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Michael Vidal, CFP®

Aug
31
Strategy To Get Out Of Debt
If you are like many Americans, you may be in debt and wondering how to escape the clutches of interest payments and the oppressive bills that come every month. Here is a list of bills that might look like your situation. Debt Holder Amount Interest Rate Minimum Monthly Payment Car $7500 3.45% $200 Bank Card $6000 13.5% $175 Personal loan $2500 5% $50 Department Store $1250 12% $75 Department Store $1000 12% $75 Department Store $850 10% $25 Total $19,050 $600 If this list depresses you, join the club. You want to pay them off and become financially free....
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Aug
31
How "Time" Creates More $$$ Than Actual Money
Here is a quick example of the value of saving for retirement early..... Lori saves $2,500 a year from age 25 until age 34 (inclusive) and invests the money in an account earning eight percent annually. Lori stops investing at age 34, but does not withdraw the accumulation until age 65. Lori's accumulation at age 65 is $393,588 even though she only deposited $25,000. In contrast, Peter saves $2,500 a year from age 35 until age 65 inclusively and invests in a similar account to Lori, earning eight percent annually. Even though Peter saved $52,500 more than Lori, he will have accumulated $85,223 less than Lori at age 65.                             Lori         Peter Total Invested $25,000 $77,500 Balance at 65...
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