The Personal Finance Podcast

Pre-Tax or Roth, How to Use Your Emergency Fund, & Building Business Credit - Money Q&A

8 snips
Dec 4, 2024
Discover strategies for maximizing retirement contributions and evaluating pre-tax versus Roth options for high earners. Learn how to effectively use your emergency fund and explore the nuances of building business credit. Gain insights into incorporating a business, monitoring credit reports, and the importance of responsible credit use. Plus, hear about balance protection insurance and ways to protect your financial interests. This discussion is a treasure trove for anyone looking to take their financial savvy to the next level!
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ADVICE

Retirement Contributions

  • Contribute to both pre-tax and Roth accounts for tax diversification.
  • This manages future tax risk and offers flexibility in retirement withdrawals.
ADVICE

Using Your Emergency Fund

  • Use your emergency fund for true emergencies, not frivolous purchases.
  • Replenish it using the 136 method after each use.
ADVICE

Building Business Credit

  • Incorporate your business and obtain an EIN to start building credit.
  • Open a business bank account and get a Dunn's number.
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