If you’ve been watching the show for any amount of time, you might think we have two great, free resources: the Financial Order of Operations and our Wealth Multiplier. Brian does a great job showing the iconic FOO resource on the show, but we realized the other day that some of our other free resources don’t always get the love and attention they deserve. Here are a few of my favorite Money Guy resources that you may not have heard of.
1. 2022 Money Guy Tax Guide
Get it before it’s gone!* This tax guide includes income tax rates, brackets, credits, deductions, retirement account limits and phaseouts, Social Security information, and so much more. At 12 pages, this is one of our longest and most comprehensive resources. It’s a great resource for planning throughout the year and for when you are doing your own taxes.
*(Updated for 2023)
2. Money Guy Net Worth Template
We believe that completing an annual net worth statement is one of the most powerful tools you can use to keep track of your finances. Our basic net worth template is free to download. If you are looking for a more robust net worth tracker, with a home dashboard that includes charts and tables tracking different net worth metrics, check out our $29 Net Worth Tool.
3. How Much Should You Save?
This table shows the percentage of income you can replace in retirement, by age and savings rate. I love it because it visually shows how little you can get away with investing if you start super early, and how much more you’ll need to invest if you start later. Originally created as part of our Know Your Number course, if you are digging this resource, you’ll love the course.
4. Are You a Prodigious Accumulator of Wealth?
Keep this handy to see how much you should have, by age, to be considered a prodigious accumulator of wealth (PAW). We show values at four different levels of income, but if your income isn’t represented, you can simply multiply or divide different values on the table to get your PAW number.
5. 8 Questions To Ask Your Financial Advisor
It can be difficult to know what you should be looking for in a financial advisor unless you are immersed in the world of finance. We created this guide to help you evaluate your current advisor or prospective advisor. Unfortunately, not all advisors place the interests of their clients ahead of their own. Use this guide to help you determine if your advisor is a good fit.
6. Are You On-Track To Be a Millionaire?
This resource shows the lump-sum amount required to become a millionaire by age. In other words, it shows what amount you need to have invested by age to be on-track to be a millionaire. You can multiply the values to see what you need to be on-track to have $2 million, $5 million, and more.
7. Home-Buying Checklist
The decision to buy a home is one of the most important financial decisions you need to make sure you get right, especially when home prices and interest rates are both high. This checklist includes a list of things to think about before you buy a home.
These are a few of my favorite resources that we don’t always talk about on the show. We have even more available for free on our website. Let me know in the comments what your favorite resources are, or, even better: which resources do we not have yet that you’d like us to create?
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