How To Use Your 401(K) To Pursue Financial Independence | Marie Coleman-Johns & Stephanie Stockwell, Winenance

Yo Quiero Dinero

Jannese Torres

Saving, Entrepreneurship, Business, Investing, Wealth, Personal Finance For Latinas, Personal Finance, Budgeting, Finances, Generational Wealth, Equal Pay, Financial Literacy

4.9 • 607 Ratings

🗓️ 13 June 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 92 is all about how to use your 401(K) to pursue financial independence featuring the Winenance sisters, Marie and Stephanie!

Marie Coleman-Johns and Stephanie Stockwell, aka, the “Sisters of Financial Independence” are personal finance educators and the founders of Winenance. Through their weekly YouTube show and podcast, investing workshops, and blog posts, they help women and people of color spend more intentionally, learn how to invest and grow wealth, and build a life of financial freedom. Having grown up financially insecure, they started out repeating the bad money habits they learned from their parents.

Though they turned things around in their 20s through growing their careers, by their early 30s, they realized that the savings sitting in their bank account wasn’t actually growing, and that wealth still eluded them. They soon found the FIRE movement and learned how to master their 401Ks and invest. Wanting to share the keys to investing with their friends and family, they took what they learned, built a PowerPoint Presentation, and started hosting Winenance Nights.

You can follow these sisters on Instagram, Facebook and Twitter.

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Transcript

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0:00.0	My 401K had been something that I basically avoided in my 20s, even though I had the option to contribute to one.
0:05.7	You know, I didn't because I wanted as much in my paycheck as possible. And so by my 30s, I was like, you know, Marie, you got to get on this train. Like you're not going to be able to work forever. And you don't want to end up like your parents who basically didn't have any retirement savings. And so I signed up for my 401k and quickly found that
0:22.9	it was very confusing to navigate the provider website. And I didn't understand these basic
0:27.4	investing terms because, again, nobody had ever taught me these things. And so instead of running
0:32.0	away from it, which is basically what I did in my 20s, I decided I'm going to go down the rabbit
0:36.1	hole. I'm finally going to figure
0:37.5	this out. You're listening to Yo Quiero Dino, a personal finance podcast for the modern
0:46.0	Latina. I'm your host, Janice Torres, award-winning Latina personal finance expert.
0:51.7	I didn't always have my financial shit together, but when I started
0:54.9	looking for POC-friendly personal finance podcasts, I couldn't find any. And so Yo Quiero Dino was born.
1:01.1	On this show, I'll show you how to make dinero, how to keep your Dinero, and most importantly,
1:06.2	how to make it grow. Each week, I'm connecting you with the most brilliant minds in the world of
1:10.8	money and
1:11.2	business. So you can learn about investing, entrepreneurship, and building wealth. The best part,
1:17.0	I'm dishing up all this knowledge with a sassy side of sason. So if you're ready to be
1:22.1	Poderosa with your dinero, you've come to the right place. Let's dive in.
1:29.0	Hello, my gente.
1:30.3	Welcome back to another episode of Yo Quiro Dinoero, the podcast.
1:33.5	This is your host, Janice.
1:34.7	And today, we're going to be talking about the boomer of retirement accounts.
1:39.0	That's right, the 401K.
1:41.5	Now, the 401K gets shitted on by Gen Z and random people on TikTok as like this
	...

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