Welcome to "Low Income, Rich Life," the podcast that helps you prepare for a secure and fulfilling retirement, even on a limited income. I'm your host, Kevin Bass. Each week, we'll explore practical tips and strategies for getting out of debt, lowering expenses, living a simpler life, and finding true contentment.
Imagine being ready for life's curveballs without draining your wallet. That's the promise we explore today as we unravel the secrets to stockpiling essentials on a budget. Through personal stories like managing the saline shortage as a surgical assistant, we delve into the power of preparation. Learn how to gradually accumulate a six-month supply of necessities by simply adding a few extra items during your routine grocery trips. This episode introduces you to our practical stockpile workbook, offers tips for those who'd rather not be bogged down by spreadsheets, and provides creative ways to ensure your pantry is always ready for anything from a natural disaster to a supply chain hiccup.But that's not all. The journey to financial peace of mind doesn't stop at stockpiling. We tackle the broader topic of maximizing your resources, emphasizing time management as the key to financial success. Join our vibrant community on Facebook to keep the conversation going, and don't forget to check out our website for additional resources and show notes. Whether you're planning for retirement or just starting to think about your future, let's explore how to craft a prosperous and joyful journey without breaking the bank, all while keeping things light and informative.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
10/16/24 • 12:33
Imagine a life where unexpected expenses no longer throw you into a financial tailspin. That's what we're exploring on this episode of Low Income Rich Life. Join me, Kevin, as we unravel the secrets to building an emergency fund—even on the tightest of budgets. I share my personal journey of financial transformation, highlighting the small, practical steps that helped me break free from the paycheck-to-paycheck grind. From the power of automating savings to the liberation that comes from cutting unnecessary expenses, discover how you too can create a financial cushion that keeps debt at bay.But there's more: we introduce the transformative concept of aging your money. Learn how using last month’s income to pay for this month’s expenses can revolutionize your financial stability, reduce stress, and set the stage for debt elimination. Whether it's tackling debts using the snowball method for a psychological boost or the avalanche method to save on interest, this episode is packed with actionable strategies and real-life success stories. Our mission is to empower you to take control of your finances and embark on the journey to financial freedom and peace of mind.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
10/6/24 • 18:40
Ever feel like managing your money is like trying to hit a target while blindfolded? What if I told you there's a way to remove that blindfold and aim with precision? This episode is all about mastering the art of setting SMART financial goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. We explore why both long-term and short-term goals, like saving for retirement or paying off credit card debt, can transform your financial health. Picture your finances with a GPS: clear, directed, and purposeful.Join us on Low Income Rich Life as we break down how to crush your financial aspirations with practical tips and a bit of humor. We discuss setting precise objectives like saving $10,000 for a house down payment instead of harboring vague dreams of wealth. We'll share our special SMART goals worksheet, making goal-setting as easy as pie. Whether you're nearing retirement or just starting to plan, this episode will help you navigate the journey to a brighter financial future without breaking the bank.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
9/29/24 • 13:34
Think you need a million dollars to retire? Think again! In this episode of Low Income Rich Life, we’re debunking the biggest retirement myths that have been causing you sleepless nights. Tune in as we break down why the million-dollar retirement goal is more of a scare tactic than a necessity and how your personal circumstances greatly affect your retirement needs. We'll also reveal why putting all your faith in Social Security could be a financial misstep and how relying solely on it might leave you short of funds.Join us for a myth-busting session where we explore various ways to boost your retirement fund without breaking the bank. From leveraging a 401k or IRA to considering side hustles, we'll arm you with practical strategies to ensure a secure and fulfilling retirement on a limited income. We’ll also touch on the benefits of delaying Social Security until age 70 for larger monthly checks. So grab a cup of coffee, sit back, and let’s navigate the path to a brighter, stress-free retirement together!Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
9/22/24 • 13:19
Ever wondered how aging your money can create long-term financial stability? In this episode, we dive deep into using last month’s income to cover this month’s expenses, helping you get ahead by paying bills in advance and stocking up on essentials to build a stress-free financial buffer. You’ll learn actionable strategies, like paying utility bills months ahead, and leveraging platforms like Walmart.com, Costco, Sam’s Club, Boxed.com, and Amazon Subscribe and Save to stretch today’s dollars and cover tomorrow’s needs.We also explore the transition from effective financial management to a fulfilling retirement—no matter your income. Discover how time, not just money, plays a crucial role in making the most of your golden years. Tune in for a roadmap that balances living well now while planning for a secure and joyful retirement.Stay connected by subscribing, rating, and reviewing our podcast. Visit lowincomerichlife.com for additional resources and join our Facebook community for ongoing tips and inspiration. Let’s empower each other to achieve financial peace and enjoy the journey to a rich, fulfilling retirement!Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
9/15/24 • 10:43
Ready to build a financial safety net that can handle life’s surprises? In this episode, we dive into the essential steps to creating an emergency fund—starting with just $500. Whether you’re dealing with debt or simply looking for a way to get ahead, starting small can make a big difference. From there, you’ll learn how to grow your fund to cover 3-6 months of living expenses.I’ll walk you through practical strategies like automating your savings, cutting non-essential costs, and leveraging windfalls (like tax refunds or bonuses) to give your fund a boost. Plus, I’ll introduce you to my Emergency Fund Tracker, a simple tool designed to help you stay on track, set realistic goals, and monitor your progress.Discover why keeping your emergency fund in a high-yield savings account is a game changer, and get tips on avoiding the temptation to dip into it for non-emergencies. If you’re just starting out or juggling debt, find out why building up that initial $500 can help prevent financial setbacks.Finally, don’t go it alone! Join our Emergency Fund Challenge and be part of a community committed to building a secure financial future together. We’ll support each other, share progress, and celebrate wins along the way.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
9/8/24 • 11:59
Have you ever wondered if it's too late to start saving for retirement? Or perhaps you're curious about the most effective ways to build a retirement fund from ground zero at any age? This episode of Low Income Rich Life promises to equip you with the knowledge and strategies needed to establish and grow your retirement savings, regardless of your current financial situation. We break down various types of retirement accounts, such as traditional IRAs, Roth IRAs, 401(k) plans, SEP IRAs, and Simple IRAs, each with its unique advantages and potential drawbacks. Understanding these options will help you tailor your retirement planning to your individual needs, ensuring a secure financial future.Join us as we share practical, actionable tips to boost your retirement savings. From automating your contributions and reducing debt to utilizing tax-efficient investment strategies and maximizing employer contributions, we've got you covered. We'll also discuss the advantages of Health Savings Accounts (HSAs) for tax-efficient saving and planning for healthcare costs in retirement. Whether you're in your 20s, 30s, 40s, 50s, or closer to retirement, this episode offers valuable insights to help you take control of your financial future and enjoy your golden years with peace of mind. Don't miss this comprehensive guide to building a retirement fund from scratch, tailored for anyone at any stage of life!Read the full blog post here:How to Build a Retirement Fund from Scratch at Any AgeRead our post about HSAs here:Everything You Need to Know About Health Savings Accounts (HSAs)Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
9/1/24 • 17:59
Ever wondered how downsizing could lead to a richer, more fulfilling retirement? Join me, Kevin Bass, as I share my personal journey transitioning to a tiny home, and uncover the secrets behind affordable retirement housing options. Discover the benefits and limitations of tiny homes, including their minimalist appeal and financial advantages, but also the challenges they pose. By sharing my first-hand experiences, including a stint in a used mobile home, I promise you will gain valuable insights into achieving financial freedom and a higher quality of life in retirement. Explore the flexibility and affordability of mobile homes and get a glimpse into the supportive, cost-sharing world of co-housing communities. Learn how these alternatives can serve as viable solutions for retirees looking to escape the financial burdens of traditional housing. Hear about the downsides of mobile homes, such as depreciation and weather risks, balanced with the strong sense of community and shared expenses found in co-housing setups. Whether you're nearing retirement or planning ahead, this episode is packed with actionable advice and real-life examples to help you make an informed decision.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
8/25/24 • 21:21
Ever wondered how to achieve financial freedom before retirement? This episode promises to arm you with the know-how to eliminate debt and secure your golden years. Join me, Kevin Bass, on Low Income Rich Life as we explore essential strategies like the avalanche method and the importance of assessing your entire debt portfolio. I'll share personal anecdotes and practical tips that will help you cut unnecessary expenses and redirect savings toward debt repayment.We'll discuss the significance of creating a realistic budget that prioritizes debt repayment without compromising personal enjoyment. Learn how to identify areas where you can cut back, like dining out or unnecessary subscriptions, and how reallocating resources can make a huge difference. Whether you're on the brink of retirement or still have some time to plan, this episode is packed with actionable insights to help you manage and reduce debt effectively, ensuring a more secure and fulfilling retirement.Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
8/18/24 • 13:28
What if you could retire comfortably on a low income? In this episode of Low Income Rich Life, hosted by Kevin Bass, we go over five smart steps to retire on a low income. We uncover five essential strategies to ensure a secure and fulfilling retirement, even on a tight budget. We start with the critical importance of initiating a retirement savings account, focusing on employer-provided plans such as 401ks and Roth accounts. Kevin shares his personal experience and offers practical advice on maximizing these options to your advantage.We then tackle the vital step of getting out of debt, drawing inspiration from financial experts like Dave Ramsey and Kevin's own journey. Reducing housing costs is another significant topic, with tips on managing mortgage expenses effectively. Throughout the episode, you'll find a mix of personal stories and actionable tips designed to guide you toward a brighter financial future. Whether you're just starting to plan or are close to retirement, join us to learn how to make the most out of your golden years without financial stress. Tune in and start taking steps today for a more secure tomorrow!Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
8/11/24 • 08:04
Send us a Text Message with your questions, comments or ideas for future episodes.Support the showDon't forget to visit our website at https://lowincomerichlife.com for additional resources, show notes and links to everything we discussed today. You can also join the conversation in our Facebook group at www.facebook.com/groups/lowincomerichlife for more updates and retirement tips.Subscribe to our newsletter at https://lowincomerichlife.com/subscribe for regular updates and exclusive content.
8/11/24 • 06:05
