Planning Your Moonshot

Louis Guajardo

Do you know what a moonshot is? In baseball, it's a homerun that is so big that it's almost unbelievable, for Elon Musk it's colonizing Mars, for us it's building a personal finance community on four pillars, growth, design, community, and transparency. What's your moonshot? Explore it with us and let us help lead the way through personal finance, business, and personal development conversations. 

  1. 10/23/2024

    Top 3 Finance Problems for Freelancers

    In this episode of 'Planning Your Moonshot,' the financial challenges faced by freelancers and contractors are tackled. Topics include strategic budgeting, establishing buffer funds, and using the 'pay yourself first' system with the 50-30-20 rule. The episode also delves into setting up multiple savings accounts, retirement planning options like IRAs and Solo 401k, and ensuring financial consistency through automated contributions. Essential tax-saving tips, including maintaining separate tax savings accounts and paying quarterly taxes, are discussed. Emphasis is placed on practical advice, resources for tax deductions, and consulting professionals for personalized guidance. 00:00 Introduction to Managing Unpredictable Cash Flows 00:42 Budgeting for Freelancers: Start with Your Lowest Earning Month 01:36 Building a Buffer Fund: Your Safety Net 04:40 Pay Yourself First: The 50/30/20 Rule 08:15 Setting Up Separate Accounts for Financial Goals 09:43 Retirement Planning for Freelancers 11:13 Understanding Retirement Accounts 11:44 Automating Your Retirement Contributions 12:28 Maximizing Contributions During High Earning Months 12:53 Determining Your Retirement Needs 13:42 Retirement Calculators and Inflation Adjustments 15:08 Long-Term Investment Strategies 16:28 Managing Your Tax Situation 18:09 Quarterly Tax Payments 19:33 Taking Advantage of Deductions 20:50 Tracking Expenses and Deductions 21:33 Conclusion and Resources ======================= Resources: 💸 Free Resources 🌔 Get Started on Your Moonshot Today!

    23 min

About

Do you know what a moonshot is? In baseball, it's a homerun that is so big that it's almost unbelievable, for Elon Musk it's colonizing Mars, for us it's building a personal finance community on four pillars, growth, design, community, and transparency. What's your moonshot? Explore it with us and let us help lead the way through personal finance, business, and personal development conversations.