There are so many myths about money that you need to be aware of.

I tackle 17 money myths that in some way or another I have encountered in my life.

For show transcript/notes go to habeshafinance.com/19.

I had the pleasure of chatting with a good friend of mine Salim Shukur, CEO and Founder of Shukur Motors and Shukur Transport. He has a very amazing story of how right after graduating from college he found his passion for self-employment and owning his own business.

Salim saw the struggle his family and friends faced when trying to purchase a vehicle and shares with us his journey to becoming a business owner.

Shukur Motors Facebook Page -> habeshafinance.com/shukurmotorsFB

Shukur Motors Instagram -> habeshafinance.com/shukurmotorsIG

“If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” - Warren Buffett

This episode is dedicated to the three rules of investing that helped jumpstart my investment portfolio in the right direction for me.

Rule #1: I Do Not Invest In Single Stocks

Rule #2: Know My Risk Tolerance For Where I Am

Rule #3: Never Panic, Stay The Course

For show notes/transcript go to habeshafinance.com/17

Awesome experts you should check out and their websites and books:

John C. Bogle - Founder of Vanguard, book -> habeshafinance.com/boglebook The academics of investing laid out in this book are excellent and timeless.

Paul Merriman - paulmerriman.com - So much FREE awesome material.

JL Collins - Wrote "The Simple Path to Wealth" - habeshafinance.com/jlcollins

Einstein called compound interest the most powerful force in the universe.

In this episode we cover the basics of compound interest and explore the opportunity cost with common monthly expenses. Find out exactly how much that daily latte or your car payment could really cost you.

You can find in the show notes at habeshafinance.com/16 a pretty cool table that shows you the year by year progression of the different saving items. You'll see how much you could have accumulated after 10, 15 up to 40 years of saving and investing the same amount you would be throwing at various monthly expenses. Just go check it out!

Compound interest calculator used: habeshafinance.com/investorgov

For show notes and transcript go to habeshafinance.com/16

We go over the 2nd free tool that we use to maintain financial control of our lives and I'm confident will help you too.

What is your net worth?

Net worth = assets - liabilities.

Assets include the amount in the bank account, taxable and tax-advantage accounts, value of home...

Liabilities include a mortgage, car note, debt, 401k loans...

Personal Capital - an awesome and free net worth tracker. habeshafinance.com/pc. Easy way to support Habesha Finance / simply sign up for a FREE Personal Capital account using this affiliate link.

Google sheets net worth tracker - habeshafinance.com/googlesheetsnwt

For show notes and transcript go to habeshafinance.com/15

We begin a two part series on two free financial tools that my wife and I have been using to get out of debt and gain financial control and I’m confident these two tools can help you too.

Free budget apps and spreadsheet: habeshafinance.com/resources

Google Budget article: https://habeshafinance.com/your-guide-to-google-sheets-budgeting

Excuses for not budgeting:

“Budgeting is hard.”

“Budgeting restricts me.”

“I’m too busy.”

“Budgeting is complicated.”

“I’m too lazy.”

I also cover the reasons why we budget to this day and the best method we use for monthly budgeting.

For show notes and transcript go to habeshafinance.com/14

In this episode we explore the "why" of financial independence? I share my parents story coming to the United States of America as Ethiopian immigrants.

This episode will:

1. Inspire you.

2. Show you that financial independence is for all.

3. Help you realize the impact of your choices.

Figure out your "why" before you figure out your "how."

Show links:

For Business Insider article on high school and personal finance course: https://ha eshafinance.com/businessinsider

For show notes and transcript go to habeshafinance.com/13

We continue exploring different retirement accounts with this final episode of this 5 part series about Health Savings Accounts, HSAs.

As of 2018 the maximum contributions you can make to an HSA is $3,450 for a single person and $6,900 for a family.

Triple tax-advantaged:

1. Contributions are pre-tax or tax-deductible.

2. All earnings and interest are tax-free.

3. Do not pay taxes on any withdrawals for qualified medical expenses.

List of medically qualified expenses, habeshafinance.com/qualifiedhsa

For show notes and transcript go to habeshafinance.com/12

We continue exploring different retirement accounts with this episode as we look at the SEP IRA, SIMPLE IRA, Solo 401(k) for the Self-Employed.

SEP IRA - Simplified Employee Pension IRA

SEP IRA available to any business of any size.

SIMPLE IRA - Savings Incentive Match PLan for Employees IRA

SIMPLE IRAs are available to any small business, usually with 100 or fewer employees.

Solo 401(k) is a traditional 401(k) plan covering a business owner with no employees, or that person and his or her spouse.

For show notes go to habeshafinance.com/11

We continue exploring different retirement accounts with this episode as we look at the backdoor Roth IRA and mega backdoor Roth IRA.

Open a traditional IRA, make a non-deductible contribution, and then convert that contribution to a Roth IRA. Makes sense for high income earners who aren't eligible for a Roth IRA.

Strategy to have 100% of the conversion come from the non-deductible contributions covered in this episode.

Mega backdoor Roth IRA depends on your 401k/403b plan feature.

For show notes go to habeshafinance.com/10

Check out White Coat Investor podcast at habeshafinance.com/wcipod