Hillary Is Influenced By Her Paid Speeches

Hillary is influenced by her paid speeches
Photo credit Robert Goun

I’m not in the tank for Bernie or Hillary. I would describe myself as a Republican leaning Libertarian. That said, I love following political races and enjoyed the Democratic debate this past Thursday. One of the most contentious moments was when Hillary accused Bernie of attack by insinuation, saying that he is calling her ‘bought.’ For those that don’t follow politics, the issue is whether Hillary is influenced by her paid speeches. She has made millions of dollars from these engagements since leaving office. Let’s take a look at why Sanders has been able to make this such a big issue in the Democratic race for President and how lessons from this can apply to your everyday life.  Continue reading “Hillary Is Influenced By Her Paid Speeches”

Seven Months Ago I Predicted a Tech Stock Crash, How Did I Do?

tech stock crash
Everybody remember Pets.com? That didn’t end so well. Source

Back on June 30 in “How Tech Workers Can Get Ready For a Coming Crash“, I predicted that a tech stock crash was coming. My rationale was based on the huge size of many of the largest tech companies relative to their earnings. I profiled 11 household names and looked at how they were trading relative to their earnings. I took particular care to warn that many of these big tech names were losing money and could collapse in value. Let’s see how I did. Continue reading “Seven Months Ago I Predicted a Tech Stock Crash, How Did I Do?”

Millennials’ Student Loan Knowledge is Hilarious, and Sad

student loan knowledge
Source

A recent article I saw over at Bloomberg showed me why the student loan crisis is so bad in this country. Apparently most Americans’ student loan knowledge is approximately zero. When you don’t know what you owe, who you owe it to, or the different payback strategies that are available, how can you ever crawl out of the hole? I’m going to review several of the most shocking findings from this survey, and then provide some thoughts as to what you can do to increase your financial literacy in this important area of personal finance. No one wants to end up like Obama or Rubio who both were paying their loans off until their mid 40s. Continue reading “Millennials’ Student Loan Knowledge is Hilarious, and Sad”

Why the Iowa Caucuses Made Me Love the Roth IRA

love the Roth IRA
Source

How about those Iowa Caucus results? Bernie Sanders and Hillary Clinton ended up in a virtual tie, and the top three Republicans finished within a few percent of one another. Looking at the entrance polls on CNN last night, I had a random financial thought and realized I really needed to share it with you. Last night’s Iowa causes just made me love the Roth IRA. Here’s why. Continue reading “Why the Iowa Caucuses Made Me Love the Roth IRA”

Trump and Bernie Would Destroy the US Economy

Trump and Bernie
Source

A lot of you out there are ‘feeling the Bern.’ Others, including future Hall of Fame QB Tom Brady, want to ‘make America great again.’ There is just one problem. Trump and Bernie would destroy the US economy, and I have the numbers to prove it. If you like either man, you’ll see a lot you don’t like. Read to the end though to see I’m bipartisan in my prediction of economic doom with either one of these two men in the Oval Office.  Continue reading “Trump and Bernie Would Destroy the US Economy”

Most Americans Save Almost Nothing

source

I’ve never visited a payday loan store in my life, but if you drive around the streets of many communities in America, you see them everywhere. Pawn shops, their close cousins, are similarly ubiquitous. I’m not talking about the the cute specialty stores dealing in high end collector merchandise on the History Channel. Most pawn shops take your wedding ring as deposit and give you a $500 loan with 20% interest. Pawn shops are just another way to get a super high interest loan. Also, how are there so many check cashing places at convenience and corner stores in lower income communities? Why do you get dozens of credit card offers a year in the mail? The answer to all these questions is the same: most Americans save almost nothing. Continue reading “Most Americans Save Almost Nothing”

Millennial Missionary Wants To Save For Retirement

millennial missionary
Source

I got a really interesting email from a millennial missionary reader in Malawi. I’ll call him Kirby to preserve his anonymity. Kirby is a 20 something college grad, but he has no retirement plan or other employer savings program. This is a really common problem for workers in the ministry, as churches and other nonprofits tend to not put a lot of thought into benefit programs, or can simply not afford them. What’s a guy to do when he wants to be responsible and prepare for his future but has no organized program to help him do it? Here’s the email below, edited for length and clarity.  Continue reading “Millennial Missionary Wants To Save For Retirement”

New Jersey Will Have a $10 Billion Hole In Its Budget In 10 Years

New JerseyMy goal here at Millennial Moola is to bring readers financial articles they won’t get anywhere else. While this site’s target audience is millennials, I’ll write about anything if I deem it relevant to the financial health of Americans in general. It’s for that reason I want this week to be focused on the failing financial health of the state of New Jersey. While New Jersey is the worst actor, there will be smaller crises like this one all over the nation over the coming years because of the failure of politicians to make the payments for the benefits they’ve promised to public employees. I estimate that New Jersey will have a $10 Billion hole in its budget by 2026, with no way to pay it besides drastically increases taxes, cutting public retiree benefits, or defaulting on its billions of dollars in municipal debt.  Continue reading “New Jersey Will Have a $10 Billion Hole In Its Budget In 10 Years”

New Jersey Teachers’ Pension Fund Has Eight Years to Live

New Jersey Teachers' Pension Fund
(photo credit)

Before I started this website, I worked in the municipal bond business. Everyone in that world knows New Jersey’s finances are a basket case. However, no one is talking about right now is how badly the the latest stock market crash has affected the New Jersey  Teachers’ Pension Fund. It speeds up the timeline for Armageddon in New Jersey by years. People are lazy. They look at the latest published reports for their information. However, by simply extrapolating their cash burn rate it is clear that the New Jersey Teachers’ Pension Fund will run out of money. The fund will be totally gone within 10 years. New Jersey will owe billions in payments to retired teachers that it doesn’t have. At that point, I conservatively estimate that New Jersey slashes teacher pensions by 50% and New Jersey raises taxes by about 30%. Continue reading “New Jersey Teachers’ Pension Fund Has Eight Years to Live”

When Two Irish Guys Invite You to a Mexican Wrestling Match, Say Yes

12523089_10156365360395398_6175197410888653190_nWhen random things happen while traveling, you should generally jump at the chance. You will get stories that are so absurd, you’ll be impressing friends at cocktail parties for years to come. The biggest surprise I’ve had this week was going to my first Mexican wrestling match at Arena Mexico, total cost ~$6. Continue reading “When Two Irish Guys Invite You to a Mexican Wrestling Match, Say Yes”