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The Sugar Free Podcast is a place where Millenial women gather to exchange real-life advice through raw, honest, unfiltered (sugar free) conversations. Because let’s face it, adulting is way harder than it looks on television and we could all use a little help figuring this thing out. Each episode, show host, Sydnee Mack, explores a variety of topics that are important to Millennial women from careers, to dating, starting families (or not) , financial security and mental health. Each topic is covered through interviews with dynamic guests who are experts in their fields by way of education, scholarship, work experience and/or lived experience. Each guest offers actionable advice, tools, resources and strategies to help Millenial women create the lives that they want verses the lives that were crafted for us by our parents, haters and society. Show host, Sydnee Mack, Esq., is a Millennial lawyer, professor, entrepreneur, best-selling author and woman who uses her knowledge and experience to lead entertaining conversations with vulnerability, curiosity, compassion and humor (lots of it).
Episodes
Monday Dec 13, 2021
Monday Dec 13, 2021
The only thing harder than getting a coin is keeping a coin, especially when the cost of education, affordable housing and good avocado toast just keep rising! Join Syd and Special Guest, Kevin L. Matthews II, for a Sugar Free discussion about finances, 401(k)’s, Investing and building generational wealth.
Kevin Matthews is a former Top 100 financial advisor (as named by Investopedia) and founder of @BuildingBread, a financial education consultancy designed to educate and advise both organizations and Individuals on the basics of financial literacy, investing and retirement planning. He has managed over $140mm during his financial advising career and is author of the best-selling book— Starting Point: How to Create Wealth that Lasts. For more information on Kevin, visit www.buildingbread.com.
ENROLL IN A COURSE: Ready to start investing but don’t know where to start? Take one of Kevin’s AMAZING financial literacy and investing courses by clicking this link: https://buildingbread.thinkific.com/?ref=85305c
SHOW NOTES
I read an article recently that stated 60% of Millenials making over $60,000 live paycheck to paycheck. What factors/obstacles are keeping us from financial stability?
- Inflation is outpacing earnings
- Cost of living is too high
- College tuition is too high
- Childcare is expensive
How much of your current salary should you be saving for retirement?
- 12-15% including any matching or contributions provided by your current employer. However, you can work up to that gradually if you’re not ready to put a full 12
- The goal for a comfortable retirement should be to save at least $2.1 million or 25x your current salary for retirement. Start NOW.
Is $100k still THE marker for financial stability?
- It depends on your location. One hundred thousand dollars may be enough if you live in Oklahoma, maybe not if you live in New York.
- Generally the marker for annual earnings is probably closer to $125,000 for financial stability but may go up or down depending on location
- You should be striving to have a solid structure and plan in place to achieve financial stability. The plan should include paying your bills, emergency savings, investing and saving for retirement.
How much do children cost?
- The average cost for caring for one child is $300k-$400k from age 0-18 years old, but you don’t need all of that on day one.
What tools do you recommend for new investors?
- Public – a social media app for investing
Best advice for saving and investing
- Start now and be consistent
- The key to investing is time and consistency. Small amounts add up to sizeable amounts over time.
- You can save and invest no matter how much you’re making. If you had put $100/mo in Google stock from 2012-present, you would have $74k now. It’s okay to start small.
Tune in to the Sugar Free Podcast everywhere podcasts are available:
Apple Podcasts: https://podcasts.apple.com/.../the-sugar.../id1573862487
Google Podcasts: https://podcasts.google.com/.../aHR0cHM6Ly93d3cuc3VnYXJmc...
Spotify: https://open.spotify.com/show/0G7127VhGnhnD36X0t72gm
Amazon/Audible: https://music.amazon.com/.../ebc55.../THE-SUGAR-FREE-PODCAST
Youtube: https://www.youtube.com/channel/UC0cHoUmESN8CF3uGZ7IyeDA
Website: www.sugarfreepodcast.com
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