Use Lots of Buckets! | Series 6.3
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A favorite concept on organizing where you're saving to make goals easier to see and even more importantly, easier to achieve! If we have just one giant, 'I want to build a ship bucket', it's hard to see where all that money's actually going to go for the various elements that we're going to need. (02:09) The goal for this bucket [short term] is to keep what you have more than anything else, including growth or interest. (02:56) The next bucket is an intermediate term bucket. And for young people, this is generally a what you would call a general or non-retirement investment account. (03:08) The last bucket is your longer term bucket, which often includes things such as retirement, which may be 401(k)s, IRAs, things like that 529 plans for college savings specifically. (04:07) Quote for the episode: "The separate buckets will make sure I have a stable account, some money was there for my next car for the next year, make sure I take those important annual vacations that are really important to stop and breathe and have fun with every year." (05:03) Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.
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