The Modest Millions Show | Personal Finance, Budgeting and Early Retirement Tips for Average Folks

The Modest Millions Show | Personal Finance, Budgeting and Early Retirement Tips for Average Folks

modestmillions.com
Personal Finance, Budgeting, Early Retirement and Financial Independence Tips for Average Folks
MM016 How To Find Your Side Hustle
Aug 7 • 28 min
I’ve been known to have an idea or two for a side hustle. Some are ridiculous ideas. Some are impossible ideas. Some ideas are so far-fetched I don’t know how in the world I came up with them. And then some ideas are solid, feasible, actionable and…
MM015 How To Create A Money Binder
Jul 19 • 23 min
If you manage your family’s personal finances, what would happen if the worst happened and you were no longer “available” to manage the household finances? In our house, I manage the finances, and Mrs. Modest is perfectly okay with that. If something…
MM014 The Simple Math Of Calculating Inflation In Retirement
Jul 3 • 19 min
Figuring out how to calculate how inflation affects your retirement savings is made out to be a super-complicated process, requiring advanced math skills. What’s frustrating is that calculating how your retirement savings is impacted by inflation isn’t…
MM013 The Power Of Small Dollars For Personal Finance
Jun 15 • 18 min
There’s this misperception out there that you need to have a bunch of money socked away before you can invest in either a retirement account or taxable account. Some of this advice comes from popular pundits who promote a debt-free-first lifestyle, some…
MM012 Price Is What You Pay Value Is What You Get
Jun 1 • 26 min
As a proud budgeteer, I’ll be the first to admit that I say “no” more often than I say “yes” when it comes to budget decisions. But sometimes, you need (or want) to flex your budget to make room for various purchases. So, how do you figure out the best…
MM011 A Tribute To Moms
May 16 • 5 min
Let’s take a quick departure from our regularly scheduled personal finance programming to talk about moms, specifically about the two most important moms in my life, Mama Modest and Mrs. Modest. It’s because of the money management principles that my mom…
MM010 Setting SMART Personal Finance Goals
May 8 • 19 min
That which is measured improves. Easier said than done when you’re trying to figure out your personal finance goals for the next 30 years. So how do you keep you personal finance goals on track? It all starts with SMART goal setting. In this episode we’ll…
MM009 Being Happy With Having Enough
May 1 • 10 min
Society encourages us to work hard so we can keep working our way up the corporate ladder so we can ultimately find success at the top. Along the way, we’ll see our income increase and almost inevitably so will our lifestyle. But, as we’re chasing…
MM008 Roth Or Traditional IRA Which Is Right For Me
Apr 26 • 35 min
What do you do when you have the option to contribute to either a Roth IRA or a traditional IRA? Is it better to take the tax break now in the hopes that the added investment juice and a projected lower tax rate in retirement leads to a larger nest egg?…
MM007 Tax Day Takeaways
Apr 17 • 9 min
Today is Tax Day in the U.S. It’s a day dreaded by many, but hopefully this year’s tax season was relatively stress-free and free of any major surprises for you. As we wrap up one tax year and plan for the next, it’s time to look back at what you would…
MM006 Understanding Retirement Accounts- IRAs
Apr 10 • 29 min
Sometimes you don’t have access to a 401(k). Sometimes you want to have more control over which funds you’re investing in. Sometimes you just want to have more retirement savings vehicles available to you. The IRA is the unheralded hero of the modern-day…
MM005 Understanding Retirement Accounts- Traditional 401k
Apr 3 • 34 min
You’ve heard of 401(k)s at work, and heck you might (hopefully!) contribute to one. But do you really know how they work and how they can maximize your retirement savings? Let’s dive in and learn more about the Traditional 401(k) account. IN THIS WEEK’S…
MM004 What Is The Four-Percent Rule And Is It Right For Me
Mar 27 • 40 min
Have you heard about the 4% Rule and how you can use it to safely make withdrawals from your savings in retirement? It can be a simple rule of thumb to make sure you’re able to withdraw enough money to cover your retirement expenses without needing to…
MM003 The New Retirement Model And The Goldilocks Goal
Mar 13 • 16 min
“Retirement” is such a dated term. It conjures images of senior citizens who have worked their whole life, only to retire with nothing to do. What if, instead, people gained financial independence so they could have the option to put their life skills to…
MM002 How To Set Up A Budget
Mar 13 • 15 min
Today, we tackle how to set up a budget, the cornerstone of any personal finance plan. The household budget is where it all starts, and without a firm foundation in place, it’s easy for our long-term savings and retirement goals to slip from our grasp.…
MM001 Breaking The Rules Of Retirement- A Manifesto
Mar 13 • 14 min
On today’s inaugural episode, we talk about the goals and objectives the podcast, household budgeting, the difference between “retirement” and “personal finance” one of the first tools I used while getting a handle on our personal finances and I’ll give…