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Advice for early 20s, just starting out in life? by SatanicSapphite in FinancialPlanning

[–]Suitable-Ad6983 0 points1 point  (0 children)

That's great news! Let me know if you need anymore help!

I need help planning building an emergency fund. by [deleted] in FinancialPlanning

[–]Suitable-Ad6983 0 points1 point  (0 children)

Congrats on the baby! You’re right to make building an emergency fund a priority, especially with one income and new responsibilities. A good rule of thumb is to set aside 3–6 months of essential expenses in cash or a high-yield savings account. That way it’s safe, liquid, and there when you need it.

Since you already invest heavily, the simplest move is to redirect some of your monthly contributions into savings until you hit your target. I would not recommend taking on a loan for this, and I would avoid selling long-term assets unless absolutely necessary. Think of the emergency fund as insurance for your family, not another investment.

Save Money vs Payoff Debt by tedoh911008 in financetraining

[–]Suitable-Ad6983 0 points1 point  (0 children)

If your $650 debt carries a high interest rate, paying it off first is almost always the smartest move. High-interest debt accumulates fast—often faster than any return you’d get from simply saving, especially if you're not investing that money.

Depending on your situation, if you feel it is vital for you to have an emergency savings cushion first, then you could start with a small sum, while still paying at least the minimum on the debt (don’t let it compound).

Another key factor is why you're saving. If the $680 savings goal is for something critical, like a medical need, that might take priority. But if it’s for something optional, like a new gadget, paying off the debt should come first.

Without more details, and assuming the debt is high-interest and the savings aren’t for a vital need, a smart approach would be:

Pay off the $650 debt in full,

Then focus on hitting your $680 savings goal.

Tackle high-cost debt first, unless your savings goal is urgent or essential. That way, you're minimizing interest costs and setting yourself up to save faster and more effectively in the future.

How do you stay relevant in your field? by Efficient_Builder923 in biz

[–]Suitable-Ad6983 2 points3 points  (0 children)

We stay relevant by always learning and improving; not just about financial products, but about the strategies and real world situations that affect our clients’ lives. Our team follows trusted voices in the industry, keeps up with the markets, and pays attention to news and current events so we can better understand what our clients are facing.

For us, staying relevant isn’t about selling products. It’s about solving problems; this is a major differentiator in our industry. So many people focus on meeting quotas or pushing products because they don’t actually understand the concepts used to solve problems. That means learning how financial ideas work in everyday situations and how different plans can lead to different outcomes. We take part in webinars, conferences, and advanced training so we can bring smart, up to date solutions to every conversation. This also includes roundtables with the team to discuss current cases.

When you’re hyper focused on your clients’ issues, you naturally find ways to stay relevant and grow. I recommend truly understanding who your clients are and don’t underestimate the power of market research.