Wealth-Building Investment Strategies (w/Justin Smith, CFA, CFP) [Ep.31]

Don’t miss Part 2 of my conversation on wealth-building with my financial advisor, Justin Smith, CFA, CFP!  In this episode, Justin and I discuss:• Emergency Funds - who needs one, what type of expenses to include, how many months of expenses it should cover, and where you should keep the dollars.• The philosophical approach to investing that Justin recommends to his clients.• How to approach diversification both within and among asset classes.• The numerous benefits of having a wider margin between income and expenses.• How to balance saving and investing with spending and enjoying excess dollars.• Cryptocurrency and whether or not Justin sees it as a viable asset class in an investment portfolio.• Student debt including how to incorporate it into an investment approach and if/when it makes sense to pay it down more aggressively.• Saving for children’s college education including when to start, how much to set aside, and if 529 plans are the best way to do it.• What to do if you end up with excess funds in a 529 plan and the new 15-year rule for transferring money from a 529 plan to a Roth IRA.• Justin’s closing pearls summarizing how to achieve financial freedom.LINKS• The Real Reason Big Savers Retire Early: Minimizing Retirement Savings Needs:  https://www.kitces.com/blog/retirement-savings-needs-big-savers-avoid-lifestyle-creep-to-retire-early/• To learn more about Smith Partners Wealth Management: https://smithpartnerswealth.com/• The Ortho Coach website:  www.TheOrthoCoach.com