In this episode Mark shares his approach to starting the new year with a solid personal financial plan. He covers how to reflect on the past year's financial activities, organize income and expenses, and prepare a comprehensive one-page financial plan for the upcoming year.
Topics include tracking income and expenses, calculating net worth, preparing for tax season, optimizing health insurance subsidies, and setting savings goals. Mark offers practical tips and tools for both retirees and those still earning income, emphasizing the importance of aligning spending with personal values and automating savings.
If you would like your question answered on the show, please send an email to Mark@MarksMoneyMind.com and put “podcast question” in the subject line.
Episode Links:
Mark’s Money Mind YouTube Channel
The Financial Speedometer: Tracking Your Income & Expenses | Episode 004
The Financial Starting Line – Net Worth, 529 to Roth IRA and Q&A | Episode 003
Dinkytown.net 1040 Tax Calculator
College for Financial Planning - 2025 Annual Limits Relating to Financial Planning
Social Security Administration
Timestamps:
- 00:27 Reflecting on Last Year's Finances
- 01:37 Reviewing and Categorizing Financial Data
- 05:02 Creating a Net Worth Statement
- 08:14 Preparing for Tax Season
- 12:59 Planning for the New Year
- 21:22 Understanding ACA Subsidies and Tax Brackets
- 23:48 Strategies for Managing Income and Subsidies
- 28:20 Pay Yourself First: Savings Goals and Strategies
- 29:08 Maximizing Employer-Sponsored Retirement Plans
- 30:12 IRA Contributions: Traditional vs. Roth
- 31:35 Health Savings Accounts (HSAs) and Other Savings Goals
- 35:14 Reviewing Tax Withholding and Estimated Payments
- 37:10 Creating a One-Page Financial Plan
Popular Podcasts
New Heights with Jason & Travis Kelce
Football’s funniest family duo — Jason Kelce of the Philadelphia Eagles and Travis Kelce of the Kansas City Chiefs — team up to provide next-level access to life in the league as it unfolds. The two brothers and Super Bowl champions drop weekly insights about the weekly slate of games and share their INSIDE perspectives on trending NFL news and sports headlines. They also endlessly rag on each other as brothers do, chat the latest in pop culture and welcome some very popular and well-known friends to chat with them. Check out new episodes every Wednesday. Follow New Heights on the Wondery App, YouTube or wherever you get your podcasts. You can listen to new episodes early and ad-free, and get exclusive content on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. And join our new membership for a unique fan experience by going to the New Heights YouTube channel now!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.