My passion is Financial Literacy - Helping people make really good money decisions. Licensed Insurance, Securities, Certified Financial Education Instructor.
Knoxville, TN
Joined February 2020
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7 Strategies of Financially Secure People:
1️⃣ Get organized
2️⃣ Protection First
3️⃣ Save 15-20%
4️⃣ No Bad Debt
5️⃣ Proper Housing Cost
6️⃣ Budgeted Lifestyle
7️⃣ Proper Legal Documents
/Retweet Please! – at Farragut, TN
myFinancialExcellence retweeted
BREAKING: Fulton County, Georgia, acknowledges that 3,600 ballots from the 2020 election audit were duplicated; now the discrepancy has been turned over to the GA Attorney General for investigation.
Another “right with conspiracy” comes true!
myFinancialExcellence retweeted
JUST IN: Mortgage demand is now down 50% from pre-pandemic levels and at its lowest level since 1994.
From its peak in 2021, mortgage demand is down ~64%.
Current mortgage demand is ~75% below the 2005 peak.
The most incredible part of this?
Mortgage rates are still only at their historical average.
Housing market activity is coming to a halt.
myFinancialExcellence retweeted
🚨Breaking Tax News🚨
Retirement-related inflation adjustments have just been released by the IRS. Key numbers for 2024 include...
🔸IRA contribution limit: $7,000 (⬆ $500)
🔸401(k) salary deferral limit: $23,000 (⬆ $500)
🔸Max SEP IRA contribution: $69,000 (⬆ $3,000)
🔸Max QCD: $105,000 (⬆ $5,000)
🔸Max one-time QCD to split interest entity: $53,000 (⬆ $3,000)
🔸IRA catch-up ($1,000), 401(k) catch-up (($7,500), max QLAC ($200,000) all remain unchanged all remain unchanged.
For full list of adjustments, see: irs.gov/pub/irs-drop/n-23-75…
myFinancialExcellence retweeted
"Homes unaffordable in 99% of nation for average American"
A lot of regular people ask me why I care so much about dry topics like monetary policy, debt & fiscal stimulus
THIS is why
It's because they impact our destiny far more than most realize
cbsnews.com/news/homes-for-s…
It’s just … unbelievable. – at Farragut, TN
Great (and funny!) thread here by @Gary_Brode that will have you laughing through the tears at how hopelessly buried the US is in debt
myFinancialExcellence retweeted
The capital gain exclusion amount on home sales has never been indexed for inflation. Since 1997! I wrote about that, and the importance of keeping good records on home improvements. morningstar.com/personal-fin…
Thanks for the analysis. – at Farragut, TN
While recession looks likely by April 2024, don't be caught by surprise if stocks surge (and bonds slump) between now & then says data analysis maven extraordinaire Darius Dale @DariusDale42
History shows that stocks often boom in the final months before recession hits
There is more financial information available at our fingertips than ever before yet I see fewer and fewer examples of "financial success" in personal planning.
It's because information isn't knowledge. Financial Knowledge is "CORRECT BELIEF" about how money really works.
Proper Insurance protection - an often overlooked part of personal finance and especially here on FinTwit and all the "gurus" holding themselves out as experts.
I have a saying - Protection First, Full and Forever.
Fintwit:
“Invest in this or that to be rich. It’s easy - you are stupid if you don’t”.
Ever notice actual financial professionals who can actually affect a security or asset doesn’t do this?
Only unlicensed and unregulated amateurs on here. – at Farragut, TN
Most people
Complicate personal finance.
My blog points out 7 simple essentials to financial security.
myfinancialexcellence.com/bl… – at Farragut, TN
myFinancialExcellence retweeted
Important. 👇🏻
My latest:
Congress is forcing higher earners to forgo a big tax deduction and put some savings into Roth 401(k) plans.
But that could be for the best, especially if it helps prevent widows and widowers from facing huge tax increases.
wsj.com/articles/congress-en…
Fantastic veterans breakfast - my group was able to donate the food for over 50 veterans.
Pictured here is a quilt donation for a veteran - wrapped in the love of a grateful nation!
#patriotism #Veteransfirst
FinTwit tossing around the 4% rule as if it’s some kind of birthright.
Sequence of return risk is real. Ie 2000-2010.
forbes.com/sites/robertpagli… – at Farragut, TN
Headed out to help feed the veterans at a Vet Breakfast in Knoxville.
Donating some American flags while I’m at it. – at Farragut, TN
While personal credit card debt topped 1 trillion…
…Hardship withdrawals from 401k plans surged 36% in the second quarter of 2023 over 2022 according to Bank of America (representing 4 million participants as a statistical pool). – at Farragut, TN
Traditional budgets kind of suck if you think about it.
The Cash Flow Pattern is much better.
#budgeting
myfinancialexcellence.com/bl… – at Farragut, TN