Gen One Legacy

“Are we there yet, are we there yet?” Now, if you’re a parent with young children, then this refrain coming from the backseat of your car is likely commonplace at this time of the year.  Now, as tempting as it is to get frustrated by these questions, especially when you’ve heard them for the umpteenth time, the reality is that the question, “are we there yet?”, as annoying as it may be, is one tha...

When you hear 'estate planning', what pops into your head?  Massive mansions, complex legal documents, and colossal inheritances, right?  Well, truth be told, estate planning isn't just for the well-heeled. In fact, it's a must-do for anyone and everyone who wants to keep their hard-earned assets safe, distribute their wealth in an organized way, and take care of their loved on...

Whether you love it or hate it, getting and maintaining the right insurance coverage is one of the most crucial financial decisions you can make to build and preserve your financial independence outside of saving for retirement. Now, up until recently, it seemed like the only way to get the coverage you needed was to work with an insurance salesperson. Even so, with various options and so many pol...

Making regular contributions to an employer-sponsored plan can supercharge your journey to financial independence.  But, you already knew that, right? And, you likely already know about the benefits of "free money" that you could receive from your employer match and how pre-tax contributions to a qualified retirement account like a 401k, 403b or other employer-sponsored account can give...

Stocks in the US are back in bull market territory this month but don't tell that to the market bears.  That's because it seems like just around every corner, there seems to be a risk that could take the steam out of the current rally and send risk assets into a sharp drawdown only matched by those related to recent economic, political, or security dysfunction. Make no mistake, this year...

When was the last time you mentally rehearsed how you're going to make your financial goals a reality? Well, whether you're a skeptic or a die-hard proponent of mental rehearsal, you can take a lesson from Craig, who used this approach to fast-track his financial progress toward his essential life goals. Now, Craig had a decent job as a middle manager in a tech company and was making goo...

Warren Buffet once wisely said, "Risk comes from not knowing what you're doing." These words ring true, especially when it comes to your personal finance.   Picture yourself embarking on a journey without a map, unaware of the twists and turns that lie ahead. Now apply this metaphor to your financial life.   The truth is that we all have blindspots which are those overlooked or misu...

Have you ever wondered why some people seem to achieve enormous growth, whether in mastering new skills or building wealth, while others appear stuck in a state of static complacency?   Exponential growth might just be the hidden answer.   Now, before you write off this seemingly abstract concept, let's take a moment to think about this concept in simpler terms.   To do this, picture yourself...

A Roth conversion is a critical consideration for many high-earning tech professionals and business owners, but is it right for you? To be sure, as you delve into the work of planning for your financial independence journey, it's essential to understand the intricate dance between taxable and tax-free retirement accounts. And as we've pointed out in recent articles, with a strategic appr...

Decisions, decisions, decisions. That's mantra, for better or worse, that defines the life of every tech professional navigating the complex labyrinth that is the world of restricted stock (RSUs). Picture this - you're sitting at your laptop, sipping your morning coffee, and you receive a notification that your company's stock has vested. That's good news, right? After all, thi...

What does having a perfect credit score mean to you? Well, it might mean being able to show up at the dealership and buy your next car without worrying about how you will finance it.  Or, it might mean having peace of mind knowing that you can purchase your dream home because you've qualified for a relatively low-interest rate. Either way, having a perfect credit score can open up many opport...

Are you good at setting boundaries? If you’re not, then rest assured that many individuals struggle with setting and enforcing boundaries.  And what kind of boundaries are we talking about here? Well, imagine for a moment that a school’s playground is situated so close to a highway that you could reach out and touch the passing cars. In fact, there are no fences surrounding the playground and cars...

Have you ever wondered why your savings aren't growing even though you're contributing to an investment account? It may be because you haven't set your investment strategy. That's what happened to Mariam. Now, Mariam knew the importance of investing and that her bank account wouldn't cut it when it came to satisfying her long-term financial independence goals. But, like ma...

If you had to guess how financial markets performed in the first quarter based solely on news headlines, what would you find? Performance was likely quite poor, right? Well, the truth is that markets held up quite well in the first quarter, but I wouldn't blame you if you guessed that it was just another disappointing repeat of what we saw last year. To be sure, after news of markets swooning...

Are you feeling overwhelmed with managing all of your financial accounts? Are you finding it challenging to stay on top of your finances and make sound decisions due to cognitive overload?  Well, it turns out that being overbanked can have significant mental and financial costs, ultimately hindering your journey to financial independence.  In this week’s episode, we explore the phenomenon of cogni...

What do Willie Nelson, MC Hammer, and Allen Iverson have in common? Well, what their life situations have in common is that it doesn't matter how much you make, but how much you keep. To be sure, these individuals came into vast fortunes, only to see their wealth dwindle in a short period of time. And certainly, it's hard to believe that these individuals didn't have trusted advisor...

Is credit a good thing or bad thing? Well, it all depends on your perspective. When used correctly, credit can supercharge your life and help you level up financially in a shorter time than you would have if you relied on savings alone. That's why Dale Carnegie, in his book, "The Gospel of Wealth," wrote that debt could be a powerful force for good if used productively. Now, the tro...

What really drives the value of your employer's stock? Well, if you hold your employer's stock in your 401k or through your equity award, then you might be interested in learning how your own insider perspective can help you understand what can cause your company's stock to move up or down over time.   That's because, in this week's podcast, we'll discuss the key fact...

Can banking sector woes actually be a good thing for the fight against inflation?  Well, in some ways a seemingly negative event like a credit crunch could actually bring about positive change in the economy and the markets financial markets.  And in this week’s podcast, we’ll take you on an insightful journey through the surprising connections between recent turbulence in the banking sector, the...

Cash is the lifeblood of your finances. Without it, you would be hard-pressed to pay your debts, cover your living expenses and prepare for essential savings decisions.  With cash flows being a critical component of household finances and the primary path to securing financial independence, various surveys suggest that between half and three quarters of Americans don't have a process for keep...

Is tax anxiety causing you to wait until the last minute to file your tax returns? If so, then you’re in good company.  According to one survey, over thirty percent of respondents said they waited until the tax filing deadline to prepare their returns last year. Now, if you’re one of these individuals, there’s likely many reasons why you’ve chosen not to file your taxes yet. Maybe you anticipate o...

Money alone will not buy you lasting joy. Money alone will not solve many of your most profound relational problems. Money alone will not help you discover who you are or what you should do in life. More often than not, however, many individuals deceive themselves, believing that their pursuit of money can help them solve these and other life problems. Don't believe me? You can ask the well-p...

If you've been hoping for interest rates to fall this year, I've got some bad news for you: borrowing costs will likely only go higher from here. At least, that's what we've been hearing from various Fed officials over the past couple of weeks. More specifically, these individuals have been telling us that the central bank should continue raising rates into the foreseeable futu...

Imagine receiving an award from your employer for the value that you bring to the table, but the payout doesn't come for months or even years down the road.  If you work in the tech industry, or otherwise receive a stock award from one year to the next, then you'll likely understand how exciting and at the same time, how bewildering it can be to receive what can be a significant portion...

In this episode, we’re going to talk about a key component to securing financial independence and that’s income. Now, there’s an old adage that goes, “it’s not about how much you make, but how much you keep…” that is often applied to the concept of spending and saving prudently. But, what if spending wisely and prudently managing your savings was just one part of securing your path to financial in...