Expert Insights Into Wealth Creation

On the surface, it appears that debt is a surefire way of limiting wealth creation. Truth be told, not all debt is bad. There are certain types of debt that are regarded as good debt, while others are bad debt. Mortgages (for personal or business real estate) are typically considered good debt, as are student loans. Bad debt is not an investment that will grow in value, and it certainly doesn’t generate income over the long-term. A classic example of bad debt is credit card debt. There are stark...
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Where To Next For The Global Economy?

The Federal Reserve Bank has boldly moved forward with plans to tighten US monetary policy as the world’s #1 economy gradually moves towards its targeted inflation rate of 2%. The Fed is tasked with two key objectives: full employment and price stability. To prevent the US economy from overheating, the Fed has embarked upon a policy of modest interest rate hikes. Currently, the federal funds rate (FFR) is in the range of 1.00% – 1.25%. The Fed FOMC convened on Tuesday/Wednesday (June 13/14) for ...
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Four Practical Insights on How to Take Charge of Your Finances

At the start of this year, people made different kinds of New Year resolutions. The most popular resolutions had personal finance undertones such as getting out of debt or saving up more money. Many New Year resolutions have started to fizzle out on the altar of what's 'practical' as people return to their old ways. Interestingly, your finances tend to have a direct influence on other areas of your life; you can't afford to watch your personal finance resolutions fizzle out. This article provid...
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How To Check Your Real FICO Score For Free?

The law allows you to get a free copy of your credit report from each of the 3 major credit reporting bureaus once every year. You can go to the Annual Credit Report website to request your credit reports at no charge once each year. This credit report lists your credit accounts, history, and other factors. It does not tell you your credit score though, and this is something that you really need to know. In the past you had to pay to see your FICO credit score but this is no longer true....
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Mortgage Applications: Now Versus Then

Perhaps it’s been awhile since you last applied for a mortgage. If that’s the case, you’re going to be very surprised by the current lending environment. Much has changed since all that financial unpleasantness took place in the last decade – and all it took to totally revamp how money is loaned and borrowed was the near-collapse of the American economy. Just how different is it? Take a look: Mortgages are more basic Then: As the early 21st Century progressed, the types of mortgages one...
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How The U.S. Government Views Bitcoin

Some time ago we posted an article about the NYSE launching a Bitcoin index and thus, in some financial circles, "legitimizing" the cryptocurrency. In the time since, while it's difficult to say whether or not the index has had any direct effect or not, Bitcoin's price has risen and it seems to be the subject of more discussion and speculation than ever before. But with so many changes in how Bitcoin is viewed in America, and so much increased exposure for the cryptocurrency in general, some ...
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Never Withdraw From Your IRA

Never withdraw from your IRA. There are a lot of good reasons not to do so, including penalties if you're under 59 1/2 years old. There are also times when the expression "rules are made to be broken" applies. Why shouldn't you withdraw? What are the advantages and disadvantages? And when should you disregard the advice to never withdraw from your IRA? Penalties and Taxes on Withdrawing From Your IRA Early Accessing the income you've set aside for the future might seem like a good idea durin...
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Budgeting Tips to Keep Your Finances Healthy

Consider if you will, the concept of a budget. It's one of those things that, like a diet or exercise regimen, is a good thing to follow, will do you a world of good, but is quite frankly a fun-murdering pain in the rear end. (more…)
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Finding Freedom on A Fixed Income

If retirement is looming on the horizon and you're concerned about your financial capacity, here are some tips to help ease your mind. Anyone can stretch their budget and still enjoy those golden years. First thing's first: Sit down with your spouse or significant other and make a list of your combined expenses along with examining your income. If you see something that can be cut from your list of expenses, then get rid of it. Some things many people cut right off the bat include premiu...
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Fiscal Fasting, Trimming Your Budget, and Other Creative Financial Tactics

Trying to manage your finances can be hard. Just figuring out a budget is difficult and then comes the hard part – sticking to it. Here are some actionable effective and creative tips to get your finances organized and start thinking about how your career path fits in with these goals. To be creative, we usually have to step outside of our work-a-day world and look at our lives and those around us with a fresh perspective. When I set out to tackle my financial problems, like not being able t...
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