We have talked about many retirement planning issues. It is time to determine how much money do you need in order to be able to retire. Many factors influence the retirement decision; however, we have assembled a table that will highlight some parameters and provide some guidance. Assumptions: Annual Income $70,000 Inflation 3.5% Earnings Rate […]
Putting together this article was really inspired by a friend of mine winning the lottery. There are scenarios that happen every day to a lot of people. They receive an inheritance, a big bonus at work, a raise or they win the lottery. There’s a lot of stress and anxiety that can accompany the joy […]
Most people think the stock market is only for the wealthy. In fact, I felt the same way until recently. I thought I needed thousands of dollars to start investing. That’s what the movies tell us, right? Only people who have thousands of dollars lying around can reap the benefits of investing in stock. This […]
Close to 50 million Americans have some form of student loan debt, totaling close to $1.5 trillion at the end of 2018. For the first time in history, this debt is higher than credit card debt or auto loans. All of this is to say that if you have student debt, you’re far from alone […]
As a matter of fact, it is universally accepted that the higher a person’s credit score is, the lower the risk that person poses to a lender and therefore the lower rates of interest that person will receive with credit. On the flip side of the coin, the lower a person’s credit score, the higher […]
Should a person find themselves in financial difficulty for whatever reason, whether it be through redundancy, illness or another factor and they cannot maintain their mortgage repayments, that person may consider a ‘deed I lieu of foreclosure’ should they be unable to either sell their property or work out a plan to resolve the situation. If a […]
Credit problems seem to flourish lately. Debt can be the bi-product of credit card spending or from online personal loans that were not paid back on time. While the act of fixing a person’s credit completely may not be realistic, there are important steps that can be taken to certainly improve the credit history and therefore […]
Ironically to obtain a credit score from most leading credit bureaus such as Experian, Equifax or Trans Union online, a credit card is required to order the report. There are alternatives however and it is possible to find out a credit score without a credit card. Firstly free information can be found locally by using credit agencies […]
Traditional banking institutions are facing three major trends and market forces that have a catalyzed a bunch of new consumer banking products and services. First, they are realizing that their trading divisions are best focused on automated trading practices. Second, they’re realizing how important and profitable their consumer banking divisions have become. And third, banks […]
A good credit score is simply a rating applied to a potential borrower of credit that tries to define whether that person is low, medium or high risk with regard to offering credit. Credit scores vary from company to company, country to country. However, somebody with a good credit score will attract better interest rates […]
A credit score alone is not the only information that a potential mortgage lender will look at to determine whether or not to process an application. History of outstanding debts and the fact of a person having steady and a long history of income are other major contributors. However the credit score will likely be […]
Some thirty years ago, the average home and household size allowed for 675 sq. ft. per person. Today, that number has crept up to just over 900 sq. ft person. There a lot of ink spilled nowadays between the competing philosophies of suburban McMansions and minimalist tiny-house living. What’s talked about less, even though it […]
If you have a smartphone (and who doesn’t at this point), you’ve probably visited a social media app. These platforms allow individuals to present curated versions of their lives; users post luxurious locations, gourmet meals, and daily latte pictures in order to portray a specific image of themselves. For those of us who aren’t paid for using […]
Thinking about building your savings can seem overwhelming—especially if you’ve just paid your monthly bills. Taking more money out of your paycheck, even if it’s just to put into a savings account, can feel impossible. While there’s no magic solution to increasing your savings, there are several steps you can take to make the process […]
People around the world are trying to gain control of their financial lives and spending habits. As a result, more individuals are turning to the “Buy Nothing New Challenge” as a way to curb spending and remain mindful. The originator of this idea, The Happy Philosopher, first experimented with the idea of not buying any […]
If you’re a high school upperclassman or recently-graduated, congratulations! You’ve hit one of the first large, professional milestones in your life, and you have something to celebrate. If you’re independently researching college financial options and strategies, I’m proud of you—you’re already more proactive than most of your peers. While it’s easy to get caught up […]
For parents, college is a simultaneously exciting and daunting enterprise. On one side of the creek, you’ve instilled within your child a sense of adventure and a love of education—good job! On the other, you may have just signed you, your graduate, and the family up for decades of loan payments and debt mitigation. That […]
When you think about how to save money, spend it wisely, or invest it wisely, those are the big levers to financial success and freedom. However, people often miss some crucial moments to save or make sure they are in good shape, and they are very common moments that I want to mention. #1 Accounting […]
I hear this quite a bit. People see investors who talk openly about their strategies and hidden in their discussion is how much cash they keep on hand. It’s usually a throwaway comment, which is probably why people think they are really missing something as it comes off like something that everyone knows. Here are […]
Deciding when to retire is never easy. You need to have a firm grasp on what your current living expenses are and what your future living expenses may look like. Even then, it’s an exercise that based in the fundamental uncertainty that is life and mortality. Sure, there are certain kinds of data you can […]
