How Financial Literacy Changes Once You’re Retired

Apr 28, 2023   By John Csiszar

Financial literacy covers a wide range of topics, from budgeting and saving to investing and planning for retirement. Once you retire, however, financial literacy broadens to include scenarios that may not have been as relevant during your working life. For example, income typically drops in retirement, while expenses may remain the same or even rise, depending on the type of lifestyle you lead and the condition of your general health.

6 Terrible Mistakes To Avoid When Paying Off Your Mortgage Faster

John Csiszar  Tue, May 2, 2023

On the face of it, paying off your mortgage faster sounds like a great idea. You can shorten the time frame that you have to make payments and you’ll save potentially tens of thousands of dollars of interest along the way.

But there are both good ways and bad ways to pay off a mortgage early. If you don’t approach your mortgage prepayment in the right way, you could end up paying much more than you thought, and could potentially even leave yourself in a worse financial situation.

7 Income Streams That Make Millionaires Rich

Andrew Lisa   Mon, May 1, 2023

You can tell a lot about how rich people make their money by looking at their taxes -- which is probably why they work so hard to keep people from nosing around in their returns.

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The IRS gave regular people a glimpse into that insulated world in 2015 when it published the results of a research study titled, "Over the Top: How Tax Returns Show that the Very Rich Are Different from You and Me."

I’m a Financial Planning Expert: Here Are 5 Things You Should Never Spend Money on If You Want To Be Rich

Heather Taylor   Mon, May 1, 2023

If you’re not rich, you may wonder how you can get rich at various intervals of your life. Building long-term wealth generally means making smart decisions with your finances like investing consistently and prioritizing paying off any debt.  What it doesn’t include is spending money on stuff that does not have lasting value. How do you know which purchases are preventing you from building wealth? Here’s what one financial planning expert does not recommend spending your money on if you want to be rich.

What To Know If You Deposit More Than $10K Into Your Checking Account

Angela Mae  Mon, May 1, 2023

If you plan to deposit $10,000 or more into your checking account, there are a few things you should consider first. By law, banks have to report deposits that exceed a certain amount.  Not only that, but many bank accounts come with maximum deposit restrictions. You may also be subject to certain fees when making such a large deposit. If you frequently make large deposits, you should also watch out for any potential scams or fraudulent activity. But even if this is a one-time thing, it’s still important to know about these factors and how they might affect you.

4 Money Lessons From High-Net-Worth People That You Need Right Now

Wola Odeniran, CEPF®  Tue, April 25, 2023

Advisors often work with high-net-worth clients and are able to understand the expectations wealthy clients have about managing their finances. The good news is that some of those takeaways can be applied to clients who are not high-net-worth individuals.

Read on to understand four lessons advisors can take from high-net-worth clients – and how they can be applied to any client.

It’s Okay to Be in Debt, Just Not Okay to Stay in Debt

APRIL 26, 2023  Financial Pilgrimage

Ever since college, I have always thought I was good with money. At least, that’s what I’d tell myself in my 20s. At the age of 25, I was completely debt-free! Yet, we accumulated nearly $200,000 in debt by age 30.  Most purchases were normal today: a house, student loans, newer cars, a wedding, a condo at the lake. Oh wait, a lake house is not typical, but it happened. While getting into debt was not ideal, I don’t regret any of it, and thankfully we had the financial means to dig out. However, I know not everyone is as fortunate. Regardless, this is our story.