I never ran a 401k

Good morning!
I have an announcement… We’re changing the name of this newsletter soon. AND, I’m starting a new YouTube channel 👀

Hint: the new channel is going to be the same name of this newsletter

DEFINITION
What’s a 401(k)?

• Let’s get real basic with it: A 401(k) is an employer-sponsored plan for retirement savings. It gives employees the benefit of having retirement savings taken out of their paychecks before taxes. If your workplace offers a 401(k), you’ll fill out an enrollment packet that includes information about your company’s match (if they offer one), beneficiaries, and investing options.

PRACTICAL ADVICE
Should you invest into a 401(k)?

• Heck yeah! If it’s offered, go for it. But here’s the thing, you need to make sure you’re first out of high-interest debt and have a butt load of savings.

• So make sure you’re not in any credit card debt or a fat car loan! I know the finance bros might disagree with that, but we’re talking about human behavior here. If you’re trying to pay off your debt quickly, and start investing a lot. You’re going to end up not seeing much progress in both! Just stick to one goal (getting out of debt), so you can go all in on the next goal (investing like crazy).

HELPFUL RESOURCES
Where I bought my wife’s engagement ring…

Hey guys, we’ve never had a sponsor on this newsletter because most of them are whack.

BUT THIS COMPANY, I actually used and can vouch for them. I got a sweet deal when buying my wife’s engagement ring (you know…before she was my wife). And I would definitely recommend them if you want to find a ring that’s affordable, but will still make all her girlfriends go “SHEEEEEEEEESH 😍”

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OUR COMMUNITY
What are your questions? Or share a win!

• Reply to this email with any personal finance question you have, or share with me any wins in your life! (I’ll respond to your questions anonymously in future emails)