In this episode of That Financial Guy Show, I’m challenging some of the most popular financial "rules" you've probably heard—like the 4% rule for retirement withdrawals, saving 10 times your salary, the 100-minus-your-age rule for investing, or always maxing out your 401(k). The truth is, not all of these rules make sense for everyone. Some are outdated, some are just guidelines, and a few are downright silly. I break down where these rules came from, why they might not apply to you, and how to think beyond the one-size-fits-all advice. It’s okay to break the rules—sometimes it’s even the smarter move.

In this episode of That Financial Guy, I break down the various investment accounts available for kids and how they can set the foundation for a strong financial future. From saving for college to teaching them about investing early, I will explore the key differences between:

• 529 Plans – The go-to option for education savings with tax advantages, but with restrictions on how the funds can be used.
• UTMA Accounts – A flexible way to gift assets to minors, but control shifts to the child at a certain age.
• Custodial Roth IRAs – A powerful, tax-free growth opportunity for kids with earned income, setting them up for long-term wealth.
• Regular Brokerage Accounts – A simple and flexible way to invest, but with flexibility

I will discuss the benefits, limitations, and tax implications of each, helping you decide which account is the best fit for your child’s future goals. Whether you're saving for college, building generational wealth, or just looking for a smart way to introduce investing, this episode covers what you need to know.

In this episode, I take a straightforward look at managing your 401k after retirement. I will be discussing practical options, such as whether to transfer your 401k to an IRA or maintain it in your current plan, and explain the pros and cons of each choice. Our conversation covers:

• Conversion Options: Evaluating the benefits and drawbacks of different rollover strategies.
• Withdrawal Strategies: The Rule of 55!. Planning systematic withdrawals to optimize your retirement income.
• Tax Implications: Understanding the tax considerations that come with each decision.
• Risk Management: Balancing potential growth with the need for financial security.
• Expert Analysis: Insights from financial professionals to help inform your decisions.

This episode aims to provide clear, actionable information for anyone looking to make informed choices about their retirement savings.

Helping you to be wise with your money!
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