Several debt management strategies can be implemented that will put you on the path to accumulating wealth. I would like to take a look at several types of debt and begin to dissect them. Finally, I will make a recommendation as to one possible way to attack your debt. How Much Debt Do Folks Have? While the total outstanding debt on a national basis is a record $15.84 trillion, including mortgages, here is a list of the average amounts of outstanding debt by age group, excluding mortgage … [Read more...] about How Proper Debt Management Will Make You Wealthy
Debt
Nine Strategies for a Debt-Free Life
A debt-free life, what would that be like and how do you achieve it? Living debt-free is a life that is stress-free. A stress-free life is something that you can become comfortable with. Once you achieve such a goal, you will never go back. Detailed below is how you can achieve a debt-free life. LIVE ON LESS THAN YOU MAKE This tip sounds simple, but it is not for many people. Most want to keep up with the Joneses. Trust me, the Joneses are not having fun. They are actually broke! If … [Read more...] about Nine Strategies for a Debt-Free Life
Are Target Date Funds Right for You?
Target Date Funds are all the rage! Do you have your investments in them? They can be used for retirement funds, HSAs and 529s. Is this the smart direction for your investing? Will you maximize your returns? Let’s take a look at them and then you can decide if this is your best course of action. What are Target Date Funds? Target Date Funds are sometimes referred to as Life Cycle Funds. These funds take an approach based on one’s potential life cycle. For example, if you plan on … [Read more...] about Are Target Date Funds Right for You?
The Debt Epidemic: Cure it Forever
America is drowning in debt. The average debt in America increased by $601 billion in the last quarter compared to the previous year. Mortgage debt rose by $120 billion. Student loan debt increased to $1.51 billion. Auto loans increased $16 billion. Credit card debt increased by $46 billion. A train wreck is in the making! Not only has the outstanding amount of borrowing been steadily increasing, but the delinquencies have grown as well. Credit card delinquencies stand at 8.36%. Student loan … [Read more...] about The Debt Epidemic: Cure it Forever
Considerations for Dealing with Debt
When you consolidate your debt, there is the possibility that you could lower your interest rate. The payments may be lowered and there will be only one payment to make instead of numerous payments. When you consolidate into one loan, you most likely will be extending the time to repay. When you do that, it will take longer. If it takes longer, the lower interest rate will become irrelevant because you may end up paying more interest because the debt will be outstanding longer. So, is there a … [Read more...] about Considerations for Dealing with Debt
Yes, the State’s PSPRS Debt Can Be Solved
It is no secret. The Arizona Public Safety Personnel Retirement System (PSPRS) is in desperate circumstances, just as are so many pension systems across the nation. Overall, Arizona governmental units owe $6.3 billion to the pension fund. The debt continues to grow because of several factors, primarily, poor investment decisions, a much less than expected rate of return on fund investments over many years and a recent court decision (Fields case). A second pending court decision (Hall case) … [Read more...] about Yes, the State’s PSPRS Debt Can Be Solved