If you’re someone who’s trying to take control of your financial future, especially as a frum parent thinking long-term, this one’s for you.
In this episode of Let’s Talk Business, Meny Hoffman welcomes back Chaim Tauber, a financial coach who previously broke down money mindset and savings. This time, they dive into the how, not the theory, but the actual step-by-step of opening a Fidelity account, setting up multiple accounts for simchas like weddings and bar mitzvahs, and investing responsibly for the long term.
This episode is for people who don’t want to “get rich quick,” but want to save with strategy and purpose.
We walk through the full process: opening an account, choosing between brokerage and retirement options, setting up recurring transfers, linking your bank, and investing into a low-cost index fund like FXAIX (which mirrors the S&P 500).
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This episode is packed with practical insight:
1. Why Robinhood may not be the best choice for long-term savings
2. The difference between brokerage, Roth IRA, and traditional IRA
3. How to set up separate savings accounts for each child — and nickname them accordingly
4. What SPAXX is, and how it works as a money market account
5. The real reason discipline matters more than market timing
Whether you’re just getting started or already saving, this episode breaks down the mechanics and removes the confusion so you can start building wedding funds (or any long-term fund) today.
