3 Key Money Math Skills
Key Takeaways Compound interest, computational skills and amortization are the three key money concepts we all need to master. As Einstein observed, compound interest is a saver/investor’s greatest friend and a debtor’s greatest enemy. Creating a budget and sticking to it are essential to building wealth and a secure financial future. Budgeting just takes discipline […]
When Funding Your Child’s Education, Let’s Not Repeat History
Key Takeaways Student debt has doubled over the past seven years. Newly minted 2016 graduates have an average of $37,000 in debt—some have debt loads in the six figures. 529 plans are excellent, tax-advantaged ways for most parents and grandparents to save for a child’s education. Start saving as early as possible in the child’s […]
Capitalism Gets a Bad Rap
Key Takeaways Considering what’s happened during young adults’ lives, it’s not surprising that they are wary of capitalism and financial markets. But, young folks haven’t been around long enough to gain a true long-term perspective. Millennials are already good savers—they just have to become savvier investors and let risk assets and compounding work to their […]
5 Reasons Why Math Matters
Key Takeaways Even if you weren’t a math major, you need basic computational skills and an understanding of compound interest, inflation, amortization and taxes to be a financially responsible adult. As discussed in a previous post, the Rule of 72 is a powerful shorthand way of calculating how many years it will take an investment […]
Financial Literacy—Not an April Fool’s Joke
Key Takeaways April is National Financial Literacy month. It calls attention to how much work people of all ages have to do to improve their money skills. Over 120 million Americans do not have estate plans. It’s never too early to start one. The majority of people in their 70s could run out of money […]
The 10 Essential Facts Affecting Your Future
Key Takeaways Money issues are tough for today’s young adults. It’s not your parents’ or grandparents’ financial reality, but there’s hope if you’re smart. Delaying marriage, home ownership and parenthood has benefits in the short run but can create retirement challenges down the road. Young adults know they need to be much more proactive about […]
Stay Tuned In – Why?
Key Takeaways Your concerns, opportunities and capabilities will be addressed. Unlike older generations, you come from a sharing economy and you’re not afraid to seek advice about financial matters by referencing open forums. The Web offers tons of well-intended personal finance information, but it’s not all from reliable, experienced and trustworthy sources.