The FIRE Movement: Will You Have Enough Money?
Key takeaways Almost every generation has its own counterculture movement that arises out of a desire to escape societal authority. Today, the trending countercultural fad is the FIRE movement, which has inspired many younger people to take an interest in retiring much earlier than their parents or grandparents did. While retiring at age 35 or […]
Do You Have a Plan In Place In Case of Death or Disability?
Key takeaways Mortality and morbidity are two intangible, yet very important and unavoidable topics to think about. Addressing these topics requires a discussion about death as well as potential medical and disability issues. Having life insurance, an estate plan, and medical and disability insurance in place will provide relief to those coping with the death […]
The Importance of Having Family Meetings
Key takeaways 2 million millennials are currently caring for aging parents or other aging loved ones. Having a family meeting with parents, in-laws, or grandparents to discuss their estates and other wishes before they need help is very important. Communication and understanding in this area will go a long way toward reducing the chances of […]
The Grass May not be Greener
Key Takeaways It can be easy to be lured in to moving someplace else when you think you are going to make more money doing the same job. Salaries are higher in big cities and places that are popular to live because the cost of living is higher in these places as well. Before you […]
Saving Later, but Retiring Earlier?
Key Takeaways TD Ameritrade’s recent release of their Millennials and Money survey showed a big difference between the age Millennials expect to retire versus when they will start saving for their retirement. Saving for only 20 years for retirement is hard to do because the compounding effect of money needs longer than that to truly […]
Five Money-Saving Tips for Students
Key Takeaways College can end up costing you a lot more than just tuition these days with all the extras they offer up to get you to spend more of your money. Doing things like sharing an apartment, building a budget, taking part in free activities, using public transportation, and buying used textbooks will help […]
Delaying Your Leap from the Nest
Key Takeaways It might sound strange to be living with your parents at 30, but it can be a good idea to help you defray costs if you have a significant amount of student loan debt. With rent costing anywhere from 30-50% of people’s income, housing is one of the biggest costs in a person’s […]
401(k) Tricks You Probably Don’t Know
Key Takeaways Most people, when they are starting off in the workforce, end up working at a few different jobs for the first few years. Many companies offer matching 401(k) programs, and you can actually roll over one 401(k) at one company to another 401(k) at another company. Most 401(k)s have what’s called a loan […]
Your Money Timeline
Key Takeaways When it comes to investing money, the order in which you invest matters. Before investing in anything, make sure your emergency fund is set up and topped off. It’s important to know what your short, intermediate, and long-term goals are in order to know what assets you should invest in and when.
Scarcity Versus Abundance Mindsets
Key Takeaways A recent Prudential Financial survey of Millennials found that most of them had a rather somber view of their retirement years. Millennials grew up in a time of great technological advancements, but also some very significant events that have shaped a scarcity mindset when it comes to how they feel about the future. […]