With interest rates staying at all time lows, we may be tempted to look at saving as a no-win situation. Monies deposited just aren’t accumulating any interest and with an annual inflation rate around 2%, aren’t we actually losing money on our savings? The short answer is yes, but a more prudent answer lies with the […]
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Buying a home is a major event in our lives, and the excitement can easily overshadow the long-term financial commitment we’re about to make. This is especially true when we’ve found a home that we love. The property taxes, maintenance, and mortgage obligation that we’re committing to, often take a backseat to the excitement of […]
The short answer is maybe, since it depends on how you answer a few simple questions. Are there family members who will need to be cared for financially when you die? Will your survivors or beneficiaries inherit debt such as a mortgage or a personal or car loan? Do you already have a large policy […]
What is personal economic value and why is it important? Our personal economic value is our earnings potential or what can we expect to earn between now and when we plan to stop working. As an example, if I currently earn $44,000 each year, I’m 32 years old, and I plan to retire at age […]
ONE: It’s easier to find a job when you have a job. Statistics prove this out, and I think it has a lot to do with our attitude more than anything else. When we’re on an interview and we already have a job, we’re more confident. We don’t really need the position. We’re interested in […]
Survivorship planning is an often overlooked area of personal finance. when it is considered, it’s usually limited to large obligations like a mortgage. But there are many smaller items that could add up to a large financial burden for our survivor. We should start by analyzing the ability of our dependents to continue financially without us […]
With interest rates staying at all time lows, we may be tempted to look at saving as a no-win situation. Monies deposited just aren’t accumulating any interest and with an annual inflation rate around 2%, aren’t we actually losing money on our savings? The short answer is yes, but a more prudent answer lies with the […]
There will be many financial forecasts for the coming year and recommendations about how we should adjust our finances to prepare for them. Many of them will contradict each other, leaving us wondering if anyone really has a good idea of what will happen and what financial changes we should make (if any). The answer of […]
For some people, their financial goals are to someday be out of debt or have a better handle on their financial situation. But these types of goals don’t lend themselves to an achievable plan, and progress can’t be measured. When we establish financial goals, we assess the things that we need and want in life […]
The short answer is maybe, since it depends on the answers to a few simple questions. Are there family members who will need to be cared for financially when we die? Will our survivors or beneficiaries inherit debt such as a mortgage or personal or car loan? Do we already have a large policy through […]
