Modern Money

Overall, wealthy people approach their money different than most. They understand the role that it plays and the smart ones tend to view it as a tool, not the end goal.

Depending on who you ask, we're either approaching a recession or we may already be in one. Either way, it's a good time to revisit some financial foundations and talk about how to weather an economic storm. We haven't seen a real recession since the creator economy took off, minus the minor blip in March 2020, so it's going to be interesting to see how a tighter economy effects us as a whole.

Health Savings Accounts are like an investment account that lets you spend profits on medical expenses, completely tax-free. It sounds odd, and it kind of is. What makes it really unique though is that it offers a triple tax advantage and no other financial accounts offer the same benefits.

Working with a financial advisor is a big personal decision and it's important to have all of the information available so you can make the best decision for yourself.

Contrary to popular belief, retirement is more of a dollar amount than it is an age-based milestone. I believe that retirement can be viewed as a period of time in your life where your use of capital - time, money, and energy - is best aligned with your desires.

​When you take a long-term approach to the stock market, the odds of making money evolve a little bit. If you only had money invested in the market for 1 month, you would have a 38% chance of losing money. If you keep money in the market for 15 years (based on historical returns), your odds of losing money drop to 0.2% and your chances of making money increase to 99.8%. I don't know about you, but I'm comfortable with those odds.

Financial IQ #42

You’ll probably see many headlines throughout the year about a market crash and the media’s job is to drive clicks, which is usually driven by triggering emotions, like fear. So instead of creating fear, today’s newsletter is walking through 4 simple things to do when the stock market is losing value:

One of the easiest ways to determine if you should be investing in cryptocurrency is knowing whether or not the money you contribute would have an impact on your financial situation if it went to $0. Meaning if you only have a little bit of money saved for retirement and don't have an emergency fund, you probably shouldn't be investing in crypto because there are more impactful things to be doing with your money.

General advice recommends that you have 3-6 months of living expenses saved. However after what we've experienced in the past year, I'm starting to lean more towards 6-12 months.

If you only have a little bit of low-interest debt, prioritizing investing generally makes sense because you may be able to earn higher returns in the stock market than the low interest rates on the debt.

A different way of thinking

Mitochondria is the powerhouse of the cell

While we can’t control what the stock market does, we can control a large portion of our financial life by building a solid foundation and being as efficient as possible in these areas.

Financial IQ #36

Financial IQ #38

Financial IQ #41

He'd become used to spending money without thinking twice about the impact so when he started losing income from not posting on YouTube, his personal finances took a major hit. Since this could happen to anyone, these are a few strategies you can use to remove the stress around money and avoid getting in a tough spot financially.

Graduating college is a big life milestone that deserves a celebration. But the next phase of life comes quick and it's important to build good financial habits early to set yourself up for a successful future. By keeping these lessons in mind and applying them when possible, you'll be ahead of the game and well on your way to living a happy, fulfilling life.

There’s a fine line between irresponsible spending and consciously improving your quality of life. Lifestyle creep becomes a problem when you find yourself living paycheck to paycheck, even after receiving multiple increases in income. If you’re hitting your savings goals and find yourself saving consistently, it’s okay to spend money on yourself. This is why it’s important to have an overall understanding of your financial situation so you can make the best decisions for yourself today, as well as tomorrow.