So, some people believe that you shouldn’t EVER have debt. I don’t subscribe to this theory. There are times when debt may help. What is the difference between “good” debt and “bad” debt? Well, a simple answer is that good debt helps you finance something that will potentially increase in value, for example, a mortgage. …
3rd Quarter 2021 SWMG Newsletter
For the first time in several months, September has brought more volatility in the U.S. markets. We had the first 5% pullback we have seen in many months. Normally we would experience a few pullbacks of 10% or more in any given year. After participating in the fastest economic growth since 1984, strong earnings growth, …
Student Loans
Forbes published an article about the student loan debt crisis a couple of years ago. Among the concerning statistics shared in the article, there was this little tidbit….student loan debt has now surpassed credit card and auto loan debt, making it the second highest consumer debt category, totaling more than $1.5 trillion. Unfortunately, dealing with …
Credit Card Debit
Welcome to October, which is National Credit Card Awareness month! There was an article published on the Credible financial website that did a survey of 500 Americans with credit card debit. The survey said that of those survey participants, age 18-34 years, 33%+ said that debt is the scariest thing in their life. Just over …
Why Do I Need Homeowners’ Insurance?
When I sat for the CERTIFIED FINANCIAL PLANNERTM exam I learned way more than I ever wanted to about different forms of homeowner’s insurance (basic form, broad form, etc.) and will now pass the savings onto the consumer! Oh wait, I have listened to too many commercials. But my time loss is your gain as …
IRA Vs. 401(k) Vs. ROTH – Part 2
Last week, we talked about the differences between an IRA and a 401(k). Both are types of retirement accounts, and the 401(k) is typically administered through an employer, whereas almost anyone can open an IRA. Now, we are going to talk about the Roth versions of these same investment vehicles. I described them as different …
The Ins and Outs of Long-Term Care Insurance
Some people think that when they get older and they have to go into an assisted living or nursing home facility, they will just be covered by Medicare or their regular health insurance. Wrong. Medicare doesn’t cover much of assisted living or nursing home stays. Your stay could be covered by Medicaid, which is for …
The View from the Mountaintop
As we sit atop our prosperous peak, admiring the views of the fastest economic growth since 1984, the best start to a bull market, and the record-breaking quarter of earnings growth, it’s wise to remember that not too long ago we began our uphill journey from the depths of the COVID-19 ravine. Now it’s time …
Why You Shouldn’t Name a Minor Child as Your Beneficiary
Continuing with September as National Life Insurance Awareness month… One of the main reasons people have life insurance is because they have young kids. Often, people think that they should name their spouse as the primary beneficiary and then the kids as contingents (if something happens to both parents). This blog talks about why this …
Why You Shouldn’t Name a Minor Child as Your BeneficiaryRead More
Do I really need life or health insurance?
September is National Life Insurance Awareness month. So, this month on the Journal I’ll be posting about all things insurance. Insurance is…. well, sometimes you just must have it. Nobody really says, “yay, I have to buy insurance!” This blog will cover life and health insurance. There are 2 things I want you to know …