Money Guy Show 9 Things to Do Before 2024 Ends
13 snips
Nov 1, 2024 The discussion kicks off with nine essential actions to boost your financial health before year-end, emphasizing planning and mindset. Cash reserves are highlighted as crucial for personal finance security. The benefits of maximizing employer contributions and understanding retirement plans are discussed. Strategies for managing debt and enhancing net worth take center stage, while year-end planning focuses on tax-free savings and abundance goals. Finally, the importance of embracing generosity in financial practices is explored, encouraging selflessness over self-interest.
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Prioritize Cash Reserves
- Count your cash and ensure you've covered your highest deductibles.
- Fully fund your emergency fund with 3-6 months of living expenses in liquid cash.
Get Free Money
- Maximize employer 401k matching contributions; it's free money.
- If no match is offered, prioritize paying off high-interest debt.
Control Debt
- Review liabilities and create a net worth statement annually.
- Aggressively pay off high-interest debt, especially credit card debt.