183. How to Optimize Wealth Building During Unemployment

Are you facing unemployment and racking up debts because of it? Do you feel like you're not moving fast enough towards your financial goals? In this episode, Shelly G. opens up about her turbulent 10-month-long unemployment journey and how she came out the other side. Although she accumulated almost $40,000 worth of debt, she has already made headway in paying it off, landed her dream job, and has creatively reduced her expenses.  LISTEN TO LEARN: 03:18 Shelly's G #MoneyWin 06:39 Her 2024 Word "Optimize" 10:50 Is Credit Card Debt Bad? 13:39 An Unplanned Sabbatical 29:44 Shelly's G Net Worth 34:00 Financial Accountability Partner RESOURCES Join the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Join our FREE email mini-course and start building wealth today: factorawealth.com/wealth-building-101 FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Want to get your kids more interested in investing but don't know where to start? In today's episode, Allegra is joined by Erika S., who has been talking to her kids about money since they were in the crib. Fast-forward 16 years, and her oldest has just opened a HYSA and is well on her way to a million-dollar net worth! Erika S. lays out her strategies for getting kids curious about wealth building from an early age and all the incredible takeaways she's gained from the Factora Community.  LISTEN TO LEARN: 06:25 Talking to kids about money 17:15 Opening an HYSA for her 19-year-old 19:30 Why HYSAs are so effective 23:00 Takeaways from Factora RESOURCES Join the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Join our FREE email mini-course and start building wealth today: factorawealth.com/wealth-building-101 FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Are you planning a wedding and looking for cost-saving strategies? Unsure of how to talk to your partner about finances? In this episode, Chris P. shares her personal take on wedding planning with her partner, focusing on how they’re designing a celebration that not only honors their values, but also respects their financial goals. Chris also opens up about her fertility journey, highlighting the hidden costs and hurdles while preparing for a baby.  LISTEN TO LEARN 7:00 #FinanceFlirting 18:00 Cutting Wedding Costs 25:00 Wedding Budgeting 27:30 Prenups 30:00 Fertility Journey RESOURCES Join the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Join our FREE email mini-course and start building wealth today: factorawealth.com/wealth-building-101   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Have you been curious about the Wealth Circle but have yet to pull the trigger? Now's your chance!    In this episode, Allegra unveils exciting changes to the Wealth Circle, including a new self-paced course format. This format offers you more flexibility to learn at your own pace, ensuring you get the most out of your wealth-building journey.    RESOURCES Join the Wealth Circle: factorawealth.com/wealth-circle   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Want to pay off your mortgage in 10 years instead of 30?   In this episode, Sarah B.L. shares the nitty-gritty details of how she paid off 25% of her mortgage in just two years—and how she's on track to pay off her 30-year mortgage in just 10 years. She explains why this decision was the right choice for her family, the difference between good debt and bad debt, and how talking about money made her a more confident investor.   LISTEN TO LEARN 04:00 - Financing Her First Home 10:30 - How She Pays Her Mortgage 14:30 - Her Home Buying Strategy 21:00 - Her Factora Learnings   RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Did you know that you have until April 15th, 2024, to contribute to your 2023 IRA?    If you haven't maxed yours out yet, this episode will share everything you need to know about making the most out of your IRA.    Allegra and Whitney explain everything you need to know about the difference between Roth and Traditional IRAs, the restrictions on contributing to and withdrawing from IRAs, and why IRAs are great investments.   LISTEN TO LEARN What an IRA is, and why you may want one even if you already have a 401(k) How to make the most of your IRA and avoid costly penalties A breakdown of the different types of IRAs - Roth, Traditional, SEP, and SIMPLE How to determine which IRA is right for you and your goals What action steps to take to open an IRA account    RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Feeling lost in the maze of financial tools and platforms? Curious about how others structure their finances for success?"   In this episode, Tay and Allegra reveal the ins and outs of their finance game, sharing the ins and outs of their account setups and the nifty tools that keep them sharp. From daily checks to annual overhauls, you'll discover how they effortlessly stay on top of their finances.   LISTEN TO LEARN 04:07 - Taylor’s Account Breakdown 07:47 - Lifestyle Analysis 14:05 - Taylor’s Financial Maintenance 21:18 - Allegra’s Account Breakdown   RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Are you hesitant about mixing business with friendship? Waiting to find your forever partner before purchasing a home?   In this episode, serial real estate investor Stef shares her journey of blending business with pleasure and harnessing the power of partnership to grow her real estate portfolio to an impressive 19 properties! Whether considering investments with friends, family, or both, this episode provides the insights and guidance necessary to confidently and clearly navigate the complexities involved.   LISTEN TO LEARN 03:32 - Stef's Real Estate Portfolio Breakdown 08:00 - "Houses before Spouses" 21:00 - LLC's & Operational Agreements 26:00 - Real Numbers & Examples 47:00 - 1031 Exchange   RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Curious about what it takes to start your own side hustle or invest in startups? Are you ready to unlock the secret to building a seven-figure net worth?   In this episode, we're sharing a recording from our January Community Event, where three Wealth Circle graduates joined Allegra to share their transformative journeys and strategies, including a remarkable transition from a $62K salary to an impressive $200K a year and another inspiring tale of a net worth leap from $60K to a staggering $682K.   LISTEN TO LEARN 04:45 - Success Stories of Wealth Circle Alumni 18:50 - Investment Asset Classes 20:00 - Starting A Food Truck Business 24:00 - Real Estate Investing 37:50 - Talking about Money 43:00 - Wealth Circle Q & A   RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!

Is it ever too late to start investing? Can understanding your 401k really make a difference in your financial future?   In this episode of Coffee and Coin, our Founder & CEO Allegra breaks down how she built a million-dollar net worth in less than 5 years while making $75K/year.  (And guess what? Factora's 2024 Wealth Circle is your ticket to do the same.)    LISTEN TO LEARN 09:00 - Allegra's Story 19:00 - What Is Financial Freedom? 24:30 - Factora's Financial Framework 28:00 - Success Stories 36:00 - Wealth Circle Q & A   RESOURCES Learn more about the Wealth Circle: factorawealth.com/wealth-circle Join 6 Figure Savings: factorawealth.com/6-figure-savings Get our FREE financial framework workbook: factorawealth.lpages.co/grow-net-worth-workbook Get our FREE investing checklist: factorawealth.lpages.co/investing-checklist/   FOLLOW Instagram: www.instagram.com/factora_wealth/ YouTube: youtube.com/@factora_wealth Visit our website: www.factorawealth.com   Got a question or a topic you'd like us to cover? Message us on Instagram @factora_wealth. Don't forget to subscribe and share this episode with someone who could benefit from it!