Disclaimer: Good Day, Readers. The WealthBuildingPowers blog is a financial literacy and competency blog, and it does not provide specific investment recommendations. Prefer audio - click below. First Question The first question: Do you need to attend a four-year college? Many people complete college, and their job prospects are often similar to those of a high school graduate. Others drop out, saddled with tens of thousands of dollars in debt and nothing else to show for ...
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Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations. Photo by Oleksandr P on Pexels.com https://youtu.be/kc352nZCkuE IN 60 SECONDS - K-12 SCHOOLS CAN HELP STUDENTS MANAGE MONEY AND CREATE WEALTH! Preparing Our Youth for Financial Independence: The Role of K-12 Education Photo by Max Fischer on Pexels.com Between high school and college, I sat through hundreds of hours of courses (SEVERAL BORING), but very little was taught ...
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Changing your financial habits is crucial for long-term success. Recovering from financial mistakes takes time and effort.
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In the 1987 movie, Wall Street, actor Michael Douglas as Gordon Gekko, said, "Greed, for lack of a better word, is good." The reality is greed wrecked our economy causing the 2008 Real Estate and Stock Market recession! Greed may put some Kodak Company executives in prison for alleged insider stock trading. So, let’s replace the word greed with LEVERAGE. Leverage/Debt is a powerful tool, when SMARTLY utilized in real ...
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I admit my wife has a MUCH better sense of direction than I. My apologies for embarrassing all husbands. When Garmin came out with a GPS, I immediately purchased one and I fell in love. You put in your destination and the computer figures out the best route. You specify scenic, fastest route. interstate or few tolls, etc. We can tailor our journeys while all arriving at OUR destination. A wealth ...
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Have you heard of the “Rule of 72”? This simple rule helps your HARD-EARNED MONEY grow! The “Rule of 72” approximates how many years it will take for your money to double, given a fixed rate of return. The formula: {72 / interest rate = Number years to double}. How long do you believe it will take to double your money if placed in a typical U. S. savings account? ...
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RULE # 1: If your debt interest rate is higher than your targeted investment return, than prioritize paying off debt. Place your money where it does the most good. https://wealthbuildingpowers.com/2018/04/05/four-steps-to-achieve-financial-freedom-by-becoming-debt-free/ If you want to invest in the S&P 500 ETF, which averages about eight to ten percent annual returns you should prioritize paying off HIGH INTEREST credit card debt which can be as high as ~30%. The good news, student loan interest ...
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DeVos Makes Case for Alternatives to 4-Year College I have written on the unsustainable cost of college previously. This post shares a recent Wall Street Journal Article on the topic. Ms. DeVos nails it when she discusses the lack of financial literacy. Both students AND PARENTS must become more financially literate. Enabling better decision-making and avoiding a life time of UNNECESSARY DEBT. The cost of college is unaffordable for average American ...
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NEW CARS VERSUS A HUGE JUMP IN YOUR NET-WORTH I often hear or read similar below comments: I have $80,000 in college loans that are killing me. Backbreaking DEBT! I cannot afford to contribute to my 401K.I will never be able to retire.Life is unfair!I just purchased a brand new Porsche! 718 Cayman Porsche - Is It Worth It? Wait one minute - did you just say, you owe $80,000 in college loans; contribute $0 ...
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Approximately 76 million or 44 percent of Americans paid ZERO federal income tax in 2018. For the rest of us, about 70% will get a refund. Keep in mind because your tax bracket was most likely decreased for 2018, your refund will be smaller than 2017’s refund. WHAT YOU CAN DO WITH YOUR REFUND- TO GROW YOUR NET-WORTH PAY OFF HIGH INTEREST DEBT If you have credit card debt, this may be a perfect use for your tax ...
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