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Money Guy Show
"I'm 21 and Make $100K - What Should I Do?"
Nov 13, 2023
This podcast covers topics such as selecting a 401K provider, the importance of well-designed 401k plans, maximizing Roth IRA contributions, personal finance advice, and the impact of financial decisions on different areas of life.
28:17
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Quick takeaways
- When selecting a new 401K provider, prioritize investment options that offer a diverse selection of low-cost investments, including index funds across different asset classes.
- Living in a higher cost of living area may require adapting financial rules to your unique situation, such as allocating more margin to housing expenses while staying within recommended guidelines.
Deep dives
Choosing a Good 401K Provider
When selecting a new 401K provider, it is important to prioritize investment options. Look for a provider that offers a diverse selection of low-cost investments, including index funds across different asset classes. Consider including target date retirement funds for employees who may not be familiar with investing. Strive for a balance between enough investment options for a solid portfolio and too many options causing decision paralysis.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode