One of the first lessons of finance we are taught, by our parents or through some basic personal finance course, is to make creating an emergency fund our top priority. Having a reserve of cash equivalent to six to 12 month’s worth of living expenses is considered a fundamental principal of financial security. Yet, the reality is that less than 10 percent of income earners have enough reserve cash to cover more than a month’s...
An increasing number of Americans are facing an uphill battle just trying to save enough and earn enough on their savings to be able to retire on time. Carrying much higher debt burdens than previous generations, many pre-retirees have had to put their savings on the back burner to focus on debt reduction, which, for practical purposes is smart, but it is also the primary reason why some will need to delay retirement or drastically...
I’m not sure I agree that traditional banks are “the perfect partner” as referenced in this article about new sources for small business loans, but if rates and fees are manageable, these new opportunities could be good news for small businesses. Fortune notes: http://tinyurl.com/ltmgrsv
Nice to see an article with some specific suggestions, data and optimism about changing careers later in life. We're definitely believers that one way to have a more comfortable "retirement" may be to work longer, full-time or part-time, in a new field that you enjoy. The secrets of second-act career changers http://money.us/1cxf5np
It’s 1099 Time A primer on 1099 forms. Provided by Peck Financial Advisors There are 17 types of 1099 forms, and you may have received one or more of them in the mail. Here’s a brief rundown of what they report. 1 1099-A. This form is a consequence of foreclosure or bank repossession of secured real property – “acquisition or abandonment,” in IRS terms. Lenders send it to the foreclosed party and the buyer. It...
The Strong Dollar: Good or Bad? What is dollar strength & who invests in it? Provided by Peck Financial Advisors You may have heard that the dollar is “strong” right now. You may have also heard that a strong dollar amounts to a headwind against commodities and stocks. While there is some truth to that, there is more to the story. A strong dollar does not necessarily rein in the bulls, and dollar strength can...
The figures out last year show that the average amount of student loan debt a student graduates with is $18,625. Most graduates are carrying multiple student loans from multiple sources, and the cost and complexity of managing them can become overwhelming, especially if they are unable to secure steady employment with sufficient cash flow to make the payments. One option that has always been available to indebted graduates is a college student loan consolidation which...
Should you cook with good wine, or cheap wine? A Portland Oregonian column on that & other food topics: http://tinyurl.com/n72fg6h
Are Americans Growing More Optimistic About Retiring? Pragmatism seems to be replacing pessimism, at least. Provided by Peck FA. Is it okay to retire today? Many baby boomers shelved notions of retiring during the past few years. Layoffs, the decline in home values, the crushing bear market of 2007-09 – those memories were just too fresh, and their economic effects were still being felt by many households. In 2015, boomers seem a bit less hesitant...
You can train your brain to save money - Business Insider shares a simple mental trick you can use: Click Here
What’s Your Financial Health Score? Can a 5-question test predict how wealthy you will become? Provided by Peck Financial Advisors In the future, will you become wealthier or poorer? Who knows, right? It seems like you would need a crystal ball to really answer that question given life’s up and downs. What if the answer is right in front of you? What if you can determine it from your present financial behaviors? Two economists present...
How long will it last? Who wins & loses from it? Provided by Peck Financial Advisors On the New York Mercantile Exchange, a barrel of light sweet crude is currently worth well under $60. Prices have dropped more than 25% in a month and almost 45% year-over-year. What is behind this freefall? How long will prices keep dropping, and who does this development hurt and benefit? 1 Oil prices haven’t cratered simply because of lessening...
