I Have an Emergency Fund and Save for Retirement. What Should I Do Next?

On this episode of the Money Confidential podcast, host Stefanie O’Connell Rodriguez turns to certified financial planner Douglas Boneparth about how to prioritize your savings and investments and what to consider after you’ve maxed out your retirement accounts.

piggy bank and life preserver
Photo: Olivia Barr

Every Monday on the Money Confidential podcast, host Stefanie O'Connell Rodriguez, a nationally recognized money expert, delves into your (confidential) money problems and delivers smart, practical, and completely doable solutions that will help you work toward your ultimate financial goals. This is the place to come for real talk about money—and real solutions that actually work.

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On This Episode

Once you've paid off your debt, established an emergency fund, and started investing for retirement, you've got your financial fundamentals in place—but is it enough to afford the future you want for yourself? And if not, what should you do next? This week, Stefanie interviews certified financial planner Douglas Boneparth about how to prioritize your savings and investments and what to consider after you've maxed out your retirement accounts.

Meet Our Caller

"Ashley" is a 36-year-old listener from the East Coast. In 2014, she started a spreadsheet to track her financial goals and progress—and she's been doing well. She has an emergency fund and saves for retirement, but she still gets caught up in wondering if she's doing enough right now to feel secure later on.

Anonymous Caller "Ashley"

"I feel like even if I am financially savvy, there are so many people out there who are more financially savvy. There's still an imposter syndrome of like, I'm always playing catch up. To what? I don't know, but I'm not there yet."

—Anonymous Caller "Ashley"

Meet Host Stefanie O'Connell Rodriguez

Money confidential podcast - host, Stefanie O'Connell Rodriguez
Caroline White Photography

Stefanie is a nationally recognized personal finance expert ready to talk work, worth, and money with unapologetically ambitious women. Her work has been featured in The Wall Street Journal, The New York Times, USA Today, Cosmopolitan, Glamour, and Oprah Magazine, and Stefanie has appeared on ABC World News, CBSN, Fox & Friends, Fox Business, Bloomberg, The Dr. Oz Show, The Doctors, and more to share her smart, practical solutions to any money problem.

Meet Our Expert, Douglas Boneparth

Douglas Boneparth
Courtesy of Douglas Boneparth

Douglas Boneparth is a certified financial planner and president of Bona Fide Wealth, a wealth management firm for millennials, young professionals, and entrepreneurs. Douglas speaks across New York City, including engagements at New York University and Fordham University, and partners with organizations like Public.com, SoFi, and Blue Nile. He is also active in W!se, a New York City non-profit that teaches financial life skills to high school students.

Advice From the Episode

Douglas Boneparth

"Try your best to keep your eye on the prize and ask the even headier question: What is it that you really want for yourself?"

—Douglas Boneparth
  • Quantify your financial goals by time and value. "When do you want it? How much is it going to cost? ... And then, prioritization, the third step, which is, of the goals you have for yourself, which one is the most important to you?" —Douglas
  • "Mastering cash flow" is another important part of staying on top of your goals. —Douglas

Links and Resources

Download the transcript for this episode.

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