Why is personal finance so complicated? Even worse, the Internet is full of personal finance “experts” providing short-sighted, error-prone, and outright bad financial advice. Jesse Cramer has a knack for using everyday experiences to make personal finance accessible for the average investor. His extensive research coupled with skilled narrative makes personal finance actually enjoyable. By day, Jesse works for a fiduciary wealth management firm in Rochester, NY. By night, he runs The Best Interest - nominated in 2022 for "Personal Finance Blog of the Year.” The Best Interest simplifies personal finance and investing to make your life easier, smarter…and a little richer, too. Come invest in knowledge with The Best Interest.
https://bestinterest.blog
A Guide for the DIY Investor | Measure Twice Money - E64
Nonillion… That’s a number so big, I hadn’t heard it before recording this episode. Should you budget and track every single dollar you spend? Should you put 10 percent of your income into your 401k? These are just two of the typical questions I get asked when it comes to money management. In fact, when you think about the hundreds of decisions the average person is faced with in their financial journey, you end up with a nonillion different possible outcomes.
This week I brought on Cody Garrett to make these decisions a little clearer. With dual degrees in music theory and contemporary piano performance, Cody shifted gears in 2018 to focus on his growing interest in finances. Having served as a music director for renowned Broadway shows to now, sharing actionable personal finance advice, Cody's journey is a testament to his drive and adaptability. Cody runs his firm that caters to DIY investors on the path of early retirement, and also educates over 1000 financial advisors, impacting the future of financial planning in a meaningful way.
Just because you’re a do-it-yourself investor doesn’t mean you have to do it alone.
-Cody Garrett
Key Takeaways:
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Teaching is the best way to learn
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Understanding advice only financial planning
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The Transition Zone of financial planning: tax planning
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Traditional vs. Roth Contributions
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Marginal vs Effective Tax Rates
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The “Kiddie Tax” and 529 plans
Mentions:
https://bestinterest.blog/financial-advisor-questions/
More of Cody:
???? Website: https://measuretwicefinancial.com/
???????? LinkedIn: https://www.linkedin.com/in/codylgarrett/
????️ Podcast: https://podcasts.apple.com/us/podcast/measure-twice-money/id1608034167
More of The Best Interest:
Check out the Best Interest Blog at bestinterest.blog
Contact me at jesse@bestinterest.blog
The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.