When you begin your career, you probably do not think about retirement or Social Security retirement benefits. However, now is the time to learn good financial management.
And here is the deal about the age of retirement in order to receive the Social Security benefits. You do not have to wait until you are 62 to 70 to retire, but unless disabled, you cannot access the Social Security benefits. You will potentially be able to access the funds in your IRA.
Read MoreHonestly, almost nobody thinks about retirement when they have just graduated from college. You land your first job and your benefits package likely has things you never even heard of before. Along with learning how to handle money, you need to learn about the insurance and account types available to you.
Better packages offer accidental death and dismemberment insurance and long-term care insurance. They also typically include a retirement account. Pay close attention to the retirement account options. Your employer may give you a few.
Read MoreAl Gore’s net worth was not always what it is today. He was a millionaire with a net worth of $1.7 million, but he was not a multimillionaire…yet. Here is his story and how he turned less than $2 million into a net worth of over $300 million.
Read MoreMany people believe that your attitude determines your altitude, but is this true when it comes to wealth? Is there some secret or overt connection between positive thinking and money? The answer is "perhaps." Positive thinking does fuel actions that can encourage practicality and wealth building.
Read MoreMany Americans would consider themselves wealthy if they could simply set all their bills to autopay and never worry about the money being in the account when the bills are deducted. Others think of wealth in terms of cars, houses and other material possessions. You may consider anyone who earns $500,000 or $1 million wealthy. It’s all a matter of personal perspective, but most would agree that millionaires are wealthy whether they’re worth just one million or multi-millions.
When setting your financial goals and making decisions that will impact your net worth, it helps to get some inspiration from others who have already claimed their share of the wealth in America. That includes tapping into the bedtime secrets of America’s wealthiest citizens.
Read MoreThe Apple Company is worth more than $1 trillion. Forbes says that the CEO, Tim Cook, runs the most profitable company in America. Apple earns more than $48 billion in net income each year. Sadly, I have to report that Tim Cook is not yet a billionaire. The Street reported Tim Cook’s net worth in 2019 was $625 million.
Read MoreMichael Bloomberg’s net worth is $70,000,000,000. With all those zeros shown, the number seems to me to be more impressive than the shorthand version of $70 B. Forbes says his real-time net worth is $70 billion 2023. Early, in 2020, before the coronavirus crash, his net worth was over $61 billion. What happened?
Read MoreWhen it comes to investing, a big and common question is whether one should invest in real estate or stocks, and the answer changes depending on whom you ask. That’s because there really is no right answer. What is good for one person is not necessarily good for another.
Sometimes, real estate performs better and sometimes stocks do. Choosing either real estate or stocks is something that must be done by comparing the two options and determining which fits you best.
Read MoreSome decisions in life you need to make as early as possible. As macabre as it may sound, planning for your death tops that list. It is up there with answering the question “What is money management?” while still in high school. Like an early financial literacy education, you need to deal with your estate planning as early in life as possible.
Read MoreRegardless of the amount of money you have now hiring a financial advisor makes good sense. This savvy individual can help you grow the money you do have. Think of them as the chief financial officer of your life.
The earlier in life that you hire the financial advisor, the better you will earn. That is because the best financial advisor lets you know what will work best to grow your money. You do not need a minimum amount to begin working with one of these individuals.
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