Once you have completed steps 1 and 2, you should now have some funds freed-up for savings. If you were unable to free-up funds while completing steps 1 and 2, then your expenses are fully optimized, and your journey will stop here at step 3. If you’re still with us, then you have some freed-up funds and may be wondering, “so, what do I do now?” That is a great question! Ask yourself these questions:
a) Do I have a 401K? If so, am I contributing the max amount?
b) Do I have IRA accounts? If so, have I maxed the accounts out this year?