Crush Your Money Goals Coach, Bernadette Joy shares 3 tips to help you invest your money

CHARLOTTE, N.C. — Today we are talking investing with Bernadette Joy.  Bernadette Joy is Charlotte’s top money coach who paid off $300,000 of debt in 3 years,
invested for early retirement and now helps local women get control of their financial futures.  “Investing can be overwhelming with the various financial instruments and the sometimes complicated jargon; it can be confusing” says Joy. Here are some tips you can incorporate to make things a little easier when investing.

Tip 1: Consolidate your investment accounts, especially old 401ks.

From working with hundreds of clients, I learned that many people ignore their old 401ks not knowing they are paying extra fees to have them held in multiple accounts. If you have old 401ks sitting out from past employers, this year is the year to roll them over into an individual retirement account and combine them so that you have fewer accounts to track, and you will pay less in fees.

Tip 2: Optimize your retirement accounts before going into an investing app.

The last few years has shown a growth in investing apps, but people are leaving money on the table by investing in those apps when they can put more money into investing by just going up to the limit of your retirement accounts. The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 — up from $20,500 for 2022. The limit on annual contributions to an IRA increased to $6,500, up from $6,000.  Before you invest in an app where you have to pay more taxes on your investments, try going up to the limit of retirement accounts before opening up a new account.

Tip 3: Pay down all your credit card debt before you keep…

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