Ramsey Solutions financial expert George Kamel shares tips on how to save and plan for retirement.
," turning to these "shortcuts" is not a "good plan," and highlighted the retirement saving traps to avoid. "They're, comparing their life to others. They're trying to keep up with the Joneses. They're not budgeting. They're not investing, and they're trying to do it all by themselves, and that can lead to a lot of mistakes that can cost you big time," he said.
He also explained how contributing to a Roth IRA could be beneficial, but stressed the importance of working with a financial adviser to understand the different strategies. "This is after tax money that grows tax-free," he said. "And what I love about this is if you have $2 million sitting in a Roth account, that's $2 million that Uncle Sam can never touch again."
When it comes to facing financial hardships and inflation, Kamel warned over believing "lies from the pit of hell" and explained how he went from "broke to millionaire" in 10 years. Oh we believed all of these myths that I have to have a car payment. I'll always have my student loans. Hopefully the government will forgive them. I need my credit score because that's a financial indicator that I'm winning.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marshall Ramsey: Seeing The LightNonprofit Mississippi News
Read more »
Powering a Sustainable Future with BLUETTI Solar SolutionsPowering a Sustainable Future with BLUETTI Solar Solutions For home energy storage and battery backup systems.
Read more »
Opinion: Solutions to leaded aviation fuel are complicatedAn editorial earlier this summer (“Don’t let children near Colorado’s airports suffer the same fate as kids in Flint, Mich.” July 11, 2023) focused on an important issue, but grossly oversimplified…
Read more »
Look to Tokyo for solutions to housing crisisThere is nothing Californians lament more about paying the price to live in our magnificent state than the cost of housing.
Read more »
SF supervisors push for solutions to auto break-in epidemicWith over 15,000 car break-ins since January, it's not new for San Franciscans to be, or know, a victim of an auto burglary.
Read more »