Chris Reining shares why maxing out your 401k could be bad.
Episode 879: Maxing Out Your 401k Could Be Bad by Chris Reining on Early Retirement & Financial Independence
Chris Reining is a thirty-something guy who provides resources to help manage your money and career to become financially free. His own path to financial freedom has had ups and downs, which is what he writes about on his site. He's been featured in the New York Times, on the Today Show, CNN, CBS, Business Insider, LifeHacker, and more.
The original post is located here: https://chrisreining.com/maxing-out-your-401k-could-be-bad/
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879: Maxing Out Your 401k Could Be Bad by Chris Reining on Early Retirement & Financial Independence

Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.

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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2704:
Kathleen Coxwell's guide "7 Ways You May Be Leaving Money on the Table When You Retire" offers essential strategies to ensure you're maximizing your retirement savings. Discover how to optimize your Social Security benefits, manage investments wisely, and avoid common pitfalls that can reduce your financial security in retirement.
Read along with the original article(s) here: https://www.newretirement.com/retirement/leaving-money-on-the-table-when-you-retire/
Quotes to ponder:
"Surprisingly though, many retirees and soon to be retirees overlook not just hundreds or even thousands of dollars, but hundreds of thousands in money that could be put toward retirement expenses."
"By claiming Social Security at the earliest possible date, many people are leaving a substantial amount of money behind because the longer you wait, the greater the benefits become."
"Your home is a valuable resource that really should be considered as part of your overall retirement plan."
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2704: 7 Ways You May Be Leaving Money on the Table When You Retire by Kathleen Coxwell of New Retirement

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2703:
Discover why paying off your mortgage early might not be the financial boon you expect in Len Penzo's insightful analysis. Penzo, leveraging historical examples and economic trends, argues that in a high-inflation environment, maintaining a mortgage could be more advantageous than clearing it early. Explore this counterintuitive approach to personal finance management and how it might apply to your financial strategy.
Read along with the original article(s) here: https://lenpenzo.com/blog/id25716-why-paying-off-the-mortgage-early-may-be-a-big-mistake-2.html
Quotes to ponder:
"Mortgage payments (became) no more than a nominal burden to (homeowners) - a consideration which dismayed the mortgage banks."
Episode references:
When Money Dies by Adam Fergusson: https://a.co/d/iJQCS7C
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2703: Why Paying Off the Mortgage Early May Be a Big Mistake by Len Penzo on How to Fight Inflation

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Episode 2702:
Chris from KeepThrifty.com shares his journey of trading the pursuit of financial freedom for a one-year mini-retirement to spend quality time with his children. Despite the financial setbacks, he values this period as an invaluable investment in family life, illustrating that sometimes, life's best returns come from the heart, not the bank.
Read along with the original article(s) here: https://www.keepthrifty.com/trade-financial-freedom-mini-retirement/
Quotes to ponder:
"Who doesn’t want financial freedom? Getting to the point that your passive income can cover your expenses buys you opportunities and time in a way that most people can’t imagine."
"Despite the allure, I took an active step away from financial freedom this year, choosing to delay my freedom date by over 2 years."
"Trading twenty-seven months of financial freedom for fourteen months of mini-retirement now seems like a pretty good deal when you put our life situation in context."
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2702: Trading Financial Freedom for Mini-Retirement by Chris of Keep Thifty on FIRE Lifestyle & Sabbaticals

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Episode 2701:
Philip Taylor of PTMoney.com shares invaluable insights on becoming the master of your financial destiny. He emphasizes that personal finance expertise doesn't necessarily require formal qualifications like a CPA or CFP but instead advocates for self-education and proactive financial management tailored to your unique circumstances.
Read along with the original article(s) here: https://ptmoney.com/becoming-your-own-financial-expert/
Quotes to ponder:
"I simply share my story with money - the good, the bad, and the ugly."
"Only by becoming your expert can you appropriately decipher the financial headlines of the day."
"The secret is three-fold as I see it: only you know the detailed ins and outs of your financial situation, no one cares more about your money than you, and all you need to do is keep learning and try new things!"
Episode references:
The Making of an Expert: https://hbr.org/2007/07/the-making-of-an-expert
The Automatic Millionaire: https://www.amazon.com/Automatic-Millionaire-Powerful-One-Step-Finish/dp/0767923820
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2701: The Secret to Becoming Your Own Financial Expert by Philip Taylor of PT Money on Money Freedom

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2700:
Explore strategic financial management through Kalen Bruce’s insightful guidance on taking control of your finances. Bruce emphasizes the importance of understanding cash flow, setting realistic goals, and investing wisely to build a prosperous future. His approach demystifies financial planning, making it accessible and actionable for anyone seeking to enhance their financial stability.
Read along with the original article(s) here: https://moneyminiblog.com/budgeting/10-ways-to-take-control-of-your-finances/
Quotes to ponder:
"Being in control of your finances helps you make valuable decisions regarding your finances and it helps you spend less than you earn."
"Never make money your stress button; it can be your happy button."
"Knowledge and patience are the keys to success."
Episode references:
Money Tracking Took: What We Recommend
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879: Maxing Out Your 401k Could Be Bad by Chris Reining on Early Retirement & Financial Independence

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