Episode #26: Andrew Leonard, Financial Whiz
In this episode, we talk to Andrew Leonard, founder of Geometric Wealth Advisors (and friend!), about what to do with our money! While a critical skill for adulting, we have a lot to learn about how to manage our money. We think all strong women should know how to manage their Benjamins, and this episode offers easy to understand and helpful tips for how to get your finances in shape. Remember: its not a spring; its a marathon. wink, wink
Items mentioned on the show:
Lenny’s Hierarchy of Savings, i.e., where to put your money first, second, third, etc.
Bucket 1. Checking account just for livin’
Bucket 2. High interest debt like credit cards
Bucket 3. Emergency reserve in a savings account (for when your roof blows off your house, or your car stops rolling) – should be roughly 6 months of your regular living expenses
Bucket 4. Company match on 401(k) retirement plan, if you have that option
Bucket 5. Roth IRA
Bucket 6. Max out rest of 401(k)
Bucket 7. Other non-mortgage debt at 4-6% (like student debt)
Bucket 8. Normal, taxable brokerage account (i.e., Vanguard)
What is a fund, low cost fund, and index fund
Vanguard
What about saving for kids’ education with 529 accounts?
Savingforcollege.com
Run Less, Run Faster, Runner’s World’s book and training plan
Suze Orman, financial guru to Oprah and lots of ordinary people, has written lots of easy-to-understand books on these topics.
Tweet Lenny at @GeometricAdvsr
Lenny’s company: Geometric Wealth Advisors
photo via Facebook