The Prosperity Podcast The Right Way to Save - Episode 061
Summary:
Tune in with Todd and Kim as they discuss one of the most common theories of saving: The Bucket Theory - and what’s wrong with it! Learn how to “pick a side of the fence” with your savings and investment for more control over your money. Find out which savings vehicle is best for you and how your government sponsored saving account might be hurting you - especially if you have college aged kids!
If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!
Show Notes:
0:00 Intro
0:43 The Bucket Theory: Setting aside buckets of money for specific purposes
1:11 The Big Idea: Why the Bucket Theory is wrong and you shouldn't split up your money
4:22 The Ability to Act Like Equity: What your savings dollars should be available for
5:11 The Other Side of the Fence: The difference between savings and investment
6:33What Type of Savings Vehicle Is Best For You?
7:36 What's wrong with government sponsored saving accounts: don't be penalized for saving
9:24 Resources for listeners:
10:18 Outro