Why New Year's Resolutions Suck

Every single year millions of people start the New Year with high hopes of finally achieving their resolutions. For some reason, they’re actually going to accomplish them because this year is going to be different.

They’re not going about it any different from previous years, but for some reason this year they’re finally going to be able to check that resolution off the list. I feel like this is the exact definition of insanity – doing the same thing over and over again and expecting a different result.

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Why the Heck Don't You Use a Rewards Credit Card? 

I’m not sure if I have a problem, but I am always curious to see what type of credit card people use when checking out. I certainly see a wide variety, but inevitably I see a lot of non-rewards type credit cards and debit cards.

Now don’t get me wrong, I am sure I’ve misidentified plenty and also know there are debit cards that offer some sort of cashback. And I will admit, this definitely wasn’t any kind of a scientific experiment, but I feel like I’ve been doing this for quite a while (hopefully, this doesn’t put me in creepy status).

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The 3 Financially Savvy Things You Must Do After Getting a New Job

So you made it through all the interviews and landed a great job. Now it’s time for the rubber to meet the road. Getting a new gig is great, but for many of us, it is change and that can always lead to a lot of stress.

You now have a new commute, a new role, new colleagues and a completely new routine. Dealing with all of that is hard enough and certainly can add a little anxiety in your life. Take a deep breath and relax. You made it through the hard part.

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Low Mortgage Rates Still Add Up to a Lot of Money Over Time

Do you know how much interest you are paying over the life of your mortgage? I’m guessing you didn’t pay much attention to that after going through the giant stack of paperwork to secure the mortgage in the first place. For most of us, we simply grit our teeth and just start signing.

Well, somewhere in that stack of paperwork was your amortization schedule (fancy loan officer jargon). This is a form that shows all of your payments for the life of the loan and how much interest you would be paying over that time frame as well.

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Why Shouldn't We Discuss Personal Finances with Friends?

You’re sitting at happy hour and then all of sudden that one friend brings up a conversation that has to do with money. All of a sudden you start fidgeting, sweating and feeling completely awkward. But why do so many people feel this way when it comes to discussing personal finances with friends?

We literally discuss every taboo subject in the world with our friends. Whether it’s someone going through a divorce, rumors of infidelity, your kids driving you crazy, how much you can’t stand your spouse, etc. We’re even more than happy to discuss other people’s finances.

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The 5 Things You Should Do After Purchasing Life Insurance

1. Review Your Policy.

That’s right, I’m actually recommending you open up and look at that giant life insurance document you received. Please don’t just throw in a file for it to never be seen again.

I know it’s intimidating but do it. It won’t be that bad. I’m not asking you to study or memorize it, but rather peruse through it to make sure everything is correct.

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How Much Life Insurance Do You Really Need?

At a certain point in your life you realize you might need life insurance, but how much is the right amount for you? Continuing on with our theme for Life Insurance Awareness Month, let’s take a look at this very common question you’ve probably asked yourself.

So, how much life insurance do I really need? Well, depending on who you ask will depend on your answer. You could call a life insurance agent, financial planner, wealth advisor, etc. and get a different answer from each of them. Are they all right or are they all wrong?

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How 15 Minutes Could Get You 15 Times the Return

No, this isn’t some kind of get rich scheme that I’m pitching but rather something everyone who has a savings account should really consider. According to gobankingrates.com, as of April 2016, the average savings account interest rate was only .06%. That’s right, only .06%!

Believe it or not, though, I have seen many clients who branch at their local (insert giant bank name here) earning a measly .01%. That means if you had $50,000 sitting in a savings account there, your annual interest would add up to a whopping $5!

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One of the Biggest Pitfalls to Maxing Out Your 401k Early in the Year

First of all, congratulations that you are able to max out your 401k. Whether it’s $18,000 if you are under 50 years old or $24,000 if you’re over 50, that is a lot of money to sock away on an annual basis.

Now that we have established you're contributing the max, the next question I ask is do you receive matching contributions from your employer? If the answer is yes, another congratulations are in order because not all employers provide a company match.

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NextGen Wealth, LLC is a registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation discussed herein.

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