Welcome to a new week here on the Retirement Quick Tips podcast. I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor, and I started this podcast because I love helping people just like you gain clarity and make a plan for the retirement you envision.
The theme this week on the podcast is: Best Retirement Savings Accounts in 2022...And How To Fund Each One
A common question I get from clients is how to prioritize saving for retirement. They might have a 401k, a Roth IRA, a taxable brokerage account, and a HSA. So this week on the podcast, I’ll talk about which accounts to prioritize with your long term savings and how and why you should fund each one in a particular order.
One important point about this week’s tips is that I’m assuming you’ve already established an emergency fund and you have a healthy amount of savings in the bank. I’m also assuming that you don’t carry any high interest rate debt and your debt level overall is low.
If you don’t have emergency savings or you’re paying 22% on your credit card debt, those areas need to be addressed before you should be adding more to your long-term retirement savings accounts, so please keep that in mind when you’re listening to the podcast this week.
I hope what I have to share with you this week will help you make smart and thoughtful decisions with your retirement, and help provide more clarity on which accounts you should fund first and which accounts you should fund last.
And while I am careful to not lead you astray, personal finance is not an exact science. There is no one-size-fits-all solution for everyone, so I encourage you to disregard anything I say that may not be helpful for you, and to consult your own financial, tax, and legal advisors regarding your own individual situation.
That’s it for today. Thanks for listening! My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.
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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance