91: How to Conduct a Portfolio Performance Review

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Nov 18, 2024

Unlocking the secrets to 401(k) mastery is a key focus, as the hosts emphasize knowing your investment choices and maximizing employer contributions. They also dive into the benefits of Roth IRAs, encouraging young adults to invest early. With revolutionary tools for personal and communal investing, listeners gain clarity on financial management. Plus, insights on entrepreneurship in the hospitality industry highlight the necessity of a stable financial foundation. Strategies for navigating increasing income and managing debt round out the discussion for aspiring wealth builders.

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INSIGHT

Lack of 401k Awareness

Many 401k investors are unaware of their investments, leaving their retirement savings to chance.
Understanding your investments and their performance is crucial for building wealth.

ADVICE

Decipher Your 401k Match

Understand your employer's 401k match details, including vesting schedules and match types (e.g., cash vs. company stock).
Don't assume a 6% match is truly 6%; examine the fine print to avoid surprises.

ANECDOTE

Austin's Vesting Story

Austin shares his experience with a 4-year vesting schedule and a 1-year cliff, highlighting how easily vesting details can be misunderstood.
He lost a significant portion of his expected 401k match due to the vesting schedule.

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