Thursday Sep 12, 2024

National Debt Vs. Deficit: How It Affects You

We've all heard about the national debt and deficit, but how do they actually impact your retirement plans? In this episode, Jude clarifies these often-confused terms and explores the challenges posed by the growing national debt. He also discusses how these factors influence inflation and your savings strategy as you approach retirement.

Tune in as Jude and Marc talk about potential solutions and strategies and share some practical advice for managing your retirement accounts tax efficiently.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:19 – National deficit vs national debt

5:40 – Historical context and current spending

8:47 – Inflation and its impact on retirement

10:45 – Maximizing retirement savings

15:26 – Being savvy with your money

Resources for this episode:

U.S. Debt Clock

https://www.usdebtclock.org/

Should I Contribute To my Roth IRA Vs Traditional IRA Flow Chart

https://drive.google.com/file/d/1nhrQKyai9HKtb3oTYWXZ-xVzHOtHWZMk/view?usp=sharing