Episode Description
Where does your tax bracket send you next? Kim and Emily continue their waterfall savings framework, diving deep into maximizing 401(k)s, understanding the powerful benefits of Roth accounts, and navigating tax-advantaged savings strategies. Learn when to prioritize reducing taxable income versus building tax-free growth, plus why automation is the secret to making your waterfall work effortlessly.
The Waterfall Savings Method (Part 2)
Episode Summary
Picking up where part one left off, Kim and Emily clarify the confusing relationship between 401(k)s and IRAs, explore Roth 401(k) options and their double tax advantage, and move beyond retirement to discuss 529 college plans (with Emily’s honest take on why your retirement comes first), brokerage accounts, and low-interest debt like mortgages and student loans. The key to making your waterfall work? Automate everything, review during major life changes, and if you’ve made it this far down the waterfall, seriously consider talking to a financial professional.
“Money shouldn’t be a reward or punishment system, but really an allocation of what bucket I’m going to put it in.”
Episode Links
Podcast Description
Financial Strides is your practical guide to financial wellness, hosted by Kim and Emily from Woodley Farra Manion Portfolio Management. Each episode tackles real money questions with clear, jargon-free conversations designed to fit your life and your pace, helping you build confidence in your financial decisions one step at a time.
Woodley Farra Manion does not provide tax, legal or accounting advice. The material discussed in this podcast series is informational in nature and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to taking action related to this information.