March Money Madness

Let's look at some of the underdogs, top seeds, and a cinderella story for March Money Madness.

Underdogs:

1. Health Savings Account: The Health Savings Account (HSA) is one of least understood and most underutilized investment accounts. It's also the only tax-free account that exists. You are able to contribute money that is tax-deferred, which can then be invested, and used tax-free at a later date for qualified medical expenses.
   

2. 9-5: Too many people are focused on side-hustles instead of earning more at their 9-5 job. A 9-5 job can be a great way to build wealth if you are consistently a top performer, ask for more, and are willing to leave for a better opportunity.

Top Seeds:

1. Paying off Credit Card Debt: You will never find a better guaranteed investment than paying off credit card debt. The financial and emotional benefits are tremendous.
   

2. Roth IRA: Everyone loves the idea of growing their money without having to think about paying taxes in the future. I am also a huge fan of this account; however, like most number one seeds, it could easily be upset by a tax-deferred account (e.g., 401(k)) in any given year depending on future tax brackets and earnings. In other words, if are currently in a 24% tax bracket and wind up in a 12% bracket in retirement, then the tax-deferred account, such as your 401(k), will likely be superior to the Roth.

Cinderella Story:

1. Crypto: The Cinderella story of 2024 has to be crypto. The approval of Bitcoin Exchange Traded Funds (ETFs), coupled with rumors of a similar one for Ethereum (ETH), has resulted in huge gains throughout the market. Bitcoin is up 55%, ETH has improved 53%, and the original favorite memecoin, DOGE, is up 61% this year.

March is a great time to take hold of the financial madness in your life and create a plan to improve your financial future.

If you are looking for a financial coach to help you with the Xs and Os of the madness, then take your first step below. For less than $5/day, Walk You To Wealth is the most affordable way to access professional help.

Disclaimer: The information in this post is provided for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. The information is intended to be educational and is not tailored to the investment needs of any specific individual.  It is also not intended to be relied upon as a forecast and is not an offer or solicitation to buy or sell any securities or to adopt any investment strategy.  The opinions expressed are those of the author.  Reliance upon the guidance and information in this presentation is at the sole discretion of the individual.