#5 - Q&A Session

First Q&A for Money Owners! Co-host Mark Guastaferri joins me to help answer some questions from the crowd. Q1. Starting a business - what to think about? Already in business, what else to think about? Q2. How much life insurance do I need? Q3. How much should I have saved in my 30s? Q4. Roth IRA vs Traditional IRA? Q5. What to do with cash in the short term? Other stuff we referenced: Nerd Wallet Insurance Calculator: https://www.nerdwallet.com/blog/insurance/how-much-life-insurance-do-i-need/ Millionaire Next Door "How do I stack up" formula: Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by 10. This, less any inherited wealth, is what your net worth should be (if you are "wealthy" and an "accumulator") Historical US Tax Rates Graph: http://dailydoseofexcel.com/archives/2009/04/16/historical-us-tax-rates/ If you'd like to ask us a question for next time, holler @money_owners or @morgenrochard on twitter or put your question into "Ask Morgen" on our website www.moneyowners.com/askme