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.
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This episode is brought to you by Ptex Group’s One-Off Clarity Sessions, a game-changer for business owners looking to get unstuck and move forward with confidence.

Whether you're refining your strategy, improving your brand, or navigating a challenge, these expert-led 60-minute strategy sessions give you the clarity and direction you need to move fast and smart.
👉 Book your session today: https://calendly.com/ptex/60-minutes-strategy-meeting-clone
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Listen on Website: https://ptexgroup.com/podcast/business-ops/
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Tauber Solutions!
(845) 322-6500
[email protected]
Join Chaim Tauber’s WhatsApp group:
https://chat.whatsapp.com/DAZlxvd7ToWHlbMyINEnO0
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Episode Timestamps:
00:00 – Intro: Why long-term planning matters
01:04 – Why Chaim avoids Robinhood for long-term investing
04:13 – What’s a brokerage vs. IRA vs. Roth IRA?
08:00 – Opening the right account for simchas
12:00 – How to link your bank and fund your account
15:00 – Setting up multiple accounts (and naming them)
20:00 – Why this is more about discipline than returns
22:00 – How to buy into the S&P 500 via FXAIX
25:00 – How to automate weekly or monthly investments
28:00 – Final advice for parents with multiple kids of different ages
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Practical Pointers:
Start small — even $10 a week can grow with consistency.
Use nicknames in each account so you know what every dollar is for.
Automate everything — from funding to investing — so you stay consistent.
Don’t touch the account. Treat it like it doesn’t exist.
Invest only money you won’t need for at least 5–10 years.