Marriage Kids and Money: Personal Finance for Families

Investing Hacks That Save Thousands on Taxes

Oct 21, 2024

Marko Zlatic is a financial educator and creator of Whiteboard Finance, known for achieving Coast FIRE in his 30s. He shares remarkable tax-saving strategies for investments, including the benefits of 401ks, Roth IRAs, and Health Savings Accounts. Marko also discusses how his family journey has evolved after reaching financial independence. Additionally, Calvin Hill joins to explore modern fatherhood, highlighting how millennial dads are more engaged in parenting than ever before and the shift in family dynamics across generations.

45:42

Episode guests

Marko Zlatic

Calvin Hill

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Implementing tax-efficient investment strategies like 401ks and HSAs can significantly reduce taxable income and healthcare costs for families.

Achieving Coast FIRE demonstrates that disciplined investing in one's 30s can create sustainable retirement savings without additional contributions later.

Deep dives

Tax Efficiency in Family Investing

Families can implement various strategies to invest with tax efficiency in mind. One effective method is contributing to a traditional 401k, allowing for tax deferral on income, which reduces taxable income for the family. For example, maximizing contributions can yield significant tax savings, as seen in the case of an employer match that provides additional funds for retirement. Another strategy involves using a Roth IRA, which, despite being funded with after-tax dollars, offers the benefit of tax-free growth, ensuring diversification of tax liabilities in the long run.

Intro

2min

Maximizing Tax Efficiency in Investments

5min

Maximizing Tax Efficiency in Family Investments

4min

Navigating Retirement and Investment Strategies

18min

Connecting with Financial Education and Family Engagement

4min

The Evolution of Fatherhood

7min

Community Engagement and Financial Freedom Highlights

2min

Paying taxes is a reality of life. Let's just not overpay them! In this episode, I share how we're investing with tax efficiency in mind.

Second, we’re back with our Coast FIRE Family segment. This month, we're featuring Marko Zlatic from The Whiteboard Finance YouTube Channel. Marko and his wife recently achieved Coast FIRE in their 30s! He's going to share how they did it and how this impacts their family journey going forward.

Last, we're sharing the Good Word once again. My son Calvin and I are having a conversation about ... Millennial Dads and how parenting has changed over the past few generations.

EPISODE RESOURCES:

Sponsors + Partners + Deals
Whiteboard Finance: https://www.youtube.com/@WhiteBoardFinance/
Good Word Story (Motherly): https://www.mother.ly/parenting/millennial-dads-spend-more-time-with-their-kids/

MKM RESOURCES:

MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
YouTube: Subscribe for free to watch videos of these episodes and interviews.
Instagram: Follow our IG channel.

SHOW INFORMATION:

Marriage Kids and Money is dedicated to helping young families build wealth and happiness. This award-winning platform helps couples and parents achieve financial independence and discover the true meaning of wealth.

To achieve these big goals, we answer questions and interview experts who uncover smart net worth building habits and tools that can help everyone find their own version of financial independence.

Learn more at https://www.marriagekidsandmoney.com

HOST BIO:

Andy Hill, AFC® is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.

Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of downloads and views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.

When he's not "talking money", Andy enjoys being a soccer Dad, singing karaoke with his wife and relaxing in his hammock.

HOW WE MAKE MONEY + DISCLAIMER:

This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

CREDITS:

Podcast Artwork: Liz Theresa
Editor: Podcast Doctors
Podcast Support: Nev Maraj

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