Shownotes Transcript
In this episode of the iWealth Podcast, Brad Connors and Mega Matt unpack a simple but powerful concept: iBuckets. What are iBuckets? In short, they’re a structured, goal-based system for organizing your money based on what matters most to you.
Brad explains that iBuckets are all about intentionality. Rather than letting money sit in one big account or just "hoping it all works out," the iBuckets system gives every dollar a job. Whether it’s retirement, travel, college, or even a bucket for future vehicle purchases—each bucket represents a future goal and has an investment strategy that matches the timing and risk tolerance of that goal.
Matt jumps in with his take, describing iBuckets as money earmarked for future intentions. Even if the money isn’t saved yet, naming the bucket sets a vision in motion. It’s a mindset shift—from vague savings to targeted financial progress.
Brad shares a story that sparked the idea years ago: a couple had enough money for their 50th wedding anniversary trip, but since all their money was tied up in the market (and the market was down in 2009), the husband didn’t want to “lose” any by selling. The solution? Have designated accounts for specific goals that are not subject to market volatility—so you can spend confidently when the time comes.
From there, Brad and Matt walk through common iBuckets people use:
- Retirement Bucket (like your 401(k))
- Wedding Bucket for kids or grandkids
- College Savings
- Health Savings Account (HSA)
- Travel Bucket (even broken down by destination!)
- Long-Term Care or Insurance
- Vehicle Bucket
- Even a Starbucks Bucket for everyday spending priorities
The key takeaway? Once you’ve identified what’s important to you, you can align your savings and investments to those specific goals. But more importantly, Brad emphasizes matching risk to timing. A bucket meant to be spent next year shouldn't be invested like a 30-year retirement account.
Another great tip: name your buckets. When your statement arrives and you see “European Travel Fund” or “Grace’s College,” it keeps you connected to your goals. You’re no longer just saving—you’re actively tracking progress toward something meaningful.
The iBuckets system makes financial planning feel less overwhelming and more empowering. It allows you to make progress toward multiple goals at once, without compromising your long-term vision. And when your goals shift or you reach them? You just reassign the funds or start a new bucket.
Whether you’re just starting out or are decades into your financial journey, this episode will help you rethink how you save, invest, and plan with purpose.
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