Fastest Way to $1 Million, Roth Rules, and If You Should Rent Forever (Money Q&A)

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May 12, 2025

Discover the secrets to building back your emergency fund and the effective 136 method. Explore whether it's wise to invest your HSA funds and how to handle an extra $500 monthly. Debate the merits of paying off high-interest debt versus saving, and discuss the nuances of rolling over your IRA. Dive into the age-old question of renting forever versus buying a home, especially in high-cost areas. Plus, get insights on navigating Roth contributions based on your income. Valuable financial strategies await!

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ADVICE

Rebuild Emergency Fund with 136 Method

Use the 136 method to rebuild your emergency fund after spending it.
First save one month of expenses, then pay high-interest debt, then save three months, and finally invest until six months are saved.

ADVICE

Invest Your HSA Funds

Invest your Health Savings Account (HSA) funds if you don't need them immediately for medical expenses.
Use your HSA as a retirement account to benefit from triple tax advantages and tax-free growth.

ADVICE

Prioritize High-Interest Debt

Use extra monthly funds to pay off credit card debt first, especially if interest rates exceed 6%.
Pay off debt before saving or investing because high-interest debt erodes your finances through compound interest working against you.

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In this episode of the Personal Finance Podcast Money Q&A, we are going to talk about the fastest Way to 1 million Roth Rules, and should you rent forever.

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Today we are going to answer these questions!

Question 1: How do I build back my emergency fund after using it, and where should I move money from to do this?
Question 2: Is it wise to invest my HSA funds?
Question 3: I’ve come across an extra $500/month. Should I put it toward credit card debt or savings?
Question 4: Should I roll my rollover IRA back into my new 401(k) plan now that I’ve started a new job?
Question 5: How do I become a millionaire in a rapid-fire way?
Question 6: As a 28-year-old in a high cost of living area, would I be better off renting forever and investing the difference instead of owning?
Question 7: If I make over $150K/year, should I stop investing in Roth accounts for my IRA and 401(k)?
Question 8: Should I still move my money from my Roth 401(k) to a Roth IRA, or are they essentially the same thing?
Question 9: My mortgage rate is 6.625%. You always say over 6% is high-interest debt—should I pay it off early?
Question 10: Have you heard of the AIQ ETF? What are your thoughts on it?

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The Ultimate Guide to the HSA (The Super Retirement Account!)

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