"An investment in knowledge pays the best interest." ~ Benjamin Franklin
Women and Money: Taking Charge of Your Financial Future
Women have more opportunities today to achieve financial success than ever before.
Yet, on their path to financial security, women often face obstacles that their male counterparts don’t. Let’s look at some of these challenges.
The Latte Habit
Welcome to the Latte Habit, a story about how little things can add up over time. Let’s assume you love lattes.
In fact, every day on your way to work, you stop to get one.
And every afternoon, you take a quick break and get another. The lattes cost about $4 each, which means you spend $8 every workday on your habit.
Wealth Building Strategies For Henry's
Are you a HENRY? That's a playful acronym that stands for "high earner, not rich yet" – an apt description of young and highly educated professionals who have substantial incomes but little or no savings. HENRYs generally have enviable career prospects.
Saving Carol
A fiscally responsible young fellow, faithfully setting aside money each month in your retirement accounts. You were diligent in following your financial plan and seeking your advisor’s counsel.”
Taking A Financial Inventory
Taking a financial inventory can be done by anyone, at any time. It’s a good first step to getting your financial house in order, whatever life stage you’re in.
To start, list your monthly household income and expenses. You should know how much you have coming in and how much you have going out.
Rule Oo 72
The Rule of 72 is a simple rule that you can use to estimate how long it will take for your money to double.
For example, if you have $5,000 today, how long will it take to reach $10,000?
You can use the Rule of 72 to find out.
New Simplified FAFSA for 2024-2025
The Free Application for Federal Student Aid — commonly known as the FAFSA — has been extensively redesigned for the 2024‒2025 school year.
Because of the changes, the new FAFSA won’t open as usual on October 1st this year but will be delayed until December.
4 Things To Do In The 4 Years Before College
Paying for college is a big financial undertaking. Next to buying a home, it’s one of the largest purchases most parents will make.
The overall goal is to find a well-matched school and come out with the least amount of family debt.
College Net Price Calculators
If you have a son or daughter who’s looking at colleges, you might be interested to know whether financial aid will be available. A good way to find out is by looking at a college’s net price calculator.
Every college has one on its website.
The Road to Retirement Can Begin at Work
What’s your dream for retirement? Traveling to exotic locales, more time to pursue hobbies or a business idea, or maybe just relaxing and having fun with family and friends? Most of us dream of a retirement where our time is our own, and we can do whatever we want.
But when you consider how you’ll afford those dreams, the picture may not be so rosy.
Should You Pay Off Debt or Save for Retirement?
Should you pay off debt or invest through your employer-sponsored retirement savings plan?
That’s an excellent question. Paying off debt and investing for your future are both very
important financial goals. However, the answer is not easy– what’s right for one person may not be right for another.
The Basics of Social Security Retirement Benefits
Social Security makes up a large portion of retirement income for many retirees. How much you receive from Social Security will depend on several factors, including how long you work, how much you earn, and your age when you begin claiming benefits.
Social Security calculates your basic retirement benefit based on your highest 35 years of earnings. This is the amount you would receive at your full retirement age.
Are Your Investment Decisions Influenced by Emotions?
Researchers in the field of behavioral finance study how personal emotions and other cognitive factors can influence financial decision-making.
What they’ve discovered is that people don’t always make wise choices when it comes to their money.
The Cost of Waiting to Invest: Effect on Your Wallet Tomorrow
It can be easy to want to wait for a better time to begin investing.
But waiting too long can make your nest egg much, much smaller.
That’s because money compounds over time, so the longer it's invested, the more opportunity it has to grow.
Inflation: The Sneaky Thief
When putting together a strategy to pursue a comfortable retirement, you’ll want to consider many factors. One of them is inflation. Why?
Because inflation can be like a thief who sneaks into your portfolio, robbing your money’s purchasing power over a period of years.
"Your future is created by what you do today, not tomorrow." ~ Robert Kiyosaki"