💰6 things you MUST do first when starting your journey to building real wealth

Last month, my 32-year-old sister-in-law asked me she should do with her first “extra” $500.

Her options?

She told me she was overwhelmed, and didn’t want to “waste this opportunity”.

I get it.

The internet is full of financial “gurus” screaming conflicting advice while trying to sell you their course, coaching program or custom GPT (ask me how I know🙄).

But here’s what nobody tells you about building real wealth:

It’s not about doing everything at once.

Let me explain what I mean.

If you’re like me, when I first started on my journey to financial freedom, I was struggling just to keep my head above water.

Then in my mid-twenties, when I first had a little bit left over after bills, I began trying to figure out the best things to do with it.

Here’s what I ran into. Tell me if this sounds familiar…

Too much information. In the wrong order. Spread across 10 “priorities” — each one different depending on who I listened to.

Guess what happens when you try to do that?

Nothing.

I just let my extra money sit in my checking account for YEARS! (I’m so embarrassed to even admit that)

But when you follow the right order?

That’s when you start seeing real progress.

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My husband Andrew and I recently got back from a two-week trip to Norway (stunningly beautiful country!).

Five planes, five announcements from the flight attendants to put your own mask on before that of anyone else.

The more I thought about it, the more I realized this is what needs to happen first in your journey to financial freedom.

In the case of my sister-in-law, she thought she should first take that $500 and start a 529 account for her daughter.

Wrong.

I told her she needed to open up a Roth IRA (individual retirement account).

Because here’s the hard truth:

Your retirement comes before your kids’ college fund.

I know you love them. I know you’ll feel massive guilt doing this. I know you’ll feel like you’re not sacrificing enough for them and therefore aren’t a “good parent”.

But you know what actually isn’t a good parent?

Modeling bad financial habits for your kids, and having them follow in your same footsteps.

And know what you’ll really feel guilty about?

Being broke at 67 and moving in with those same kids (if they’ll let you).

Kids can borrow for college. They have decades of earning power ahead of them. Scholarships exist. Community college exists. Work-study exists.

You cannot borrow for retirement!

There are no student loans for your golden years. No scholarships for 70-year-olds. No “work-study” program where you bag groceries to fund your Mary Poppins’ size bag of medications (That’s a joke…hopefully you don’t have this🙏).

Fund your retirement first. Then help others.

Not because you don’t love them.

But because you do.

Someone on my TikTok recently commented that I must be Dave Ramsey’s anti-Christ.😂

Why?

Because for years, I heard the same advice:

Cool story Dave.

Except, you’re still losing money.

When you pay off a $500 debt at 5% interest while carrying a $10,000 credit card balance at 24% interest, you’re not winning.

You’re performing a victory lap while running on one leg.

To have any chance of building real wealth, you MUST get rid of any high-interest debt.

Some types of debt is “good”:

✅Your mortgage
✅Rental properties
✅Business loans (as long as your business is actually making money) etc.

Bad, dare I say, HORRIBLE debt?

❌Credit cards
❌Student loans
❌Pay-day loans
❌Personal loans
❌Car payments
❌Buy-Now, Pay-Later loans

If you have these, attacking the smallest balance first isn’t going to get you very far.

Here’s what to do instead:

Attack your highest interest rate debt first.

This is the one costing you the most money.

And while we’re all human and we let emotions creep into our personal finances, math doesn’t lie.

That 24% APR you’re paying to Mr. AMEX or Ms. Chase while inflation runs at 3%?

Yeah. Math wins.

Every dollar you throw at that 24% credit card debt is a guaranteed 24% return.

Show me an investment that beats that without risk.

The least sexy step on this list.

Nobody’s posting on Instagram about their term-life insurance. Nobody’s bragging about their disability coverage over lunch.

And that’s exactly why most people skip it.

Until they can’t.

If anyone depends on your income, you need:

A) Term life insurance

❌NOT whole life
❌NOT universal life
❌NOT whatever your best friend’s selling after their weekend insurance course

Term👏 Life👏 Insurance👏 .

It’s cheap. It’s simple. It disappears when you don’t need it anymore.

B) Long-term disability insurance

The most underrated wealth protector you’ll ever buy.

You’re more likely to become disabled than die young.

But nobody talks about it because it’s not social media worthy.

Your ability to earn income is your greatest asset.

Protect it!

When I learned your Roth IRA is like your backup emergency fund, my mind was officially blown.🤯

Most people think:

Emergency fund first, retirement second.

Wrong order.

Here’s the truth:

You can withdraw your Roth IRA contributions anytime, tax-free, penalty-free.

Notice I said the contributions. NOT the earnings. Only what you put in.

That means your Roth IRA is:

My play on this?

Invest your Roth contributions in low-cost index funds or ETFs (exchange traded funds). Let it grow. Done.

If you need it? It’s there.

If you don’t? It’s compounding tax-free for retirement.

Best of both worlds. Zero downside.

Now if only waking up in your late thirties after two drinks worked that way…

This might just be the easiest money you’ll ever make.

What is it?

Your employer’s match on any 401(k) or IRA.

If your employer offers a 401(k) match and you’re not taking it, you’re saying no to a 50%+ raise.

Think about that.

For the love of…take the free money!😂

Most employers match 3-6% of your contribution. That’s:

I don’t care if the fund options are just OK. I don’t care if you’re paying off debt. I don’t care if you “need” the cash.

At a minimum, contribute enough to get the full match.

Leaving that money on the table isn’t a strategy.

It’s a VERY costly mistake.

Yet why then are only 20% of Americans using it?

Because you think it’s “just for medical stuff.”

Because of that, you’re missing out on millions in potential savings.

What is it?

A Health Savings Account. Or HSA for short.

If offers you 3 main tax benefits:

No other account does this.

Here’s my strategy for my HSA that I don’t hear hardly anyone talking about:

It’s an IRA on steroids.

And yet most people use it like a checking account.

But now you know. Now you’re smarter than most people.

Building wealth isn’t about doing everything all at once.

It’s about doing the right things in the right order.

Here’s the actual sequence:

1. Start your retirement account before anyone else’s. Remember, you can’t help your kids, or your second-cousin’s first aunt twice-removed if you’re broke.

2. Pay off high-interest debt. Anything above 7-8% interest. Attack it like your wealth depends on it. Because it does.

3. Get term life insurance. Term life (not whole life) if anyone depends on your income. Disability coverage because you can’t work forever.

4. Max out your Roth IRA $7,000/year (2024-2025). It’s your retirement fund AND your stealth emergency fund.

5. Contribute enough to get your full 401(k) match. Free money first. Always.

6. Max out your HSA (if eligible) $4,150 for individuals, $8,300 for families (2024). The triple-tax advantage is unmatched.

This order isn’t random. It’s leverage.

Each step compounds the next. Each priority maximizes your return before moving to the next.

Stop asking: “What should I do with this money?”

Start asking: “What’s the highest-leverage move I can make with my money right now?”

Then only do that.

The rest can wait.

Trust me. I’ve built more wealth following this order than I ever did trying to do everything at once. And I’ve never once regretted it.

So do these six things in that order and you’ll be well on your way to whatever financial freedom looks like for you.

Talk soon!Your friend,

Charlie | Your Wealth Hype Girl

📌 P.S. - My 32-year-old sister-in-law with $500? She put it toward her credit card debt (23% interest). Three months later, she’d paid off $4,000 and started maxing her Roth. Turns out she didn’t need more money. She needed the right order.

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Also, please be careful with any suspicious people who try to impersonate me and ask you to send them money, so they can “invest” for you. There are tons of scammers out there. Always check their credentials in their profile and if it sounds too good to be true, it probably is. Stay safe!

Disclaimer: Not financial advice. Educational purposes only.