Effects of the Student Loan Bubble

Americans owe $1.2 trillion in student loan debt, a number that has tripled in the last decade, according to a recent NY Daily news article. Student debt now exceeds the total of auto loans, credit cards, and home-equity debt balances, making student loans the second largest debt of U.S. households only following mortgage debt. Nearly 20 million Americans attend college each year; of those close to 12 million, or 60 percent, borrow annually to help cover costs. There are approximately 37 million student borrowers with outstanding student loans today, and only 37 percent of federal student loan borrowers (between 2004-2009) […]

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Preparing For Loss of the Family Provider

We all manage our budgets, plan for our major purchases, have financial plan for paying for our children’s college and our own retirement, but we seldom consider end-of-life planning. In reality, 2.4 million Americans die each year — and that number grows every year. Losing a loved one is an unfortunate event. More often than not, we find ourselves unprepared in many ways, especially financially, when it happens. The majority of individuals that lost a spouse between the ages of 30 and 55 described their spouse’s passing as having a “devastating” or “major” impact on them financially. The Center for […]

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Don’t become a victim of elder investment fraud

Sadly, it has become increasingly common for the elderly to become victims of fraud, exploitation or just plain bad advice. An estimated $40 billion is lost every year to investment fraud with losses from seniors totaling as much as $3 billion.  One in five older Americans over the age of 65 — a total of 7.3 million older Americans — have been victimized financially, according to a 2011 survey conducted by MetLife. Factors like mild cognitive impairment, dementia and early Alzheimer’s may, in fact, make seniors more susceptible to falling victim. Fraud and financial abuse against elders is more widespread […]

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Investing Pitfalls

Are you investing money like it was yours for your purposes, or are you investing as a steward of God’s resources with diligence and care? Making a return should be a by-product of doing what God has called you to do. Remember that peace does not come by building up material possessions and it is our motive for investing that determines Godly intent. The management of money requires that it be invested and multiplied, but the world and its marketing powerhouse deceives and manipulates us to invest with wrong motives of greed and fear. Many do not get wisdom or […]

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Getting Your Retirement Plan on Track

It has been a full five years since the 2008 market crash, which wiped out $2 trillion or 20 percent of Americans’ retirement savings. This Great Recession rolled through and wiped out many older American’s dreams for the future. The economic downturn has reshaped the concept of traditional investing and confidence in our free market and its wealth-building promise. The market has recently returned to near historic highs, and still the anxiety of retirement investing lingers among investors. When negative headlines or an economic report hit the news, they often trigger a flight response that can impact our financial health. […]

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Financial Resolutions for 2014

Did you know that nearly one-third of New Year’s resolutions relate to money, with saving more, spending less and paying off debt ranking as the top three ambitions for the past two years? If your 2014 resolutions include financial goals, you’re already on the right track. People who make specific resolutions are 10 times more likely to attain their goals than those who don’t. For a financially successful new year, apply these disciplines to your life right away. Get organized Start by putting your goals in writing and setting short-, mid- and long-term milestones to help you stay on track. […]

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Does Your Wife Have a Secure Retirement?

Ephesians 5:25 instructs husbands to love their wives as Christ loved the church. This love is displayed by sacrificial acts of caring, giving and provision. It is the highest calling for husbands. Statistics show that 8 out of 10 wives outlive their husbands on average by 14 years. Studies also show that a widow not only faces the grief of the loss of her spouse, but also takes on financial obligations that her husband previously supported (2009 Retirement Confidence Survey conducted by the Employee Benefit Research Institute). The physical care of the house, car and other functions we husbands many […]

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How Much is Enough?

When we ask the question, “How much is enough?” it seems almost un-American. We often want more than we have now. More money, upgraded technology, better furniture, better house, better car, more success and more security. It doesn’t matter how much we have invested, we want it to grow to become more. “More” is woven into our psyche, and is the very default of our nature. But what happens when we get more, or reach our goals and aspirations? We still are not satisfied, because there are always new and better attractions; the next goal and level of achievement. It […]

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Social Security Insecurity

After paying into the Social Security system for their entire career, many Americans on the edge of retirement suddenly realize they don’t understand how the system works. They have heard conflicting strategies of when to start taking their benefits. Some say it is best to start collecting a reduced benefit at age 62, others recommend that it is best to delay collection as long as possible because the delayed benefit will be much larger. Other arguments exist about when couples and surviving spouses should claim benefits, and whether or not to take benefits while you are still working. Social Security […]

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Investing 101 for Women

It is a harsh truth that many women either leave money matters to the men in their lives or ignore the importance of financial planning altogether. Couple this with the fact that women face different challenges and financial risks than men, and it becomes clear why women must take charge of planning their financial futures. Women worry with good reason: they outlive men. According to the National Center for Women and Retirement Research, at age 60, a man has a life expectancy of 19 years, but a woman has a life expectancy of 24 years. Those 5 extra years of […]

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