6 Reasons Why It’s So Hard To Get Out of Debt
.6 Reasons Why It’s So Hard To Get Out of Debt
Cynthia Measom June 30, 2021
Getting out of debt isn't easy. It requires a lifestyle shift. Sometimes, you have to make a small change in the way you handle your finances -- and sometimes a big one.
If your New Year's resolution for 2021 was focused on getting out of debt, you may not have made much headway. This past year has been financially devastating for many families; and despite some assistance from the federal government, the Democrat-Republican congressional divide has slowed up stimulus for individuals and businesses alike.
How China’s Digital Currency Could Challenge the Almighty Dollar
.How China’s Digital Currency Could Challenge the Almighty Dollar
Charlie Campbell Wed, August 11, 2021
Every morning, Mei Yi waves goodbye to his wife and 3-year-old son and sets off for his finance job in central Beijing, riding into town by public bike share. Like most urban Chinese, the 37-year-old has long abandoned cash and instead pays for his commute—and a lunchtime bite from a convenience store in his office building—with a flash of a QR code on his smartphone screen.
In recent weeks, however, Mei has jettisoned the Alipay mobile-payment app run by Ant Group, an affiliate of e-commerce behemoth Alibaba, for a digital wallet of renminbi (RMB), as China’s currency is called. The wallet is issued as a pilot project by the People’s Bank of China (PBOC), the country’s central bank. “It’s quite convenient to use, but there are no outstanding features to replace mainstream payment systems such as Alipay,” shrugs Mei. “For individuals, at least, any advantages aren’t that obvious.”
Perhaps not. But that tweak in Mei’s daily routine portends a seismic shift in how every person around the world will soon be handling money.
Planning To Retire? Here’s A List Of At Least 14 Things To Account For First
.Planning To Retire? Here’s A List Of At Least 14 Things To Account For First
Alessandra Malito Tue, August 10, 2021
Retirement requires an enormous amount of planning, affecting not only how much money to put aside for old age but how to spend and maintain it.
Retirement Tip of the Week: When planning for retirement, especially if you plan to retire soon, make a list of expenses you expect to have — as well as any other variables that will affect your financial picture. Compare it to your income.
9 Easy Ways to Be Fiscally Responsible
.9 Easy Ways to Be Fiscally Responsible
Jacqueline Sanchez June 30, 2021
For some, it's surprising the amount of consumer and student loan debt a person has. This financial situation is a future you likely won't want for your children. So, "How do I prepare my children for the future and be fiscally responsible?"
This simple question of "How?" can unlock the way you think about money. It often isn't enough to graduate college and work a stable career.
7 Mistakes People Make When Choosing a Financial Advisor
.7 Mistakes People Make When Choosing a Financial Advisor
August 11, 2021
Choosing a financial advisor is a major life decision that can determine your financial trajectory for years to come. A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.1
The value of working with a financial advisor varies by person and advisors are legally prohibited from promising returns, but research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.6
6 Reasons Why It’s So Hard To Get Out of Debt
.6 Reasons Why It’s So Hard To Get Out of Debt
Cynthia Measom June 30, 2021
Getting out of debt isn't easy. It requires a lifestyle shift. Sometimes, you have to make a small change in the way you handle your finances -- and sometimes a big one.
If your New Year's resolution for 2021 was focused on getting out of debt, you may not have made much headway. This past year has been financially devastating for many families; and despite some assistance from the federal government, the Democrat-Republican congressional divide has slowed up stimulus for individuals and businesses alike.
13 Tips That'll Truly Make All The Difference When Buying A Home
.Homeowners Shared 13 Tips That'll Truly Make All The Difference When Buying A Home
"Bottom line: If you’re happy in your rented apartment, STAY in your rented apartment."
by Jasmin Suknanan
We recently published a post on reasons why people say they regretted buying their home. And let us tell you, people had *a lot* to say.
But we also noticed people sharing some useful home-buying tips that can actually prevent new homeowners from having some of those regrets. So we rounded up some of those tips below! Here are the best ones:
1. "Equity, equity, equity. Do your research, and know what is important to you. Get a good real estate agent who really wants what’s best for you, not just the quick sale for commissions."
"Don’t buy more than you can afford, even if the bank allows it." —callumsmommy
Think Like a Billionaire With These 19 Traits From Mark Cuban and the Super Rich
.Think Like a Billionaire With These 19 Traits From Mark Cuban and the Super Rich
Discover the qualities that made the world's biggest success stories who they are today.
By Morgan Quinn June 2, 2017
To become a huge success, you might decide to blaze your own trail. But hacking through the jungle of life can leave you bruised and battered by the time you finally reach your destination.
Walking in the footsteps of those who succeeded before you makes for an easier journey all around. The world's most successful people — with some of the largest net-worth totals, as calculated by Forbes — credit some key traits for getting them to where they are today. Absorb their lessons, and maybe you'll become a billionaire.
20 Billionaire American Dynasties and How They Made Their Money
.20 Billionaire American Dynasties and How They Made Their Money
From the Hunts to the Waltons, these families know business.
By Joel Anderson April 15, 2021
A billion dollars can cast a long shadow — and not just if you get it all in $1 bills and see how high you can pile it. The legacy of a billion-dollar fortune can often stretch across generations and historical eras. Once you accumulate a large fortune, it only gets that much easier to expand it by relying on compound interest and smart investing to keep building returns and growing your money year after year. After all, even a modest 5% annual return translates to $50 million in income a year when the starting point is $1 billion.
The end result of that is that the wealthiest families in America tend to stay that way and only get wealthier. Even as the initial patriarch who kick-started the dynasty fades from memory, their legacy of an enormous accumulation of wealth can continue to grow generation after generation.
Inflation and Other Future Risks My Daughter Will Face
.Inflation and Other Future Risks My Daughter Will Face
Notes From The Field By Simon Black July 19, 2021 Cancun, Mexico
Robert Woodruff, President and CEO of Coca Cola, was in a terrible jam in 1953. Coke was already one of the most popular and successful products in the world. Everyone loved it.
Coca Cola had become such a staple in American life, in fact, that, in 1943, the US War Department requisitioned 6 million bottles of Coke per month to be delivered to American soldiers fighting overseas.
But World War II had taken a toll on the US economy, and inflation was rampant. By the early 1950s, Coca Cola’s production costs had soared… and the company could no longer justify selling a bottle of Coke for 5 cents.
Why Warren Buffett May Be Wrong About America’s Future
.Why Warren Buffett May Be Wrong About America’s Future
Notes From The Field By Simon Black
July 21, 2021 Cancun, Mexico
Nearly every year in his annual Berkshire Hathaway shareholder letters, Warren Buffett spends a few pages talking about the dynamism of the American economy. His message is clear: the United States has faced adversity before. It will again. But America always prevails and you should never bet against it. That theme has certainly held true during Buffett’s life. He was born in 1930 and came of age at a time when the US had become the world’s undisputed dominant superpower.
Buffett’s entire business career, in fact, took place at a time when America was on the rise. But even Buffett would have to acknowledge that times have changed.