Nicole Lappin
speaker
4,192 appearances
114 recordings
2 series
first heard Nov 2024
last heard 9 Dec
Nicole Lappin’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Nov 2025 with 2.
Appearances
And do you have a retirement account set up?
So great. Your 401k contributions are coming out, you know, before you pay taxes. Do you have a match for that 401k?
Have you ever bumped up your 401k contribution? Are you putting the max in there?
Okay. And what are you thinking about bumping it up to?
I mean, if we think about it as we get older, it makes sense to bump up our 401k contributions a little bit more as we get closer to retirement. So if you can bump it up as much as possible, even a percent or half a percent, it might not seem like a lot right now, but over time, even a small increase can make a massive difference. And You know, I think the key here is to automate everything.
So you set it and forget it. When you get a raise that hits your account, it's already going into savings and debt payments and fund money. It's really about setting it up once, once a year, and then checking it again to see if it still makes sense. And that way you don't even have to think about it. How does that sound?
Okay. So let's use this framework and talk about some of your long-term financial goals. So with the 50-30-20 framework, if we like that, again, all movable. And if we see how your allocation fits into that framework, sounds like it's feasible. It sounds like it makes sense.
And if you take a look at when you want to retire and then add up how much you'd have by that retirement age, you would be saving $1,400 a month.
and you know your 401k is invested so the goal for that is to grow over time if you see that after adding that you wouldn't have saved what you want to retire on then you might want to change your allocation for your general spending plan the euphemism for budget to try and make your goals so i'm sorry to give you homework but have you ever played with the compound interest or retirement calculator yes i have oh have you done it recently
And how did it look?
Okay.
Okay. And was that when you decided to bump it up or was that after you bumped it up?
Okay. So would something like a 50, 10, 40... feel feasible to you at this point where, you know, 50% goes to the necessities, but then, you know, 10% to the fun stuff and then 40% to savings to try and catch up a little bit.
Yeah. And I think where you put your savings is important too. Where do you have that 1500 in savings right now?
4.1.
That's not bad. And how long have you been in a high yield savings account? It's one of the easiest things we can do to bump up the interest.
And so if we take a look at some of the interest that you're getting in your high yield savings account, do you feel like seeing that add up is making you more excited about making more in interest because once you are making more either through passive income or an increase in salary, then some of these percentages can change.
But I think having a jumping off point is important, but first sort of getting in that zone is important to have just an overall idea of where this money is going and you can assess from there. What does that sound?
How are you feeling? I feel like I've been telling you a lot of homework, which I don't want to give you, but I think that your future self will thank you.
You know, we talked about a bunch of these numbers and feeling short on retirement. That might feel stressful. It's a stressful time in the market. When you think about this overall spending plan, does it make you stressed or does it make you hopeful?
Showing 1021–1040 of 4,192 · page 52 of 210
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