The Grow Your Wealthy Mindset Podcast

Pension plans and defined benefits plans are becoming more scarce and 401(k) and 403(b) and other types of defined contribution plans have become the norm. In this episode, I start with a brief summary of the history behind funding retirement before I dive deeper into the most common type of retirement plans currently available to W-2 employees. There’s a good chance that you may have one, or multiple, of these accounts, so it’s a ...

Artificial Intelligence is getting better and better. What does that mean for robo-advisors, or using programing and technology instead of a human financial advisor? Wealthfront and Betterment were the first two large platforms to offer robo-advisors services. Now Vanguard, Fidelity, and Charles Schwab are offering robo-advisor services. This episode explores robo-advisors to help you decide if that’s something you would like to ex...

I-bonds purchased between Nov 1, 2023 and April 30, 2023 have a fixed interest rate of 1.3%, the highest fixed rate in 15 years. Combined with the inflation rate, they are paying 5.27%. If you've ever been interested in buying I-bonds, now is the time.

If you don't particually want more I-bonds in your portfolio but you have I-bonds previously purchased at a lower fixed interest rate, you may consider cashing th...

How did Mitt Romney amass $20-100 Million in his IRA? In this episode, I introduce self-directed retirement accounts, what they are and what they are used for. 

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 If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

You can lea...

This week’s episode is a really personal one where I share how recently, a lot of money scarcity has been coming up in my life and how I’ve been working through it. 

Its really a raw episode, me talking while I'm in the thick of it, with minimal editing. (mostly to take out long pauses)

 

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 If you want to start your path to financial free...

There are those who believe that investing in the United States stock market is all the diversification you need for your stock portfolio. Some even limit themselves to the S&P 500 Index fund while other go with the total US stock market. This week’s episode talks about adding international stock exposure to your portfolio. 

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 If you want to start...

In this episode, I review updates with filing taxes for 2023 as well as discussing different tools and help offered by the IRS to get your taxes done.

The standard deduction for 2023 is $13,850 for single or married filing separately and $27,700 for a married couple filing jointly.

To create an account to pay your taxes online or set up a payment plan, go to https://www.irs.gov/payments/your-online-account

To find out the status of...

This is a follow-up episode from last week, so if you haven't listened to Episode 91: Choosing Between Traditional or Roth Retirement Accounts, I would encourage you to do that first. Last week I centered the discussion around marginal tax rates. This week, I review factors like age and timelines as well as planning if you want to leave your retirement accounts to your heirs or charity.

If you want to start your path...

More employers are offering the choice between a Traditional 401K or 403B and a Roth 401K or 403B. How do you choose which one is best for you? Unlike with the choice for which IRA to use (the backdoor Roth IRA is the clear winner for physicians), deciding between for 401Ks or 403Bs involve more thought. The hardest part of making the decision is predicting your marginal tax rate when you are withdrawing from your retirement accoun...

Our society is increasingly become cashless and most of use rarely use actual money. We have money electronically transferred in and out of our bank accounts. So what does this mean for banking and how can you optimize your banking? Tune in to learn more. 

If you have ever thought of being an entrepreneur, then you definitely want to attend the Leverage and Growth Summit from February 26 to March 1, 2024. 

Registration is n...

If you invest in real estate syndications, you may have gotten notice about a capital call. Capital calls for real estate syndications have been on the rise in the last year. This week’s episode discusses possible causes for the increase in capital calls.  

Registration is now open for the Leverage and Growth Summit, which will be February 26 to March 1, 2024.  VIP All-Access pass is $97 thru February 25, 2024. it goes up ...

Dr. Liz Aguirre is a remarkable women. She grew up in poverty without reliable access to food or shelter and is now a mom, wife, and a physician with passion for person-centered health. We talk about how she grew her wealthy mindset and how coaching has assisted that journey. I am so lucky to have great clients like Dr. Liz. 

 You can find Liz Aguire at:
https://www.lizaguirremd.com/
https://www.facebook.com/DrLizAguirre

The Corporate Transparency Act, which was passed as part of the National Defense Authorization Act for Fiscal Year 2021, introduced new reporting requirements for businesses in the United States, specifically focusing on beneficial ownership. This episode details who needs to file a Beneficial Owner Information Report, what information is collected, as well as how to file. I go into detail who is considered a beneficial owner as de...

Many people set goals or New Year resolutions around this time for the year ahead, and then never look at those goals again. In this episode, I talk about my thoughts and approach to goal setting as well as some goals I set over a decade ago that I recently accomplished.   


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If you want to start your path to financial freedom, start with the Fin...

Treasuries are considered one of the safest investments out there as they are backed by the full faith and credit of the US government. They can be directly purchased at TreasuryDirect.gov as well as bought and sold on the secondary market. Yet Treasuries are often overlooked by the individual investor compared to CDs (certificate of deposits). This episode discusses the three main types of Treasuries, T-bonds, T-bills, and T-notes...

A lot of physicians, including Elisa, love to travel. Dr. Weili (pronunced "Way Lee") Gray, host of the Dare to Dream Physician Travel Podcast talks about her journey from burnout to life planning to traveling around the world while still enjoying working as a physician. A pivoting point in Weili’s life was when she  volunteered at a conference for financial advisors for a life planning session.

In this episode, ...

 Depending on background and circumstances, building a strong credit score may have come naturally or more be more difficult. It can certainly be more difficult to those who come to the United States, especially from countries that don’t use a lot of credit. In this episode, I discuss what goes into determining credit scores and how anyone can build up their credit score. 

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During this time of year, there are some people who do a lot of spending. While physicians tend to be considered good credit risks, there are some physicians who find themselves with credit card or consumer debt. While student loan debt doesn’t generally carry a feeling of shame, credit card debt can which means it may not be talked about. This episode is for anyone who has found themselves with credit card debt that they are unabl...

I tend to space out episodes with guests but this week, I’m breaking that trend. This episode was created spontaneously after Nathan and I started having a conversation that seemed like it would be relevant for the podcast. We’ve been married for 23 years, and together for 26 years so it’s a lot of time to reflect on. 

 I’m really curious to get your feedback on this episode. Did you enjoy it? Would you like more episodes like this ...