personalfinance
Mike and his wife were keen to support their daughter's wedding plans. To avoid the usual disputes over marriage preparations, they found a simple solution—giving their daughter $20,000 so she could organise the wedding as she pleased. Mike had estimated in 2015 that wedding costs in the Kansas City, Missouri area would be between $15,000 and $25,000, so the couple decided to contribute $20,000 to the wedding. He and his wife understood that costs often exceed the budget, so they opted to give her a lump sum instead of overseeing each expense with their daughter. This approach allowed the enga...
IBTimes
Retired high school teacher Anjali Teirra, aged 58, has lived in her three-bedroom house without homeowners insurance since 2019. She initially took out a policy for her home in the Tehachapi Mountains of southern California in late 2018, which cost her under $100 monthly in premiums. This was affordable and provided peace of mind, especially considering her home was located in a "very high" fire hazard severity zone. However, she received a renewal notice the following year and was shocked to see her monthly premium had increased to $350. With a pension of $3,500, Tierra decided to search for...
IBTimes
We all have dreams, like that vacation to Iceland, a down payment on a house, starting a bakery business, or finally stopping living paycheck to paycheck. Those dreams, however, can feel distant amid the daily grind and responsibilities. This is where side hustles come into play: a way to make extra money without making complete sacrifices. The problem? Side hustles tend to require a substantial time commitment. However, what if you could add a little financial cushion without sacrificing too much of your precious time? Well, you’re in luck. Plenty of side hustles don’t take up a lot of time. ...
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ValueWalk
Traditional investing is often a limited and narrow form of wealth generation. Things like publicly traded stocks and bonds have nuance, but they only go so far for an investor looking to truly diversify their portfolio. They also don’t offer the same high-risk, high-reward that most investors want to integrate into a more extensive distribution of assets. If you already have a solid investment structure and are looking for ways to expand and improve your upside, you want to consider private credit. This unique form of investing is similar to but not quite the same as private equity. Investing...
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Mirroring the the financial challenges faced by many elderly Americans, a US senior finds herself in a dire situation with not even a dollar to her name despite a lifetime of hard work. This scenario represents a critical issue: the precarious financial state of many older individuals who are forced to seek employment to make ends meet. As traditional safety nets weaken and the cost of living continues to rise, it becomes increasingly crucial for people to adopt effective strategies to secure their financial future and avoid such predicaments in their retirement years. To understand how senior...
IBTimes
People dream of the day they’ll retire. They work hard for decades to reach the time they can hang up their work keys and finally pursue their outside interests. Some people have plans to travel, while others want the freedom to putt around as they see fit. They may want to spend more time with family, move closer to grandkids, or finally finish their memoir. However, retiring too early can potentially have negative financial consequences you have to endure for years to come if you’re not thoroughly prepared. How can you know when is the right time to exit your company and when you should work...
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ValueWalk
ValueWalk
Raising children is a rewarding experience — the best in fact — but it also involves significant financial responsibilities. The cost of raising a child is a critical factor that parents need to consider when planning their family. This article provides an in-depth analysis of the financial implications of raising three children until they’re 18 years old. Understanding the average cost of raising a childThe average cost of raising a child per year is approximately $26,000. This figure is an average, meaning it can vary significantly depending on various factors such as location, income, and p...
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