Refresh this page to randomly rotate these finance tips and thoughts from Mike on money.
Mike’s Finance Tips
It doesn’t make sense to try and get 4%-7% returns from the stock market (or from savings) if you are paying 16%-30% interest on your credit cards.
Pay off all your credit cards first—and keep the debt off you—then invest in the stock market.
Mike’s Thoughts on Money
The average 401k only has a median value of $65,000. Yes, SIXTY FIVE THOUSAND.
For a 65-year old person who wants to retire, $65,000 dollars is a joke.
Even if you also have social security benefits, SSI is only funding about 40% of your living expenses.
Wall Street has been looting the 401ks that people think will save them when they retire.
Don’t keep doing what the majority of people do — They blindly contribute to a 401k, invest nothing, buy no assets, have no financial plan, and blame the government when they go broke.
Disclaimer: This finance tip was written for educational and entertainment purposes only. This is NOT financial advice. Always do your own research and please consult with a licensed attorney before making any serious investment. We are not responsible for any investment decisions that you choose to make.