against MLMs.

In this episode, I'll explain how the MLM business structure operates and offer 3 reasons why I'm not a fan of this business model.

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Proverbs 13:22 says that a good man leaves an inheritance to his children's children. Saving for you children's future is a noble goal and one that requires careful thought and planning. 

Before you decide on how you want to save money for your children's or grandchildren's future, consider these six options and their unique pros and cons. 

Links mentioned in the episode:

https://www.savingforcollege.com/article/how-does-your-states-529-plan-income-tax-benefit-work

https://www.savingforcollege.com/article/what-you-can-pay-for-with-a-529-plan

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Unless you've been living under a rock this last year, I'm sure you've heard about Robinhood. It's the new investment app that's revolutionized the investment world by empowering individual retail investors to compete with the big Wall Street firms.

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

This is an excerpt of a longer conversation I had with Luke Clayton on his podcast Church Media HQ. Luke runs Must Increase Media and provides a variety of media solutions to churches. We talked about of variety of topics including church, politics, finance, faith, and more. Most of our conversation deals with expectations of a Biden presidency and how it may affect churches and church leaders. You can hear the full conversation over on the Church Media HQ podcast. 

Must Increase Media: https://mustincrease.com

Church Media HQ podcast: http://churchmediahq.com/podcast/

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

Gold has been a valuable commodity for thousands of years. Even when markets have collapsed and monetary systems have failed, gold has retained its value. 

With gold prices rising ~24% in 2020, maybe you've heard commercials or been advised by someone you know to invest in gold. Is now a good time to buy gold? When does it make sense and when does it not?

In this episode, we'll talk about the potential benefits and drawbacks of investing in gold and help you understand how gold has performed compared to other investment alternatives. 

Email: [email protected]

Website: nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc

We all know 2020 has been a crazy year! But before we officially welcome in 2021, here are some final financial tips for the end of the year. 

Take just a few minutes to consider whether one or two of these ideas can help you save or grow your money before the year is over. 

Email: [email protected]

Website: http://nateskelly.com

Facebook: https://www.facebook.com/financialpathwayllc