This is how Americans spend their money1 (according to a Bureau of Labor Statistics study): Like most aggregates when you’re dealing with hundreds of millions of people, everyone’s spending is likely to be somewhat different from these averages. But directionally, these numbers seem correct to me from an overall point of view. The two most …
Some financial analysts predict that there will be a recession in the next 12 months. A recession, accompanied by inflation and rising interest rates, could have a real impact on Americans’ wallets. It’s time to make your finances more resilient before the economic downturn begins. With inflation at its highest level in 40 years and …
Most people don’t know how to accurately assess probabilities and assess risks in their financial planning. As a result, their financial plan is in danger of collapsing as soon as something goes wrong. which means almost still is collapsing, because there are a million things going on in life that we can’t foresee, that we …
If you’re hoping to retire early, you’ll need to find a way to replace your salary without working. In a traditional model, this means accumulating enough savings to be able to withdraw some of it each year to fund your lifestyle while the rest continues to grow. Unless you win the Powerball, how much should …
This joint early retirement strategy is a ‘terrible idea’, says financial planner Read More »
As Americans head to the polls, several key personal finance issues weigh on voters’ minds and wallets. This week, the Federal Reserve enacted its fourth consecutive 0.75 percentage point increase in interest rates to fight inflation, triggering further losses in stock markets. Meanwhile, recession fears are growing, with 84% of Americans worried about how a …
5 key personal finance issues this midterm election – and what they mean for your wallet Read More »
When it comes to building wealth, entrepreneur Ramit Sethi says it’s important to focus on the big picture. Getty Images No, it’s not about latte — well, at least according to Ramit Sethi, entrepreneur and New York Times Best Seller author I will teach you how to be rich. He says we shouldn’t focus on …
Amy Schultze (right), accompanied by Austin Harmon (left), 2014 JHS graduate and business manager of Shults Nissan Subaru, walks through the process of buying a car with her class during a recent visit at the dealership. Before teaching, Amy Schultze helped run her family business – a local hardware store – where she aimed to …
Editor’s Note: This is Part 1 of two parts, Part 1 comprising Lessons 1-2. The second part, with lessons 3 to 5, is More Money Lessons I Learned at 40. As a financial planner, I think about money more than most people. I think about my personal life, the financial decisions I make every day, …
The holidays will be here before you know it, and if inflation squeezes your budget, you may run out of money. Fortunately, there are relatively easy ways to cut costs. “Families and individuals get used to taking on certain conveniences in their lives, which add up quickly,” says Kortney Ziegler, founder and CEO of WellMoney, …
