Bad credit can be daunting, especially if you want to make big transactions like leasing a car or buying a house. Some credit cards may be completely barred to you, and you will likely have to pay much higher interest or fees for the credit products you have access to. The good news is that …
This is how Americans spend their money1 (according to a Bureau of Labor Statistics study): Like most aggregates when you’re dealing with hundreds of millions of people, everyone’s spending is likely to be somewhat different from these averages. But directionally, these numbers seem correct to me from an overall point of view. The two most …
Most people don’t know how to accurately assess probabilities and assess risks in their financial planning. As a result, their financial plan is in danger of collapsing as soon as something goes wrong. Which means almost still is collapsing, because there are a million things going on in life that we can’t foresee, that we …
If you’re hoping to retire early, you’ll need to find a way to replace your salary without working. In a traditional model, this means accumulating enough savings to be able to withdraw some of it each year to fund your lifestyle while the rest continues to grow. Unless you win the Powerball, how much should …
This joint early retirement strategy is a ‘terrible idea’, says financial planner Read More »
When it comes to building wealth, entrepreneur Ramit Sethi says it’s important to focus on the big picture. Getty Images No, it’s not about latte — well, at least according to Ramit Sethi, entrepreneur and New York Times Best Seller author I will teach you how to be rich. He says we shouldn’t focus on …
As Americans head to the polls, several key personal finance issues weigh on voters’ minds and wallets. This week, the Federal Reserve enacted its fourth consecutive 0.75 percentage point increase in interest rates to fight inflation, triggering further losses in stock markets. Meanwhile, recession fears are growing, with 84% of Americans worried about how a …
5 key personal finance issues this midterm election – and what they mean for your wallet Read More »
Editor’s Note: This is Part 1 of two parts, Part 1 comprising Lessons 1-2. The second part, with lessons 3 to 5, is More Money Lessons I Learned at 40. As a financial planner, I think about money more than most people. I think about my personal life, the financial decisions I make every day, …
Preparing for retirement has changed significantly over the past few decades. Not only are people living longer due to improved health care, but costs have risen dramatically everywhere. The biggest difference between yesterday’s retiree and today’s retiree is the reduced defined benefit plan – or retirement plan – replaced by defined contribution plans with the …
Opinions expressed by Entrepreneur the contributors are theirs. In generations past, children needed to understand how to balance a checkbook and smooth out a budget. But thanks to modern technology, checkbooks have been replaced by online banking, apps have replaced paper budgets – and the changes don’t stop there. At almost every turn, other new …
