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Mind of a Millionaire: Retirement Milestones: Where Should You be Financially?

| June 28, 2019
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Thank you for tuning into episode 46 of the Mind of a Millionaire podcast. Last Wednesday was Bike to Work Day here in Denver. In honor of the environmental awareness day, we hosted our own station on the back courtyard of our building, offering Santiago’s breakfast burritos and DWM sunglasses to participants. At a point during the morning, we got a visit and mention from an associate of the BJ & Jamie Morning Show, which had listeners sending in some questions.

If you have any questions of your own, please feel free to send them in. We would be happy to answer any of your financial questions. For daily personal finance tips, follow us on Twitter. For DWM news and events, follow us on Facebook. And for economic insights and DWM event invitations, be sure you’re signed up for our email club.

 

When does having investment properties make sense? [1:29]

Zak’s first investment property [3:37]

If you can’t max out your retirement investments? [5:21]

Saving for retirement vs. saving for your children’s college [7:12]

Retirement Milestones

  • What should you have done by 30/40/50 years old? [11:48]

 

Thank you again for listening. You can find all of our financial Standard of Care checklists here. If we don’t have one for your specific transition, let us know and we would be happy to get one over to you.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No strategy assures success or protects against loss.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

The Roth IRA offers tax deferral on any earnings in the accounts. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may results in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change. 

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Prior to investing in a 529 Plan, investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax of other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment may vary. Please consult your tax advisor before investing.

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