Many people get frustrated living from paycheck to paycheck, and many people are sometimes forced to leave the job they love for monetary reasons. But what many employees may be unaware of are the additional benefits from employment that could help alleviate their expenses, aside from their salary.
Here on The His & Her Money Show, we advocate financial empowerment to people of all ages. We have Wilson Muscadin as our guest on today’s episode, to identify and explain how to use the many benefits that might not be too obvious, and employees need to know.
Wilson is a Certified Financial Education Instructor with a goal to build a community of young professionals, to talk about conquering their finances now so they can live the lives they want to live. He has been a personal finance nerd since he was a kid and has been working for the financial services industry his whole career.
Wilson has proven over the years that people are not taught even the basics of personal finance; instead, people are taught to be a consumer. Wilson also observed that the financial services as a whole are not set up to help young people or the middle class, instead are set up for older people who already have a lot of assets. On top of that, statistics show that 80% of people’s most important financial decisions are made before the age of 35.
People are missing out on thousands of dollars or opportunities for things they’ve already earned.
There could only be so much information Wilson could squeeze and deliver in such a short amount of time. Wilson kept his counsel concise yet understandable as he contributes a lot of powerful advice and awareness, for employees to obtain their benefits to a superlative degree. As Wilson said himself, “The truth is if you’re a salaried employee, your employee benefits comprised on average about 20-30% of your total compensation. Your salary is just one piece.”
Wilson founded The Money Speakeasy with the objective of empowering millennials to overcome the financial challenges by rejecting the status quo, in order to live financially free. It is committed to creating a judgment-free zone where people can ask the most basic financial questions up to the advanced topics.
What You Will Learn
- How to break down your goals from short term to long term.
- Wilson’s preference between Traditional and Roth 401k.
- The many ways of benefiting from HSA.
- What options to look at when it comes to getting life insurance.
- Understanding long-term and short-term disability insurance.
- Two things that could be available as an additional employee benefit.
- Why the company portal and/or HR are important to employees.
Resources Mentioned
- BLOOOM
- Future Advisor
- Wilson’s Give Yourself A Raise!
- Wilson’s Conquer Your 401(k).
Thanks For Listening!
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