Fifty-six percent of adults under the age of 44 have student debt, according to the Pew Research Center. This is the highest share in history. The increase in college costs and the rising importance of a post-secondary education for improving income are a big part of this. Many surveys conducted in recent years have discovered that Millennials share a resistance to debt, no doubt influenced by coming of age during the dot-com crash of 2001 and housing crisis of 2008. Given this, it’s no wonder we often see younger people want to pay off debt before they save for retirement.
At some point in your life, there is a chance that you will inherit money or assets left from a grandparent, parent, or other family member. When someone that you love passes away, it is an emotional experience and going through the process of inheriting the assets they chose to leave you can add to the rollercoaster of emotions.
The tax law changes of 2018 eliminated the tuition and fees deduction for college expenses. There are still several ways to save on taxes when saving for and paying for college.
Budgeting is very important for setting yourself up for longer term financial success. I personally prefer monitoring three separate equations for main spending goals including retirement savings, home mortgage costs, and overall debt servicing costs.
The jam study demonstrated the phenomena known as “choice overload problem” when humans are faced with choices, less is better.
One of the major benefits of a 529 plan is the tax free growth, and tax free withdrawals for qualified expenses. Even if you are spending along the way, you could…
A few weeks ago, I had a conversation with a recent college graduate who was preparing to buy his first car. He had an encyclopedic knowledge of every…
April 15th contribution deadline looming, trying to figure out which type of IRA contribution makes more sense