Browsing Month: February 2019

Young Seniors Have High Non-Mortgage Debt

MoneyTipsDebt is a major barrier to financial well-being among Americans. While we tend to think of debt as an issue affecting young and middle-aged people, the truth is that senior citizens carry debt, too. Among seniors approaching retirement, debt can be an obstacle to maximizing savings. Retirees living on a reduced income may find debt especially crippling in an economy of rising costs. Using an anonymized sample, LendingTree analyzed 2018 second quarter credit report data for 75,000 My LendingTree users aged 65-70 across the fifty largest metropolitan centers in the US. They calculated three main metrics: median non-mortgage debt…

Outcomes are derived from choice, Choose You.

Have you ever heard the phrase, “change your zip code”?  This means if your current actions create the same outcome time and time again, you have to change your zip code to get a different outcome.I learned many lessons from my mentors during my Banking Career.  One of the most valuable lessons was the Bank always does what is in the best interest of its Shareholders.  It is the fundamental responsibility of a Corporation.  Early in my Bank career my mentor granted me stock based on performance and I quickly understood the generous recognition to be a Shareholder.  The wealth…