Classics (6/1/25-12/1/25)

Question: I am 31 years old, married with 2 children. I feel like we work hard, make good money but have nothing to show for it. I am tired of being broke. Where should I start?

Thank you for the question! The majority of people do not put the time and attention needed into their finances hence why the majority of people never achieve financial security let alone financial freedom. You have leveled up and are now conscious about money and interested in how it works. Let's dive in!

Step 1: Sit down with your spouse and build a budget.

• List all your monthly expenses, EVERYTHING YOU SPEND MONEY ON.

• List all your monthly net income sources and amounts, MONEY THAT GOES INTO YOUR BANK ACCOUNT

Thanks for the great question!

Assuming you invested $1,000 into an S&P 500 index fund (let's use VOO) in November 2015, your $1,000 today (November 2025) would be worth $3,846, an annual return of approximately 14.47%.

$2,846 is your profit.

There are many investment vehicles you could have put that $1,000 into. Some would have gained a much higher return; others you may have lost your entire investment.

• $1,000 of bitcoin purchased 10 years ago would be worth $496,927 today (8/1/15 - 8/1/25).

Thank you for the question! President Trump recently mentioned the possibility of offering 50-year mortgages. This news made headlines and received a mixture of feedback. The President stated it would be a good idea so more people could afford homes due to lower monthly payments.

Why I think it's a horrible idea:

1) Offering a 50-year mortgage does not lower the price of homes which is the real issue at hand. If the demand for homes rises due to this new mortgage option, then prices will rise, the exact opposite result of what new home buyers want.

2) Offering a 50-year mortgage does not fix people's money problems. Most people (not all, some just have bad circumstances and a tough life) suck at managing money, hence why they struggle to afford homes.

3) When you mortgage a home, you do not fully own it, the bank also owns a portion…

Reader Question: I just started my first job, and my salary is $65,000 per year. How much should I contribute to my 401k? My employer contributes 12% of my salary to my 401k if I contribute a minimum of 8%.

Dear Johnny, congratulations on your first job! Thanks for the great question. The 12% contribution to your 401k from your employer is a phenomenal bonus to a solid first job salary. Obviously, you want to be putting in 8% to max out your employers 12% match. How much you contribute after that is entirely up to you. The 2025 employee contribution limit is $23,500 and the employee + employer contribution limit is $70,000. So, the max you could contribute is 36% of your pretax salary based on your current salary of 65k. I recommend saving 6 months of living expenses then review your monthly budget and max out your contribution…

Dear Johnny, thank you for your question! First off congrats on graduating college, education is a key piece to long term success.

Your question is regarding if you should purchase a new car after graduating from college, I will give my personal opinion below. This is not a recommendation, just my opinion.

There are a bunch of questions you need to ask yourself.

• How much total debt do you have? (include all student loans, credit cards, everything)

• Do you have a job? How much is it paying?