You could say that personal finance is a scientific art. On the one hand, it is about money and math. On the other, it’s about values, goals, and self-control. It’s easy to say that the key to financial security is to spend less than you make. Surely, subtracting a smaller spending number from your larger income number will result in a remainder which can be saved or invested. But that is not so simple.
More money than ever has started to pass from the baby boomer generation to the Gen X, Gen Y and millennial’s. In total, it’s possible that $30-70 TRILLION dollars might pass through the generations!
Many people are unsure of what to do when they receive an inheritance.
How much inflation can the country afford before we’re in trouble?
Let’s discuss.
First, let’s get on the same page about some basics.
If you’ve noticed the price of a thing increasing over time (say, your favorite candy bar or the cost of college tuition), that’s inflation in action.
Economists use the broad increase (or decrease) in prices of goods and services across the country as a measure of economic health.
Do you find yourself believing the negative hype and frequently grumbling about how the market is going to tank any minute? Does it seem that all news is bad news, especially when it comes to how it will impact your investments? Maybe the sky is falling, but maybe this is just negative speculation intended to sell newspapers and get eyeballs onto television news screens.
With a new presidential administration in office, we can expect changes to the tax laws.
It’s as inevitable as death and … well, taxes.
In this post, I’m going to go over what you can do now to plan for change when you don’t know what that change will look like!
