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Tag Archives: financial risks

What Your Financial Wikipedia Says About You

The longer one lives, the mustier the memories. I often ponder the past; it makes me sad how as years go on, personal events regardless of pain or pleasure, dissolve into fine mist and disappear into a black hole of time. I long to remember all the great things I’ve forgotten! A couple of childhood memories stand out. Before I share, keep in mind, I was a boy. I was also a nerd, an inveterate reader. Books were and remain, a personal passion. Every year the Scholastic book fair made the...

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Why Your Credit Score Just Improved

Are you one of the 8 million consumers who noticed a credit score improvement and wondered how it happened? Here’s the scoop: Beginning in March 2015, The National Consumer Assistance Plan, a consortium of the three major consumer credit reporting companies – TransUnion, Experian and Equifax, began an effort to make credit reports more accurate and make it less intimidating for consumers to correct errors. The three-year initiative outlined the following objectives: Allow consumers to access...

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Planting The Seeds For A Financial Harvest

Since the age of 16, my daughter has worked summer jobs. She’s been a waitress, a hostess. A cashier at the local HEB supermarket. This isn’t a topic we’ve discussed formally, so it made me curious as to her motivations at the time. Sure, we’ve had countless small money moments as early as age 5. Formal conversations have been granular covering specific topics such as payroll tax withholding and where to invest her money. On a side note, money discussions with your kids should be casual and...

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Money Lessons From George Washington

As a small child, Washington yearned to be a British officer. While other children were playing games, doing what children do, Washington gravitated to rigorous study of famous battles as recreation. He lived the victories and defeats; with extraordinary precision, a young George envisioned and documented battle strategies, actions he would have taken to turn around and win losing engagements. Washington possessed an indomitable fire fed by love for the home country. In his view, Britain was...

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How Millennials Can Retire At 56 – Part 2

In Part 1, I shared several ideas for ambitious Millennials who seek to make retirement in their mid-fifties a reality. Those who take the initiative to retire early, especially close to a decade before Social Security and Medicare benefits eligibility, are going to need to think and behave differently than the masses when it comes to saving and debt management. Live at home longer or find a roommate. The share of young adults living at home has been on the rise since the Great Recession....

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How Millennials Can Retire At 56 – Part 1

A TD Ameritrade poll of 1,500 Millennials (those born 1981-1996 according to Pew Research Center), outlines how Millennials’ expectations about retirement age may be too ambitious. They expect to retire at 56 which is seven years younger than the current average retirement age. Admittedly, it’s a lofty aspiration. Millennials are not going to hit their retirement goals at 70, let alone 56. Wholesale financial media advice such as invest aggressively in stocks and buy a house is offered up as...

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The Psychological Side Of Retirement

16-mental and financial tips for a “successful” retirement.  Retirement is easy, right? Said the newly minted retiree You stroll out of your cushy, corporate job for the last time passing all the desperate souls who are stuck in their cubicles and think to yourself, “life is good”. You have dreams of laying by the pool, lavish vacations, time with family and friends, and maybe you’ll even pick up an old hobby or two. Then you get home and reality sets in. And you realize, “what in the world...

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How To Protect Your Senior Parents From Financial Risks

“Hey mom, have you heard about the latest scam?” There are several trends that have led to a rise in senior financial crimes. The most prominent being the usage of credit. Borrowing by older adults continues to trend higher which increases the need for financial vigilance as outlined in a recent paper by the Payment Cards Center of the Federal Reserve Bank of Philadelphia. According to the 2010 study by Investor Protection Trust Elder Fraud Survey, one out over every five citizens over 65...

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