Networth Habits May 4, 2025 News

🟦✴️ NETWORTH HABITS by John Lepore, CPA
Financial Wisdom for Building Generational Wealth

🔷 1. Master the Rule of 72

Want to know how long it takes to double your money?
Use this quick trick:
72 ÷ your interest rate = years to double
💡 Example: Earning 8%? Your money doubles in just 9 years!

🟠 2. Crypto Losses = Tax Savings

Did you know? There are no wash sale rules for crypto… yet.
Take advantage:
✔️ Sell your losing crypto
✔️ Harvest the tax loss
✔️ Buy it right back the same day

Smart move. Real savings.

🔷 3. 457 + 401(k)? YES.

Government or nonprofit employee?
You can max out BOTH a 457 and a 401(k)!
That’s up to $46,000 in tax-deferred contributions for 2025.
🔥 Double your retirement strategy.

🟠 4. New Retirement Boost for Ages 60–63

IRS just changed the game.
If you're age 60–63, you can contribute an extra $11,250 into your 401(k).
➡️ Catch up, stack up, retire strong.

🔷 5. How Far Can Weekly Investing Take You?

At 8% average return:

📈 Slow and steady = serious wealth.

📌 Note: Tax consequences not included. Final value depends on whether investments are held in pre-tax or after-tax accounts.

🟠 6. 📅 Reminder: Enhanced License Deadline

Flying domestically?
You’ll need your REAL ID / Enhanced License by May 7, 2025.
Don't wait—check your wallet and make the appointment!

🔷 7. 💹 Stocks & Cryptos I Like

Here’s what’s on my radar:

📈 Stocks:

• Google (GOOGL)

• Amazon (AMZN)

• Nvidia (NVDA)

• Tesla (TSLA)

💰 Crypto:

• XRP

• Bitcoin

These are long-term conviction plays—do your research.

🟠 8. Learn AI or Get Left Behind

AI isn’t coming—it’s here.
🚀 Learn ChatGPT, Midjourney, automation tools, AI finance...
Invest your time, not just your money.
This is the next industrial revolution.
👉 Start today.

📬 Thanks for reading this edition of Networth Habits.
🎯 Your next best financial habit starts now.
📧 John Lepore, CPA