Today we talk with Andrew Wang from the Inspired Money podcast about all things investing! Andrew works as a financial planner and managing partner at his families firm, and he gives us all the details on making wise financial investment decisions, and how to make the most of your money even as a frugal investor. Whether you are knee deep in debt pay-off and have little clue about investment, or you have a fully functional understanding of your investment options, this episode is for you!
Sponsors:
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Water: It’s necessary to sustain life, not just your life but also your non-plastic plant's life. It helps you clean stuff so it doesn’t smell and your stuff looks newer longer. It’s alway the cheapest thing on the menu and the thing your fitness app reminds you you’re never getting enough of. Water, drink it, use it, remember to water your plants.
Notable Notes:
We ask Andrew all the important questions including:
Questions from community:
Katherine: "After you recognized the importance of investing and want to start investing well, Where can I go to learn? How can I
start integrating this into my busy life?"
Heidi: "What is a “backdoor Roth”? A lot of people recommend a Roth IRA over a Traditional IRA but I've heard there are limitations
on the Roth so I don’t have one, I have a traditional"
Abbey: "I have no clue about investing, what's the the best way to start on a suuuper tight budget? And soon I’ll be quitting my job
to work for myself so I wants to know the best option for that too"
Lauren: "I hear financial bloggers and podcasters talk about saving $18k into retirement accounts, but that’s half my annual take
home pay! I put in 4% for the company match. Other than the obvious
of finding a better paying job what can I do and how much should I
put in, so I can sleep at night knowing I'll be able to retire?"
It’s November! And we’re reading The More of Less by Joshua Becker. I’m so excited. Our next book is The Millionaire Next Door by Thomas J Stanley. The book is a compilation of research done on millionaires that found that they don’t necessarily show up where we think they will or buy the things we assume they do. It’s a must read in a frugal book club.
If you want a free copy of The Millionaire Next Door we are giving away one for every 5 reviews we get this month, no limit!
To enter, leave us a review on your podcast listening device, not just itunes, screenshot the review and send it to frugalfriendspodcast@gmail.com
We’ll select the winners for this book at the end of the month!