In this episode, Alex LaRosa discusses the importance of time in wealth building for millennials, emphasizing that starting to invest early can lead to significant long-term gains. He explains the impact of compound interest through a comparative case study of two individuals, Sarah and John, highlighting the disparity in their investment outcomes based on when they started investing. Additionally, Alex reacts to a social media video discussing unrealized losses and shares insights on tax loss harvesting as a strategy for managing investments. The episode concludes with a strong reminder of the power of time in financial growth.

In this episode, the host discusses saving strategies for high-income earners. The conversation covers common mistakes in savings, building a savings strategy, recommended savings rates per age, the importance of automation, and the concept of three buckets for savings. The host also answers frequently asked questions related to retirement savings. The key takeaways include the need to avoid holding too much cash, the importance of saving for retirement outside of a 401k, the focus on hitting savings goals rather than strict budgeting, the impact of lifestyle inflation on savings, and the benefits of splitting savings into different types of accounts.

This episode introduces the podcast and its target audience of affluent millennials. The host, Alex LaRosa, explains his qualifications as a certified financial planner and a millennial himself. He shares statistics about millennials' financial habits, including their interest in seeking financial advice, their low savings rates, their underinsurance, and their lack of financial literacy. The episode concludes with a preview of future episodes and a call to like and subscribe.

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Trailer Episode for Not Your Parents Financial Advisor.

Are you an affluent millennial looking to build long term wealth? I specialize in working with people just like you build a financial plan that encompasses investing, retirement planning, savings strategies, tax planning, and estate planning.

Find my calendar link in the show notes and schedule a free consultation today.

https://calendly.com/bluebellpwm/15min