When Life Throws You a Curveball—Don’t Go Broke - E27
When life throws an unexpected curveball, job loss, medical crisis, or the AC goes out in the middle of July, will your finances strike out or stand strong? Michael and Brady break down the often-overlooked cornerstone of a resilient financial plan: your emergency fund, or as they call it, your "life events fund." From smart strategies for building liquidity to leveraging backup tools like credit lines and Roth IRAs, they reveal how to turn chaos into control. With real-life client stories, actionable frameworks, and powerful analogies, this episode is your playbook for weathering the financial storms that will come. Prepare today so tomorrow doesn’t catch you off guard.
Key Timestamps:
(00:00) - Why investors and high earners need liquidity
(10:00) - Life events fund vs. emergency fund
(15:00) - Liquidity backups: credit cards, HELOCs, Roth IRAs
(19:00) - 401(k) loans and accessing retirement funds
(22:00) - Budgeting vs. transferring risk
(24:00) - Disability and job loss planning with insurance
(27:00) - DIY planning and the value of decision trees
(29:00) - Cash flow chaos plans and budget cuts
(31:00) - Coordinating planning with your partner
Key Topics Discussed:
Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything
Mentions:
Website: https://www.genesiswealthplanning.com/
Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/
Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/
Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta
NerdWallet’s Best Savings Accounts: https://www.nerdwallet.com/best/banking/savings-accounts?msockid=3ddb198c15df6ab502ef0a8914486b41
Where Should My Next Dollar Go?: https://drive.google.com/file/d/1ovF3AEiq63aXgiDo5MqzXqYkM4LATOso/view?usp=drive_link
This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.
Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.14. Expiration 8-27.
