Financial Health Tips

Make a rule to never think twice about investments in yourself: • Books • Sleep • Fitness • Network • Quality food • Mental health • Personal development These investments pay dividends for a long time. You'll never regret making them. Think twice about material purchases instead. Try the 24-Hour Rule: After putting something in your cart, wait 24 hours to complete the order. If you still want it, order it. If not, skip it. This has saved me tons on stupid impulse purchases that would have gathered dust. An example: When I started my first job, I chose to live by myself rather than with three roommates. On the surface, it seemed dumb—about 2x the monthly cost—but gave me space for deep focus and deep relaxation. I think the investment paid for itself in accelerated growth within a year. The bias is to underestimate the value that these investments have. The financial cost is easily quantifiable, so we focus on it. But all of the benefits—focus, physical and mental health, network, etc—are difficult to measure, so we fail to properly account for them. Always invest in yourself. You’ll never regret it. Follow me Sahil Bloom to invest in yourself in the future!

Ancient Wisdom for Modern Wealth (8 Stoic secrets to financial freedom) In a world of get-rich-quick schemes, true financial freedom lies in ancient wisdom. An age-old truth is that your mindset, not your paycheck, determines financial freedom. Stoicism, an ancient Greek philosophy, teaches us how to lead a life that balances achievement with purpose. Here's how you can apply Stoic fundamentals to thrive in an unpredictable world: 1/ Focus on what you can control.  ↳ Don't panic over fluctuating markets—control your spending, saving, and decisions. Example: During market downturns, focus on optimizing your budget instead of worrying. 2/ Embrace moderation.  ↳ True wealth isn't luxury—it's financial security and alignment with your values. Fact: 78% of millionaires attribute their wealth to living below their means. 3/ Think long-term.  ↳ Focus on future goals, and strategic patience beats short-term gains every time. Example: Invest in index funds & real estate for steady, long-term growth rather than chasing volatile stocks. 4/ Cultivate self-discipline.  ↳ Automate savings and avoid impulse purchases to stay consistent. Tip: Use the 30-day rule for big purchases to avoid impulsive spending. 5/ Prepare for uncertainty.  ↳ Build up an emergency fund and diversify your investments. Goal: Aim for 3-6 months of living expenses in your emergency fund. 6/ Value time over possessions.  ↳ Passive income buys time; material goods don't. Question: Would you rather have a luxury car or an extra hour each day to pursue your passions? 7/ Commit to learning.  ↳ Financial literacy grows as you grow.  Action: Dedicate 15-30 minutes daily to reading about personal finance or investing. 8/ See wealth as a means, not an end.  ↳ Money is a tool to build a legacy. Reflection: How can your wealth create a positive impact beyond your own life? These Stoic principles aren't just about money—they're about mastering your mind to master your finances. When you embrace these principles, you don't just build financial independence—you Design A Life Well-Lived. 💬 Which Stoic principle will you apply today to revolutionize your finances? Share your commitment below! --- 🔔 Follow Ravi Katta for more insights. ♻️ Repost to inspire your network of leaders and entrepreneurs. --- 📌 Read the full article here: https://shorturl.at/HkeFb 🔔 Follow Ravi Katta for more insights.

24% of households have a Roth IRA. But only 39% of them contributed. Here's something most misunderstand: Tax-free income is amazing. Earnings inside the account not only grow tax-free? But they also distribute tax-free as well. A rare way to create tax-free income. But something people don't point out? → 𝗔𝗰𝗰𝗲𝘀𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 So many are thrown off by the fact you can't access your retirement money until 59 1/2. But what most don't realize? This is only 𝙨𝙤𝙢𝙚𝙬𝙝𝙖𝙩 true. The truth is that it has flexible traits. And it's thanks to 3 components: 𝟭) 𝗥𝗼𝘁𝗵 𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀 These can be taken out anytime you desire. Why? You already paid taxes on them. Therefore, these can be taken out: - Anytime - Tax-free - Penalty-free In the distribution, the contributions come out first. 𝟮) 𝗥𝗼𝘁𝗵 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻𝘀 This is money thrown into here after a conversion from a pre-tax account like a Traditional IRA or a 401(k). It has a unique rule attached to it: The 5-year rule. As long as it has been 5 years since a conversion took place, they can be taken out anytime. But this is PER conversion (which is a taxable event) For example: → A $50,000 conversion in 2024? That $50,000 can be taken out in 2029? → A $60,000 conversion in 2025? That $60,000 can be taken out in 2030? → A $70,000 conversion in 2026? That $70,000 can be taken out in 2031. You get the picture. These funds taken out earlier than 5 years would be penalized. While not as flexible as contributions, it opens opportunities for accessibility early on. (Ex. Roth Conversion Ladders) 𝟯) 𝗥𝗼𝘁𝗵 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 This is where the tax-free perk comes into play. Because it's money earned that you get tax-free. It's this element where the taxes and early penalties are applied before 59 1/2 years old (Including the 5-year rule after first contribution). So, while you have to wait, you still get tax-free money eventually. There are some exceptions for not paying the penalty, but generally these have the most strict rules. Of course, everyone's situation will be different. In fact, there may be better accounts to pull from first. It's usually better to leave tax free funds growing for as long as possible. But then again, nothing is universal when it comes to these rules. It's all about the options in front of you and how you use them. You should consult with a financial advisor and tax professional before taking any action with this. The overall point is simple, though. Don't be thrown off by the 59 1/2 number. With strategy, tax-free money has never looked better. Do you have a Roth? - - - - - - - - - - - - - If you like visuals like this, you'll love the weekly money newsletter. Be sure to subscribe here: https://lnkd.in/gJC9mTQH Note: This post is purely educational and not financial, tax, or legal advice. Consult with a qualified professional before implementing.

I took an $80,000 loan for my master’s at Columbia University + and spent another $25,000 in living expenses. To all students wanting to study abroad now: here are 3 ways you can save money. When I got my education loan in 2017, the USD to INR rate was 64. Now, it’s an insane 82.3 (~30% increase). It’s 30% more expensive for students to study abroad today, not to mention increases in tuition fees, travel, and rent. In this environment, it’s prudent to try to save money where you can, and here are 3 ideas for you. 1/ SCHOLARSHIPS I got two loan scholarships for my master’s — from J.N.Tata and K.C.Mahindra Foundation — that together amounted to INR 18,00,000 (about $27,000 back then). This helped reduce the loan I needed for my master’s. Still, it was a loan scholarship, meaning I had to return the money, although with 0% interest. I recommend spending at least 25 hours scouring the internet for scholarships you can find. Those 25 hours might end up saving tens of thousands of $$ for you. It certainly did for me. Here are some websites that make this process very easy for you: - StudyFree - WeMakeScholars - Scholly, Inc. - ScholarshipsOwl - iefa.org 2/ REFINANCING YOUR LOAN This wasn’t very popular a few years ago but has come up lately. If you’re already in the US and want to reduce the interest rate on your loan, go for this. Some players who offer this today: Stilt, MPOWER Financing, Leap etc. They transfer your loan from your existing bank to themselves for a reduced interest rate, anywhere between 7-10%. Go for this option if: - You have a loan with a heavy interest rate (>10%) - You have a U.S. bank account and address. My loan had an interest rate of 8.5%, which then increased to 10.5% later. I was able to pay it back pretty quickly — but if I hadn’t, it would’ve made sense to move the interest rate down to 7%. 3/ GETTING LOAN FROM US BANK It’s possible to get interest rates anywhere between 4-8% when you get loans in the US directly. But, the big caveat here is you need to find a co-signer, who is either a citizen or a permanent resident and willing to vouch for you. Generally, this person is a trusted relative of yours with a decent credit score (>690). If you have someone like that, go for this option without fail! If you don’t, do not try to get a loan from a US bank even if they say “We offer loans without a co-signer.” They’re generally high-risk loans with bad terms. If you’re an international student or aspiring to be one, be sure to tag your friends and reshare this so it reaches the right people! - - - - - - - - - - - Finally, if you're an immigrant in America, join 11000+ who get a weekly newsletter with breaking news and free resources like this: https://lnkd.in/dAJfmGFH :) #finance #loans #masters #studyabroad #money #usa #india

Many companies don’t struggle because of profits. They struggle because of cash flow. Entirely preventable, but here’s the kicker: Too many leaders rely on historical metrics—net income, EBITDA, last quarter’s revenue—thinking they reflect financial health. They don’t. Because profit tells you where you’ve been. Cash flow tells you where you’re going. ➡️ Learn to analyze a cash flow statement in 10 steps and never miss another red flag again: https://lnkd.in/e2JXiUK6 ✔ Profit is a historical number. It tells you how the business performed—not whether it can navigate through what’s coming next. ✔ Cash flow is real-time financial health. It shows how money moves in and out, revealing whether you can meet obligations today. ✔ Forecasted cash flow is future strength. Because past performance doesn’t guarantee future liquidity. If you don’t know what’s coming, you’re flying blind. Here's why companies get this wrong: 1️⃣ They trust EBITDA instead of tracking real cash. → EBITDA strips out expenses like interest and taxes, but those bills still need to be paid. 2️⃣ They assume profit = cash in the bank. → Profit looks good on paper, but if revenue is tied up in receivables, you have no liquidity. 3️⃣ They don’t forecast future capital needs. → It’s not enough to know what happened last quarter—cash planning must include future payment obligations, growth investment plans, and economic shifts. Here's the right way to measure financial strength: 1. Operating Cash Flow → Are you generating real cash, or just showing paper profits? 2. Real Free Cash Flow → After investments, do you have excess cash, or are you overextending? 3. Cash Conversion Cycle → How long does it take to turn revenue into usable cash? 4. Debt-to-Cash Flow Ratio → Can you service obligations, or is debt outpacing liquidity? 5. Rolling 16-Week Cash Flow Forecast → Are you prepared for short-term risks, or just hoping for the best? The Bottom Line: ↳ Historical profit tells you where you’ve been. ↳ Current cash flow tells you where you are. ↳ Cash flow forecasts tells you your future. 📌 Make 2025 your best year yet and master financial leadership ↴ ▷ Enroll in my 5 on-demand video courses and save 50%+ with the bundle: https://bit.ly/4bTdu8T ▷ Join the April cohort waitlist for my 6-week Financial Intelligence Program: https://bit.ly/3ZCI0kr ♻️ Like, Comment, Repost if this was helpful. And follow Oana Labes, MBA, CPA for more.

Caring for aging parents is a challenge many don’t see coming. It can get overwhelming fast. Are you ready? I see it all the time—families blindsided by how quickly those responsibilities show up. And trust me, the financial hit is real. Assisted living can run over $70,000 a year, and memory care? Easily $90,000 annually. So, how do you prepare for something so overwhelming? Here’s what I tell my clients: ➡️ Talk now, not later. Have the tough talk with your parents. Ask about their care wishes and whether they have assets or insurance. The sooner you know, the better you can plan. ➡️ Don’t wait—explore options today. Visit facilities, compare home care, and nail down the costs now. Scrambling in a crisis is the last thing you want. ➡️ Stay financially flexible. Medical and care costs are wild cards. Make sure your plan can handle the unexpected with savings, insurance, or other strategies. And if you’re dealing with this now, protect yourself. In your 50s? Look into long-term care insurance—especially if self-insuring isn’t an option. It’s a smart move, whether you have kids or not. It’s about peace of mind and ensuring you don’t pass the burden onto others. Planning today means less stress tomorrow. Let’s make sure you’re ready. —— P.S. Want to see how long your current assets might last when it comes to long-term care? Use the calculator in the comments.

Here’s the one mindset shift that changed my life most. For the last 12 years, I’ve woken up every day with the thought that this would be the day I get laid off. It might sound harsh, but it’s the healthiest and most prepared approach I’ve ever adopted. This is particularly true in today’s world of staggering competition and overwhelming applicant numbers, especially in the most sought-after industries. Twelve years ago, I was laid off while living in Cambridge, Massachusetts. I spent nearly half a year unemployed, around the holidays no less, with only my partner's $20,000 graduate stipend in one of the most expensive cities in the world. It was one of the most challenging experiences of my life. I felt like I had failed and spent a lot of time wondering what I had done wrong and what my career would look like moving forward. Then, I made a decision: from that day forward, I would expect to lose my job at any moment. Not out of anxiety or fear, but as a form of preparation and realism. Companies can change for a variety of reasons - leadership shifts, mergers, market shifts - and expecting these changes has made me feel much more calm, not less. Adopting this mindset has several benefits: - Preparedness: If you assume that today might be your last at any company, your materials (CV, LinkedIn) stay updated, your networking never stops, and you’re always thinking about the next opportunity. - Financial Preparedness: Along with your professional preparedness, always ensure your finances are in order. Have savings, know what you’d do for healthcare, and plan for any gaps. This mindset isn't just about your career - it’s about your entire livelihood. - No Surprises: When you’re prepared for anything, you’re never blindsided by layoffs or changes in company direction. - No Attachment: I appreciate my jobs, but I don’t attach my identity to them. The only things I’m wedded to are my family, my friends, and my values. Companies can and do change - this mindset keeps me grounded. - Personal Brand Development: Always be developing your personal brand. Your identity should stand completely unattached from the company you work for. Build something that is entirely yours, because when that company changes or you move on, your brand stays with you. *** When people think of your name outside your company does a clear, positive picture come to mind for most of them? If not, it's time to work on this *** Consider this mindset. While it doesn't eliminate all risks, it puts you in a much stronger position to pivot when things change. Your career, personal brand, and financial future will benefit, and you’ll feel happier and calmer as a result. This approach is also grounded in reality. As we’ve seen over the last three years, layoffs can happen at any moment, often with little more than a form email, and most people at the company won’t care the day after. You’re the one who needs to be ready to respond at a moment’s notice, because nobody else will.

This is the advice I wish I had be given early on as a financial advisor. Here's some insight and top tips I've gathered during my last 18 years as a financial advisor and what I wish I would have known when I started. As a young advisor I was taught about the products I could sell and how to become a master at cold calling. I was taught that if I called X times, got Y appointments, I would close Z sales and make a lot of money. And sure, this is all true, but very little time was spent on the value of deeper conversations and learning the meaning behind the money of our clients. Here's what I learned the hard way that led me to great success (top 5% of ~11,000 agents nationally) ✅ Listen more than you talk ✅ Show people you listened by repeating back, in-depth, what they are telling you is important to them without a product agenda in mind! ✅ Quickly find commonalities with the people you're meeting with ✅ Talk about how Solution X = Outcome Y and tie it back to your client's hopes, dreams, and goals ✅ Don't rely on the "illustration" to close the sale for you ✅ Know your crowd; i.e. don't wear a suit and tie to meet with a dairy farmer Can a financial advisor find some level of success by focusing on selling financial product X over and over again? Sure, but most times this will limit your production and growth long term. In fact I've seen many advisors crash and burn using this Product model. The above tips might take a little more time to build up the steam you're looking for, but it's worth it. I remember our weekly sales meetings where I had very little to report early on, but then all of a sudden I was the one with the most production and people were asking me how I did it. Here's to teaching you how to fish instead of giving you one! What tips would you add to support the younger generation of advisors trying to grow? #financialadvisors #success #tips

"I don't get 40 years as a creator or an influencer; maybe you get 10 if you build a sustainable business and get lucky. So, I am doing my very best to set aside as much money as possible so that I can take care of my future." In my conversation with Vivian Tu, also known as YourRichBFF, we covered practical aspects of financial literacy, including savings, debt management, investments, and the FU number that allows you to achieve financial freedom. So, here are the key takeaways: 𝐏𝐥𝐚𝐧 𝐀𝐡𝐞𝐚𝐝: Understand the costs of your goals. Even smart people can miscalculate without proper planning. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐈𝐧𝐜𝐨𝐦𝐞 & 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝐄𝐱𝐩𝐞𝐧𝐬𝐞𝐬: Vivian saves more than 20% of her income, focusing on the future. Aim to boost income while keeping expenses steady. 𝐒.𝐓.𝐑.𝐈.𝐏 𝐌𝐞𝐭𝐡𝐨𝐝𝐨𝐥𝐨𝐠𝐲: It’s a five-part plan designed to help you manage your budget with a focus on securing your future financial well-being. ▪️Savings: Have an emergency fund. Single folks need 3-6 months of living expenses; households need 6-12 months. ▪️Total Debt: Rank debts by interest rate. Pay off the highest interest debt first while making minimum payments on others. ▪️Retirement Funds: Use 401(k)s and IRAs for tax benefits. Invest to keep up with inflation. Aim to get the full employer match. ▪️Investments: Saving isn’t enough. Invest in high-yield accounts to keep up with costs. ▪️Plan: Develop a comprehensive financial plan and adjust it as your life circumstances change. Calculate your financial freedom number (FU number) by determining your annual expenses and dividing by 0.04. For instance, if you need $1 million annually, your FU number would be $25 million. 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐋𝐞𝐯𝐞𝐫𝐚𝐠𝐞: Leverage debt if the economics work in your favor. For high mortgage rates, paying down might be wiser. For rates under 7%, investing might be better. 𝐌𝐨𝐧𝐭𝐡𝐥𝐲 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠: Use spreadsheets to manage finances, track credit card statements, and have regular financial discussions with your partner. Vivien’s approach emphasizes understanding your finances, making informed decisions, and continually adjusting your plans to align with your goals and circumstances. Thanks for such a great conversation! #YourRichBFF #VivianTu #MoneyManagement #FinanceTips #FinancialLiteracy

I’ve enjoyed reading reports and LinkedIn recaps from the recent World Economic Forum’s annual conference in Davos. One of the most discussed topics was the future of work, as professionals worldwide are re-evaluating their careers, seeking more fulfillment, flexibility, and financial security. I am glad to see people talk about financial security in this context. When you make a career change, the financial implications have to be top of mind. Several years ago, at the height of the Great Resignation I wrote an ‘Ask Carrie’ column to guide people through the financial implications of leaving their job. These core principles still apply today:  ✅ Clarify Your Why: It’s important to first envision where you want to go and what you are ultimately striving for. Visualize what your life and career looks like 5 years, 15 years from now and build off of that vision. It's one thing to be dissatisfied or want to make a change; it's another to know what will make you happier. Dig into the details of any new position and define your real motivation to ensure your next move aligns with your long-term goals. ✅ Assess the Financial Tradeoffs: Leaving a job often means leaving behind benefits and depending on the position you’re leaving, they could be significant. Employee benefits can encompass everything from health insurance and matching retirement contributions, to paid time off and childcare subsidies. And don't forget about things like stock options and restricted stocks. You may be walking away from good money! ✅ Plan for Learning & Transitions: If you're looking for a new job in your current field, making a change may be pretty straightforward. But if you want to do something completely different it's going to take time and money—and upfront planning. Map this out in advance and plan for the investment required to make a smooth transition. ✅ Strengthen Your Financial Safety Net: You may be emotionally ready to make your move, but be sure to give yourself a smooth financial path before you do. I recommend you: 1. Shore up your savings—Building your emergency fund is key. I suggest having enough cash to cover 3 to 6 months of essential expenses. Things don’t always go according to plan. 2. Pay down debts—If you're carrying credit card balances, try to bring those close to zero to free up the cash you’ll need for necessities during your transition. 3. Rethink your budget—Wants and non-essentials may need to take a backseat while you're in transition. Take a good look at where you can cut back short term. 4. Review your insurance—This is crucial, especially health insurance, no matter your age Whatever you do, make sure you and your family have continued coverage. The job market is evolving, and there are many opportunities to consider—but making a career move from a place of financial strength ensures both professional fulfillment and long-term security. Are you rethinking your career right now? What’s driving your decision?