Today, just one-third of U.S. states require that students take basic financial literacy classes so they can graduate from high school. Despite this, many adults learn how to make and follow a budget the old-fashioned way — through trial and error. So it’s not surprising that many parents worry their kids might struggle to manage their own money someday. With the right age-appropriate resources, teaching kids basic financial literacy concepts can be easier than you might think.
When it comes to the average cost of living, all U.S. states are definitely not created equal. And it’s not just the obvious things, like buying a new home or how much date-night for two usually costs. Plus, the recent tax reform law impacted property taxes at the individual county level as well as across different states. This year, homeowners in politically blue counties will pay nearly 2x more in property taxes compared to politically red counties. That cost difference is no joke — and it could play a big role in choosing where to purchase your home.
One simple truth about retirement is that no one knows for certain how long it’s going to last. This uncertainty can keep you awake at night, but you’ll sleep soundly after finding ways to stretch your retirement income. Simply cutting back on spending isn’t the only answer, and it’s not much fun, either. So, it’s time to get smarter and look at the problem from a financial advisor’s perspective. With the right approach, you’ll be ready for anything — even a lifespan that stretches past your 100th birthday.