Devora Krasnianski of Adai Ad talks with Dovid Lieblich, CFP, EA about what newly married should know about building their financial future.
(slides and other related resources www.adaiad.org/financial-future)
- Introduction
- About Dovid Lieblich and his story
- Newly marrieds have the best opportunity to forge a path for financial success
- It's not about how much you make, it's how you use your money (costs of living)
- "Pay yourself first". Save first then budget your expenses.
- How much to save
- Saving for retirement (even in your 20s!)
- Emergency fund
- Saving for something specific (ex: trip, Bar Mitzvah)
- Have separate accounts
- Budgets/ spending plans (use debit cards, pay credit card weekly)
- Understanding credit cards
- "Get rich quick" schemes are very risky
- Mistakes young people make
- Life insurance
- Questions answered (more about credit cards/ credit reports)
- Savings accounts vs Bonds
- Paying taxes before maaser, before saving
- How to contact Dovid
- Traditional IRA and Roth IRA
- Quick overview of investing
- Final Thoughts