The Mental Wealth Show with Rich Jones

PB84: Automate Your Way to Saving 1x Your Income


Listen Later

On this week's P&B Money Minute we discuss how to save 1x your income by age 30 and 3x by age 40 using a few automated tools we recommend. Marcus reveals why he finally logged back into his retirement accounts after a 12-month hiatus and the three step process you can follow to potentially increase your retirement savings without impacting your takehome pay. Plus, the automated tools you can use to make retirement savings easy. On this show we'll explain:

  • Maximizing your tax cut to supersize your annual IRA/401k savings
  • How one change in how you invest in your 401k combined with an employer-match might net you up to $70,000 by retirement
  • Why Investor.gov has become our new fav tool for quickly estimating FI/RE, compound interest, and retirement savings goals
  • The pros/cons of investing in a Retirement Target Date Fund versus an Index Fund
  • Why compound interest on savings from ages 20-40 might have more impact on your retirement than your contributions from ages 40-60

 

...more
View all episodesView all episodes
Download on the App Store

The Mental Wealth Show with Rich JonesBy Rich Jones

  • 4.9
  • 4.9
  • 4.9
  • 4.9
  • 4.9

4.9

993 ratings


More shows like The Mental Wealth Show with Rich Jones

View all
Money Guy Show by Brian Preston and Bo Hanson

Money Guy Show

3,178 Listeners

Money Girl by QuickAndDirtyTips.com

Money Girl

1,844 Listeners

The Stacking Benjamins Show by StackingBenjamins.com | Cumulus Podcast Network

The Stacking Benjamins Show

1,990 Listeners

Be Wealthy & Smart by Linda P. Jones

Be Wealthy & Smart

868 Listeners

Afford Anything by Paula Pant | Cumulus Podcast Network

Afford Anything

3,535 Listeners

Optimal Finance Daily - Financial Independence and Money Advice by Optimal Living Daily | Diania Merriam

Optimal Finance Daily - Financial Independence and Money Advice

1,279 Listeners

BiggerPockets Money Podcast by BiggerPockets

BiggerPockets Money Podcast

3,064 Listeners

Social Proof Podcast by Social Proof Network

Social Proof Podcast

1,951 Listeners

She's So Lucky by She's So Lucky

She's So Lucky

2,617 Listeners

Earn Your Leisure by EYL Network

Earn Your Leisure

7,802 Listeners

Market Mondays by EYL Network

Market Mondays

4,022 Listeners

The Table with Anthony ONeal by The Neatness Network

The Table with Anthony ONeal

2,036 Listeners

Nice & Neat The Podcast by Blue Wire

Nice & Neat The Podcast

877 Listeners

rich & REGULAR with Kiersten and Julien Saunders by rich & REGULAR

rich & REGULAR with Kiersten and Julien Saunders

420 Listeners

Catching Up to FI by Bill Yount & Jackie Cummings Koski

Catching Up to FI

337 Listeners