Chad Rixse

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Personal Finance, Retirement, Small Business
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““As the co-founder of Millennial Wealth, Chad Rixse primarily works with young professionals in the tech industry, assisting with student loan repayment strategies, tax planning, employee benefits optimization, and cash flow/debt management.””
Firm:

Millennial Wealth, LLC

Job Title:

Co-Founder, Chief Compliance Officer

Biography:

Chad Rixse spent 3 years in the bank-run private wealth management world working primarily with high net worth families and individuals. As much as he enjoyed helping this demographic, he realized that many people, particularly those from his generation, were far too often left behind.

Chad wanted to change that.

Chad's mission in life has always been to help others. As a child, he wanted to become a doctor because he found that helping others was such a rewarding experience for him. Although the medical field did not become his path, he's found another way to fulfill this mission.

The truth is, Chad believes his generation faces a unique set of circumstances. They live in a digital era surrounded by technology and a constant stream of information. Many of them are college educated and burdened with student loans. They lived through, and very well remember, one of the worst financial crises in history. Plus to top it all off, they were taught very little in school about healthy financial habits and preparing for the future.

None of this sat well with Chad. As a Millennial himself, he has experienced many of these struggles first-hand. He knew he had to act. He knew he had to actually do something about it. When he found Levi, it quickly became clear how he was going to make that happen.

Education:

BA, Spanish, University of Washington

Assets Under Management:

$1 million

Fee Structure:

Fixed

CRD Number:

6427741

Disclaimer:

Millennial Wealth is an Investment Adviser registered with the State of Washington. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. We do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. The information provided is subject to change without notice.

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    Career / Compensation, Debt, Financial Planning, Retirement, Retirement Savings
How should I allocate my leftover money at the end of each month?
100% of people found this answer helpful

It depends on your main priorities. If buying a house in the near future is your main priority, saving $400/mo will get you to the $30k you need in 4.5 years. If you want to buy sooner, you'll need to free up more cash flow by either pulling back on your retirement savings or by finding some sort of side hustle to make some extra cash. If buying a home is not your priority, however, I'd be looking at putting that extra cash towards your student loans, particularly the higher interest ones. You can use the debt avalanche method, where you allocate additional payments towards the highest interest-rate loan first until you have that one paid off then use all the money you were paying towards that one to pay towards the next highest interest loan. Mathematically speaking, this is the quickest and cheapest way to get out of debt. If buying a home or paying off your debt is not a priority, then you could save into either your taxable or your 457(b) plan. The 457(b) is tax-deferred and contributions lower your federal gross taxable income. However, right now your marginal tax rate is only 22% and if you were to max out your 457(b) contributions at $18,500/year, you'd still be paying around 22%. I'm going to say at your age, you should be focusing either on the home purchase or paying off your highest interest student loans, perhaps even at the expense of higher contributions to your retirement savings for a couple years. 

April 2018
    Taxes
Should I pay the $1,300 I owe in taxes from my savings account or open a credit card to pay it off?
100% of people found this answer helpful
May 2018
    Financial Planning, Retirement Living, End of Life
When leaving money to our grandchildren for inheritance, do we have to leave a set amount all at once, or can we choose to have different amounts released to them over the years?
100% of people found this answer helpful
May 2018
    Banking, Investing
Are the investors of my startup taking advantage of me?
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April 2018
    Financial Planning, Social Security, Retirement Plans
Can my wife wait to file for her spousal benefit through Social Security until I begin receiving my benefits so that she can receive half of mine?
100% of people found this answer helpful
March 2018