Money Mentor X

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Money Mentor X

Money Mentor X

@MoneyMentorX

💰 Empowering you to save, invest, and build wealth. 📈 Smart money tips for financial freedom. ⚡ Follow for actionable advice!

Katılım Haziran 2016
121 Takip Edilen98 Takipçiler
Money Mentor X
Money Mentor X@MoneyMentorX·
INVESTING → Fidelity or Vanguard — zero account minimums, best index funds TAXES → IRS Free File — if you earn under $79K, file federal taxes 100% free → FreeTaxUSA — low-cost for everyone else FINANCIAL EDUCATION → Khan Academy (personal finance section) — genuinely excellent and free → This account 😄 — every day, no charge Which tools are you already using? Drop your stack below — I'll tell you what I'd add or swap.
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Money Mentor X
Money Mentor X@MoneyMentorX·
BUDGETING → YNAB ($15/month — worth every penny) → Free alternative: A simple Google Sheet TRACKING NET WORTH → Empower (formerly Personal Capital) — free, tracks everything CREDIT SCORE → Credit Karma — free, updates weekly → Also check your card's built-in credit score tool
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Money Mentor X
Money Mentor X@MoneyMentorX·
8 free (or nearly free) tools every person building wealth should be using. Save this list: 🧵
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Money Mentor X
Money Mentor X@MoneyMentorX·
The second-best time to plant a tree is today. Not when you get a raise. Not when the market dips. Not when you 'feel ready.' Today. What financial tree are you planting right now? Drop it below — could be an investment, a debt payoff, an emergency fund. Whatever it is, name it. Making it public makes it real. 🌱
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Money Mentor X
Money Mentor X@MoneyMentorX·
The 'tree' is $200/month invested at 25. At 45: ~$104,000 At 55: ~$243,000 At 65: ~$525,000 The shade is the freedom to retire when YOU want. To work on what YOU love. To never panic about a layoff again. The tree doesn't judge when you plant it. It just starts growing.
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Money Mentor X
Money Mentor X@MoneyMentorX·
'Someone is sitting in the shade today because someone planted a tree 20 years ago.' — Warren Buffett Financial translation: someone is financially free today because they invested in their 20s.
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Money Mentor X
Money Mentor X@MoneyMentorX·
4. USE A DEPENDENT CARE FSA If you pay for childcare or elder care — you can contribute up to $5,000 pre-tax. On a $5,000 contribution at a 22% bracket = $1,100 saved. 5. TAX-LOSS HARVESTING If you have investments that are down, selling them realizes a loss you can use to offset gains. You can deduct up to $3,000 against ordinary income per year. 6. CONTRIBUTE TO A TRADITIONAL IRA (if eligible) Up to $7,000/year. Fully deductible if you meet income thresholds. Which of these are you NOT doing? I'll bet it's at least 2. Reply with your situation — I'll tell you which one to tackle first.
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Money Mentor X
Money Mentor X@MoneyMentorX·
3. CLAIM EVERY DEDUCTION Home office (if self-employed) Student loan interest Charitable donations Mileage for business Education expenses Most people take the standard deduction and miss thousands.
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Money Mentor X
Money Mentor X@MoneyMentorX·
Taxes don't have to eat your paycheck. 6 legal ways to pay less — that most people ignore: 🧵
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Money Mentor X
Money Mentor X@MoneyMentorX·
The question isn't 'did I stay in budget?' The question is 'did I spend money the way someone who is building wealth would spend it?' One question is about restriction. The other is about identity. Do you use a budgeting app? Tell me which one — and I'll give you my honest take on whether it's worth keeping.
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Money Mentor X
Money Mentor X@MoneyMentorX·
What actually works: A weekly 10-minute 'money date' with yourself. Every Sunday: 1. Open your bank app 2. Look at every transaction — no judgment 3. Ask: 'Does this spending reflect my values?' 4. Adjust next week's behavior by ONE thing That's it. No app required.
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Money Mentor X
Money Mentor X@MoneyMentorX·
Hot take: budgeting apps are mostly a waste of time. Mint. YNAB. Every app ever. Here's the one thing that actually works instead:
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Arthur MacWaters
Arthur MacWaters@ArthurMacwaters·
In 1913, only 1% of households filed income tax Now, 100% do. Every time a tax scheme is created, it starts with "just the rich" and quickly applies to everyone. Every time. California will seize assets of every citizen if this passes. Not income, assets. Your house. Your furniture. This would end the Golden State.
Arthur MacWaters tweet media
Chamath Palihapitiya@chamath

As you go to work today and settle into the week, please study the form below. You will soon need to fill this out EVERY year and tell the government what you own and then allow them to tell you how much its worth. That is the framework that is enabled by the Trojan Horse "Billionaire Tax" that is trying to get passed. Give them credit: they cleverly use Billionaires as the hook, but build in the language and the framework that will allow the Legislature to simply extend the tax to everyone and make it yearly. And this is where the form below comes in... In this case, ask yourself, will it be you or the Billionaires that will be able to fill this out properly and avoid penalties. As much as Billionaires can be pushed to do more for society, we all know that they have the infrastructure to manage these kinds of disclosures...middle class Californians do not and they will be the ones that get penalized in the end.

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Money Mentor X
Money Mentor X@MoneyMentorX·
Mistake 4: Ignoring life insurance. If someone depends on your income — you need term life insurance. 30-year term policy for a healthy 35-year-old: ~$30-$50/month for $500K coverage. Fix: Get a quote. It's cheaper than you think. Mistake 5: Comparing your finances to friends and peers. Social media shows highlight reels. Most 'wealthy-looking' peers are financed. Fix: Compare yourself only to your past self. Track your own net worth monthly. Which mistake stung the most? I made #2 for 3 years straight before I caught it.
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Money Mentor X
Money Mentor X@MoneyMentorX·
Mistake 3: No beneficiaries on your accounts. If you die without named beneficiaries, your money goes to probate court — not your family. Fix: Log into every financial account you own and add a beneficiary. Takes 5 minutes. Do it this weekend.
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Money Mentor X
Money Mentor X@MoneyMentorX·
The 5 biggest money mistakes people make in their 30s. (And how to fix each one — even if you've already made it) 🧵
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