Retirement investing, bad debt, backdoor Roth IRAs, bonds, and starting a business. If you’re just beginning your personal finance journey, this can all seem a bit complicated. Where do you invest first? What should you do with extra cash? And how do you know a financial fiduciary is genuinely looking out for your best interest? Don’t worry; you don’t need all the answers. Just tune in, and listen to what financial expert Amanda Wolfe and Certified Financial Planner Kyle Mast have to say.

It’s been a few months since we spoke to our go-to money experts. But we’ve been receiving a ton of finance FAQs in our Facebook group. So, we rounded up some of the best and got Amanda and Kyle’s take live on this episode. First, we’ll go over when to pay off bad debt when starting a business and what a “no money down” business really means. Then, Amanda and Kyle give their strong stances on if bond investing makes sense for the average FIRE-chaser.

You’ll also hear the OPTIMAL way to set up your retirement investing, which accounts are worth hitting first, and the financial order of operations you should follow to optimize your retirement planning. And try not to send your financial advisor this episode because we’ll be discussing when an advisor is and isn’t worth the money and why a commission-based fee structure could be a big red flag when deciding who to invest with. All this (and much more) is coming up in this episode!

Show Notes at:
https://www.biggerpockets.com/blog/money-394?utm_source=youtube&utm_medium=description&utm_campaign=none
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Hear Our Last FAQ Episode with Amanda and Kyle:
https://www.biggerpockets.com/blog/money-353?utm_source=youtube&utm_medium=description&utm_campaign=none
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Kyle’s Past Episodes:
How to Find the Best Possible Certified Financial Planner: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-41-find-certified-financial-planner-cfpkyle-mast?utm_source=youtube&utm_medium=description&utm_campaign=none
Retirement Planning During (and After) the Coronavirus: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-118-kyle-mast?utm_source=youtube&utm_medium=description&utm_campaign=none
A Personal Finance Masterclass:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-kyle-mast?utm_source=youtube&utm_medium=description&utm_campaign=none
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Amanda’s Past Episodes:
From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes: https://www.biggerpockets.com/blog/money-329?utm_source=youtube&utm_medium=description&utm_campaign=none
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How MLMs and Pyramid Schemes Trap Average Americans:
https://www.biggerpockets.com/blog/money-369?utm_source=youtube&utm_medium=description&utm_campaign=none
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Find a Fee-Only Financial Advisor:
https://www.xyplanningnetwork.com/
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Connect with Amanda:
Instagram: @shewolfeofwallstreet or https://www.instagram.com/shewolfeofwallstreet/
Website: https://shewolfeofwallstreet.com/
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Connect with Kyle:
Twitter: @financialkyle or https://twitter.com/financialkyle
Website: https://www.kylemast.com/
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Connect with Mindy on BiggerPockets:
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode #394

00:00 Intro
01:42 Money Moment
02:16 Pay Off Debt Before Starting a Business?
15:32 When to Bet on Bonds
21:19 Direct Indexing Explained
23:08 How to Prioritize Retirement Accounts
26:26 Can I Use My HSA for This?
29:51 Is a Financial Advisor Worth It?
38:54 How to Set Up a Backdoor Roth IRA
45:18 Connect with Amanda and Kyle!