Send us a text

Season 2 Episode 3 of Not Me, But You! Podcast.

Referral code for I Trust Capital dot com- buy/sell crypto or gold/silver inside of a regular IRA or  Roth IRA. Use link https://itrustcapital.com/?referral_id=AAWC4U&utm_source=RAF


We cover employer sponsored savings plans like 403B and 401K's. Contribute the minimum amount in order to get the employer match. Think of the employer match part as "free money." 

We also talk about traditional (regular) IRA's and Roth IRA's. What is the difference? One is "tax deferred" and the the other is "tax exempt." Think of tax deferred as waiting to pay tax at a later time. Tax exempt means you pay ZERO tax! 

Have a separate emergency fund at a bank. Don't use your IRA or Roth IRA AS your emergency fund! 

Stocks: Two types... growth and dividend. Think of your stock investing as one train traveling on two parallel tracks. One track is growth stocks. The other track is dividend stocks. Dividend stocks are the ULTIMATE passive income! You buy once and then get money on a schedule(monthly or ever 3 months). 

Do your own research. I am not a financial advisor and I am not a tax professional and I am not a lawyer. Make your own decisions about what to do with your money. I've shared with you in this episode some things that I have done. You need to decide for yourself and be responsible for what happens with your investments. 

Research Peter Thiel: Lord of the Roth. He ended up with 5 Billion dollars inside of a Roth account. That means he can withdraw ALL of that money 100% TAX FREE! 

Two types of dividends: cash (regular) and qualified. A qualified dividend is often tax free. We will talk more about types of dividends in future episodes. 

Rolling (moving/transferring) money from previous employers 403B/401K into an IRA. Do not take "possession" of the money. This means have the check made out to the company where the IRA is located. Do not have the check made out to you personally. If you do, then you will likely owe taxes on the money, because you "took possession of it" which the IRS views as a distribution/withdrawal done by you personally. Instead of a rollover distribution which is where money flows from one account into a different account. 

Email me at [email protected] 

What Are You Passionate About Today? Have courage today to pick one thing, and work on your dreams! 

I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.