096. 24 minutes of advice if you want to be financially free in 2025

19/08/2024 24 min

Listen "096. 24 minutes of advice if you want to be financially free in 2025"

Episode Synopsis

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode of the LearnLikeaCPA show, we're diving into what we call the "Financial Freedom and Money Flow Roadmap." We break down a strategic approach to achieving financial independence by leveraging earned income, passive income, and smart investing. You'll learn how to funnel your earnings from a W-2 job or business into real estate, use tax strategies to minimize your burden, and optimize your investment portfolio for long-term gains. We're covering things like: Understanding the "Money Flow Roadmap" and its four buckets of income Transitioning from earned income to passive and portfolio income Utilizing taxable brokerage accounts to get better returns Strategies for minimizing taxes on rental income and capital gains The importance of Roth vs. traditional retirement accounts in your financial planTimestamps:00:00:00 Intro00:03:15 Earned Income and Its Limitations00:05:21 Transitioning to Passive Income00:09:00 Using Taxable Brokerage Accounts00:10:00 Portfolio Income and Tax Strategies00:13:04 Roth vs. Traditional Retirement Accounts00:24:12 Leveraging Real Estate Losses to Offset GainsWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.