In 2018, Americans’ debt hit $13 trillion, with the average American carrying more than $38,000 in debt – not including home mortgages. For many, debt is simply a way of life, with more Americans living from paycheck to paycheck.
For those consumed by debt, Chapter 7 or Chapter 13 bankruptcy is an option, with Chapter 7 wiping out eligible debt, and Chapter 13 reducing debt and allowing filers to make monthly payments to pay off the rest.
By Gary Silverman, CFP®
We’re taking a walk through my new book, Real World Investing. What steps do you need to take before you start investing? Last week we touched on savings. Saving money means keeping it safe until you are ready to or you need to use it. This week we’ll look at the opposite of saving—debt.
Valentine's Day is upon us. Love is in the air. We’ve all heard that love will keep us together, but what happens once we’ve been successfully coupled for a while? Eventually, most couples discover that the person they love and adore is a fellow human with failures, phobias, bad habits, and the like. When that realization takes hold it's good to have something more than love (or lust) to keep you together.
Ninety years ago today, a new life was brought into this world. Any child is special, but when you have Irish blood and are born on Saint Patrick’s Day, there is an extra bit of blessing bestowed upon you. Anna Marie Robinson was born in Philadelphia, the same city where the liberty bell once rang out the joy of a free people. That was the city her family bravely crossed the Atlantic to join in the building of this nation. Her father, a member of her family’s first generation born on U.S. soil, was called upon to defend it during the First World War.
Warning: This is one of those articles where I stray into the area of faith and religion. For some reason this tends to make some folks mad. They want me to butt out of that part of their lives and stick with money. So if that’s you, feel free to stop reading and come back next week.
“Water, water everywhere, nor any drop to drink.”—S.T. Coleridge
A recent United Van Lines survey highlighted in Forbes magazine showed that of the 10 highest taxing states, five were in the top 10 states where people were leaving faster than they were arriving. It also pointed out that many of the states in the top 10 exodus list tended to be cold and snowy during the winter. Combine high taxes and miserable weather and those who can afford to have good reason to head elsewhere.
During a recent business trip, I found myself in the lobby of the hotel at 9 o’clock in the morning eating a piece of cheesecake. This is not a normal morning routine for me. But that morning I needed a walk, away from my suddenly smothering hotel room. Then I saw the cheesecake.