@calltoleap: Not sure where to park your money after getting paid? Keep watching 👀 Here’s the smart order to follow if you bank with Chase, Wells Fargo, or Bank of America and want to grow your net worth in 2025: 1. Keep 2 months of necessary expenses in your checking account for day-to-day use. 2. Put $300 a month into a high-yield savings account until you’ve built up 3-6 months' worth of emergency funds. 3. Contribute $500 to your 401(k) until you hit your company’s match. 4. Max out a tax-advantaged account like a Roth IRA: aim for $583/month if you're under 50, or $666/month if you're 50 or older. 5. Once your 401(k) and Roth IRA are topped off, you can explore other options like an HSA, SEP, SIMPLE IRA, or open a Taxable Brokerage Account. The #1 mistake people make is investing before they’ve saved their emergency fund. Always build that safety net first, then focus on those tax-advantaged accounts! 👆 -Steve Follow @calltoleap for investing videos! Follow me @calltoleap to learn more things like this about money! @calltoleap @calltoleap Make sure you check out my beginners investing master class happening February 4th at 5:30 PM PT. The link to sign up is in my bio! 🔥 #money #investing #finance #personalfinance

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Saturday 18 January 2025 00:00:20 GMT