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Here are Today’s Best Posts:
The great Albert Einstein said, ” Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it. ” I couldn’t have said it any better myself. For anyone who wants to build lasting wealth and accomplish financial freedom, understanding and harnessing the power of compound interest is essential.
As you get closer to retirement – early or not – you’ll hear plenty of warnings about how isolating it can be. You’ll be excited about all of the new-found freedom you’ll have, but you’ll probably miss talking with your colleagues at work each day – even if they aren’t your close friends.
If you have a little bit of money saved up, then you probably are interested in protecting it. Umbrella insurance is a low cost way to mitigate risks and protect yourself from personal liability lawsuits and claims. Because umbrella insurance is purchased in addition to your home and auto policies -and only kicks in when those have been exhausted- it can be exceedingly affordable, even for relatively large amounts of coverage ($1m+).
Schools don’t do a very good job when it comes to teaching even the most basic money management skills. Without that foundation of knowledge, it’s no wonder so many people make money mistakes that cripple their ability to reach their goals.