It’s time for a Friday Flight! These episodes are all about the week’s financial news and the impact on your personal finances. There are a lot of headlines out there, but we distill it down to specific takeaways that will allow you to kick off the weekend informed and help you to continue to make smart money moves. In this episode we cover some relevant and helpful stories like: free Covid tests, Roth 401k options abound, the embarrassing issue of 401k leakage, the best way boost your income, employer matches on the rise, cheapo bikes that are made to fail, higher insurance rates, the best times to travel, & the time to refinance is now!

You can’t beat the Chase Sapphire Preferred!
  • Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!

Best friends out!

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2 comments on “Friday Flight: Pay Bumps, Cheapo Bikes, & Best Times to Travel – Episode 465

  1. Michael Jan 21, 2022

    Hi Matt and Joel,

    I know you’re both huge fans of Roth contributions (as mentioned in this episode), so I’m curious what your thoughts are on the numbers run by folks like the Mad Fientist, showing that money put in a traditional 401(k) can last about 10 years longer in early retirement than money paid out from a Roth 401(k): https://www.madfientist.com/how-to-access-retirement-funds-early/.

    I hear you on the likelihood of taxes going up, but anyone aiming for early retirement won’t pay tax on most or any of that money anyway, if they’re slowly converting traditional money into Roth money in the way the Mad Fientist suggests, right?

    • Hey Michael, thanks for your question. First off, the Mad Fientist is one smart and excellent dude. PLUS, he likes good beer. So he’s a rock star in my book.

      And he makes an excellent case for traditional 401(k) contributions for folks who want to retire early. And it’s not that we’re not in favor of folks quitting work early, it’s just that we’re speaking to a different audience. A lot of HTM listeners don’t necessarily have that goal. And for those folks Roth IRA contributions likely make more sense. But I love that the Mad Fientiest goes into such detail to help folks who are specifically looking to quit work early because there are a lot of folks in that boat too. Cheers!