This blog is the seventh of a 10-part series which covers everything you need to know to get started on your path to financial freedom: 1. The First Step in Any Financial Plan is NOT What You Think. We Start by Knowing What is Worth Seeking. 2. Developing Your Vision of a Perfect Life 3. Adopt a Savings … read more
You're ready to Pay Down Low-Interest Debt or Build Taxable Savings!
At this stage, your main goal should be building your net worth. There are two ways to accomplish this: paying down low-interest debt or saving in a taxable investment account.
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Rather listen? Check out our podcast!
In episode 130 of the Mindful Money podcast, we explore the choice between paying off low-interest debt and building taxable savings. While paying down high-interest debt is crucial, once that’s done, the focus can and probably should shift toward maximizing retirement savings and investing in taxable accounts.
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Fine-tune your life vision
A clear and intentional vision of your ideal life is the guiding force behind your financial plan. Your vision is dynamic, just like life. It's never a bad idea to set some time aside to check in with yourself and refine the values that will direct your journey.
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Jonathan K. DeYoe is the founder of Mindful Money. The opinions voiced and all accompanying materials are for general information only and are not intended to provide specific advice to any individual. Past performance is no guarantee of future results. All indices are unmanaged and cannot be invested in directly. Investing involves risks including possible loss of principal. There can be no assurance that any technique or strategy discussed on Mindful Money will be suitable for any particular investor and there is no guarantee of any specific outcome. Mindful Money renders no individual advice. Personal Financial Planning and Investment Advice are offered only to clients who have signed an advisory agreement with EP Wealth, a registered investment advisor. If you have the minimum investment of $500,000 and are seeking individual advice - please contact Jonathan at EP Wealth and he will connect you with a qualified advisor.