As the confetti settles and the champagne fades, a familiar feeling might bubble up: it's time for a fresh start. But instead of committing to vague resolutions, let's focus on something tangible, something that impacts your life every day – your finances. This year, let's kickstart your budget and review your insurance, building a secure foundation for your financial future.
Preparing for college while still in high school can be difficult for even the most academically-minded student. These days, you need to excel in the classroom, make sure you're involved in extracurricular activities, and enroll in challenging classes to impress a college admissions board. On top of that, the financial cost of higher education may add to what is already a stressful time in an ambitious student's life. Luckily, with a little preparation, you may be able to make applying for financial aid painless and stress-free. Read on to learn more.
In the exciting world of personal finance, understanding and managing your cash flow is akin to mastering the control panel of a high-performance sports car. A firm grasp on this element helps you steer your financial journey in the right direction, enabling you to live comfortably today while preparing for a secure future. In this blog, we'll dive into why positive cash flow plays a crucial role in your financial health.
Investors need to remember that markets can be turbulent. Between February 12, 2020, and March 23, 2020, the Dow Jones Industrial Average* lost 37% of its value due to the onset of the COVID-19 pandemic. Fortunately, recovery was swift, and by November 2020, U.S. markets had returned to their pre-pandemic highs.1 Preparing for declines is essential. There can be a strong temptation to pull out of the markets when they tumble. Instead of retreating, you may need to adjust your investment approach. By remaining flexible, you could be able to take advantage of opportunities while managing risks.
The pandemic sparked some interesting retirement trends. First there was an unexpected decline in the share of workers in the United States who were 55 and older, prompting a study called “The Great Retirement Boom” by economists with the Federal Reserve. By early 2022, the trend was reversing. “Unretirements” were on the rise, with an estimated 1.5 million retirees returning to work in the U.S. labor market by March 2022. A study of Labor Department data by Nick Bunker, an economist with Indeed, revealed that as of March 2022, 3.2% of workers who had retired a year earlier had gone back to work, becoming unretired.
Remember when a college education was reasonably priced? In the past 20 years, the cost of college tuition for public universities has risen 165%. College students and their families have been taking on more and more debt, and they are taking longer to pay it off. Recent data bears this out. In 2021, 34% of adults aged 18 to 29 years have student loan debt, making them more than twice as likely as adults in any other age group to have student debt.1,2
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