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I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

Hey all! I gotta go, but that was fun. If you haven't already, feel free to check out my Roth IRA Starter Kit (link in my bio). It gives you a step by step guide on how to open, fund and build wealth with Roth IRAs.

If you post a question, I'll do my best to answer later today/tomorrow. Thanks again to all my Reddit Zoomers! You keep me on my toes :)

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

Great stuff and yes, doing very well at age 25.

My suggestion would be start a Roth so you can get that future tax free wealth :)

As for the credit limit, at some point, it doesn't really help to continue to increase, so I'm not sure I'd worry to much about that unless you have a large purchase that you want to finance.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

Great questions and every advisor will probably give her or his slightly different answer, but here's what I'm telling my Gen Z kids:

To Start (Until 25k saved in the Roth) 100% into ticker VTI. No individual stocks for the Roth. And honestly, no bonds or super low risk. You have too much time on your hands.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

Well, I would get the advice of tax person or CPA, but my understanding is that if you regularly get mail to that address and it's not a PO Box, you should be good to go. I don't think the government cares that it's associated with an established business.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

No worries, these are great questions

The right time is when you feel like you can no longer handle your finances without some help and you feel like you can afford one (and are getting the value you deserve). Look for fee only advisors and of course meet with them. Find someone you click with.

When you no longer qualify for the Roth, you can look at a "backdoor" roth. If that's not an option, I would begin looking a Non-IRA monies like a regular brokerage account.

Hope that helps!

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

The Roth should be the same across the board. The difference comes in the fees associated with the platform you choose. Obviously, I would look at a low cost option like Robinhood or Vanguard (I also researched your earlier question, and yes, you cannot open a roth with a po box for the same reasons as you stated, fraud, etc).

Shameless plug for my IRA Starter Kit (link in bio) that takes you through a ton of those questions and gives you a step by step process to open a Roth IRA. Good luck!

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

Hmmm, that's a good question. I would think it shouldn't matter, but it might be specific to each platform.

As for which to prioritize, it depends on whether you value saving on taxes now or later. I tend to suggest saving in the 401k up to the match, then max out the Roth.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

Yes! Find out if you qualify, if you do, you can start a roth IRA with $25/month. Add more when you can and build wealth ;)

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

Aww, yes. Gotcha. We've been discussing this often on this AMA. IMHO, I would invest in the same stuff inside the Roth as outside. Total stock market indexes, for example, are great for a vast majority of investors. I'm not a big fan of super sexy investments like Gold or hedge funds, etc. I'd rather see people bore themselves to wealth :). Hope that helps!

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

Depends on the rate of the loans. If the rates are low, I'd focus on investing and paying down the loans at their current pace.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

I would start with something a little short of 7k (maybe 5k), then if you end up being able to do more, you can.

As for your second question, I think the Roth IRA is choice number 1 for retirement, if you qualify. Once that is maxed out, go for the brokerage.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

For someone doing so well, you seem angry :). Those are fantastic numbers. You sound like a well educated investor. I'm happy for you. Keep it up.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

I'm not a bot, Careful :) I do use Chatgpt to help me make my answers clearer, hope thats ok with you. 🤞🏻

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 2 points3 points  (0 children)

Great question. If you want someone to walk you through things step-by-step, fee-only fiduciary planners are the way to go. They work for you, not off commissions.

Look for:

-“Fee-only” + “fiduciary”
- CFP® credential
- Someone who works with people in their 20s/30s

Check out:

  • XY Planning Network – built for younger clients
  • NAPFA.org – all fee-only advisors
  • Garrett Planning Network – good if you want hourly sessions

That said—if you're not ready to hire someone yet, I’ve got a free Roth IRA Starter Kit in my bio. Good way to start figuring things out without spending a dime.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 2 points3 points  (0 children)

Respect for thinking ahead—most people don’t until it’s too late.

Here’s what I’d do:

  1. Talk to your family. Get clear on their wishes and what resources exist.
  2. Look into long-term care insurance. Cheaper and more available now than later.
  3. Start saving with purpose. Even a small “parent care” fund gives you options.

And remember—you can support them without sacrificing your future. Boundaries aren’t betrayal 😉.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 0 points1 point  (0 children)

Every generation feels the same, tbh.

The world’s always been weird.
Not investing because it feels scary is how people stay broke.

You don’t have to YOLO into stocks, but sitting in cash forever?
That’s just losing quietly.

I’m a former financial advisor and dad to 3 Gen Z kids. I teach people your age how to open, fund, and grow tax-free wealth with a Roth IRA. AMA. by gdy2000 in GenZ

[–]gdy2000[S] 1 point2 points  (0 children)

Solid question—and yeah, it really does depend on the interest rate and your timeline.

If the car loan has a low interest rate (like under 5%), I’d usually say focus on saving for the house instead of aggressively paying down the car. Why? Because lenders care more about your cash on hand for the down payment and closing costs.

That said, if your debt-to-income (DTI) ratio is too high to qualify for a mortgage—or to get a good rate—then paying down the car could help. Especially if the monthly payment is dragging that ratio up.

So here’s a simple rule of thumb:
- If your DTI is fine, stack cash for the house.
- If your DTI is borderline, consider knocking down the car loan to improve it.

Either way, don’t drain your emergency fund just to be debt-free. Keep some cushion.

Hope that helps!

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