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Here’s the Latest 401k, IRA and Other Contribution Limits for 2023
One of the best ways to become an automatic millionaire in your lifetime. Don't skip on the contributions.
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Parents Retiring with no money? Read This Now!
CNBC penned an Op-Ed, "What millennials, Gen Z need to succeed against the economic odds?" Well the answer is simple; parents who are financially prepared for retirement. It's estimated that each underfunded retirement plan will cost kids and caregiver upward to $3,000 per month for each aging adult. By 2050, it will get very expensive. As such, the financial griot invested special guest Ecclessiate Guerrier and brings back guest host for the day, Michael Theodore to have an honest discussion on having the financial discussion with our aging parents. We share what we've experience and learned a few things along the way. Hope you enjoy. Be warned that our guess…
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How to Deal with Challenges. Sharing our Mid-Year Review
"A mid-year review is a great way to energize your annual goals and performance, in a little-to-low pressure way." In this episode of the Financial Griot podcast, the crew is finally back together. On the table, our mid year recaps from major medical expenses, new pets, inflation and looming recession; it's been a rough six months. Lovely also shares the lessons she is learning along the way. This is going to be heavy. To make this actionable, we highly recommend that you do your own midyear recap. Even invite some friends or family members. This is your opportunity to recalibrate.
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Black Wealth – We Reached +$750,000 in less than Five Years
Investment thunderstorms and costly repairs. Building wealth has never been harder but we can make it through.
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How to Rollover an Old 401k and Our Investment Strategy
Most people jump ship from their job and forget about their 401k, 403b or 457 rollover options. The majority (56%) of those ages 18-34 still have an old retirement account at a previous employer. If you’re 35-44, you are part of the 40% that have also not rolled over previous retirement accounts. How much is that worth? Well Americans lost more than $1 Trillion dollars to old forgotten 401ks. Even more if we consider the compounding interest opportunity. So let’s break down what rollovers are, tips on what to look out for and what to do next once your have access to your hard earned money. And just for the…
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How to Prepare and Recover from Financial Setbacks
Learning from past financial setbacks is a tried and proven method to build a Better Future. An Ameriprise Financial study found that 75% of American experience at least one major financial setback in their lifetime. This often come at a cost of more than $50,000. For 42% of Americans, the first financial mistake starts at college with unnecessary expenditures, credit card debt and student loans. We sign up early and get roped into a lifestyle of debt. Prior to the pandemic, many were on track to default on their student loans. So much so that one out of every ten Americans has defaulted on a student loan. An average of…
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Trauma Bonding and the Importance of Therapy
In the wake of a myriad of shootings in the US, it's ok to allow people to grieve in their own way. Sometimes that grieving is messy. Unfortunately, there are times that the grieving leads to trauma stacking. In this episode of the Financial Griot podcast, we discuss the need for real therapy with the goal that you end up doing the necessary shadow work. Your psyche can definitely keep you away from building wealth. Tackle it.
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How We Made $20k in Passive Income for Q2 2022
The second quarter of 2022 was hopeful. High prices raged on and it's likely that the passive income economy dragged down. With price inflation up, some goals might not materialize this year but we will likely still land in the positive. My internal compass still leans toward overall gratitude. I work from home. Additionally, I have a beautiful wife who loves to travel like I do. Our growth is proving to us that the solutions to a challenging word are merely tougher and more resourceful people.
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Crafting a Better Resume and Rebranding Your Purpose
Crafting a solid resume and brand on social media is incredibly important as the economy heads toward a recession. In this episode of the Financial Griot, we are joined by special guest Michael Theodore, a Higher Education Advisor and Mentor. As the world changes toward reopening, we tackle issues on branding and designing a path that works for you in the short and long run.
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New July Milestone – $1 Million in Assets in less than 10 years
A massive TNFG July celebration is in order. We reached 1 Million dollars worth of Assets. What's crazy is we started off with $0 in 2012. Well here's hoping this is a start to a solid year end close out.
