So youve survived college. You head out into the working world with your fresh diploma in hand and land a plum job making more money than you couldve ever imagined. Your first instinct is to go get that big screen TV or plush ride that youve been eyeballing for the past year. After all, why not? Youre making the cash now, you can afford it, cant you? But wait. Before you take the plunge on that big ticket item, practice that old safety adage they taught you way back in e…
Making Yourself Smart Investments
There is a harsh fact about reality. The good job that you have may not last your entire life or career. The stability of the job may change and the particulars about it may change it to one that is completely undesirable. You must think ahead and plan on making your money work for you. No matter how much you have, you must plan on saving at least three months salary for a rainy day. Additionally you must set aside a proportion of your salary to invest now in well performing …
Saving for Retirement in the New Economy
Lets face it. Most of the financial advice out there says something like this, If you make on average $60,000 per year Most of the advice is designed for baby boomers about to retire. The young generation 35 years-old and under are not going to relate when their incomes range from $25,000 to $40,000. True their income may rise someday but there is a good chance it could decrease with the onslaught of lay-offs, downsizing and cost cutting. The wages their parents earned who worked at companies like GM making a combined income of benefits and wages in the $65 per hour range are not likely to be around in the future. Many of these companies have two-tier wage systems that hire new workers somewhere around $24 per hour (benefits and wages combined). Not only are low wages going to be a problem but also lack of employment opportunities, high interest mortgages, expensive college education, lack of social security income and major cut backs in all federal spending. So what strategies should a young person making his/her way in a tough times economy to do?