The Waterfall Strategy: Which Financial Buckets to Fill First on Your FI Journey (Ep.07)

CoastFI Couple

In today’s episode, Yana and Matt dive into the essential steps of financial planning, breaking down the critical "order of operations" when it comes to managing savings and investments on your path to Financial Independence. Which bucket should you fill first? From building a strong emergency fund and taking full advantage of employer retirement contributions, to navigating the complexities of HSAs and Roth IRAs, we outline each step.
We also explore strategies for automating your retirement savings and making the most of low-cost index funds to grow your wealth efficiently. Plus, Matt shares his personal journey, offering insights into common mistakes and pitfalls to avoid along the way.
Join us for an episode packed with actionable advice, expert tips, and valuable resources to help you and your partner work together toward achieving Financial Independence. It’s time to take control of your financial future—one bucket at a time!
05:19 Take company match; it's essentially free money.
06:56 Find low expense ratio index funds, ideally 0.04% or less.
12:24 HSA: Best retirement account, triple tax advantages.
17:55 Max out Roth IRA; invest funds wisely.
22:26 Few Americans maximize 401(k) contributions; prioritize them.
28:36 Prioritize retirement savings over 529 college savings to ensure financial security and avoid burdening children.
32:04 Building Bridge 4 is a long, boring slog. Community is essential.

TOOLS WE LOVE AND USE
For Budgeting: Qube Money - Use code “COAST” to get 2-months off the Premium or Family plan when you create an account. Stop stressing about your spending. This is THE tool to implement financial health.
For Net Worth Tracking: Empower Personal Dashboard
For Daydreaming: Wallet Burst CoastFI Calculator
CONNECT WITH US:
Website: https://coastficouple.com
Instagram: @coastficouple
Contact us: [e-mail]
DISCLAIMER:
Heads up, friends! This show might include affiliate links or partnerships where we earn a little something—whether it’s cash, commissions, or cool products. Rest assured, the opinions here are 100% ours and not influenced, reviewed, or approved by advertisers. Remember, we’re here to entertain and share our journey, not to give professional advice. For the serious stuff, consult a pro!
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