Wealth Building Strategies: Investing and Tax Tips for Financial Success

Learn investment and tax strategies to help you achieve financial security and prepare for a prosperous retirement. How can you balance saving for emergencies and investing for the future? What strategies can you employ to maximize your tax benefits and build a secure financial future? NerdWallet’s Kim Palmer and Alana Benson discuss investment strategies and tax planning to help you understand how to navigate your financial journey effectively. They begin with a discussion of investment strategies, with tips and tricks on understanding different investment accounts like 401(k)s and IRAs, leveraging compound interest, and the importance of starting investments early. Then, Alana discusses tax planning and filing in-depth, covering the intricacies of different tax forms like W-4s and W-2s, the significance of estimated taxes for freelancers, and strategies for managing capital gains taxes. Kim and Alana delve into retirement planning and the challenges of active versus passive investing. They provide a framework for prioritizing your finances, emphasizing the creation of an emergency fund, taking advantage of employer 401(k) matches, and understanding the role of asset allocation based on age and risk tolerance. Additionally, they tackle the decision-making process in personal finance, such as choosing between paying off debt and investing, and the pros and cons of having a financial advisor. In their conversation, the Nerds discuss: getting started with investing, tax strategies, retirement planning, financial advisors, Roth IRA, 401(k), individual retirement accounts, compound interest, investment accounts, passive investing, active investing, index funds, emergency funds, capital gains taxes, how to build wealth, investment strategy, tax filings, W-4 and W-2 tax forms, estimated taxes, freelancing, financial goals, saving money, risk tolerance, asset allocation, tax planning, financial planning, investment tips, tax tips, financial decisions, savings account, and brokerage accounts. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

Om Podcasten

NerdWallet’s trusted finance journalists answer real-world money questions to help you make smarter financial decisions with confidence. Each episode dives deep into topics like budgeting, saving, investing, home buying, and credit cards, cutting through misinformation to bring you clear, actionable advice backed by thorough research. By the end of every episode, you’ll have the latest financial insights and the tools you’ll need to manage your money wisely, build wealth, and plan for life’s milestones. And if you have questions for the Nerds, you can leave them a voicemail at 901-730-6373. Join hosts Sean Pyles, CFP®, Elizabeth Ayoola, and other expert Nerds as they answer your biggest money questions and share strategies to help you build wealth and reach your financial goals, including: – Investing: Advanced investment strategies, integrating ETFs and mutual funds into a diversified portfolio, tax-efficient retirement planning, understanding Roth IRA conversions, and navigating robo-advisors. – Credit Cards: Top credit cards for travel rewards and luxury perks, balance transfer strategies, maximizing credit card points, and optimizing credit card usage to boost your credit score. – Personal Finance: Advanced budgeting tips, building generational wealth, creating effective savings plans, managing high-income expenses, and developing a strong money growth mindset. – Home: Smart strategies for homebuying in competitive markets, leveraging home equity loans and HELOCs, refinancing for long-term savings, first-time homebuying tips, and budgeting for major home improvements. If you’re searching for the best personal finance podcasts or want practical knowledge to make smarter money decisions, then follow NerdWallet’s Smart Money Podcast. You’ll love NerdWallet’s Smart Money Podcast if you like podcasts like: Planet Money, The Personal Finance Podcast, DIY Money, Afford Anything, How to Money, The Ramsey Show, Money Rehab with Nicole Lapin, NPR’s Life Kit: Money, Popcorn Finance, Money Girl,Money Guy Show, Everyone’s Talkin’ Money, So Money with Farnoosh Tarabi, The Money with Katie Show, All the Hacks with Chris Hutchins, The Stacking Benjamins Show, MoneyWatch with Jill Schlesinger, or Your Money, Your Wealth. NerdWallet Compare, Inc. NMLS ID# 1617539 NMLS Consumer Access: http://www.nmlsconsumeraccess.org/