For our “Big Give” segment this month, we are featuring Together We Rise, a nonprofit organization dedicated to transforming the way youth navigate through the foster care system in America. I’ve invited the Donor Relations Manager, Steven Macias, to tell us more about the organization.
We’re also going to discuss the state of foster care in our country.
My wife and I are expecting our first child this year, so it will be a true test on how we work around the new costs we will be accruing. I am on pace to pay off a student loan in 3 years and I don’t want to break that. We max out our 401k and we pay extra on our mortgage and my student loan each month.
I don’t want to lose this momentum we have — we both promised ourselves we would never decrease our 401k contributions because we value investing in our future too much. I guess I’m divulging all of this to ask …
What do you advise so I don’t lose momentum when the baby comes?
Over the past two years when I run into someone and tell them about my podcast, one major question that continues to come up is “What have been your biggest takeaways?”
It’s a great question.
It’s the whole reason I started the show. I wanted to learn from some incredibly smart, family-centric, wealthy, philanthropic, independent, in-control of their future rock stars that would motivate me to give my family the best life possible. And it’s worked.
It’s important to concentrate on our own financial situations, but as parents, we can’t forget to teach our kids the principles of financial literacy as well. These lessons can be taught by instituting an allowance program or chore and reward system.
John Lanza, the author of The Art of Allowance, joins us on the show to talk about how we can develop a system like this. The earlier parents start, the better off their kids will be.
As we start to make progress here, John has a key piece of advice for the parents out there: Don’t pair allowance with chores.
On any given day, there are around 438,000 children in foster care in the USA. Almost a half million kids without a forever home…
That is a major issue in our country and some parents are taking action to help.
Today, we’re chatting with Jillian Johnsrud on why she and her husband decided to become foster parents to 4 children in addition to becoming parents to two biological kids. We’re also going to discuss how she and her husband embraced minimalism and achieved financial independence in their 30’s.
When you truly become intentional about your actions, there’s little you can’t accomplish.
The next member of the Young Millionaire’s Club is walking, talking proof that good things come to the intentional.
Juan from A Journey to FI joins me today to discuss how taking some short-term sacrifices in his life lead to some long-term financial wins for his family. At a $1.3 million net worth in his late 30’s, Juan is charging toward financial independence and not stopping to look back.