1. Switch to Bi-Weekly Mortgage Payments
If you’re paying your mortgage monthly, you might be missing out on one of the simplest hacks for long-term savings. I switched to bi-weekly payments—half a monthly payment every two weeks—and now I make 26 payments a year instead of 12. That extra “13th month” payment each year chips away at the principal faster. On a $500,000 mortgage with a 7% interest rate, this can save over $170,000 in interest and shave years off the loan.

2. Automate Everything: The 75-15-10 Rule
I split my income into three separate accounts: 75% for spending, 15% for investments, and 10% for savings. I set up automatic transfers as soon as income hits my account. This structure keeps my finances on track without needing willpower or mental math. Automating this system has eliminated budgeting stress and made investing a habit, not a chore.

3. Invest in Financial Education—Every Paycheck
I made it a rule: every paycheck, I buy one book, course, or resource to deepen my financial knowledge. Over time, I’ve read 25 books in five key categories—money, business, leadership, sales, and personal development—plus five biographies of successful people. It’s the equivalent of an MBA at a fraction of the cost. That education has transformed how I think about money, risk, and wealth.

4. Don’t Spend Raises—Invest Them
Most people fall into lifestyle inflation when they get a raise. Not me. Every bonus or raise I get goes straight into investments—at least at first. Once I’ve adjusted for long-term growth, I apply the 75-15-10 rule to future increases. That one discipline has helped me grow my portfolio faster and kept me from falling into the trap of spending just because I earn more.

5. Use Credit Cards—But Only Strategically
I’m not anti-credit card—I just believe they should be used carefully. I only swipe for things I already plan to buy and pay the balance off in full every month. The cashback or travel rewards I earn go directly into my investment account. But I stay away from cards entirely if I’m ever tempted to spend more than I should. Responsible use is key to making credit cards work for you, not against you.

6. Define Clear Financial Goals
I don’t save or invest just to “have more money”—I tie every dollar to a purpose. I have specific savings targets (3–12 months of expenses), investing goals (cash flow vs. appreciation), and even calculated how much I need in assets to fund my ideal lifestyle. This clarity helps me stay focused and make smarter financial decisions every day.

7. Learn Market Trends and How to Invest Accordingly
There’s passive investing, like buying index funds. And then there’s active investing, where you learn to spot trends. I look at five key areas: Main Street (consumer behavior), Wall Street (investor behavior), Government (policy changes), Innovation (new tech), and Broad Market conditions (like interest rate shifts). Services like Briefs Pro help me stay on top of these insights, but even basic research goes a long way. You don’t need to trade stocks daily—just understanding where the world is headed can guide better investment choices.

8. Financial Education Is the Real Escape Plan
The system isn’t designed for people like me to win by default. Institutions profit from keeping people financially uneducated—through interest payments, hidden fees, and impulsive spending habits. That’s why learning how money works is the first and most important step to financial freedom. Once I understood the rules, I started playing a different game—and winning.

If you’ve ever felt stuck or overwhelmed by money, try just one of these strategies to start. They may seem simple, but the impact they’ve had on my financial life has been anything but small.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post 8 Wealth-Building Strategies That Changed How I Manage My Money appeared first on ROI TV.

Automate Your Savings Early
Starting early gives your money time to grow, and automating your savings ensures consistency. Set up recurring transfers to your 401(k), IRA, or savings account. Joe and Big Al emphasize the concept of “paying yourself first” to prioritize future stability over short-term indulgence.

Understanding Market Behavior and Diversification
Markets fluctuate. A 15% drop within a five-year period is normal. Joe and Big Al stressed diversification—spreading money across cash, stocks, bonds, and alternative assets—tailored to your timeline and goals. This cushions your portfolio against volatility and avoids emotional, fear-based decisions.

Build an Emergency Fund and Tackle Debt
They recommend saving enough to cover 3–6 months of living expenses in an emergency fund. When it comes to debt, consider balance transfers, consolidation, or negotiating with lenders. Use the avalanche method (highest interest rate first) or snowball method (smallest balance first) to stay motivated and make progress.

Smart Moves for Childcare and Health Costs
Childcare costs can consume up to 27% of a family’s income. Consider a Flexible Spending Account (FSA), which allows $5,000 in tax-free savings. You might also qualify for up to $1,050 per dependent through the child care tax credit. For health expenses, Health Savings Accounts (HSAs) offer another tax-advantaged strategy, with contribution limits of $4,150 for individuals and $8,300 for families in 2024.

Managing Student Loan Debt
Federal student loan debt averages $40,000. Joe and Big Al highlighted income-driven repayment plans as a helpful option. They also pointed out that employers can provide up to $5,250 in tax-free assistance toward your student loans—a benefit more companies are starting to offer.

Boosting Retirement Savings with Catch-Up Contributions
If you’re over 50, take advantage of catch-up contributions: an additional $7,500 for 401(k)s and $1,000 for IRAs. Beginning in 2025, those limits will increase. Redirecting bonuses, tax refunds, or raises into your retirement accounts can accelerate your savings without changing your lifestyle.

The Overspending Trap
Even though 80% of people say they have a budget, most don’t stick to it. Joe and Big Al suggest using budgeting apps, tracking discretionary expenses, and distinguishing between needs and wants. Overspending during retirement—on travel, luxury vehicles, or home renovations—can shorten the lifespan of your savings.

Plan for a Longer Retirement Than You Expect
Americans are living longer—up to 87 years for women and 85 for men by 2050. Many people plan to work into their late 60s, but early retirement often becomes necessary due to health or employment issues. Trimming your budget by just 10% could stretch your savings by five years.

Get Personalized Help with the Financial Blueprint
To make all of this easier, Joe and Big Al recommend using the free “financial blueprint” tool available on the Your Money Your Wealth website. It shows whether you’re on track and what to change if you’re not. With the right tools, a few smart habits, and consistent effort, you can break through retirement barriers and create long-term financial freedom.

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

The post Break Through Retirement Barriers with These Smart Financial Strategies appeared first on ROI TV.

In this week’s episode, Big Al Klopp and I broke down exactly what it takes to get there and stay there. It’s not just about saving more; it’s about thinking differently about money, time, and the future.

What Financial Freedom Really Means

According to recent data, 54% of people define financial freedom as being debt-free, and 50% say it’s about living comfortably. Only 13% equate it with being rich.

For us, financial freedom means your passive income matches or exceeds your expenses. That’s the point where you get to choose how you spend your time.

But here’s the catch: freedom comes from cash flow, not just net worth. If you have millions in assets but no income from them, you’re still on the clock.

The Roadblocks That Get in the Way

Most people don’t get stuck because they’re lazy. They get stuck because of:

• Not saving enough
• Carrying too much debt
• Living paycheck to paycheck
• Emergencies that wipe out savings

Take credit card debt as an example. The average balance is $8,600, and if you pay just $272 per month, you’ll be at it for 53 months and spend $5,600 in interest.

If you want freedom, the first step is cutting the chains and for many, that starts with credit cards.

3 Steps to Financial Freedom

Big Al and I recommend this simple process:

1. Inventory – Know your numbers: assets, liabilities, net worth
2. Invest – Grow your money through smart allocation
3. Sustain – Build systems to maintain freedom over time

Calculating your net worth is key. Add up what you own (bank accounts, retirement plans, real estate, etc.) and subtract what you owe (mortgages, loans, credit card balances). That’s your starting point.

And remember: always pay yourself first. Before you spend on wants, contribute to your 401(k), IRA, or savings account.

Taxes: The Sneaky Expense That Eats Your Freedom

Taxes are one of the biggest threats to financial independence. In California, a single filer earning $100,000 nets just $72,000 after taxes.

Want to fight back? Use:

• 401(k) and IRA contributions to lower taxable income
• Roth accounts for tax-free growth
• Capital gains strategies married couples can pay 0% on gains if income is under $94,000

And don’t forget: IRA and 401(k) withdrawals in retirement are taxed like ordinary income. Plan ahead, or risk surprise tax bills later.

Retirement Savings: It’s Never Too Early (But Don’t Wait)

The math is simple. If you start saving $700/month at age 30, you could hit $1 million by 65. Wait until 50, and you’ll need $3,500/month to get there.

That’s the power of compound interest time is your biggest ally.

If you’re self-employed, look into:

• Solo 401(k)s
• SEP IRAs
• SIMPLE plans

And if your employer offers a match? Don’t leave free money on the table.

Build an Emergency Fund (Before You Need It)

Before you start investing aggressively, make sure you’ve got 3–6 months of expenses saved in a high-yield savings account. This keeps you from falling back on high-interest credit cards during emergencies.

Also:

• Set up automatic bill payments
• Monitor your accounts
• Improve your credit score by paying on time and keeping usage low

Passive Income: The Secret Sauce to Sustainable Freedom

Want freedom? You need income streams that don’t depend on you clocking in.

Some options include:

• Rental properties
• REITs
• Dividend-paying stocks
• Social Security

If you wait until age 70 to claim Social Security, you’ll get 124% more than if you claim early. That’s a massive difference.

Plus, don’t underestimate side hustles like freelancing, consulting, or tutoring especially in the early stages of retirement.

Keep Adjusting Because Life Will

Markets change. Taxes change. Health changes. You need a plan that can adapt.

That’s why we talk about the 4% rule a guideline, not gospel. Some years, you may need to pull back to preserve your portfolio. That’s called managing sequence of returns risk retiring into a bad market could force you to sell investments at a loss.

Check in on your plan regularly and pivot when needed. Flexibility is freedom.

Final Thoughts

Financial freedom isn’t about getting rich. It’s about getting clear. Clear on your income, your expenses, your values, and your goals. It’s about using your money to support the life you want—not the other way around.

Whether you’re just getting started or refining your strategy, remember this: it’s possible. You can have a plan that works, a life that feels right, and a future you’re excited about.

You just have to start.

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

The post How to Actually Reach Financial Freedom: The Strategy That Works appeared first on ROI TV.

1. Setting Financial Goals That Stick

Ric Edelman believes the way you frame your goals can make or break them. Instead of saying, “I need to stop spending,” reframe that into something positive and actionable like, “I’m saving to buy a house.” Goals with a destination give you something to aim for. Add a deadline, and suddenly that goal becomes real.

Ric recommends writing down your goals and putting them somewhere visible—on the fridge, the bathroom mirror, wherever you’ll see them daily. When you stay immersed by touring dream homes, flipping through travel magazines, or carrying a symbol of your goal like Ric’s Matchbox Jaguar you’ll find motivation naturally follows.

2. Managing Your Emergency Fund Wisely

Interest rates may be low, but your emergency fund isn’t about earnings it’s about access. Ric advises keeping 6 to 24 months of expenses in liquid cash for that reason. Whether it’s a job loss, medical emergency, or housing repair, the goal isn’t growth it’s readiness. Don’t be tempted by higher returns that come with higher risk. Stability is what counts when life throws a curveball.

3. Don’t Swing at Gold Unless You Know the Risks

Gold often gets hyped as a safe-haven asset, but Ric Edelman reminds us it’s anything but stable. Gold reached $850 an ounce in 1980 and took nearly three decades to get back there. That’s not a dip it’s a crater. Gold prices are notoriously unpredictable, and they don’t generate income. For those needing regular cash flow or capital preservation, Ric recommends sticking to investments that align with your goals and your risk tolerance.

4. Elderly Care: Planning with Dignity

Discussing finances with aging parents isn’t easy, but it’s essential. Ric suggests using third-party stories as a gentle entry point, easing into conversations about care preferences, estate planning, and financial preparedness. Involve a professional financial advisor to help mediate and clarify decisions so loved ones feel heard and protected not railroaded. At the core, it’s about respect and peace of mind.

5. Nolan Ryan’s Playbook for Life and Leadership

Nolan Ryan joined the episode with a wealth of experience both literal and figurative. His formula for success included mental preparation, relentless physical training, and the belief that failure is just part of the journey. When Nolan took over the Texas Rangers, he didn’t just change how players trained he changed how they thought. He encouraged high expectations, long tosses, post-game workouts, and a culture of ownership.

In business and baseball, Nolan believes adversity is an asset. Texas heat? Fan competition from the Cowboys? He turned those challenges into rallying points. Success isn’t just skill it’s attitude and environment.

6. Stock Market Smarts: Avoid the Hype

Ric closed out the episode by sharing a surprising stat: in 2010, stocks analysts liked least gained 20% on average twice the return of their most favored picks. The takeaway? Don’t chase headlines. Don’t follow the herd. Smart investing is about fundamentals, not fads.

Final Thought:

What do Ric Edelman and Nolan Ryan have in common? They both understand that success whether it’s financial or athletic is built on clarity, preparation, and perseverance. Visualize your goals. Stick to your plan. And when life throws you a curveball, step up to the plate anyway.

All information provided is for educational purposes only and does not constitute investment, legal or tax advice; an offer to buy or sell any security or insurance product; or an endorsement of any third party or such third party’s views. The information contained herein has been obtained from sources we believe to be reliable but is not guaranteed as to its accuracy or completeness. Whenever there are hyperlinks to third-party content, this information is intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals or points of view outside Edelman Financial Engines. All examples are hypothetical and for illustrative purposes only. Please contact us for more complete information based on your personal circumstances and to obtain personal individual investment advice.

Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.

The post Wealth and Winning Through Visualization, Discipline, and Mindset appeared first on ROI TV.