cover of episode Earning $400,000 and Still Drowning in Debt

Earning $400,000 and Still Drowning in Debt

2024/11/8
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Brown Ambition

Chapters

Regina asks whether she should roll over her old 401k to an IRA or keep it in her new employer's plan. Mandi discusses the pros and cons of each option, emphasizing the importance of keeping track of your retirement funds and considering investment options.
  • Rolling over to an IRA gives more control over investment options.
  • Keeping funds in employer's plan simplifies management but may limit investment choices.
  • Long-term planning should include a strategy for managing multiple retirement accounts.

Shownotes Transcript

Hey BA fam! In this episode of the BAQA, Mandi talks managing 401k rollovers and dealing with credit card debt, even as a high-earner. We've got you covered with the best strategies for consolidating debt while maintaining financial stability. Plus, learn why budgeting is essential, even for high-income households. Credit card debt can accumulate quickly, even for high earners, so understanding the root cause of financial issues is crucial. As always, Mandi breaks down everything you need to know about managing your money and keeping track your financial responsibilities.

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