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Small Step Finance | Money Coach

@smallstepfinance

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💰 Money Coach helping families become millionaires
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When Jackie first came to me, she had a solid foundation—an impressive career in aerospace engineering and a growing Roth 401(k). But she needed a strategic roadmap to maximize her earnings, manage her spending, and reach her long-term financial goals. We began by reviewing her current setup: Jackie already had $20k in an emergency fund, which is excellent for peace of mind and handling unexpected expenses. She had also contributed $20k to her Roth 401(k), where her company matched 6%—giving her an incredible start on tax-free growth. We worked out a plan to ensure she consistently maxes out her Roth 401(k) each year. By doing this, she’s now on track to reach an estimated $7.3 million in investments by age 60. With a projected annual income of $292,000 (most of it tax-free!), she’s secured a strong financial future. To maximize Jackie’s financial success, we focused on a few key areas: Streamlined Cash Flow: With her $150,000 income, we built a budget that balances her expenses and sets aside 50% of her income for savings and investments. She’s now building wealth while enjoying life. Tax-Efficient Savings: We explored tax-advantaged options like a Health Savings Account (HSA) and set up a high-yield savings account for her $20,000 emergency fund to earn better interest. Taxable Brokerage Account: Since Jackie is already maxing her Roth 401(k), we added a taxable investment account for more growth and flexibility. Investment Strategy: We created a diversified portfolio using low-cost index funds across her accounts to capture long-term growth. Adaptable Planning: We built flexibility for future life changes and set financial milestones to keep her motivated. With these steps, Jackie is not only on track to become a millionaire but is also confidently building a secure, flexible future. Follow @smallstepfinance to learn ways to build wealth. taken in Minneapolis, Minnesota by @smallstepfinance
8
2 years ago
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Meet Katie & Ron! At 25, newly married, they’re already setting up a solid financial future by living smart and investing strategically. 💪 🌟 Together, they earn ~$200k annually, but they’re building wealth on a unique plan: living on Ron’s income and using Katie’s entire $125k salary to invest and pay down debt. Here’s how they’re making it work: • Investing Power Moves: Katie is contributing $23k to her solo 401(k), plus another $20k in employee contributions, to set up their future. Ron’s maximizing his workplace 401(k) with $23k, along with a $3k employer match. With this strategy, they could have $1 million by age 35 — and a projected $14.8 million by age 59.5! 💸 • Debt-Free Focus: Katie is also putting a chunk of her salary toward paying off $60k in student loans within the next 5 years, all while they continue to build their investments. 📉➡️📈 • Budget Game Plan: By keeping their lifestyle costs low and sticking to Ron’s income, they’re able to fast-track their financial goals. Katie’s salary goes 100% toward investing and debt repayment, putting them in control of their financial future. Katie & Ron are showing how powerful it can be to live simply and invest wisely. Their story proves financial freedom is achievable with a disciplined plan! 🚀 Comment “HELP” to learn how you can organize your investments & money to build your wealth or DM me any questions you have on your individual financial plan. Follow @smallstepfinance Follow @smallstepfinance Follow @smallstepfinance taken in Minneapolis, Minnesota by @smallstepfinance
0
2 years ago
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🚨 Investing Plan for a 25-Year-Old Couple 🚨 This couple earns $115k annually (after taxes) and just paid off their student loans! Now, they’re ready to make their money work for them. Here’s how they’re using the 50/30/20 Rule: 💸 50% Needs: Rent, food, car, etc. 🎉 30% Wants: Fun stuff – travel, dinners, hobbies. 📈 20% Savings/Investments: Building future wealth! Here’s their plan: 💰 $14k in Roth IRAs (tax-free growth 🌱) 💰 $5k in a pre-tax 401(k) (boosting retirement 💪) 💰 $4k to an emergency fund (for those unexpected moments 🛟) The best part? By age 59.5, they could have $4.1M, and by 65, $6.4M! 🌟💰 Starting young is 🔑. Small steps now = BIG results later! 🚀 Want help? You know where to find me! Follow @smallstepfinance to learn how to build wealth #Investing #FinancialFreedom #WealthBuilding #MoneyGoals taken in Minneapolis, Minnesota by @smallstepfinance
5
2 years ago
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What if you invested $625 every month? That’s $7,500 a year. It may not feel like much at first. But here’s what can happen over time: 2026: $7,500 2031: $57,867 2036: $138,984 2041: $269,623 2046: $480,019 2051: $818,863 2056: $1,364,576 Here’s the part most people miss: You only put in $375,000. The other ~$990,000 comes from your money growing. That’s compound growth. Your money earns money. Then that new money earns money too. And with a Roth IRA, qualified withdrawals in retirement can be tax-free. You don’t need to be rich to start. You need time, consistency, and patience. $625 a month could change your future. taken in Minneapolis, Minnesota by @smallstepfinance
1
2 months ago
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A $10,000 raise can change your life. 💰 But what you do with it matters. If Jake spends it, he gets more things today. 🛍️ If he invests it, that money can grow for decades. 📈 That’s the power of compound growth. Your money can make money. And then that money can make more money. You don’t have to invest every raise. But if you invest part of every raise, you could build serious wealth over time. 💪 The goal isn’t to never enjoy your money. It’s to make sure your future self gets some too. ❤️ Follow @smallstepfinance for simple ways to build wealth. 🚀 taken in Minneapolis, Minnesota by @smallstepfinance
1
2 months ago
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Most people think becoming a millionaire requires a huge income. It doesn’t. If you invest $625 per month into a Roth IRA and earn long-term market returns, here’s what your account could look like: 📈 2026: $7,500 📈 2031: $57,867 📈 2036: $138,984 📈 2041: $269,623 📈 2046: $480,019 📈 2051: $818,863 📈 2056: $1,364,576 Here’s the lesson most people miss: You only contributed a fraction of that balance. Roughly $1.1 million came from your investments growing over time—not from putting in more money. And because it’s a Roth IRA, those qualified withdrawals can be completely tax-free in retirement. The biggest mistake I see isn’t picking the wrong investment. It’s waiting to get started. Time is the one thing you can never get back, and it’s also the most powerful factor in building wealth. Save consistently. Stay invested. Let compounding do the heavy lifting. 💬 How old were you when you opened your first investment account? If you haven’t yet, what’s stopping you? taken in Minneapolis, Minnesota by @smallstepfinance
5
3 months ago
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Most people think retirement starts at age 59½ because that’s when you can access a 401(k) without penalties. Not true. Here’s how one 40-year-old couple could retire at 55: ✅ Current 401(k): $350,000 ✅ Invest $3,000/month into a taxable brokerage account ✅ After 15 years: about $977,000 Instead of touching their 401(k), they can use the taxable account to generate roughly $85,000 per year in tax-free cash flow by selling investments strategically and using their cost basis. Why does this matter? Because retiring early isn’t just about how much you save—it’s about where you save. A taxable brokerage account can become the bridge that gets you from early retirement to the day you can access your retirement accounts. Too many families put every extra dollar into retirement accounts without realizing they’re locking up their money for decades. The goal isn’t just to build wealth. The goal is to build freedom. 💬 What age do you want to retire? Let me know in the comments. taken in Minneapolis, Minnesota by @smallstepfinance
8
3 months ago
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Meet Sarah. She’s 30 years old and earns $85,000 a year. When we first talked, she felt like she was doing everything right—but her money still felt chaotic. She had: ❌ Money sitting in a checking account earning nothing. ❌ No clear budget. ❌ Retirement accounts she barely understood. ❌ Savings goals that never seemed to happen. So we got organized. ✅ Built a simple monthly budget. ✅ Created a 6-month emergency fund. ✅ Automated her bills and savings. ✅ Increased her 401(k) contribution to 10%. ✅ Made sure she captured her full 6% employer match. ✅ Invested everything in low-cost S&P 500 index funds. The result? She’s now on pace for: • $234,000 by age 40 • $860,000 by age 50 • $2.5 million by age 60 • $4.3 million by age 65 She didn’t need a higher income, stock-picking skills, or a second job. She just needed a plan and a few small steps in the right direction. That’s how ordinary people become millionaires. taken in Minneapolis, Minnesota by @smallstepfinance
0
4 months ago
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8. Increase savings every time you get a raise 9. Review your insurance once a year 10. Have one monthly money date with your spouse 11. Create a side income stream 12. Avoid lifestyle inflation 13. Keep one year of deductibles in cash 14. Update your net worth every quarter 15. Increase savings every time you get a raise Most people try to get rich overnight. Wealth is usually built one small step at a time. taken in Minneapolis, Minnesota by @smallstepfinance
0
4 months ago
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He was 22. First real job. $60K salary. He reached out because he was confused. No one in his family had ever invested before. Not his parents. Not his grandparents. Like most Americans… money just got spent, not built. He said: “I don’t want that to be my story.” So we started simple. Step 1: Set up the 401k I walked him through it step by step. * Found his 401k account * Enrolled in the plan * Made sure he got the 6% company match (free money) That alone was a big win. Step 2: Contribution choice We talked about pre-tax vs post-tax. He chose post-tax (Roth style contributions). Why? * Pay taxes now while income is lower * Let money grow tax-free * No guessing what taxes look like later in life Step 3: Invest in index funds Then we got him out of cash and confusion. We chose: * S&P 500 index fund * Low fees * Broad market exposure No stock picking. No guessing. Just owning the whole market. Step 4: Turn on auto dividend reinvestment This is where it started to click. * Every dividend gets reinvested automatically * No cash sitting idle * Compounding starts working quietly in the background He didn’t need to “do” anything The shift At first, it felt small. $400/month. A few clicks in a 401k. But here’s what changed: He realized he wasn’t just saving money. He was changing his family’s future. No more starting from zero every generation. No more “just getting by.” Now there’s a foundation being built. What it becomes If he stays consistent: * He can reach $1M+ before retirement age * And $4M+ over time (with compounding) All from small, steady steps. Most people never get this guidance. They just guess. He didn’t. He learned the system early. If you want to learn how to set up index fund investing the right way, follow this page. We break it down step by step. No hype. Just small steps that build real wealth over time. taken in Minneapolis, Minnesota by @smallstepfinance
0
4 months ago
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A President mentions a company. The stock jumps. Social media explodes. Everyone wishes they had bought sooner. This is exactly why I invest in index funds. I don’t know which company will get the next government contract. I don’t know which CEO will make the next big announcement. I don’t know which stock will be the next NVIDIA, Palantir, or Dell. And I don’t have to. When you own an S&P 500 index fund, you already own hundreds of America’s largest companies. If one company wins, you benefit. If another company becomes the next big thing, you benefit. If the market changes, your portfolio adapts automatically. Trying to predict the next stock winner can make for great headlines. Owning the entire market is how many ordinary people build extraordinary wealth. That’s why I buy index funds and keep investing every month. Simple beats complicated more often than people think. Follow. @smallstepfinance by @smallstepfinance
4
4 months ago
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Don’t let society fool you… Follow @smallstepfinance to learn how to build wealth. taken in Minneapolis, Minnesota by @smallstepfinance
2
4 months ago
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