Techie Personal Finance Bootcamp

Feeling like you're stuck living paycheck to paycheck? 🤔 Join Lucas Casarez, tech financial planner, as he dives into the hidden financial wins you might be overlooking! Retirement Savings Welcome to Techie Personal Finance Bootcamp. Many of you might feel like you're living paycheck to paycheck, not saving as much as you'd prefer. However, if you step back, you'll see activities adding value, akin to savings, even if they're not channeled into emergency funds. For example, significant contributions to retirement accounts can often go unnoticed. Even if you're maxing them out annually, this is indeed a form of savings that many forget to acknowledge. Employer Stock Besides regular savings, you might have stock options or employer compensation in stock form. Whether it's through an employee stock purchase plan, RSUs, incentive, or non-qualified stock options, allowing these to build up can reflect significant savings. It's crucial to acknowledge these investments rather than selling them off to fund lifestyles because eventually, they prove to be a powerful asset. Home Equity Home equity is another asset often overlooked. If you've owned a home for five years or more, not only has the equity likely increased, but a low locked-in mortgage rate gives you a competitive edge. Especially for younger generations, such equity contributes significantly to your net worth, even if it's not readily liquid. Catching Up For career changers, recent tech bootcamp graduates, or anyone navigating a financial catch-up game, there's potential for financial recovery through income increases. As illustrated, transitioning from a $60,000 to a $100,000 income can greatly impact debt and save for future investments. This progression, while it might initially focus on debt repayment, will eventually contribute to saving and investment growth. Take Advantage of Opportunities to Get Ahead It's essential to maintain restraint against lifestyle creep when incomes rise. By sustaining a previous lifestyle after significant pay increases, you're paving a path for financial fortification. Avoiding the trap of higher expenditure and focusing on leveraging these seasons of prosperity ensures you'll establish solid financial footing. In times of emergencies, whether personal or involving close ones, your preparedness from years of wise financial management can provide the flexibility needed to navigate these challenges with less stress. Always remember, life's financial journey is about making informed decisions today to better equip yourself for tomorrow. If you have any financial strategy questions or require guidance, don’t hesitate to reach out for a consultation. Understanding your comprehensive financial picture might reveal that you're in a stronger position than initially perceived. Let's keep the conversation going to ensure your financial goals align with your life changes.

Navigating Stock Market Volatility: Long-term Investment Strategies Explained In this episode of Techie Personal Finance Bootcamp, we discuss the current stock market volatility caused by recent tariff announcements and offer practical advice for maintaining a long-term investment approach. Learn why diversification is crucial, how to manage short-term financial goals, and why now might be a good time to invest, especially for younger individuals. Non-Profit Sponsor: Tech By Choice

In this video, the host explains why paychecks may be smaller in January 2025 compared to December 2024. The main reason is due to the resumption of Social Security deductions at the start of the year, which cease once annual income exceeds $176,100. This deduction affects high-income earners significantly, making their early-year finances feel tighter. The host provides tips on managing cash flow and planning financial contributions around the timing of these deductions, ensuring viewers have clarity on the finances to make informed decisions.

In this episode of Techie Personal Finance Bootcamp, we explore the real value of bonuses, raises, and stock options with a focus on how taxes can greatly diminish their apparent worth. We delve into examples to reveal the true post-tax income you can expect. Additionally, we highlight common mistakes like lifestyle inflation and poor financial planning that can lead to overspending and emphasize the importance of intentional money management and the impact of taxation on financial decisions.

This episode delves into the financial issues tech professionals face, focusing on the challenge of managing credit card debt despite high incomes. It discusses how lifestyle creep, unexpected expenses, and high interest rates lead to debt accumulation. Emphasizing the importance of financial management, the danger of relying on future financial expectations and underscores the consequences of unchecked debt, such as stress and potential evictions. It provides practical strategies like using budgeting tools, setting savings plans, and adopting the debt snowball approach. Furthermore, it highlights the need for minimizing unnecessary expenses and leveraging all financial resources to expedite debt repayment, ultimately aiming to regain financial control and achieve long-term goals.

Sean Page, a senior technical recruiter at Propel, shares his non-traditional career path from biology major to public health professional to tech recruiter. He emphasizes the increasing competitiveness in the job market, the importance of understanding DEI (diversity, equity, and inclusion) in hiring processes, and the need for clear communication in salary negotiations. Sean highlights the differences between working in non-profit and tech sectors, particularly regarding timelines and meeting cultures. He stresses the role of recruiters as important cross-sectional contributors to business operations and advocates for focusing on senior-level hires for greater DEI impact. Sean offers tips for job seekers on standing out in interviews, leveraging data, and maintaining mental health during prolonged job searches in a challenging market. Sean's social media links: https://x.com/SeanPageTalent Non-Profit Sponsor Links: https://www.techbychoice.org/ https://www.underdogdevs.org/

In this episode of Techie Personal Finance Bootcamp, host Lucas Casarez, CFP® discusses the process of transitioning out of a tech career, addressing the importance of understanding projected salaries, the impact of lifestyle and expenses on decision-making, and the necessity of financial planning. He emphasizes the need for thoughtful consideration and planning before making any drastic career changes, suggesting exploring additional opportunities within tech and calculating the necessary income for a sustainable transition. He also provides advice on managing resources, reducing expenses, and planning for a successful career change. The episode aims to help listeners design and build the life they want through informed and strategic decisions.

In this episode, you'll learn the answer to the following questions about how your employer stock impacts your taxes, as well as, charitable giving strategies: What Is The Difference Between A Private And Public CompanyThe Most Common Types Of Employer Stock PlansHow Your Employer Stock Is TaxedEmployer Stock StrategiesIs Your Charitable Giving Is Tax Deductible What Is A Donor Advised FundBenefits Of Donating Stock https://www.techbychoice.org/donate https://www.levelupfinancialplanning.com/getting-those-big-tech-checks-with-tech-by-choice/ https://the-collab-lab.codes/ https://www.levelupfinancialplanning.com/a-co-founders-journey-to-starting-the-collab-lab/ https://www.levelupfinancialplanning.com/wp-content/uploads/2023/01/Important-Numbers-2023-1.pdf https://www.underdogdevs.org/ https://www.levelupfinancialplanning.com/creating-a-non-profit-to-help-underdog-devs/

In this episode, you'll learn the answer to the following questions about how your retirement accounts impact your taxes, as well as, how to correctly make Backdoor ROTH contributions. What Is A Traditional Retirement Account What Is A ROTH Retirement AccountDo I Make Too Much To Contribute To Certain Retirement AccountsWhat Is A Backdoor ROTHCan I Make a Mega Backdoor ROTH Contributionhttps://www.techbychoice.org/donate https://www.levelupfinancialplanning.com/getting-those-big-tech-checks-with-tech-by-choice/ https://the-collab-lab.codes/ https://www.levelupfinancialplanning.com/a-co-founders-journey-to-starting-the-collab-lab/ https://www.levelupfinancialplanning.com/wp-content/uploads/2023/01/Important-Numbers-2023-1.pdf https://www.underdogdevs.org/ https://www.levelupfinancialplanning.com/creating-a-non-profit-to-help-underdog-devs/

Taxes can be complex and confusing, but it's important to understand them so you can pay the correct amount and take advantage of all the deductions and credits you're eligible for. In this episode, we'll cover everything you need to know about your taxes, from the basics to more advanced strategies. Topics covered: What are the different types of taxes?How are taxes calculated?What are deductions and credits?What is the standard deduction?What are itemized deductions?What are popular tax credits?What are income phaseouts?How to calculate your marginal and effective tax ratesHow are bonuses and stock options taxed? https://www.techbychoice.org/donate https://www.levelupfinancialplanning.com/getting-those-big-tech-checks-with-tech-by-choice/ https://the-collab-lab.codes/ https://www.levelupfinancialplanning.com/a-co-founders-journey-to-starting-the-collab-lab/ https://www.levelupfinancialplanning.com/wp-content/uploads/2023/01/Important-Numbers-2023-1.pdf

In this episode, we interview Andrew Hedges, a career changer, startup co-founder, and non-profit co-founder. We talk about his journey from traditional employment to tech, the mission of his startup Assistiv Labs, the most misunderstood thing about accessibility, and advice for founders and co-founders. We also discuss The Collab Lab, a non-profit he co-founded, and the benefits of teaming up with others. Here are some key questions we will answer in the episode: Join us for this inspiring conversation with a passionate entrepreneur and non-profit leader! https://the-collab-lab.codes https://assistivlabs.com https://mailchi.mp/081b79193143/understand-your-taxes-end-of-year-tax-strategies

This is a part of the non-profit series where I highlight great members of the tech community who play a significant role in running a non-profit. Valerie is a self-taught developer who is now an engineering manager and the founder of Tech by Choice, a non-profit that helps underrepresented groups enter, stay and thrive in tech. Valerie talks about her experience as a manager and her work with Tech by Choice. She discusses her biggest challenges as a manager, her goals for the future, and her advice for others who are interested in entering the tech industry. As the founder of Tech By Choice, Valerie shares her personal stories that inspired the creation of Tech By Choice, the challenges of running a non-profit, the impact she's seeing in the community, and exciting projects that will be launching soon. https://www.techbychoice.org/donate https://mailchi.mp/081b79193143/understand-your-taxes-end-of-year-tax-strategies Valerie's previous interview. https://www.levelupfinancialplanning.com/the-wealth-of-being-in-tech-with-valerie/

Can you imagine building a thriving career in tech, overcoming societal stigmas, and then going ahead to establish a non-profit to help others do the same? That's exactly what our guest today, Rick Wolter, has done, and he joins us to share his inspiring journey. Rick shares how he went from being basically tech illiterate to landing a job in tech and helping others with similar backgrounds of being formerly incarcerated to do the same. Underdog Devs, is a non-profit dedicated to helping individuals from disadvantaged backgrounds, especially those with a history of incarceration, kickstart their careers in software development. Interested in giving back? Visit https://www.underdogdevs.org/ to make a charitable donation or contact Rick if you have equipment you'd like to donate or have time to be a mentee. https://twitter.com/RwoltX https://twitter.com/UnderdogDevs Register for the End Of Year Tax Strategies workshops here

Ever wondered why your spending seems to mysteriously multiply when your income increases? Join us as we dive deep into the world of lifestyle creep - the silent financial nemesis that can sabotage your present financial status and future plans. In today's episode, we unveil the facets of lifestyle creep, explaining how unchecked spending patterns may lead to a personal inflation phenomenon that might just be draining your wallet. From exploring the ripple effects of a pay rise to breaking down the psychological triggers such as ‘keeping up with the Joneses', we scrutinize the root causes that fan the flames of lifestyle creep. But we don't just stop there - we also provide actionable tips and tricks on how to keep this financial behemoth at bay. We emphasize understanding your financial landscape, setting clear priorities, and making small adjustments to ensure your spending aligns with your long-term financial goals. Whether you're a rookie in your career or enjoying a significant salary bump, tune in for some valuable insights that will keep your financial health in prime shape.

Have you ever wondered how a construction worker would transition into a career in cybersecurity? Our friend Danny, who did just that, offers a riveting account of his unique tech journey. A Microsoft scam was a pivotal moment that sparked his curiosity and propelled him to explore the complex world of cybersecurity. His story is a testament to the idea that traditional educational background need not always dictate your career path. Danny generously shares several resources for those intrigued by the tech field, especially the realm of cybersecurity. Shifting gears, career transitions become the focus of our conversation. Those mulling over a career change will find Danny's advice immensely valuable - he stresses the importance of thoroughly researching roles, networking, continuous learning, and the art of asking the right questions. Personal cybersecurity is another crucial topic we delve into. With insights drawn from Danny's own experience, we discuss the necessity of maintaining digital hygiene and implementing protective measures to safeguard your data. This episode is a compelling mix of inspiring stories, practical tips, and valuable resources designed to guide you on your path to a successful tech career. So, tune in, get inspired, and get ready to embark on your tech journey. Danny's Substack https://zendannyy.substack.com/ Danny's Free Course https://www.udemy.com/course/intro-to-linux/ Danny's Youtube https://www.youtube.com/@zendanny

What's Next for Student Loan Forgiveness? In this podcast, we discuss the recent news that the previously announced student loan forgiveness is no longer a legal solution. We cover what to expect now that payments are restarting in October, including the new SAVE repayment plan, and the temporary ramp-up period. We also discuss the new path that the Biden administration is taking to try to achieve student loan forgiveness, and what that might mean for borrowers. Key takeaways:

Is Purchasing a Home in 2023 a Good Financial Decision? In this episode, we'll discuss the pros and cons of purchasing a home in 2023. We'll cover topics such as: We'll also provide some tips for making an informed decision about whether or not to purchase a home in 2023. Whether you're a first-time homebuyer or a current homeowner, this episode is for you. We'll help you understand the financial implications of homeownership and make the best decision for your individual circumstances. Listen to the episode today to learn more!

In this episode, we'll talk about how to increase your income. Whether you're looking to make more money to retire early, have more security and flexibility, or simply to make ends meet, there are a number of things you can do to make more money. How to Know If You Need to Make More Money There are a few signs that you may need to make more money. If you're living paycheck to paycheck, if there are important goals that seem impossible to achieve, or if you've already dug into your budget and cut out unimportant and low-value expenses, then it's possible that you need to increase your income. Why Even Though You're Making a Ton of Money It Doesn't Seem Like Enough There are a few reasons why even though you're making a lot of money, it may not seem like enough. One reason is that the cost of living can vary dramatically from city to city. Another reason is that you may have a high cost of living due to your lifestyle choices. For example, if you like to live in a big house or drive a fancy car, then you're going to need to make more money to support those lifestyle choices. Finally, you may be supporting others financially, such as a spouse, children, or family members. If this is the case, then it's important to factor in the cost of supporting those people when you're considering your income needs. How to Increase Your Income There are a number of ways to increase your income. Some of the most common methods include:

Do you own a home with a ton of equity? In this episode, I talk about the awesomeness of a Home Equity Line of Credit (HELOC). I cover the pros, cons, and how they compare to other options that may be available to you.

Isai Cortez is a Tax Attorney and owner of Bismark Tax, Inc in Los Angeles, CA. He's also the founder of SynkBooks and an adjunct professor at Pepperdine University School of Law. Isai shares his story, which goes all the way back to age 4 when his family was in a situation that made him want to be an advocate and help people understand their taxes. This episode is full of of great stories and advice that spans entrepreneurship, finances, and life. https://www.linkedin.com/in/isai-bismark-cortez-01048143/ https://app.synkbooks.com/team/ https://bismarktax.com/isai-bismark-cortez-esq/ https://twitter.com/IsaiBCortez