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Steps 2 Wealth

Step 1 - Starter Emergency Fund

Put $1,000 in a money market account that is separate from your regular checking and savings.

Retirement Plan.PNG

Step 2 - Fund work retirement plans
(401k, 403b, etc..)

  • Take full advantage of any company match.

  • Do not contribute more than the company match at this point.

Step 3 - Pay off all high interest debt

Make a list of all debt and use the debt snowball to pay off all debt other than your mortgage

Credit Card
Yen Bills and Coins

Step 4 - Fully Fund Emergency Fund

Put 3 - 6 months worth of your basic spending in your emergency fund.  This should be enough to get you through a job loss and/or unexpected expenses.

Step 5 - Save 15% - 25% of income for retirement

  • Fully fund Roth IRA's

  • HSA's up to plan deductibles or company match.

  • Max out  work retirement plans (401k, 403b, etc..)

Stethoscope on the Cardiogram

Step 6 - Health Savings Accounts (HSA's)

Max out HSA

  • Keep 1 years worth of deductibles in Cash inside of HSA​

  • Invest anything over annual deductible in mutual funds inside HSA

Pedestrain Bridge

Step 7 - Invest for future
non-retirement expenses using "Bridge" account

Develop your "Rich Life"

  • What would you never do again if you were rich?​

  • What would you always do if you were rich?

Pedestrain Bridge
Teacher Writing a Formula on a Blackboard

Step 8 - Fund college
and children's expenses

Decide what costs you want to help your children with.

  • Fund 529 or UTMA accounts

  • Help children fund Roth IRA (Mommy or Daddy Match)

Pedestrain Bridge

Step 9 - Pay off home mortgage

Does this need an explanation?

Luxury Home
Donation Boxes

Step 10 - Give generously

​What good is having wealth if you don't help others? 

  • Support the people and causes that you care most about and believe in.

  • Help people who are truly in need.

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