Finances

As baby boomers approach retirement, many are seeking ways to maximize their savings and ensure a comfortable future.  By 2030, all baby boomers will be 65 or older, and the growth in this age group is expected to begin slowing.1  With retirement on the horizon, selling these certain items can be a practical way to increase retirement savings. 1. Real Estate Many Boomers own homes or investment properties that have appreciated significantly over time. Selling real estate can free up substantial funds, which can be invested or used to cover retirement expenses. Downsizing to a smaller home or moving to …

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What separates the financially successful from the rest? It’s not just about earning a high income or being born into wealth. In fact, about 61% of American adults don’t believe their retirement savings are on track.1  The path to financial success is paved with powerful habits and a winning mindset. If you’re starting your journey or looking to take your finances to the next level, here are 13 habits that can help reshape your financial future. 1. Create a Morning Routine Establishing a consistent morning routine is a common trait among financially successful individuals.(ref) By starting their day early, they …

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Are you tired of the 9-to-5 grind and eager to explore passive income opportunities? Look no further than the wisdom of billionaire entrepreneur Mark Cuban.1 Known for his savvy investments and no-nonsense approach to wealth-building, Cuban has shared invaluable insights on generating passive income. Here are 10 of his top strategies to help you build a solid financial foundation and potentially join the ranks of millionaires. From dividend-paying stocks to real estate investments, Cuban’s advice is as diverse as it is practical. 1. Invest in Dividend-Paying Stocks Cuban is a big proponent of investing in dividend-paying stocks as a way …

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In recent news, an upcoming mass student loan forgiveness plan has been in the works for over a year, with 25 million borrowers expected to receive updates via email.1  While the idea of debt relief might sound appealing to many, a closer look reveals a complex issue with potential drawbacks. 1. It’s Personal Responsibility Forgiving student loan debt could make individuals less cautious about taking on debt in the future, expecting potential bailouts. It might also diminish the sense of personal responsibility associated with borrowing and repaying loans. Students should be held accountable for their financial decisions. 2. It’s Unfairn …

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According to the National Association of Colleges and Employers’ 2024 Student Survey,1 new college graduates prioritize economic security, citing job stability, good benefits, and annual salary increases as top attributes in their ideal job.  However, employers often perceive a gap between the skills graduates have and what is needed in the workplace. This disconnect can lead to missed opportunities in lucrative and fulfilling careers that graduates may overlook.  Here are 14 jobs that offer competitive salaries and solid prospects based on data from Glassdoor, but are sometimes passed over due to misconceptions or lack of awareness: 1. Waste Management Technician …

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Have you ever looked at your bank statement and wondered, “Where did that money go?” It’s a sinking feeling, realizing that funds have vanished from your account without your knowledge or consent.  In some cases, your bank has the legal right to withdraw money without your permission. This might sound alarming, but it’s a reality that many people are unaware of. When Can a Bank Withdraw from Your Account? Banks can, in specific circumstances, take money out of your checking account without your explicit permission. Here are some of the most common scenarios:   Can a Bank Withdraw to Settle Credit …

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Did you know that nine states have chosen to forgo income taxes entirely, relying on other revenue sources to fund their governments and services.  If you live in these states, you probably experience seeing your entire paycheck hit your bank account without a state tax deduction. But, what are the trade-offs? Let’s look into the surprising list of nine US states that let you live income tax-free. 1. Alaska 2. Florida 3. Nevada 4. New Hampshire 5. South Dakota 6. Tennessee 7. Texas 8. Washington 9. Wyoming The absence of a broad-based state income tax does not necessarily mean a …

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The Department of Education’s latest student loan forgiveness program has made headlines, wiping out a staggering $168.5 billion in debt for 4.8 million borrowers—that’s nearly 1 in 10 Americans with student loans.1  This move has ignited a fierce debate about the fairness and long-term consequences of such widespread debt forgiveness.  Here are some key arguments against forgiving student loan debt.  1. Moral Hazard & Personal Responsibility Forgiving student loans could create a moral hazard, where future borrowers might take on excessive debt expecting it to be forgiven later. It also undermines the principle of personal responsibility for financial decisions. Students …

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