Your Money Minute: The New 529 is More Than Just College Savings

In this edition of Money Minute, Candy shares her thought-provoking perspective on the relationship between income and spending. She argues that more money doesn't necessarily resolve financial issues, highlighting that many Americans are spending significantly more than they save. Valentino discusses the importance of prioritizing savings and investments over lifestyle expenditures, offering her practical 10-10-10 rule as a guide to financial freedom. Tune in to discover how to shift your focus from spending to investing for true wealth building! Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode, Candy shares powerful insights on building wealth and breaking free from the cycle of living paycheck to paycheck. Discover why hard work alone won't lead to financial security and learn about the importance of owning assets that generate income. Candy highlights three key areas for aspiring entrepreneurs: digital services, home services, and care services, emphasizing their low barriers to entry and consistent demand. Tune in to find out how you can identify problems to solve and take the first step on your wealth-building journey! Learn more about your ad choices. Visit podcastchoices.com/adchoices

This week, Candy reveals the hidden money leaks that may be draining your bank account without you even realizing it. From unused app subscriptions to bloated phone plans, these small expenses can add up to a staggering $1,200 a year for the average American. Candy shares actionable steps to identify and plug these leaks, including auditing your subscriptions, negotiating with your phone carrier, and redirecting savings into investments. Start making your money work for you today! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Candy introduces the transformative concept of the "No Spend October" challenge. Learn how taking a month off from non-essential purchases can significantly enhance your financial health. Candy shares practical steps to identify spending leaks and offers alternatives for those who find a complete no-spend daunting. Tune in to discover how to take control of your finances and set yourself up for success before the holiday season! Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition of Your Money Minute, Candy tackles the often-overlooked topic of wealth habits and introduces the concept of "spaving"—spending money to save money. Candy shares three key steps to avoid falling into this financial trap. Tune in to learn how to reassess your spending habits and prioritize your financial goals for a more secure future! Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition of Money Minute, Candy explores the concept of financial security and the psychological perceptions surrounding wealth. Drawing from a study by Charles Schwab, she reveals that many Americans believe they need around $840,000 to feel financially comfortable and $2.3 million to feel wealthy. However, the median net worth for those nearing retirement is only about $409,000. Candy emphasizes the importance of finding your own 'freedom number'—the amount you need to cover your lifestyle expenses instead of adhering to societal definitions of wealth. Listen in to learn how to calculate your freedom number and take actionable steps toward financial independence! Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition of Your Money Minute, Candy introduces a powerful tool called Reversed Engineered Outcomes (REO) to help you achieve your financial and life goals. She breaks down five essential steps to clarify your desired outcomes, focus on solutions, acknowledge your strengths, commit to your decisions, and take actionable steps. If you're ready to take control of your financial future with intention, this episode is definitely for you. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition Your Money Minute, Candy discusses the recent upgrades to the 529 plan, which now offers families greater flexibility and options for saving. Discover how the new changes allow for expanded use of funds for K-12 education, career training, and even the ability to roll over unused money into a Roth IRA. This episode is packed with valuable insights that can help you leverage the 529 plan as a powerful wealth-building tool! Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition of Your Money Minute, Candy shares crucial insights on wealth-building beyond the traditional advice of working hard and saving. She emphasizes the importance of building assets, particularly through business ownership, which can lead to greater cash flow, tax advantages, and asset creation. Candy encourages listeners to take intentional steps towards wealth by starting their investments, real estate portfolios, or businesses today. Tune in to learn more. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this edition of Your Money Minute, Candy tackles the daunting financial challenge of paying for college. She shares insights from T. Rowe Price's recently released college savings roadmap, emphasizing the need for families to save approximately $105,000 by the time their child turns 18. Candy breaks down the recommended savings milestones and highlights the importance of starting a 529 plan early. She also stresses the necessity of setting clear expectations with children regarding financial responsibilities, promoting resilience as a key life skill. Listen in for more key advice on navigating college savings! Learn more about your ad choices. Visit podcastchoices.com/adchoices