How To Calculate Annual Income: A Step-by-Step Guide

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A person’s annual income is essential information, but not everyone knows how to calculate this magic number or even what to do with it. Knowing your yearly salary is vital for significant purchases, like a house or car. Creating a budget or meeting your personal or family financial goals is also essential. This figure, simply the amount of money an employee earns annually, can be determined quickly. Key Terms There are some key terms to learn before computing one’s annual income. First and foremost, we need to define … Read more

Pros & Cons of the F.I.R.E Movement

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Most people dream of the day that they clock into work for the very last time. In most cases, we imagine that’ll be when we’re in our 60s. But what if you could take the freedom and independence of retirement and experience it 20 or 30 years earlier? That’s the basic principle of the Financial Independence Retire Early (F.I.R.E) movement, a community of young people who aim to live a lifestyle that allows them to retire in their 30s or 40s rather than their 60s and 70s. While … Read more

6 Common Reasons Why Workers’ Compensation Claims Are Denied

6 Common Reasons Why Workers' Compensation Claims Are Denied

It wasn’t until the early 20th century that workers’ compensation laws gained momentum in state legislatures across the U.S. Before then, workers often had no recourse when they were injured in factories, railroads, offices, farms, and more. Today, even with stricter safety regulations across industries, workers’ compensation laws continue to offer important protections such as paying for medical costs and lost wages when employees are hurt or fall ill. Nurses and personal care aides account for nearly 15% of reported workers’ comp cases, but injuries and illnesses can … Read more

Financial Discipline and 15 Best Ways To Achieve It

Financial Discipline and 15 Best Ways To Achieve It

Are you an impulsive or a careful shopper? Do you plan your purchases or whip out your credit card on a whim? Your answers to these questions will make you see whether or not you have financial discipline.  Children usually resort to tears or tantrums when they do not get what they want. Fortunately, we all generally outgrow that stage, growing up into more mature and disciplined adults.  When it comes to personal finances, such self-control is especially important.  Knowing how to handle money matters is considered a … Read more

How To Find a Financial Advisor

How To Find a Financial Advisor

There are, quite literally, hundreds of thousands of people in the US who say they provide financial advice. These financial professionals and their firms loosely use the terms financial planner and financial advisor (interchangeably spelled adviser), among other titles you may see, including wealth manager, financial consultant, or financial analyst. Sadly, many financial professionals at these companies are little more than salespeople peddling proprietary financial products like insurance policies, high-cost mutual funds, and annuities. You can usually find competent financial advisors at all wealth management firms; The problem … Read more

More Americans are Turning To TikTok for Financial Education

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Filling a Void There is no national education requirement for financial literacy in the US, leaving many Americans under-informed on topics such as saving, budgeting, and smart spending. Americans looking to fill this void are turning to the internet to source financial info, but obviously, some sources are better than others. (You should really check out On the Money and SoFi Learn!) In particular, TikTok has become a go-to source for personal finance tips. (You can even follow SoFi on TikTok! ) Textbook TikTok A staggering 80% of Americans aged 18 … Read more