Finances

Did you know that 78% of Americans live paycheck to paycheck? Breaking free from this cycle isn’t about luck—it’s about adopting habits that lead to real, lasting wealth. Here are 15 transformative principles self-made millionaires swear by, designed to help you take control of your financial future. 1. Pay Yourself First The cornerstone of wealth building is treating savings like your most important monthly bill. Automatically direct 20% or more of their income to savings and investments before spending on anything else. This “reverse budgeting” approach ensures consistent wealth accumulation over time. Making saving automatic removes emotion and willpower from …

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As retirement ushers in a new phase of life, financial priorities shift dramatically. For many Boomers, that means cutting out unnecessary expenses to stretch their savings further. From pricey cable packages to luxury vacations, here are the 10 things savvy retirees are ditching to live comfortably on a fixed income—without sacrificing what truly matters. 1. Expensive Cable Packages Remember when having hundreds of channels was the pinnacle of home entertainment? Those days are long gone for budget-conscious retirees. Many Boomers are cutting the cord and opting for more affordable streaming services. With platforms like Netflix, Hulu, and Amazon Prime offering a wealth …

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Tired of watching your savings grow at a snail’s pace? Parking cash in a savings account might feel secure, but with interest rates barely keeping up with inflation, it’s more of a holding pattern than a growth strategy. To make real progress, you need investments that work harder for you. Here’s 10 methods go beyond basic savings, helping you build toward that big purchase or secure your financial future. 1. Stocks Investing in stocks means buying small pieces of a company. When the company does well, the value of your stocks can go up, and you can make money.  However, …

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If you’re thinking about how long $500K in savings and Social Security will last in retirement, it’s important to know that it can vary depending on where you live.  GOBankingRates data gives a helpful look at how far your money can stretch in every state, ranking them from the longest to the shortest time your savings will last.1 The data can help you figure out which states offer more affordable living for retirees and which ones might cost you more. 1. Oklahoma Oklahoma is known for its low cost of living, making it an attractive option for retirees. With $500,000 …

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Financial expert Suze Orman has a clear message for anyone with student loan debt: prioritize paying off your student loans each month before any other bills. Here’s why she says student loans should be your top financial priority and how to manage these payments effectively. The answer lies in the unique nature of student debt and its long-term implications on your financial life. The Consequences of Neglect Defaulting on your student loans isn’t just a minor hiccup—it’s a financial earthquake that can shake the very foundations of your future.  Unlike other types of debt, student loans come with a set …

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Americans might lead the world in millionaire counts, but when it comes to wealth distribution, the story takes a sharp turn. A recent Global Wealth Report from Swiss bank UBS reveals some striking disparities—particularly when comparing the U.S. to other affluent nations. While the U.S. boasts nearly 22 million millionaires, making up a staggering 38% of the world’s total, the reality for the average American looks much different. The country’s average wealth per adult stands at $564,862, but the median plummets to just $112,157, exposing a deep divide between the rich and the rest. And that gap is further underscored …

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In a world where the racial wealth gap remains a stark reality, the stories of Black billionaires who rose from humble beginnings to the pinnacle of financial success stand out as a testament to the power of perseverance and determination.  Despite the odds stacked against them, these individuals have shattered barriers and amassed incredible fortunes.  1. Oprah Winfrey: The Media Mogul Oprah Winfrey’s rise from poverty in rural Mississippi to becoming one of the most influential women in the world is a testament to her resilience and talent.  Interestingly, Winfrey was fired from her first television job as an anchor …

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Financial guru Dave Ramsey has sparked controversy with his unconventional advice on claiming Social Security benefits. According to an article published in The Motley Fool, Ramsey suggested that taking Social Security at 62 (the earliest age available) could be a good move in certain situations, specifically if you plan to invest every dollar of the benefit.1 But is this strategy right for everyone? Here are the seven compelling reasons to start collecting at 62 and seven counterarguments for why waiting might be the wiser choice. 7 Reasons to Start Social Security at 62 Curious if starting Social Security at 62 …

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