Featured

5 Things to Tell Your College Grad

If you have a child graduating college this spring, it’s quite an accomplishment — not only for them, but for you as a parent. When that baby was born so long ago, surely you gave a bit of thought to how you would be able to raise the child with values, keep your baby safe and healthy, and how you would ever pay for college.

Now that their diploma certifies that they officially “know everything,” they might not want to hear more advice from you. So perhaps these financial suggestions from me will help point them in the right direction.

–This is your chance to prove the worth of your college education. All of the decisions you make now are on you, not your parents. Many of those decisions will be financial ones: dealing with your student loans, your choice of jobs and living expenses, and your plans to save for the future. Wise choices made right now will determine the trajectory of your financial future. We all make mistakes, so it’s never too late to change course — on careers, marriage partners or money. But not taking advantage of time is the worst mistake you can make, and it can’t be undone.

–Time is money. Right now, money might seem the most valuable asset you can have. Money is likely the most scarce resource, while it seems you have plenty of time stretching out ahead. But time is more valuable because it is the one asset you can never re-create. Time leverages money.

Example: If you put $2,000 a year in a tax-free Roth IRA (that’s about $38.50 a week), and invest in a diversified stock market fund (S&P 500 stock index fund), and if the market performs as well over the next 50 years as it has, on average, in the past 50 years (a 10 percent average annual return with dividends reinvested), then your account at age 70 would be worth about $2.5 million tax-free. Reconsider that latte a day!

–Debt will bury you. It’s not the original cost of the purchase, but the growing and compounding burden of interest that drags you down. If, instead of saving that $2,000 a year, you use it to purchase new furniture, clothing, a new QLED TV or restaurant meals on your credit card, it could take you as long as 30 years to pay off the balance if you make only the required minimum monthly payments. By then, all of those “important” purchases will be in the dumpster or down the drain! And you will have paid at least four times the original amount in interest charges.

The same goes for your student loans. They paid for an education to get you a better job and a better future. Now pay down those loans starting immediately, before the blessing turns into a burden.

–Always save something. Make it an automatic habit, so you don’t have to make decisions about whether you can “afford” to save. Set up that Roth IRA at Fidelity or Vanguard, and ask them to automatically deduct $200 monthly from your checking account. Don’t think you can’t afford it. Take a look at your paycheck stub. See that big, automatic deduction for FICA? That’s Social Security — something that will provide very little for your retirement years by the time you get there. And it’s not voluntary!

–Be optimistic. Don’t get buried in today’s personal problems or national headlines. America has survived and advanced through a lot of troubled times over the past 250 years. And, just as previous generations have, yours will go on to make our country more prosperous and a better place for your own generation and those that follow. Never compromise on your basic principles; no reward will ever be worth betraying what you know is right and good. But also accept that your success is what moves our entire country forward, allowing it to grow and care for those who did not have your gifts. In helping yourself, you also help others.

(SOURCE: TCA)

(Article written by Terry Savage)



Source link

health news headlines provided courtesy of Medical News Today.

Advertisement

Advertisement Small

Follow Me

Collaboratively harness market-driven processes whereas resource-leveling internal or "organic" sources. Competently formulate.

View More Job Search Results

Calendar

October 2019
M T W T F S S
« Sep    
 123456
78910111213
14151617181920
21222324252627
28293031  

Pages

Recent Comments

    RSS Meks Blog

    • How to add Instagram photo feed to your WordPress site (in 5 minutes!) October 1, 2019
      How (and why) to add Instagram to WordPress and see more benefits from that match? We give you all the details and tools to do it successfully yourself! The post How to add Instagram photo feed to your WordPress site (in 5 minutes!) appeared first on Meks.
      Ivana Cirkovic
    • 13 best headline & blog title generator tools to easily boost your SEO September 12, 2019
      Ready to increase traffic to your website today? Use these headline generator tools and improve your click-through-rates! The post 13 best headline & blog title generator tools to easily boost your SEO appeared first on Meks.
      Ivana Cirkovic
    • How to create a Facebook Page for your blog (plus PRO tips) September 4, 2019
      Wondering how to create a Facebook Page for your blog knowing that you really do need one? Follow our in depth guide and learn how to create and manage attractive and successful Facebook Page! The post How to create a Facebook Page for your blog (plus PRO tips) appeared first on Meks.
      Ivana Cirkovic
    • Beginners guide on how to redirect a page in WordPress August 29, 2019
      Whether you’re trying to redirect a page in WordPress or just want to discover and understand why it’s important, use this guide to help you get ahead of it and learn all there is to it. The post Beginners guide on how to redirect a page in WordPress appeared first on Meks.
      Ivana Cirkovic
    • The best Facebook Groups for SEO to improve your knowledge and rankings August 21, 2019
      Are you tired of searching for the best Facebook groups for SEO to improve your knowledge and learn about the tricks from the trade? The post The best Facebook Groups for SEO to improve your knowledge and rankings appeared first on Meks.
      Ivana Cirkovic
    • Useful rank tracking plugin and tools recommendation to improve your WordPress website SEO August 15, 2019
      Are you looking for a reliable rank tracking plugin to track your rankings on search engines and improve SEO strategy? Here is our top recommendation! The post Useful rank tracking plugin and tools recommendation to improve your WordPress website SEO appeared first on Meks.
      Ivana Cirkovic
    • 6 reasons why you should never use WordPress nulled themes August 7, 2019
      What are WordPress nulled themes and should you use them, are they really that bad as people say or it’s just to scare you away from using the good stuff for free? In this article, we’re explaining in details why you should never ever use these kinds of themes. The post 6 reasons why you […]
      Ivana Cirkovic
    • Top 6 WordPress Portfolio plugins (hand-picked by designers) July 31, 2019
      Wondering what type of WordPress Portfolio plugins to use to showcase your work? Read our recommendation and choose between these top eight I present to you today. The post Top 6 WordPress Portfolio plugins (hand-picked by designers) appeared first on Meks.
      Ivana Cirkovic
    • Definitive guide to adding Facebook Pixel in WordPress July 24, 2019
      Having problems setting up Facebook Pixel in WordPress? If you want to improve your Facebook ads conversion, use this guide and learn how to properly ad Facebook Pixel in any WordPress site or blog. The post Definitive guide to adding Facebook Pixel in WordPress appeared first on Meks.
      Ivana Cirkovic
    • How to easily create WordPress dropdown menu (without coding) July 17, 2019
      Interested to create WordPress dropdown menu all by yourself and don’t know how? Just follow our guide and learn in no time! The post How to easily create WordPress dropdown menu (without coding) appeared first on Meks.
      Ivana Cirkovic

    Text

    Distinctively utilize long-term high-impact total linkage whereas high-payoff experiences. Appropriately communicate 24/365.

    Archives