The Middle Class is the backbone of America-But we have to save it! Take ownership of your spending and control of your finances.
Ohio, USA
Joined November 2023
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MidMoneyManagement retweeted
The Roth IRA limit is $7,500 for 2026.
That's $145 a week.
If you invest $145 a week into an S&P 500 index fund for 30 years, you'll spend $225,000 of your own money.
But at retirement you should have $1.4 million.
That’s the power of compound interest.
MidMoneyManagement retweeted
4 Rules for life:
1. No one owes you shit.
2. When in doubt, exercise.
3. It's not your fault but it is your responsibility, 100%.
4. Love yourself but don't use that as an excuse to stay the same.
MidMoneyManagement retweeted
Mature Investor On Drops:
5% : Volatility
10% : Healthy correction
20% : Market a little cheap
35% : Compelling deals
50% : This is MAJOR opportunity
Amateur Investor On Drops:
5% : Market crash
10% : This is the crash
20% : I should not have entered
35% : I thought stocks only go up
50% : Stock market is a scam
MidMoneyManagement retweeted
Setting aside a couple hundred dollars to bet on the Super Bowl?
Chances are it would be more valuable for you to put it in a Roth IRA.
I like to place a few bets, but I automate my investment first.
(Let’s go #Eagles)
#SuperBowlLIX
MidMoneyManagement retweeted
The Roth IRA max is $7,000. That's:
• $585 a month, or
• $135 a week, or
• $20 a day.
Max. Out. Your. Roth. IRA.
MidMoneyManagement retweeted
Broke parents raise broke children.
Here are some of the lessons that wealthy parents teach their children that poor parents do not:
MidMoneyManagement retweeted
You have a good life if you have:
- A Job
- A family
- Food
- Good health
- Peace of mind
- A roof over your head
Be grateful for what you have.
Some people will do anything to have what you have.
MidMoneyManagement retweeted
Just because you can afford something doesn't mean you should buy it.
Never act richer than you are.
MidMoneyManagement retweeted
You can’t win with money or get out of debt while keeping the same lifestyle that got you there.
Earning more money doesn’t automatically make you a better manager of your money. You’ve got to learn to live on a budget, or you’ll always feel stressed with your finances.
A budget is telling your money where to go instead of wondering where it went. If you don’t make a plan for your money, that lack of a plan will forever control you. If you’ve never created a budget before, my budgeting app, EveryDollar, makes budgeting simple.
You can do this!
MidMoneyManagement retweeted
Buy a brand new car and a big house and everyone thinks you have a lot of money
Save, invest, and live below your means and everyone thinks you are broke
MidMoneyManagement retweeted
The Roth IRA max is $7,000 per year.
That's $585 a month.
Or $135 a week.
Or $20 a day.
It will make you a tax-free millionaire.
MidMoneyManagement retweeted
Investing in appreciating assets should be a priority.
Not wanting to impress everyone.
MidMoneyManagement retweeted
Nobody will remember your expensive cars, designer clothes, or large homes at your funeral.
Spend time and make memories with your family, because they will remember.
Live to impact, not to impress.
MidMoneyManagement retweeted
Responsible parents should provide their children with financial literacy, not just buy them gifts.
MidMoneyManagement retweeted
If you waste money today, working will be a burden for years.
If you invest money today, working will be an option for years.
MidMoneyManagement retweeted
If you make $20/hour:
That night out isn't $300; it's 15 hours of your time or 2 days of work.
That car isn't $50,000; it's 2,500 hours of your time or 357 days of work.
Framing purchases in time instead of dollars will help you make better decisions with money.
Always consider opportunity cost.
Your TIME is valuable.