7 Tips to Spending Money Wisely | Phil Town

For many people, financial struggles are due to not bringing in enough money. For many others, though, the problem comes from not wisely spending the money that they do make.

In this video, we’ll take a look at seven ways that you can start to better spend the money you earn in order to help you reach your financial goals.

To go along with this video, I’m including my FREE PDF resource for common financial terms, click the link above!

Looking to master investing? Attend one of my 3-Day Transformational Investing Workshops, virtually! Reserve your seat here: https://bit.ly/r1-virtual-workshop

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The Difference Between a 401k and 401a

Trying to figure out all of the differences in retirement plans is a complicated task. It is not enough to go to a financial adviser and sign your name wherever you are instructed to do so. Educating yourself on the inner workings of retirement plans will insure that you will be able to live the quality of life you are accustomed to later on down the road.

401k Withdrawal Rules

The financial world has so many rules and fees when it comes to withdrawing money from your individual retirement account (IRA), that it is any wonder that people are able to retire at all. Rolling over the money from one account to another is no problem. Actually getting your hands on the money is a whole other matter. Unless of course you are 59 1/2. Most people stop counting half birthdays after about age eight, but rules are rules and 59 1/2 is the magic number.

How to Save For Retirement If Your Employer’s 401(K) Is Weak

Recently, I developed several financial plans for clients who work for employers with weak 401(k) plans. These plans have few investment options, don’t offer proper diversification tools, and utilize mutual funds with poor track records. What did I advise these clients to do? It depends on the individual’s personality.

401K is the Best Choice For Self-Employed

Self-employed individuals often commit themselves to 401K. For them, it is a good medium for adding to their retirement records.

What Really is IRA?

People always prepare ahead about their retirement plans and IRAs or individual Retirement Accounts are a great ways for one’s retirement. Studying which is the appropriate IRA, from Traditional IRA and Roth IRA, for you could greatly help and you and you can now relax until your retirement comes.