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Welcome to Default City

On Monday, there was this crazy article written by CNBC’s Annie Nova suggesting that more that 1 million people default on their student debt each year and, that 40% of borrowers are expected to default on their student loans by 2023! The article was based primarily on two different research papers. The more recent paper, titled[…]

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The Cost of a Peloton Bike: Are the Benefits Worth It?

Years ago, my older brother, living in Minneapolis, asked me to walk into the Peloton studio in downtown Manhattan to do some reconnaissance on this fancy bike. After checking out the latest that fitness technology had to offer, I knew it wouldn’t take long for him – an avid cycler and tech junkie – to[…]

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Personal Finance Red Flags

Do you think your financial health is good shape? Or are you worried about something? It’s ok to feel nervous about finances.  Most people do because they don’t know what there are reading or hearing about. There is a lack of financial literacy among all generations, not just Millennials that keeps everyone on edge about[…]

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Wealthy Millennials vs. Average Millennials

I came across an interesting article on MagnifyMoney.com titled “Where the Wealthiest Millennials Stash Their Money” that compared the top 25% of Millennial households with Average Millennial households. It compared things like how each group invests money, how their financial assets are structured and how their debts are structured. And like any good Millennial, I wanted[…]

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6 Steps for Paying Off Student Loans

Today, the average college graduate leaves school with more than $36,000 in loans and many Millennials are being held back from achieving their goals because of debt from their college education. And don’t think our goals are just buying avocado toast or tickets to Coachella. No. We have real goals. Big goals like starting a[…]

If you need last minute cash, don't tap your 401(k). Have a cash reserve and plan ahead.

Need Cash? Don’t Tap That 401(k)!

Let me share a story with you.  Tom and Jane are a Millennial couple who just got married and are looking buy their first house.  The have saved up some money but have student loan debt.  Unfortunately, Tom just lost his job leaving them with only Jane’s income to pay the bills and the loans. […]

Millennials should have the financial conversation before getting married. Learn how to communicate with your partner about money.

Millennial Financial Conversations to Have Before Marriage

Remember that teasing tune we all used to sing on the playground: “First comes love, then comes marriage, then comes crippling debt!” Is that not how it goes? Maybe I learned the alternate version of the song. I think what was missing between the marriage and the crippling debt parts was a financial conversation between[…]