February 5, 2015 at 6:17 pm / by Producer Eric Dye
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Kimberly Clouse, Covestor’s Chief Client Advocate and Advisory Board Chair joins Covestor Radio (Episode 26) to discuss the Money Milestone of earning your first paycheck.
Covestor Radio is a show about money milestones and investing for your future and brought to you by Covestor, an online marketplace for investing.
Listen to host Eric Dye & guest Kimberly Clouse discuss the following:
- So what are some financial steps that a new employee should be thinking about?
- Why is an emergency fund important?
- Now let’s talk about the 2nd financial step; contributing to a 401k plan.
- What is a 401k match?
- Let’s talk about third thing you suggest that new workers do — create a Roth IRA account.
TIP: Beware of the “hedonic treadmill.” You’ve gotten your first paycheck – WOW, you’re loaded! Now you can afford that new TV, new iWhatever, and that trip to Bermuda. Beware that you are now on the “hedonic treadmill”. According to the hedonic treadmill, as a person makes more money, your expectations about what you must have and need rise as well.
About Kimberly Clouse
Kimberly Clouse is Advisory Board Chair at Covestor, a registered investment adviser and an online marketplace for investing.
Passionate about empowering financial consumers, Kimberly works with individuals, families and foundations to help them navigate the increasingly complex world of investment advice and make more informed financial decisions.
She previously served as Managing Director at Athena Capital Advisors and Chief Executive Officer at Hale and Dorr Wealth Advisors. Earlier in her career, she worked for United States Trust Company, J.P. Morgan and Goldman Sachs.
Note: All opinions included in this radio episode are as of [January 26, 2015] and are subject to change. The opinions and views expressed herein are of Kimberly Clouse. All investments involve risk, the amount of which may vary significantly.