Debt

The Difference Between 401k Loans vs. 401k Early Withdrawals

The Difference Between 401k Loans vs. 401k Early Withdrawals

By in Debt, Guest Post, Retirement | 0 comments

By Gust Contributor, Anum Yoon If you need a large amount of money, you might be tempted to dip into your retirement fund. Many 401k plans let you borrow money or take an early withdrawal. Both have their pluses and minuses. However, they have one thing in common: If you take out money, you’ll typically have saved less when it’s time for retirement. The consequences of taking a 401k loan or a 401k early withdrawal could cost dearly in retirement. Don’t take this decision lightly or in your later years, you might be forced to change your lifestyle or postpone your...

Read More

8 Financial Moves College Graduates Should Make Now

By in Debt, Guest Post, Money Management, Saving, Tips | 3 comments

Guest Columnist, Andrea Woroch The number of Americans receiving associate’s degrees, bachelor’s degrees or master’s degrees in 2016 totals over 3.5 million, a collective achievement worth celebrating. However, the dark cloud of student debt looms above the festivities this year, with the average debt amounting to just over $37,000 — a record high — according to recent reports. While the standard payback period for bachelor degree student loans is 10 years, the average person spends about two decades paying off their college debts due to lifestyle changes including marriage, children, home-ownership and more. To avoid becoming part of this...

Read More
Do Billionaires Need An Emergency Fund?

Do Billionaires Need An Emergency Fund?

By in Automatic Saving, Debt, Insurance, Saving | 29 comments

How Billionaires and the Uber-Wealthy Went Under If you think billionaires don’t go broke, think again. Lottery winners, professional athletes, actors, and others with tremendous wealth have lost it all. The interesting thing about money, not matter how much you have, if you spend more than you make or swindle others, at some point you’ll wind up broke.  Bernie Madoff – From $17.179 Billion to Zero How wealthy do you think the Madoff family is today?  According to a Time.com article by Sam Frizell last year, “Where are Bernie Madoff and His Inner Circle Now?” The once wealthy Madoff family...

Read More
The Debt Myth-Personal Finance Luminary Jackie Beck-Part 2

The Debt Myth-Personal Finance Luminary Jackie Beck-Part 2

By in Debt, Personal Finance, Personal Finance Luminaries | 2 comments

Personal Finance Luminary Series-Jackie Beck-Part 2 Welcome to part 2 of this inspiring interview with Personal Finance Luminary, debt evangelist, blogger, and debt app developer. Learn how she went from salaried employee and part time entrepreneur to full time online success. Read Part 1 here. 6. What are your best lifestyle hacks to manage being a mom, entrepreneur, and spouse? You really have to do what’s most important to you first. Then everything else gets done (or doesn’t) as it can. I do believe that you can do most anything you want, but you can’t do everything all at...

Read More
The Debt Myth-Personal Finance Luminary Jackie Beck-Part 1

The Debt Myth-Personal Finance Luminary Jackie Beck-Part 1

By in Debt, Personal Finance, Personal Finance Luminaries | 0 comments

Creator of The Debt Myth-Jackie Beck-Part 1 Welcome to an inside look into some of the most important personal finance luminaries online, Jackie Beck of The Debt Myth. These influential people educate and entertain others about money topics. From authors to podcasters to writers, these money mentors are working to raise the level of financial knowledge and education.  Read more about Personal Finance Luminaries >>> 1. How did you become a personal finance blogger? I started out by blogging anonymously back in 2006. At first I just wrote a paragraph or so a day about something I’d learned or experienced...

Read More
August Finance Reads-Sharpe, Buffett, Trump and More

August Finance Reads-Sharpe, Buffett, Trump and More

By in Debt, Investing, Links, Stocks | 2 comments

With the Chinese Yuan falling, Donald Trump rising, Greek debt still in the media, there’s plenty to think about. For a quick diversion, here’s some of the articles I’ve been reading recently. I hope you enjoy them as much as I did.  “Valuable Lessons From Warren Buffett’s Letter to Shareholders“, Cullen Roche of Pragmatic Capitalism – Cullen does a great job of pulling out the key takeaways from Buffett’s last years annual report. My favorite was “stop paying high fees”. My ‘ah-ha’ lesson was “risk is not volatility”. He referenced Buffett is saying that risk is actually not meeting your...

Read More