>>>
>>> WELCOME BACK BACK. IF YOU ARE IN USE RESOLUTION
SKEPTIC UNTIL JUST.
THERE ARE SOME CHANGES WE CAN
MAKE WITH BENEFITS.>> WE ARE
READY FOR 2019.
I'M NOT GOING TO LIE IT IS NOT
EVEN A PRIORITY OF MINE.
>> SAVING?
>> SAVING? >> NO, SAVING IS A PRIORITY.
LET ME CLEAR THAT UP.
WHAT ARE SOME GOOD IDEAS THAT
MAY BE WORRYING ABOUT IT?
>> WE ARE COMING OUT OF THE
HOLIDAYS, OFTEN THE TIME OF THE
YEAR WHERE WE SPEND THE MOST
MONEY.
MONEY.
MONEY. WE
MONEY. WE HAVE THE BEST OF INTENTIONS
OF KEEPING OUR FINANCES IN
ORDER AND NOT BUILDING UP DEBT.
WE END UP A LOT OF TIMES GOING
OVER THE BUDGET AND ON TOP OF
THAT MANY OF US ARE FEELING
GUILTY BECAUSE WE ATE TOO MUCH,
WE SPENT TOO MUCH.
EXCEPT FOR YOU JORDAN.
>> MY MONEY PHILOSOPHY IS DO
NOT SPEND MORE THAN HALF.>>
THERE YOU GO.
RIGHT NOW, ONE OF THE THINGS I
WOULD LOOK AT IS START OFF WITH
A PLAN.
A PLAN.
A PLAN. IT IS THAT SIMPLE.
MOST OF US ARE NOT DOING MUCH
OVER THE NEXT COUPLE OF DAYS.
>> WHAT IS A GOOD BASIC PLAN?>>
I WOULD START OFF BY LISTING
OUT ALL OF MY BILLS.
WHAT AM I SPENDING EVERY MONTH
AND WHAT DEBTS DO I HAVE.
HOW MUCH MONEY AM I SAVING
EVERY MONTH AND WHAT IS MY
RETIREMENT PICTURE LOOK LIKE.
PUT ALL OF THAT ON PAPER SO YOU
ACTUALLY BUILD A PICTURE AND
CREATE REALITY AND SEE WHERE
YOU ARE .>> THERE ARE TEMPLATES
YOU CAN FIND ONLINE.
THAT IS HELPFUL TO HAVE IT LAID
OUT.
OUT.
OUT. >>
OUT. >> WOULD YOU RECOMMEND DOING
THAT LIKE SHE SAID?
>> I WOULD.
THERE ARE CERTAINLY APPS THAT
TRACK YOUR SPENDING.
SOME OF THE LARGER BANKS OUT
THERE WILL ACTUALLY TRACK YOUR
SPENDING ALSO.
SPENDING ALSO. YOU CAN ALSO GOOGLE IT AND SAY
OKAY, PRINT OF A TEMPLATE SO
YOU CAN FILL THINGS IN . TAKE
AN HOUR OR TWO OVER THE NEXT
FEW DAYS.
FEW DAYS.
FEW DAYS. >> LET'S TALK RETIREMENT.
THERE MAY BE PEOPLE OUT THERE
WHO ARE NOT PUTTING MONEY AWAY
FOR THAT.
FOR THAT.
FOR THAT. HOW MUCH MONEY SHOULD YOU BE
PUTTING FOR RETIREMENT?>> I
WOULD LOOK AT THE IDEAL
SITUATION IS 10%-15% OF YOUR
PAYCHECK.
PAYCHECK.
PAYCHECK. THAT IS REALLY WHERE YOU NEED
TO BE.
TO BE.
TO BE. I
TO BE. I WOULD NOT START OFF WITH THAT
IF YOU HAVE NOT BEEN DOING
THAT.
THAT.
THAT. SAVING MONEY IS A HABIT.
YOU HAVE EITHER DEVELOPED A
HABIT OF NOT SAVING OR YOU HAVE
A HABIT OF SAVING.
IT IS LIKE WE ALL HAVE THE
FRIENDS THAT HAVE TO GO TO THE
GYM EVERY DAY OR GO FOR A RUN
EVERY DAY AND THEY HAVE
DEVELOPED A HABIT.
IF THEY DO NOT, IT THROWS OFF
THEIR DAY.
THEIR DAY. THE SAME THING WITH SAVING
MONEY . IT IS A HABIT YOU HAVE
TO DEVELOP AND BUILD INTO.
THE CLIENTS I WORK WITH THAT
ARE HEADING INTO RETIREMENT AND
WILL BE IN A GREAT SITUATION,
THOSE ARE THE ONES THAT SAVED
10%-15% OF THEIR INCOME FOR A
10 OR 25 YEAR PERIOD . WITHOUT
THINKING, THE EASIEST PLACE TO
SAVE IS IN YOUR 401(K).
THAT MONEY COMES OFF THE TOP.
>> A POPULAR NEW YEAR'S
RESOLUTION IS TRY TO GET RID OF
THAT.
THAT.
THAT. SPEAKING OF THE 401(K), WHAT IS
YOUR SUGGESTION?
YOUR SUGGESTION? IF YOU HAVE A LOT OF DEBT DO
YOU PRIORITIZE NOT WORRYING
ABOUT THE 401(K) UNTIL THE DEBT
IS GONE OR DO YOU STILL PUT
MONEY INTO THE 401(K)?
>> I WOULD WORK TO DO BOTH
ESPECIALLY IF MY PROVIDER
EMPLOYER PROVIDES A MATCH.
I WOULD ALWAYS TAKE ADVANTAGE
OF THAT.
OF THAT.
OF THAT. AFTER THAT, TAKE SOME OF THE
EXTRA MONEY AND PAY OFF THE
DEBT ESPECIALLY IF I HAVE HIGH
INTEREST CREDIT CARD DEBT.
IF YOU HAVE A CREDIT CARD
CHARGING YOU 20% AND YOU JUST
PURCHASED GIFTS YOU MAY END UP
PAYING FOR THEM TWICE BECAUSE
OF THE INTEREST.
I WOULD CERTAINLY LOOK AT
KNOCKING OUT THE DEBT.
THAT IS A BIG PIECE.
ALWAYS BUILD UP SOME CASH EVEN
IF MAYBE YOU'RE NOT SAVING IN A
401(K) BUILD UP AN EMERGENCY
FUND THAT WAY IF SOMETHING POPS
UP YOU HAVE A COMFORT LEVEL.>>
HOW MUCH SHOULD BE IN THE
EMERGENCY FUND ?>> EVERYONE IS
DIFFERENT.
DIFFERENT. I USE THE RULE OF THUMB, WHAT
HELPS YOU SLEEP BETTER AT
NIGHT.
NIGHT.
NIGHT. HAVING A COUPLE OF MONTHS OF
INCOME IN THERE, 3-06 MONTHS IS
WHAT YOU WANT.
THAT WAY IF SOMETHING HAPPENS,
YOU HAVE SOME MONEY .
>> LIFESAVER AND MONEY SAVER.
HOPEFULLY IT WILL HELP YOU
START OFF THE NEW YEAR IN THE
RIGHT WAY.>>