Building Your Money Machine

Major Money Milestones To Achieve in Your 40s

Apr 17, 2025
Discover the essential financial milestones to hit in your 40s, from automating investments to maximizing retirement account contributions. Learn the importance of balancing assets and liabilities while developing diverse income streams. Emphasizing the need for strategic debt management, the discussion also touches on crafting a simple investment strategy. The connection between health and wealth is explored, along with the value of mentorship in achieving financial goals. Get ready to prioritize long-term security and sustainable joy in your financial journey!
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
ADVICE

Automate Wealth-Building Actions

  • Automate your wealth-building actions to reduce reliance on willpower and avoid friction in investing decisions.
  • Set up automatic contributions to 401(k)s, IRAs, or brokerage accounts for consistent investing without manual effort.
ADVICE

Maximize Tax-Advantaged Accounts

  • Max out employer 401(k) matches and contribute to tax-advantaged accounts like Roth IRAs and HSAs if eligible.
  • These accounts offer free money and tax benefits that accelerate wealth-building in your 40s.
INSIGHT

Wealth Is Cash-Flow Assets

  • Wealth comes from investable assets generating cash flow, not just income or savings.
  • Reducing destructive debt and focusing on assets that appreciate and produce cash flow drives true financial freedom.
Get the Snipd Podcast app to discover more snips from this episode
Get the app