July 3, 2022

88kratom

Top News At 88 Kratom

npressfetimg-6261.png

Paying off debt, saving money and retirement planning: How to prioritize your financial goals – CNBC

Determining the best way to ensure your financial security can seem overwhelming.For James and Miche.......

Determining the best way to ensure your financial security can seem overwhelming.

For James and Michelle Bethe, deciding what to do with the $200,000 they had in savings had them at a standstill. As a teacher, Michelle, 36, has a pension for retirement and James, 38, has some money in a 401(k) plan.

For Michelle, the money is best kept in the bank for emergencies. James, however, wanted to get rid of their car payments and pay down some of their mortgage.

“The ultimate peace of mind is to be financially free,” said James, who lives in East Brunswick, New Jersey with his wife.

Their solution came in the form of a verdict on CNBC’s “Money Court,” rendered by O’Shares ETFs chairman Kevin O’Leary.

James and Michelle Bethe were in disagreement about what to do with their $200,000 in savings.

Source: James and Michelle Bethe

He decided they should put $130,000 towards their mortgage and pay off the $20,000 remaining on the auto loan. The rest was left for savings. To begin investing, he suggested the Bethes automatically start putting $100 a week into an index fund.

Yet everyone’s situation is different.

In general, it’s best to take a balanced approach — paying off some debt while still saving, said Cathy Curtis, founder and CEO of Oakland, California- based Curtis Financial Planning.

Debt strategies

High-interest credit cards should be the first …….

Source: https://www.cnbc.com/2021/09/15/how-to-prioritize-your-financial-goals.html