Leaving a Legacy: Class of 2030

When I started volunteering within my school district three years ago, I had no thoughts about leaving a legacy. I still don’t today, but as I was driving home from our final financial committee meeting before our board of education presentation, in fact, I realize I might just be doing that.

I will be presenting our three-year plan to implemented financial literacy across ten schools, seven elementary, two middle schools and a high school with a population of two thousand students.

Considering our goal is to add curriculum to all grade levels K-12, having an impact on students financial futures are very likely over many years.

A kindergartener entering our school district this year will graduate in the year 2030. I’ll be sixty years old by then, and that student would have years of financial education all because of my efforts started in 2014. A nice little feather in my cap, but not anywhere close to the reason I started pursuing this effort.

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Investing For Future Net Worth

future net worth

Have you ever daydreamed about your future net worth? The key to a bright future net worth might be unraveling the mysteries of the investment markets. There are so many investment options to choose from, difficult terminologies to grasp, little money to invest and of …

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Financial Literacy for Millennials

Millennials have a lot going for them; better education, access to information and groundbreaking technological innovations, and more economic participation to mention but a few. However, at the same time, they have to deal with greater financial difficulties than their predecessors did.

For generations, young adults have been welcomed into the real world by the harsh realities including the hassles of finding a job, paying bills and the need to make major purchases such as a home or a car. In additions to these financial pressures of youth, millennials have to deal with inflated student debts in an uncertain economic climate. The unemployment rates are higher than ever but even for those lucky enough to have full-time professional jobs, budgeting and saving for a house or retirement seems like a far-off dream.

I recently came across an article titled “credit concerns” where an exasperated mother was expressing her bewilderment at her bank’s dubious services that destroyed her unemployed student daughter’s credit. Despite not having a savings history, the bank sent the girl a credit card on her 18th birthday and a few years down the line she was deep in debt with no way to climb out since she was unemployed. The bank knew that the girl, at her young age was predisposed to lavish spending and lacked the financial acumen to manage her personal finances. This is just an example of how such banks and other predatory entities are setting up millennials to fail.

Millennials have been described as spoiled, materialistic and saddled with a sense of entitlement but in truth, many odds have been stacked against them. According to new research conducted by George Washington University, millennials are highly engaged in their financial lives, at least on paper. Majority of them are banked, about 51% have a retirement account, 40% are homeowners and a fourth have invested in bonds, stocks or mutual funds. On the flip side, a majority of millennials are heavily indebted. They could be facing one of the bleakest financial futures in generations. The only way to survive and thrive against these odds is through financial literacy. (#FLM2018)

financial literacy

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5 Ways to save money in the next 30 days

ways to save money

The majority of Americans find that there is just a little too much month at the end of their budget. Just about everyone could do with some more money in their pockets, but most of us can’t simply walk into the boss’ office and ask …

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Mo Money, No Problems

money

I once read something online that I assume was meant to be somewhat of a joke, even if true: Over 60% of parents would rather talk to their kids about sex instead of money, but 100% of kids would rather their parents speak to them …

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The Cost of Seniors

No, I’m not talking about those seniors aged sixty-five or over. Although without a proper health care or long-term care plan that could be expensive too. I’m talking about high school seniors, which our family happens to have two of.

My seventeen-year-old twin son and daughter’s high school days are numbers. We are certainly on the back nine of their high school careers, with roughly sixteen weeks to go, but still have many major decisions, and costs ahead of us.

I’m glad to see that Senioritis hasn’t set in quite yet, but with springtime and longer days closing in we will do our best to the kids focused over the remaining weeks of the high school careers.

It’s something I’ve always preached to them over the years, sure it might sound a bit cliché, or maybe even like the old coach, but I’ve reminded them about giving their best effort, and finishing strong. You just never know who’s watching.

seniors throwing caps

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Spending Habits of Our Teenagers

Last summer I posted an unscientific breakdown of the spending of our three teenagers. Like I said then, I’m sure there has been some study or report that captures this data, but why look further that our personal capital account. Well I’m back with an update, and …

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DRIP Investing Explained

DRIP is an acronym for Dividend Reinvestment Plan, and in this guide, we are going to break down and take a look at what it means, why you should consider it, and what some of the pros and cons of DRIP investing are. If you’re already …

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I Can Do More to Save Money…And You Can Too!

Please welcome Jacob Merkley to the blog today.

My wife, daughter, and I spent the tail end of December and beginning part of January staying with my in-laws. It was great to spend the holidays with family and I walked away having learned a very valuable financial lesson, one that I most certainly wasn’t planning on learning.

My in-laws are very well off. And when I say “well off”, I mean that they live in the richest part of our city, have a mansion for a home, a $150,000 boat, a few cars that total over $200,000 combined, and an investment portfolio that I can only dream of. They definitely have a few million to their names.

Previous to this trip, I had never stayed with my in-laws before and I guess you could say that my eyes were opened as to how they got to where they are financially. I had always chalked it up to their ability to make money, but I learned that it had nothing to do with how much they made.

save money

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EvoShare Review: Earn Cash for Retirement or Student Debt

Have you ever heard of EvoShare? No? Well I hadn’t heard of them either until recently. What they do is such a game changer that I think you might be interested in what they have to offer. Concerned about retirement savings or student debt?

Well, EvoShare is a company that enables you to save for your retirement or reduce your student debt by simply doing something you’re probably doing on a regular basis, shopping. EvoShare service allows you to use a portion of what you spend to be either placed into your retirement account, or pay off a student loan, all while still earning the same rewards you do today.

Even if you don’t have a retirement account set up today, EvoShare will hold on to your cash-back until you set one up.

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Money and Work Songs

Music can be very inspirational and motivating. When it comes to money and work we often need both. I listen to all types of music, often to relax or just calm my mind from the many things I might be focusing on in the moment.

I have written about the connection between music and money before, with the millions of songs in the world it’s hard not to have songs about these topics. Below is my latest list of money and work related songs. Happy listening.

work

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