Should we be putting any money towards term life, whole life, disability insurance during the time we are paying off our debt and investing into IRA/401k? Also should we wait on putting money into brokerage accounts as well until debt is paid off? Seems here we should really be focusing only on IRA/401k and paying off student loans until the loans are gone. Great video!
Don’t do whole life. Do term life if you have other people in your family that rely on your income (ex. Child, spouse, parent) Disability insurance is one of the first things you should do when you start practicing. Your best asset is your ability to practice. You can choose to put some in your brokerage as well, it’s good to put money in there that you want to be able to pull out before retirement, but that won’t shrink if it’s in your bank. Your bank should only have your emergency fund plus basic expenses you expect to spend each month , anything extra should go to investing or loans
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Awesome video, this is incredibly helpful 🙌
Thank you! Im glad you find it helpful 😊 🙏🏻
Should we be putting any money towards term life, whole life, disability insurance during the time we are paying off our debt and investing into IRA/401k? Also should we wait on putting money into brokerage accounts as well until debt is paid off? Seems here we should really be focusing only on IRA/401k and paying off student loans until the loans are gone. Great video!
Don’t do whole life. Do term life if you have other people in your family that rely on your income (ex. Child, spouse, parent)
Disability insurance is one of the first things you should do when you start practicing. Your best asset is your ability to practice. You can choose to put some in your brokerage as well, it’s good to put money in there that you want to be able to pull out before retirement, but that won’t shrink if it’s in your bank. Your bank should only have your emergency fund plus basic expenses you expect to spend each month , anything extra should go to investing or loans
Great video Andreas!
Thanks Daryana! 🙃