Tony’s Top 10 Recommendations - The Get Ready List 8-29-2024
Tony Steuer, CLU, LA, CPFFE
Changing the way we think about money | Best Selling Author | Podcaster | International Financial Preparedness Advocate | FinTech Advisor
Here are my top 10 things that I learned this week. Hopefully these will help you change the way you think about money and be financially prepared.
1) Interest rates may be dropping, now what?
Money Moves to Make When Interest Rates Drop from Laura D. Adams, MBA on the Money Girl Podcast. The Fed is expected to cut rates soon. That will have many downstream consequences for our financial lives. Laura also covers how the Fed use interest rates. Check out the podcast (here ).
2) Do you know your true goals?
Tim Calise joined me on The Get Ready Money Podcast to talk about understanding your true goals. We also discussed the importance of knowing who you are, building trust and why sticking to what you know reduces risk. Check out the podcast (here ).
3) What are some of the many ways to build wealth with passive investing?
I Make Over $200K a Year: 13 Ways I’m Building My Wealth in 2024 by Jordan Rosenfeld for Yahoo Finance . Alissa Krasner Maizes, Esq. shares her journey on passive investing. She talks about having an investment mindset and what her investment strategy is. Alissa also talks about mindful spending and other easy to implement habits. Check it out (here ).
4) Why personal finance advice should be personal?
The Importance of Specific Advice to You and Your Situation with Jacob Turner and Thomas Kopelman on The Long Game Podcast. Many turn to friends, family members, peers, etc for advice. The problem... it is not tailored to you. Listen to the show on Apple Podcasts (here ).? Watch for my podcast episode next year with a panel of financial preparedness advocates talking about the personal back into personal finance.
5) What’s the role of AI with financial planning?
AI vs. Human Touch: The Future of Financial Planning in the Age of Machine Learning with John Henry, PhD, MJur, MSIRE and Stoy Hall, CFP? on the NoBS Wealth podcast. John drops some serious knowledge about portfolio optimization, the pitfalls of outdated financial theories, and why your TikTok financial guru might be leading you astray. Check it out on Apple Podcasts (here ).
6) Should you buy life insurance for your parents?
In this article for MoneyGeek by Melissa Wylie, I share my insights on Life insurance for your parents. What factors should one consider when comparing rates and deciding on a life insurance policy for their parents? Check out the article (here ).
7) What are some surefire ways to make poor investment decisions?
15 Ways to Lose Money in the Markets by Ben Carlson, CFA for A Wealth of Common Sense. It’s easier to lose money, than make money in the market. Understanding what you shouldn’t do, will help you avoid mistakes. Check out the article (here ).
领英推荐
Why you shouldn’t invest like a billionaire by Felix Salmon for Axios . Investing like the ultra-rich is a terrible strategy for most people. Check out the article (here ).
8) What should you know about moving your 401(k) after leaving a job?
Moving Your 401k After Leaving Your Job with Dr. Philip Gibson Ph.D., CFP? and Dr. Preston D. Cherry, AFC?, CFT?, CFP? on the Life Money Balance Podcast. they explore both direct and indirect transfers of employer-sponsored plans, providing clarity on the 60-day rule and the potential 20% tax hit if funds are not moved accordingly. Check out the podcast on YouTube (here ).
9) Is maxing out your 401(k) when you are younger the right choice?
Nothing is Certain Except Debt and Taxes by Nick Maggiulli for Of Dollars and Data. Hot take: Maxing out your 401(k) when you are younger is almost always the wrong choice. The extra 0.5% per year isn’t worth locking up your wealth until old age. Read the article (here ).
10) Interested in becoming a more effective financial educator?
Five principles of effective financial education - Reflection guide from the Consumer Financial Protection Bureau . There is no single right way to provide financial education for all consumers under all circumstances. Knowing this, the CFPB gathered research and input from the field, and identified five evidence-based principles that can provide guidance for a wide variety of financial education programs and activities. Check out the reflection guide (here ).
The 2023 Financial Literacy Annual Report describes the CFPB’s financial literacy activities and strategy to improve the financial literacy of consumers. This year’s report includes information about the CFPB’s efforts to be a source of unbiased, objective information consumers can trust, as well as examples of effective financial education using the CFPB’s research-based approach. Check out the report (here ).
If you like these recommendations, please share them.
Which recommendation was your favorite?
Until next week, let’s change the way we think about money.
Tony
P.S. If you are a financial preparedness/financial literacy advocate, check out my LinkedIn Group - The Get Ready Network (here ): https://www.dhirubhai.net/groups/14238582/
Founder | CEO | Author | Speaker | Professor. Let your life lead your money. We help affluent GenX live life fully AND secure retirement confidently!
2 个月Tony Steuer, CLU, LA, CPFFE , you are consistently grabbing quality and insightful content that people can use from trusted professionals and platforms! Thanks for what you do??
I provide financial advice and custom plans for women and their families with a six-figure income, net worth, or both, and young adults interested in building wealth and achieving financial confidence.
2 个月Tony Steuer, CLU, LA, CPFFE, thank you for sharing Jordan Rosenfeld’s article with actionable wealth-building money moves I made. Your discussion with Tim Calise on your podcast regarding the importance of sticking to what you know is the perfect complement to Jordan’s article, as it is essential for people to make the moves that are best for them.