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Simon Black  May 17, 2018 San Juan, Puerto Rico Last week, the financial services giant Northwestern Mutual released new data showing that 1 in 3 Americans has less than $5,000 in retirement savings. It’s an unfortunately familiar story. And Northwestern Mutual’s data is entirely aligned with other research we’ve seen in the past, including our own. The Federal Reserve’s most recent Survey of Consumer Finances, for example, shows that the median bank balance among US consumers is just $2,900. And Bank of America’s

Simon Black May 14, 2018 Cleveland, OH, USA On October 22, 1981, the national debt in the United States crossed the $1 trillion threshold for the first time in history. It took nearly two centuries to reach that unfortunate milestone. And over that time the country had been through a revolution, civil war, two world wars, the Great Depression, the nuclear arms race… plus dozens of other wars, financial panics, and economic crises. Today, the national debt stands at more than $21 trillion– a milestone hit roughly two months ago.

The transfer of assets when a spouse dies can be fairly simple—if you learn from my mistakes. The author’s late wife, Dr. Lisa Jane Krenzel. Photo: Courtesy of Warren Kozak By Warren Kozak April 27, 2018 6:34 p.m. ET I pride myself on keeping meticulous financial records. But since my wife died on Jan. 1, I discovered I had made some real rookie mistakes that led to hours of extra work and substantial fees. The transfer of assets between spouses can be fairly simple—if you learn from my mistakes. Dr. Lisa Jane Krenzel and I shared everything throughout our marriage. Like many couples, we split responsibilities. I paid

Published: Mar 21, 2018 9:29 a.m. ET iStockphoto Average household credit card balance in New York City is over $10,000 By  AnoraM. Gaudiano  Reporter A mere quarter percentage point rate increase by the Federal Reserve might seem small and gradual, but for millions of consumers with credit card debt it will be stinging. In a report this week, WalletHub analyzed data and found that U.S. consumers have been piling on credit card debt at an alarming pace, adding $92

Jennifer Ablan NEW YORK (Reuters) – Investors should brace for a possible replay of the 1987 stock market crash later this year, given this month’s slump came against the backdrop of Federal Reserve interest rate hikes and rising inflation, Scott Minerd, Global Chief Investment Officer at Guggenheim Partners, said on Tuesday. “Eventually the Fed will acknowledge that three rate hikes will not be enough, but it is going to raise rates four times in 2018, and market speculation will increase that there may be a need for five or six rate hikes. That will be the straw that breaks the camel’s back,” Minerd said in a note to clients. On Monday Oct. 19, 1987, following large declines

Evann Hopkins

Devise and Design Event Planning

 

Entrepreneurship has become all the rage.  The business world is sliding away from the traditional 9-5 work life, and more towards the small business work from home kind of environment.  Being an entrepreneur can be freeing, but can also be very overwhelming.  Let’s take a look at the pros and cons of entrepreneurship and the financial side of it. According to Shobhit Seth, from Investopedia, entrepreneurs are important for the economy because they create new business, add to national income, create social change, and farther community development. From their earned wealth, many of them create jobs and better conditions that lead to a more prosperous society. Of course, with every situation there are ups and downs.  Let’s look at the reasons to love being an

Tactical Tax Time

Evann Hopkins Devise and Design Event Planning

We are in the midst of one of the most dreaded times of year. TAX TIME! It’s a time of confusing forms, deductions, and deadlines. There are over 70,000 pages in the tax code, so it’s no wonder people dread this time of year. Do you ever wonder how taxes became what they are today and what they were like 100 years ago? Having these answers will help us better understand the tax laws we deal with today. Since the dawn of civilization there have been taxes. Before currency existed, grains, animals, and other goods were supplied to the leaders/royalty. This was in exchange for residence in their home, and use of town buildings and supplies. The poor were usually the

Evann Hopkins

Devise and Design Event Planning

                The working world has changed drastically over the past couple decades. As we speak, things are changing.  With the emergence of more developed technology and social media, things have turned in new directions.  Let’s look at some of the ways in which the working world has changed and what this means for us. According to Business Insider, 86% of business jobs in the US now pertain to offering services instead of making things.  Services are wanted more so than the actual product.  Many people are attempting to create things on their own.  If they cannot create something on their own, or have no desire to create it or purchase it, then they will hire someone to create it for them.  Some professionals have

#millennialnation

Part 6

The Facts

Evann Hopkins

Devise and Design Event Planning

In the past 5 articles, we have looked at Millennials from all sides.  We dug into their past.  We looked at their financial attitudes.  We explored their interaction with social media.  We shed light on their roles in the workforce, and we explored some myths and tactics for marketing to them.  In this last section, I will leave you with some interesting facts and statistics about Millennials.    

Work and Education

  • 64% of Millennials would rather make $40,000/year at a job they love than $100,000/year at a job they think is boring.
  • 284,000 American college graduates were working in minimum-wage jobs in

#millennialnation

Part 5

Marketing to Millennials

Evann Hopkins

Devise and Design Event Planning

                With the rise of the Millennial generation has come the change of many traditional processes.  One of these being marketing.  Traditional outbound marketing no longer works on the new Millennial generation.  They have grown up in different environments than previous generations and these traditional strategies do not attract them. Let’s look at some reasons for this and some marketing strategies that will bring the Millennial generation to your business’s door. Marketers are using the same techniques they have used for years. These techniques have always been effective and have gotten the job done.  However, most of these techniques do not work on Millennials.  Companies are starting to realize they need to step up their

#millennialnation

Part 4

The Finances of It All

Evann Hopkins

Devise and Design Event Planning

The Millennial generation is the largest to date.  Every day more and more of them are joining the professional workforce.  Within 10 years, Millennials will dominate the working world, and will be making many of the important decisions for our nation.  For anyone to be successful in life, they need to understand finances and be smart with their money.  Let’s take a look at the financial attitude and habits of Millennials thus far. In my previous series X and Y but not Z, I look at some of the financial habits of Millennials.  To get this basic overview check out part 3 and part 4 of this series.  Most

#millennialnation

Part 3

In the Workplace

Evann Hopkins

Devise and Design Event Planning

  Millennials are rapidly entering the workplace, with the oldest of millennials entering their mid-30’s, and the youngest of millennials graduating high school.  The workforce world has changed dramatically because of internet and social media, and millennials know just how to work this system.  Let’s look at how millennials do in the workplace, and what the future may hold. There are many stereotypes when it comes to millennials in the workplace.  Some say they are lazy, can be narcissistic, jump from job to job, are distracted, and unreliable. This is just to name a few.  While there are some millennials who have these traits, clumping a whole generation into these boxes is not a fair