Once You Get Money, Upgrade These 10 Things Immediately

Finance-focused Summary (Spending “Upgrades” After Saving/Investing)

The video presents a personal-finance “upgrades” checklist, framed around what to spend money on once you’ve already saved and invested. The goal is positioned as improving life quality (not merely accumulating wealth). Most items are lifestyle-focused, but several directly relate to investing, taxes, and financial planning.

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Key Finance / Investing Recommendations

1) Upgrade #3: Backdoor Roth IRA (for Higher Earners)

Eligibility thresholds cited (limits on direct Roth IRA contributions)

• Single filer: over $165,000
• Married couple: over $246,000

Core method (step-by-step)

1. Create a Traditional IRA
2. Contribute funds to the Traditional IRA
3. Convert the contribution to a Roth IRA in your brokerage account

Explicit cautions

• If you already have an existing Traditional IRA with pre-tax funds, the presenter warns about the “pro rata rule.”
  • This can make the backdoor strategy tax-inefficient or complicated.

Notes / tone of guidance

• The video claims the process is “not illegal” and “pretty easy” when done properly.
• It warns viewers to avoid common mistakes.

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2) Upgrade #4: Hire a CPA to File Taxes (when income/complexity is higher)

Behavioral / market context

• The video claims up to 75% of Americans file their own taxes.
• Breakdown cited:
  • 31% file completely by themselves
  • 44% use tax software such as TurboTax, H&R Block, TaxAct

Reasoning / risk

• DIY software can increase the chance of mistakes (misinterpreting questions or entering incorrect data), which may affect refunds and/or tax outcomes.

Cost / ROI numbers

• CPA cost estimate: $500–$2,000
• Suggested savings benchmark (implied): $3,000–$5,000 if the CPA successfully optimizes taxes

When to consider a CPA

• If earning $150k+
• Or if you have multiple income streams (e.g., a side business)
• Or if returns go beyond simple W-2 filing

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3) Upgrade #8: Consider a Financial Adviser—Prefer Fiduciary, Flat-Fee

When an adviser may help

• Tax and estate planning
• College planning
• Investing guidance
• Acting as a behavioral coach to reduce emotional mistakes, such as:
  • chasing “hot stocks”
  • tinkering
  • panic selling
• Especially helpful when markets are down (example given: down 10%)
• Useful during major life events:
  • marriage
  • having a baby
  • inheritance

How to choose an adviser (criteria/disclosure-style guidance)

• Look for a flat-fee only fiduciary adviser (legally required to act in your best interest)
• Avoid commission-based advisers that earn money by selling products
• Criticism of % assets-under-management fees:
  • the video argues these fees increase as assets increase

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4) Upgrade #9: Education / Certifications to Boost Income (human-capital investing)

Certifications/trainings mentioned (earnings potential)

• CPA, CFA, PMP
• Technical trainings such as:
  • coding boot camps
  • data analytics
  • digital marketing

ROI framework (explicit check)

• Key question: Will the education pay for itself within 1–2 years?
• Example ROI claim (as illustrated by the presenter):
  • $3,000 training could lead to $10,000–$20,000 more per year in earnings (salary increase)

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Other “Upgrade” Items (Lifestyle, Time, Health)

• Upgrade #1: Desk ergonomics

  • Standing desk + second monitor (no direct financial instruments discussed).

• Upgrade #2: Experiences over possessions

  • Cites University of Texas research suggesting experiences create more immediate and longer-lasting happiness than possessions.

• Upgrade #5: Upgrade food quality

  • Framed around health, mental clarity, and productivity.

• Upgrade #6: Buy convenience/services to save time

  • Examples: DoorDash, Uber Eats, wash-and-fold laundry
  • Spending stats (payments.com):
    • Not paycheck-to-paycheck: $237/month on services
    • Paycheck-to-paycheck: $171/month on services

• Upgrade #7: Upgrade health

  • Emphasizes sleep ROI and recovery.
  • Claim: sleeping < 4 hours reduces cancer-fighting cell activity by 72% and increases sickness risk.
  • Mentions recovery tools like Theragun (spelled “Theraun” in subtitles).

• Upgrade #10: Invest in hobbies

  • Framed as fulfillment; mentions hobbies may lead to side hustles or career opportunities.

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Step-by-Step Frameworks Explicitly Shared

Backdoor Roth IRA process

1. Create a Traditional IRA
2. Contribute to the Traditional IRA
3. Don’t invest inside the Traditional IRA (as described)
4. Convert to a Roth IRA in brokerage
5. If you have existing Traditional IRA balances, watch for the pro rata rule to avoid unexpected taxes

Education ROI check

• Estimate whether training/certification costs will be recovered through increased earnings within 1–2 years

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Tickers / Assets / Instruments Mentioned

• No public market tickers (stocks/ETFs/crypto/bonds) were explicitly named.
• Retirement account instruments mentioned:
  • Roth IRA
  • Traditional IRA
• Tax filing software brands (not investment products):
  • TurboTax, H&R Block, TaxAct

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Key Numbers and Explicit Thresholds Mentioned

• Roth IRA direct contribution ineligibility:
  • $165,000 (single)
  • $246,000 (married)
• CPA cost: $500–$2,000
• Suggested tax savings ROI: $3,000–$5,000
• Adviser emotional-decision example: market down 10%
• Services spending (payments.com):
  • $237/month (not paycheck-to-paycheck)
  • $171/month (paycheck-to-paycheck)
• Sleep health claim:
  • sleep < 4 hours → cancer-fighting cell activity down 72%
• Education ROI:
  • payback target: within 1–2 years
  • example: $3,000 training → $10,000–$20,000 more per year

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Disclosures / Disclaimers

• No “not financial advice” disclaimer is shown in the subtitles.
• The presenter uses opinion/experience-based framing (including references like being an ex-financial adviser) and emphasizes fiduciary/fee structures, but no formal legal disclaimer appears in the subtitles.

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Presenters / Sources Mentioned

Sources cited

• Cleveland Clinic (standing desk benefits)
• University of Texas (experiences vs possessions happiness research)
• payments.com (services spending stats)

Concepts referenced without attribution

• pro rata rule (tax concept referenced; no author listed)

Presenter

• The presenter’s name is not explicitly stated in the subtitles.