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Snowball vs. Avalanche: Two Ways to Pay off a Mountain of Debt

There are many Americans who have found themselves stranded atop a mountain of debt. For those determined to navigate down the mountain the first question is, “Where do I start?” If you have multiple debts of various sizes and interest rates, it can be difficult to decide which debt to pay off first. Here are two ways to come down from a mountain of debt, aptly coined the Avalanche method and the Snowball method. (more…)

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9 Tips to Save for Retirement the Modern Way

When I talk with friends and colleagues about retirement, the term “retirement” doesn’t have the same connotation it once had. Different people, from different generations don’t have the same long term financial goals. Many 30 year olds have watched their parents work their hands to the bone in order to put together enough money for retirement, which for most consists of living out their twilight years as they choose. That lifestyle is not as appealing as it once was. Something changed. Younger generations don’t want the same life as their parents; they want to spend more time, at a younger age enjoying life. Regardless of what “retirement” means to you, in order to truly be able to live the lifestyle you desire, you’ll need financial independence to do so. (more…)

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It’s OK to Talk to Strangers, it may even be good for you.

There is a lot more to creating wealth than to just grow a bank account. Social capital is just as important, if not more, for our overall well-being. As the saying goes, “money doesn’t buy happiness.” The good news is, although we tend to go through our days avoiding opportunities to make social connections, they are much easier to come by than money is. And according to a study published by the University of Chicago, figuratively speaking, social connections do buy happiness. (more…)

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