Habesha Finance Podcast

Join the Habesha Finance community today! You read the title and probably had the same reaction I did. How? What does that even mean? I know this is a crazy idea, but there are many people who have found ways to achieve early retirement and I'm going to touch on some of those ways with a little Habesha Finance twist. In this episode I will show you the strategies early retirees have used to become...

The older I’ve gotten the easier it has become to say no to certain things in life. Family comes first. Wife must agree with commitments I make work related. Be on one accord. Happy wife, happy life. Saying no right away is necessary to and the right thing to do. Delaying your no causes tension and is harder to do the longer you wait. You always have an option and a right to say no. Simply saying...

Have you joined the Habesha Finance Facebook group yet? Just answer a few questions and you're in! Saving money and building wealth requires patience and a lot of sacrifice. When we started our journey to financial freedom we became challenged with the choice of giving up some things we really enjoyed having. I’m talking about memberships and subscriptions we’ve had for years. We all get to this p...

 Generally, for all young people level term or annual renewable term will be your best life insurance option. This is because you have 20, 30+ years to get your finances straight and become self-insured. Remember, the goal is always financial independence  NOT  financial dependence. Save, invest and stay away from debt. Understand Estate Tax In 2019, estates with a value equal to or...

 I told you there are many different types of life insurance products out there right? In the beginning we discussed various temporary life insurance products.  Now we will talk about permanent life insurance. There are three main types of permanent life insurance that we’re going to cover here on a high level. First, let’s look at  whole life insurance . Whole life insurance is exa...

With so many different types of life insurance out there my hope is to give a high level overview and make it presentable here so you can choose what’s right for you and your family.  Unless you are financially independent with millions and billions of dollars to your name and no debt, YOU ABSOLUTELY NEED LIFE INSURANCE! Never buy a financial product you do not understand! What is term life insura...

Nipsey Hussle was undoubtedly legendary through all his ambitions. There are not enough words to speak on his impact in this world. We start this second season of the Habesha Finance Podcast dedicated to paying respect to Nipsey Hussle also known as Ermias Asghedom. No edits. 

In this episode, I talk about saving for college. And ways to do this outside of simply putting money in an old-fashioned bank account earning 1-2% interest over 18 years. We review 529 plans, ESA plans, UGMAs and UTMAs.  Also, there's bonus content for Georgia residents on saving for college!  For more information about the Georgia 529 plan visit: habeshafinance.com/georgia-529-path2col...

Healthcare is not exactly the easiest thing to figure out. Here I go over updates to the Habesha Finance family health coverage...sneak preview: HSAs still rock! Make sure you click below and follow the show notes so you don't miss anything. Don't forget to subscribe, rate and review! For show notes, you can head over to habeshafinance.com/26. Reach out to info@habeshafinance.com for any questions...

Financial emergencies happen to all of us and we know that. When and how those emergencies happen is another story. Here are 5 awesome reasons to have a fully funded emergency fund. Make sure you click below and follow the show notes so you don't miss anything. Don't forget to subscribe, rate and review! For show notes, you can head over to habeshafinance.com/25. Reach out to info@habeshafinance.c...

Life in the USA can be challenging for immigrants in so many ways, especially when it comes to money. Check out this financial independence guide dedicated to those who are now calling the USA home. Let this guide help you get your life back, build wealth and make a difference. Make sure you click below and follow the show notes so you don't miss anything in this guide! For show notes, you can hea...

Running can actually teach you a great deal on how to handle your personal finance. These are the lessons cross country that has helped me on my path to financial independence. For show notes, you can head over to habeshafinance.com/23. Reach out to info@habeshafinance.com for any questions or comments you may have. Subscribe to my newsletter at habeshafinance.com/sub and receive your FREE persona...

I can talk about personal finance and my successes and failures for days. Yet, for Habesha Finance to be impactful I believe there has to be some personal, brotherly wisdom that must be shared. There's so much of who we are as humans we are losing to the digital world that we have to pump the brakes. I believe that as a society we have to break away from social media and I'll tell you why in this...

Thanks to an education system that doesn’t prepare you for the real, “real world,” more millennials than ever are struggling with debt, financing way too expensive cars and neglecting to save for the future. Here are 10 tips for broke millennials to break through the walls of debt and get on the path to financial independence! For show notes you can head over to habeshafinance.com/21. Reach out to...

If you could go back and change the way you looked at money when you were 18, 21 or 25 would you? Part of your journey to financial independence is investing as early as possible. If you have any doubt on why you should invest or think you can hold off investing for when you're older, think twice! For show notes you can head over to habeshafinance.com/20. Reach out to info@habeshafinance.com for a...

There are so many myths about money that you need to be aware of. I tackle 17 money myths that in some way or another I have encountered in my life. For show transcript/notes go to habeshafinance.com/19.

I had the pleasure of chatting with a good friend of mine Salim Shukur, CEO and Founder of Shukur Motors and Shukur Transport. He has a very amazing story of how right after graduating from college he found his passion for self-employment and owning his own business. Salim saw the struggle his family and friends faced when trying to purchase a vehicle and shares with us his journey to becoming a b...

“If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” - Warren Buffett This episode is dedicated to the three rules of investing that helped jumpstart my investment portfolio in the right direction for me. Rule #1: I Do Not Invest In Single Stocks Rule #2: Know My Risk Tolerance For Where I Am Rule #3: Never Panic, Stay The Course For show not...

Einstein called compound interest the most powerful force in the universe. In this episode we cover the basics of compound interest and explore the opportunity cost with common monthly expenses. Find out exactly how much that daily latte or your car payment could really cost you. You can find in the show notes at habeshafinance.com/16 a pretty cool table that shows you the year by year progression...

We go over the 2nd free tool that we use to maintain financial control of our lives and I'm confident will help you too. What is your net worth? Net worth = assets - liabilities. Assets include the amount in the bank account, taxable and tax-advantage accounts, value of home... Liabilities include a mortgage, car note, debt, 401k loans... Personal Capital - an awesome and free net worth tracker. h...

We begin a two part series on two free financial tools that my wife and I have been using to get out of debt and gain financial control and I’m confident these two tools can help you too. Free budget apps and spreadsheet: habeshafinance.com/resources Google Budget article: https://habeshafinance.com/your-guide-to-google-sheets-budgeting Excuses for not budgeting: “Budgeting is hard.” “Budgeting re...

In this episode we explore the "why" of financial independence? I share my parents story coming to the United States of America as Ethiopian immigrants. This episode will: 1. Inspire you. 2. Show you that financial independence is for all. 3. Help you realize the impact of your choices. Figure out your "why" before you figure out your "how." Show links: For Business Insider article on high school...

We continue exploring different retirement accounts with this final episode of this 5 part series about Health Savings Accounts, HSAs. As of 2018 the maximum contributions you can make to an HSA is $3,450 for a single person and $6,900 for a family. Triple tax-advantaged: 1. Contributions are pre-tax or tax-deductible. 2. All earnings and interest are tax-free. 3. Do not pay taxes on any withdrawa...

We continue exploring different retirement accounts with this episode as we look at the SEP IRA, SIMPLE IRA, Solo 401(k) for the Self-Employed. SEP IRA - Simplified Employee Pension IRA SEP IRA available to any business of any size. SIMPLE IRA - Savings Incentive Match PLan for Employees IRA SIMPLE IRAs are available to any small business, usually with 100 or fewer employees. Solo 401(k) is a trad...

We continue exploring different retirement accounts with this episode as we look at the backdoor Roth IRA and mega backdoor Roth IRA. Open a traditional IRA, make a non-deductible contribution, and then convert that contribution to a Roth IRA. Makes sense for high income earners who aren't eligible for a Roth IRA. Strategy to have 100% of the conversion come from the non-deductible contributions c...