On this week’s Inside the Economy w/ SH&J, we discuss what last week’s market sell off means for the stock market moving forward. Was it a signal of more to come, or does the outlook for the U.S. economy remain bright? With the recent tax law changes now taking effect, will personal disposable income increase, and if so, by how much? Tune in to find out the answers to these questions and more!
When it comes to your financial life, although every year is important, be sure to pay attention to pivotal years and turning points. Below we review 5 important years of your financial life and what you need to focus on.
At age 25, you have likely completed your college and/or master’s education and have landed your first “real” job. As you grow accustomed to your new salary, it is a good time to start developing key financial habits to carry with you through your working career. You may be juggling various goals like paying off student debt, saving for a house down payment, and making contributions to a retirement savings plan. Target setting aside 10-15% of your salary for retirement from the get go and establish a debt repayment and savings plan. Also, your greatest asset is most likely your ability to earn an income for the next 40 years. Be sure to protect your income with proper disability insurance coverage.