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Rich Habits Podcast

Q&A: Max My 401(k) or Roth IRA? Making $110K in the Military, & Should I Sell My Stocks?

Jul 25, 2024
In this podcast, the hosts answer listener questions on topics such as maxing out Roth IRAs or 401(k)s, helping a dad prepare for retirement, financial advice for a 39-year-old immigrant, buying vs renting for a military member making $110K, and whether to sell stocks after a 100% increase. They also highlight the importance of prioritizing Roth IRAs, providing financial advice for military personnel and stockholders, and discussing investment strategies and opportunities for personal growth.
27:42

Podcast summary created with Snipd AI

Quick takeaways

  • Consolidate individual stocks into ETFs for diversification and stability.
  • Consider real estate in North Carolina for military personnel like Michael to build equity and stability.

Deep dives

Consolidating Individual Stocks into ETFs

If you currently hold individual stocks such as Apple, Microsoft, Disney, and more, which have seen over 100% growth, it is recommended to consolidate them into the ETFs mentioned in the podcast. By transitioning to diversified ETFs, you can set a strong foundation for your portfolio before engaging in individual stock picking. This approach reduces the risk associated with single-stock investments and ensures a more stable and balanced investment strategy for the future.

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