The concept of financial independence isn’t a far-fetched dream! Cultivating financial discipline right from your twenties or even thirties can put you on track with the FIRE (Financial Independence Retire Early) movement. However, most individuals fail to achieve financial independence before their retirement. Now, think that you are 70, and when you look back, you…
8 Reasons You Won’t Achieve Financial Independence Before 70
June 14, 2023
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It’s Almost Time to Resume Student Loan Payments. Not Doing so Could Cost You
NEW YORK—After three years, the pandemic-era freeze on student loan payments will end in late August. It might seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits. More than 40 million Americans will have to start…
Why Are Beef Prices Soaring?
First, it was eggs, and now it’s beef. Just in time for grilling season, beef prices continue to rise. And although the overall economy is contributing to the increase, other factors are at work. With budgets already stretched, the thought of additional costs to your meal is frustrating. But how high are beef prices expected…
You’ll Probably Live Longer Than You Think
June 12, 2023
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Women often don’t score as well as men in surveys of financial literacy. One area where we seem to do better is “longevity literacy,” or understanding how long we’re likely to live. Longevity literacy is essential to smart retirement planning. Overestimate your longevity, and you could retire too late or scrimp too much. Underestimate it…
How One Bad Financial Mistake Cost Me 7 Years Retiring Early, Guaranteed You’re Making It Now
June 7, 2023
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According to the Employee Benefit Research Institute, only 33 percent of Americans feel confident about retiring comfortably. Many individuals and families struggle to secure their financial future, making it essential to be aware of the pitfalls and mistakes that can derail your retirement plans. My story began when I was 25, fresh out of college,…
Pay Down, or Pay Ahead? It Can Be Confusing
Years ago, I learned a lesson I won’t have to learn again. It was that poignant. It was during a time when mortgage interest rates took a nosedive and we benefited by refinancing our high-rate mortgage. The transaction closed in late August with the first payment due in October. Rather than take a month off…
Financial Tips for New College Grads
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed? We asked five money experts to share their best personal finance strategies to help this…
Best Personal Finance Advice for Millionaires From 3 Billionaires
June 3, 2023
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Hitting the million mark, especially if you did it all by yourself, is a huge achievement—both financially and personally. While some people make peace with the millionaire tag, most head towards the next big milestone—becoming a billionaire. However, a lot of people fail to realize that although the difference between a millionaire and a billionaire…
5 Ways to Simplify and Reduce Your Money Clutter
June 1, 2023
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Professional organizers might define household clutter as a pile of unmade decisions. Money clutter is much the same. Those credit cards you no longer use but haven’t closed? That’s money clutter. So is the retirement account you left behind three jobs ago and the financial paperwork you keep but no longer need. Money clutter also…
Do Your Retirement Plans Include Long-Term Care Planning?
Retiring is a step that seniors look forward to. Working days will have ended, and you can begin to live on the money you have saved in various retirement accounts over the years. There are plans to fulfill and trips to make. While no one wants to consider the need for long-term care—have you included…
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