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Money Guy Show
"We Lost Over HALF Our Income! What Should We Do Now?"
Apr 10, 2024
This podcast explores navigating a significant loss of income and making tough decisions, managing a decrease in income, insuring a child, and appreciating employer benefits. It emphasizes the importance of strategic planning, asset allocation strategies, and maximizing retirement plan benefits.
30:00
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Quick takeaways
- Focus on reaching $100,000 in savings quickly for financial growth.
- Strive for critical mass when portfolio growth exceeds savings.
Deep dives
Understanding Critical Mass for Wealth Building
Focus on reaching $100,000 in savings as quickly as possible to set a foundation for financial growth. Saving $10,000 annually can lead to $100,000 in approximately seven years. Additionally, the journey to your first million dollars can see significant growth within the same period, showcasing accelerated wealth accumulation.
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AI-powered
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Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode