by Money Guy | Aug 12, 2023 | Ask the Money Guy, Blogs, Financial Planning
In this highlight, we discuss how George Kamel increased his income through side hustles, saved diligently by being frugal, invested in retirement accounts and real estate, and paid off his home early to build wealth and financial freedom. Want to know what to do with...
by Money Guy | Aug 7, 2023 | Ask the Money Guy, Blogs, Financial Planning
Once you have reached step seven of the financial order of operations, saving 25% of your gross income, and are in the hyper-accumulation phase, you have the freedom to spend your hobby money on a car payment if you wish, as long as you have checked all the other...
by Money Guy | Aug 7, 2023 | Ask the Money Guy, Blogs, Financial Planning
George started at Ramsey in 2013, buried in consumer debt, but after going through a financial program and following a set plan, he became debt-free in 18 months, bought a house, paid it off early, and eventually reached millionaire status, now co-hosting several...
by Money Guy | Aug 5, 2023 | Ask the Money Guy, Blogs, Financial Planning
If you’re saving for a second house with a timeline of seven to ten years, a balanced approach of investing part of the money in low-cost index funds and keeping the rest in a high-yield savings account may be a suitable strategy to achieve your goal. However,...
by Money Guy | Aug 4, 2023 | Ask the Money Guy, Blogs, Financial Planning
Congratulations on the new baby! When determining life insurance coverage, a common rule of thumb is 10 times your annual income, based on your current income, but consider additional factors such as future income potential, debts, health, and family needs to ensure...
