KnowDinero 📈💵

Paid off $34K credit card debt | Built a six-figure investment portfolio & learned good financial habits | I want you to be debt free | Follow to build wealth👆

[KnowDinero 📈💵 @KnowDinero]

401Ks began in 1978 and have survived many market crashes

- Black Monday 1987
- Early 1990s Recession
- 2000 Dot-com Bubble
- 2008 Financial Crisis
- 2020 Covid Crash

Anyone saying your 401K is forever destroyed is nothing more than spreading doom and gloom

[KnowDinero 📈💵 @KnowDinero]

@theboymanager @StJsn1 _

[KnowDinero 📈💵 @KnowDinero]

For 5 years now I have maxed out my IRA, 401K and HSA

I plan to do the same this year

Max contribution limits for 2025 👇

401K - $23,500
IRA - $7,000
HSA - $4,300

Are you planning to max these out this year?

[KnowDinero 📈💵 @KnowDinero]

Honest truth.

If you got scared with yesterday’s stock market crash and sold, you won’t ever master the long-term game it is.

[KnowDinero 📈💵 @KnowDinero]

@money_cruncher Unsure what Harris’ stance will be, but Biden said he would not expire those making less than $400,000. I anticipate a similar response…we’ll see.

Gotta note the details. Not every tax cut from 2017 may change.

[KnowDinero 📈💵 @KnowDinero]

New Hampshire:
Quintessential New England charm without state income tax, but with high property taxes and cold winters.

[KnowDinero 📈💵 @KnowDinero]

These US States have NO state income tax:

- Texas
- Alaska
- Florida
- Nevada
- Wyoming
- Tennessee
- Washington
- South Dakota
- New Hampshire

So I asked AI what’s the best and worst thing about living there.👇

[KnowDinero 📈💵 @KnowDinero]

Washington:
A tech hub amidst lush landscapes, though it has a high cost of living and frequent rain.

South Dakota:
Historic landmarks and the Black Hills, set against harsh winters and remote locations.

[KnowDinero 📈💵 @KnowDinero]

@theficouple Anything financially a parent can do to help build wealth for their child is a win in my book.

However, the typical American won’t have $5,000 sitting around to just put into the S&P 500 in a single day.

[KnowDinero 📈💵 @KnowDinero]

There was an earthquake in NYC…

and I didn’t even feel it because I was walking on the office treadmill contributing to my 2024 IRA.

[KnowDinero 📈💵 @KnowDinero]

If you can't pay your credit card bill off in full each month, you cannot afford the lifestyle you are living.

Honest truth.

[KnowDinero 📈💵 @KnowDinero]

Look what Jerome did after announcing the Fed still sees 3 interest rate cuts for 2024. 👀

[KnowDinero 📈💵 @KnowDinero]

Facts! 💰

If you don’t put your money to work, you’ll always struggle with money.

Make your money work for you.

[KnowDinero 📈💵 @KnowDinero]

One strategy to mitigate risk is immediately selling your stock for the 15% discount once the shares are bought.

Most people would jump at the opportunity for an instant 15% return on their money.

👉 If your company offers an ESPP, would you participate?

[KnowDinero 📈💵 @KnowDinero]

My company offers an ESPP program and I have taken advantage of it for four years now to make a 15% return on my money.

It has been a great way for me to save money and even replenish my emergency savings.

Here’s a thread to help you navigate the Employee Stock Purchase Plan.

[KnowDinero 📈💵 @KnowDinero]

One risk to keep in mind is that a company's stock price could go down.

You need to understand what you are investing in.