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Techie Personal Finance Bootcamp

Techie Personal Finance Bootcamp

Author: Lucas Casarez CFP®

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I help tech employees use their finances to create the life of their dreams by helping you take your financial confidence to the next level!Are you a tech employee who wants to learn how to better manage your finances?Working in tech you may experience extreme pay increases, which may allow you the ability to accomplish goals you've only dreamed of. However, if mismanaged, you can also find yourself stressed out and under pressure to increase your income in order to fit your lifestyle.The good news, is through education and a little bit of determination, you have the power to control your future and create your best life.Not only will we cover basic personal finance concepts, but we'll dive deep into tech specific benefits and issues that I regularly help my clients build strategies to maximize. (Examples: working for start ups, restricted stock units, stock options, and layoffs) Also, on a regular basis, I will have special guests that will highlight their stories with unique stories about their tech experiences.
90 Episodes
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In this video, the host explains why paychecks may be smaller in January 2025 compared to December 2024. The main reason is due to the resumption of Social Security deductions at the start of the year, which cease once annual income exceeds $176,100. This deduction affects high-income earners significantly, making their early-year finances feel tighter. The host provides tips on managing cash flow and planning financial contributions around the timing of these deductions, ensuring v...
In this episode of Techie Personal Finance Bootcamp, we explore the real value of bonuses, raises, and stock options with a focus on how taxes can greatly diminish their apparent worth. We delve into examples to reveal the true post-tax income you can expect. Additionally, we highlight common mistakes like lifestyle inflation and poor financial planning that can lead to overspending and emphasize the importance of intentional money management and the impact of taxation on financial decisions....
This episode delves into the financial issues tech professionals face, focusing on the challenge of managing credit card debt despite high incomes. It discusses how lifestyle creep, unexpected expenses, and high interest rates lead to debt accumulation. Emphasizing the importance of financial management, the danger of relying on future financial expectations and underscores the consequences of unchecked debt, such as stress and potential evictions. It provides practical strategies l...
Sean Page, a senior technical recruiter at Propel, shares his non-traditional career path from biology major to public health professional to tech recruiter. He emphasizes the increasing competitiveness in the job market, the importance of understanding DEI (diversity, equity, and inclusion) in hiring processes, and the need for clear communication in salary negotiations. Sean highlights the differences between working in non-profit and tech sectors, particularly regarding timelines and meeti...

Breaking Out Of Tech

2024-07-1122:41

In this episode of Techie Personal Finance Bootcamp, host Lucas Casarez, CFP® discusses the process of transitioning out of a tech career, addressing the importance of understanding projected salaries, the impact of lifestyle and expenses on decision-making, and the necessity of financial planning. He emphasizes the need for thoughtful consideration and planning before making any drastic career changes, suggesting exploring additional opportunities within tech and calculating the necessa...
In this episode, you'll learn the answer to the following questions about how your employer stock impacts your taxes, as well as, charitable giving strategies:What Is The Difference Between A Private And Public CompanyThe Most Common Types Of Employer Stock PlansHow Your Employer Stock Is TaxedEmployer Stock StrategiesIs Your Charitable Giving Is Tax Deductible What Is A Donor Advised FundBenefits Of Donating Stockhttps://www.techbychoice.org/donatehttps://www.levelupfinancialplanning.co...
In this episode, you'll learn the answer to the following questions about how your retirement accounts impact your taxes, as well as, how to correctly make Backdoor ROTH contributions.What Is A Traditional Retirement Account What Is A ROTH Retirement AccountDo I Make Too Much To Contribute To Certain Retirement AccountsWhat Is A Backdoor ROTHCan I Make a Mega Backdoor ROTH Contributionhttps://www.techbychoice.org/donatehttps://www.levelupfinancialplanning.com/getting-those-big-tech-check...
Taxes can be complex and confusing, but it's important to understand them so you can pay the correct amount and take advantage of all the deductions and credits you're eligible for. In this episode, we'll cover everything you need to know about your taxes, from the basics to more advanced strategies.Topics covered:What are the different types of taxes?How are taxes calculated?What are deductions and credits?What is the standard deduction?What are itemized deductions?What are popular tax credi...
In this episode, we interview Andrew Hedges, a career changer, startup co-founder, and non-profit co-founder. We talk about his journey from traditional employment to tech, the mission of his startup Assistiv Labs, the most misunderstood thing about accessibility, and advice for founders and co-founders. We also discuss The Collab Lab, a non-profit he co-founded, and the benefits of teaming up with others.Here are some key questions we will answer in the episode:What was the catalyst for your...
This is a part of the non-profit series where I highlight great members of the tech community who play a significant role in running a non-profit.Valerie is a self-taught developer who is now an engineering manager and the founder of Tech by Choice, a non-profit that helps underrepresented groups enter, stay and thrive in tech.Valerie talks about her experience as a manager and her work with Tech by Choice. She discusses her biggest challenges as a manager, her goals for the future, and her a...
Can you imagine building a thriving career in tech, overcoming societal stigmas, and then going ahead to establish a non-profit to help others do the same? That's exactly what our guest today, Rick Wolter, has done, and he joins us to share his inspiring journey. Rick shares how he went from being basically tech illiterate to landing a job in tech and helping others with similar backgrounds of being formerly incarcerated to do the same.Underdog Devs, is a non-profit dedicated to helping indiv...
Ever wondered why your spending seems to mysteriously multiply when your income increases? Join us as we dive deep into the world of lifestyle creep - the silent financial nemesis that can sabotage your present financial status and future plans. In today's episode, we unveil the facets of lifestyle creep, explaining how unchecked spending patterns may lead to a personal inflation phenomenon that might just be draining your wallet. From exploring the ripple effects of a pay rise to breaki...
Have you ever wondered how a construction worker would transition into a career in cybersecurity? Our friend Danny, who did just that, offers a riveting account of his unique tech journey. A Microsoft scam was a pivotal moment that sparked his curiosity and propelled him to explore the complex world of cybersecurity. His story is a testament to the idea that traditional educational background need not always dictate your career path. Danny generously shares several resources for those intrigu...
What's Next for Student Loan Forgiveness?In this podcast, we discuss the recent news that the previously announced student loan forgiveness is no longer a legal solution. We cover what to expect now that payments are restarting in October, including the new SAVE repayment plan, and the temporary ramp-up period. We also discuss the new path that the Biden administration is taking to try to achieve student loan forgiveness, and what that might mean for borrowers.Key takeaways:The previous Stude...
Is Purchasing a Home in 2023 a Good Financial Decision?In this episode, we'll discuss the pros and cons of purchasing a home in 2023. We'll cover topics such as:Why are mortgage interest rates so high?Is it financially feasible?How does it compare to renting?What should you do if you have a home with a low-interest rate?What are the risks of homeownership?What if house values decrease?What if interest rates decrease?We'll also provide some tips for making an informed decision about whether or...

How to Make More Money

2023-05-1728:33

In this episode, we'll talk about how to increase your income. Whether you're looking to make more money to retire early, have more security and flexibility, or simply to make ends meet, there are a number of things you can do to make more money.How to Know If You Need to Make More MoneyThere are a few signs that you may need to make more money. If you're living paycheck to paycheck, if there are important goals that seem impossible to achieve, or if you've already dug into your budget and cu...
Do you own a home with a ton of equity?In this episode, I talk about the awesomeness of a Home Equity Line of Credit (HELOC).I cover the pros, cons, and how they compare to other options that may be available to you.
Isai Cortez is a Tax Attorney and owner of Bismark Tax, Inc in Los Angeles, CA. He's also the founder of SynkBooks and an adjunct professor at Pepperdine University School of Law.Isai shares his story, which goes all the way back to age 4 when his family was in a situation that made him want to be an advocate and help people understand their taxes. This episode is full of of great stories and advice that spans entrepreneurship, finances, and life. https://www.linkedin.com/in/isai-bi...
Huge news dropped today regarding student loans. There will be student loan forgiveness! That’s not all, as most people expected, student loan forbearance was extended through December 31st, 2022. Finally, there will be a new income-based repayment plan that will reduce the burden of student loan payments on the remaining balances.The forbearance is pretty self-explanatory, but they included the wording of “final”. They used similar wording with previous extensions but after the forgiveness a...
This was a fun episode to record with my mom, Jessica Casarez, who has been working for the same insurance agency for the last 37 years.Insurance coverage is almost like a foreign language and she does an amazing job and translating and simplifying the information.Topics covered:How much insurance coverage do you need to replace your home?The difference between working with a captive agent and an independent agent.When umbrella coverage is beneficial.Do renters need renters insurance?What doe...
Dr. Aimee shares important information about fertility. It's her goal to let as many women avoid saying, I wish I would have known sooner.In this episode Dr. Aimee answers the following questions:The importance of understanding your fertilityAlternative options to egg freezingA range of costs associated with egg freezing and alternativesOne important thing men should knowWhat if you don't want kids today....https://twitter.com/_EggWhispererhttps://eggfreezingparty.com/what-is-an-egg-freezing-...
Are you worried about a possible recession? In this episode, I tackle current events that may lead to a recession in 2022 and identify what you need to know to navigate your way through a recession confidently.InflationThe Stock MarketEmploymentInterest RatesHousing Market
Do you need estate documents?I invited my friend and Estate Planning Expert, Will Beyers to shed some light on that answer.Will does a great job summarizing what each document does and provides some context on when and why they will be needed.The documents discussed in this episode are: Wills, Financial Power of Attorney, Medical Power of Attorney, and TrustsWe also dove into the importance of naming a caregiver if you have children, as well as, why most people drag their feet on setting up t...
In her prior career, Kristal worked as a Software Engineer at BuzzFeed and Marqeta, Director of Operations at a cryptocurrency startup, and as an assistant to executives and leadership at Uber, Affirm, and Sledgehammer Games. She served the largest Latinx in tech community, Techqueria, as a community leader and helped to grow and nurture the community by thousands of additional members.https://joinyearone.iohttps://www.linkedin.com/in/kgarcia4/https://twitter.com/kristal_s_kristal@joinye...
Do you know all of the amazing benefits and flexibility of an HSA (Health Savings Account)?The best features are that they are triple tax-free:Tax-Reduction on contributionsTax-Free growthTax-Free withdrawalsThat's not all. There could be real savings just by comparing a high deductible health plan to a pricier option.In this episode, I tackle a framework I use to help clients make an informed decision on whether they should use an HSA.
Purchasing a home is one of the biggest financial decisions you'll ever make, but the significant debt you accrue in the form of a mortgage can sometimes carry a lot of emotional baggage.In this episode, I acknowledge some of the reasons people want to pay off their mortgages, but my recommendation a majority of the time is to NOT pay off their mortgage faster than they need to.I'll cover 5 major reasons NOT to pay off your mortgage early. The 4th one is maybe one of the biggest reasons, but ...
Jonathan Jennings is a software engineer who works in the AR, VR, and videogame spaces and currently helming his indie VR game at Weird Kid Studios named Galactic Bar fight. He’s been a guest lecturer at University and National Conferences. His first published essay Black Unicorn is available to read in the book Game Devs & Others: Tales From The Margins. He’s been involved in multiple development roles including rapid prototyping, core mechanic programming, user Interface engineering, mu...
The Backdoor ROTH is an advanced planning strategy for high earners and big savers. Should you use a Backdoor ROTH?Two reasons why you'd use a Backdoor ROTH strategy is:1. You are phased out of making ROTH Contributions due to your high income.2. You are a big saver and have already maxed out your 401(k) contributionsThe process to implement a Backdoor ROTH will depend on if you are doing the smaller Backoor ROTH or the MEGA Backoor ROTH.I also cover the biggest mistake I see when people atte...
My guest today is Gina Covarrubias, Certified Life Coach, B.S. Aeronautical & Astronautical Engineering (Purdue University), M.S. Mechanical Engineering (University of Utah)Her distinctive background blends life coaching expertise with 12+ years engineering/technology experience in government, academia and corporate aerospace.Gina founded Deliberate Doing LLC, an exclusive STEM coaching service dedicated to helping technical professionals defeat career despair. She solves the common STEM ...
Join me as I interview a real estate expert, Patrick Soukup of Soukup Real Estate Services in Fort Collins, CO.We cover a wide range of topics from real estate as an investment and personal residence. Patrick also shares his insights on whether we are in a real estate bubble, how to search for a home when you're out of state, and his real estate investment philosophy. https://www.soukuprealestate.com/our-teamhttps://www.linkedin.com/in/patrick-soukup-cpm-36497225/https://www.youtube...
Orlando shares his journey from finance, Peace Corp, back to finance and then breaking into tech by writing a jingle.Despite having an MBA and finance background, it took him over 8 months to break into tech.To stand out from the crowd, Orlando wrote Jingles and leveraged Twitter to directly connect with companies.Orlando Gomez is a First-gen Mexican-American from Chicago's South Side. Parents are from Guanajuato and his Dad settled here as a steelworker after working the fields in California...
I'm a big fan of 401(k) loans, but they shouldn't be taken out lightly.In this episode, I cover the basic rules of a 401(k) loan, the pros, and the cons.
Josiah Haswell, in addition to being a good friend, is the CoFounder of Sunshower. IO. The first comprehensive, provider-agnostic cloud management platform. In this episode, you will hear how Josiah shifted from corporate tech to being an employee at Startups and ultimately starting up his own companies. Like any business, startup life ebbs and flows, and Josiah shares some of the challenges, he’s faced with his startups over the years.Without further ado, here is Josiah’s interview.Discoveri...
If you are anything like my family, your spending habits have changed significantly during the pandemic. If you managed to maintain employment throughout this whole period, then you may have found that your savings accounts actually increased. Or maybe you are a stress shopper and managed to find more ways to spend money now that you have more time on your hands. Either way, your spending habits are likely to change again as we approach what will be a new normal. How have your ...
Make SMART Financial Moves in 2021We made it to 2021! A year like 2020 stretched us thin in many aspects of our lives and that may have included your finances. If you feel you can improve on your finances in 2021 and want to make it a priority, I want to provide you a framework to get started in 2021. Improving your finances is more than dollars and cents, which is why it is so important to start with a vision... a purpose….. a why…... Call it what you want, but you need to focus on what...
Michael Liendo recorded a live stream with me for this episode. Michael is a self-taught developer who is currently a senior software engineer and AWS community builder. In this episode, Michael shares his career journey and how his family has been a massive motivation in not only breaking into tech but also not settling for positions that are not a good fit, even if it comes with a lot of perks. As well as, the tips and tricks he's used to constantly find the next level of growth o...
Sorry for any spoilers, but this movie came out in 1946 so….A few reasons why this movie has been one of my favorites for most of my adulthood is because I worked at a community bank, similar to the Bailey Bros Building and Loan & when I was 20 one of my close childhood friends passed away. Not a money lesson, but just something interesting that happens early in the movie. The Spanish flu kills Mr. Gowers’s son and although there is nothing financial to talk about that, I just though...
Joe Previte is a developer, a teacher, and creator of Vim for VSCode. In his spare time, he enjoys creating videos for egghead, writing articles relating to coding, and participating in an online meditation study group.Joe shares the details of his journey from his decision to drop out of grad school and pursuing a career as a developer. Be sure to listen to the end where he opens up about the early obstacle he faced that not many people would have been able to overcome. Dropping out of ...
Have you seen the rough estimates that you should have saved at various ages?These rough targets are useful, but may not be entirely accurate to you and your unique circumstances.I cover the importance of at least being aware of targets for the amount of money you should have saved in retirement accounts.Good excuses why you may not be on track early on in your careerWhy the older you get, the more relevant the targets become.And how to catch up if you feel you are not on track to hit your re...
I have Jason Humphrey on the show and I met Jason online originally because he creates a ton of value-packed content on LinkedIn. And when you create awesome content, people tend to like it and share it. And that's how it came across my feed. Jason helps coding Bootcamp, students to land their first high paying job as a professional software developer. And in this episode, Jason talks about his own personal journey where he wasn't as career-focused early on in his career. And how advice ...
Do you struggle with your finances during the holidays? I cover 6 tips to take control over the holiday season.This episode was originally created for a live video challenge I'm doing on my social networks, but I wanted to share it with you!Set a limit (budget) ResearchFree ShippingMake somethingBe presentExperiences over things
Arnold Morales is the son of two immigrants from Honduras. He started his career with a GED and working at a warehouse where he is wasn't happy. Looking for more he pursued a community college and took an aptitude test that steered him towards mechanical engineering. He co-founded his community college's first Engineering Society. Since then he's earned a Masters Degree and is currently working for his dream employer, Boeing.It wasn't a straight shot to Boeing though, he was rejected 5 t...
Justine is a UX/UI Designer and UI Developer on a mission to create a meaningful impact on people’s lives through her craft.She was born and raised in the Philippines. In 2008, she and her family moved to Las Vegas, Nevada, where she attended the University of Nevada, Las Vegas, and received her B.S. in Entertainment Engineering and Design.In the summer of 2012, she was accepted in the internship program at Cirque du Soleil, where she honed her skills as an Automation Technician at the show “...
When it comes to your financial life, it's very easy to rely on the guidance of others, especially since most of our generation were not taught these important topics in school.This episode is to warn you of the financial advice you should BEWARE of as you start to build your financial strategy guide and financial confidence.People and sources who offer advice solicited or not.FamilyFriendsCoworkersSalespeopleSocial MediaNewsBooksPodcastsExpertsFortune cookiesWhy not all advice is created equ...
Josh shares his awesome story on his path into tech. Early on Josh showed an interest for tech and started taking college courses, but a conversation changed his career trajectory.Josh decided to not pursue a tech career and bounced around with different jobs and ended up getting into trouble. He talks about the challenges of finding a job in tech with a felony.Even with the hurdle of having a felony, Josh shared his story on Twitter and it became a really great experience for him.He also sha...
I share my personal story of quitting my job to start my business, Level Up Financial Planning.While working in a position many would consider a dream position, with a 6-month-old at home, I quit my job. It was the scariest decision I ever made.In addition to my story, I share a few of the financial steps I took before quitting and a couple of things I wish I had done differently.Job huntingLeaving your teamReducing expensesBuilding a planImportance of spouses supportHealth insuranceBeing sma...
Leo Yockey is a Software Engineer, Writer, and Speaker from Los Angeles. He runs a digital agency called MangoBass Consulting and is an advocate for underrepresented people in the tech industry.Leo shares his unique story and perspective as a transgender black man in tech.Making a career changeSelf-taught and coding bootcamp resourcesImportance of a mentorReal-world example of systemic racismCreating multiple streams of incomeMonetizing your expertiseUnlearning money mythsBreaking the cycleBu...
Credit Cards Are Awesome!Regardless of what you may have heard, credit cards are pretty awesome financial tools. It’s one of the best forms of credit that you can access and use to help you reach your financial goals.Unfortunately, credit cards can also be one of the biggest culprits of financial chaos. Credit cards are a tool. They are not evil, though you’re open to criticize credit card companies and other financial institutions.Maybe not an expert level, but being able to maximize th...
Will Johnson is a self-taught developer who broke into tech using Twitter. As you can imagine, his path to break into tech wasn't easy. He used a lot of different ways to learn and work towards his goals of becoming a developer so that he could create a comfortable life for his family.Here are the topics we cover in Will's interviewWill's path as a self-taught developerRepeating courses to solidify knowledgeThe struggle of having no experience (being destroyed by lost opportunities)Knowing wh...
If college planning is important to you, then you want to listen to this episode to understand how a 529 plan may be a solution to help you maximize your college savings.529 Tax benefits529 Rules Impact on financial aidAlternative Savings StrategiesWhat if my child doesn’t go to college?What if my child receives a full ride?Fee-Only Financial PlannerSubscribeVideo
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