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Description

Jim Elios introduces a three-bucket approach to visualize assets: short-term for emergency reserves, intermediate for growth-oriented investments, and long-term for retirement accounts, such as 401(k)s and IRAs. He emphasizes the need for liquidity in the short-term bucket to avoid liquidating assets during market volatility and highlights the benefits of tax-favored accounts, such as Roth IRAs, for long-term planning.