With more than 95% of American workers currently covered by Social Security, there are some things about this massive retirement program that you should probably know.
Congratulations Newlyweds! Your fresh union symbolizes a new beginning facing the world. But before the glow of wedded bliss wears, it’s crucial to talk about finances.
Remember way back to your first paycheck. The moment you open the envelope anticipating the windfall when all your hard work pays off. Then, like a swift kick to your gut, realty hits. Your takeaway earnings are almost always way lower than what you expected.
It’s no surprise that studies show young adults are not into insurance. There are too many other financial challenges to worry about, such as paying off crushing student loan debt and saving for future goals. Actually, other studies show that younger adults would rather spend their money on such things as travel premium TV streaming services than use it to buy life insurance.
High yield annuities offer interest rates, on average, that are anywhere from a half a point to two points higher than those offered through bank CDs. The same spread exists between high yield annuities and regular fixed yield annuities. Those types of interest rate differences can translate into a substantial advantage in accumulated earnings over time.
Millennials get a bad rep. Too often does the media say that they’re lazy, unmotivated to work hard, and frivolous with their spending habits. On a weekly basis, absurd articles pop up criticizing lifestyles, going as far as saying that buying avocado toast is the reason so many can’t afford a house… Ridiculous, right?
I don’t know about you, but for me every paycheck is like a mini Christmas that ends nearly immediately when reality sets in. Bills, rent and saving for retirement makes every payday a budgeting reality. So in these times, it’s important to take some relatively easy steps to stretch your budget.