7 Rules For Creating Wealth - Part 2 | Andrew Giancola (MU Classic)
Millionaire University
Why Roth IRAs matter and the backdoor Roth
Andrew explains Roth IRA tax-free growth, contribution limits, projected outcomes, and the backdoor Roth workaround for high earners.
#606 We're back with Part 2 of our three-part series on the seven rules of creating wealth! In this episode, Justin Williams and Andrew Giancola of The Personal Finance Podcast dive deeper into investing — where to start, how to maximize your employer’s 401(k) match, the power of HSAs, Roth IRAs, and why keeping fees low is critical to long-term wealth building. Andrew also breaks down the step-by-step process of investing in index funds and ETFs, plus tips for setting up investment accounts for your kids. If you haven’t listened to Part 1 yet, be sure to go back and check it out. And stay tuned for Part 3 tomorrow, where we’ll wrap up the series!
(Original Air Date - 3/5/25)
What we discuss with Andrew:
+ Maximize 401(k) match – Best guaranteed return
+ HSA benefits – Triple tax advantages
+ Roth IRA strategy – Tax-free growth & backdoor option
+ Minimize fees – Avoid costly advisor & fund fees
+ How to invest – Open accounts & automate contributions
+ Lump sum vs. monthly – Best way to invest large amounts
+ Time in market – Long-term growth power
+ Investing for kids – Roth IRAs & brokerage accounts
+ Stocks vs. real estate – Passive vs. active wealth building
+ S&P 500 advantage – Outperforms most funds
Thank you, Andrew!
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