The State of Student Debt

Key Takeaways

  • More than 70 percent of college graduates have outstanding student loans—with an average balance of $37,000—when they graduate.
  • Studies show millennials are far more concerned about paying off student debt and increasing their savings than they are about their retirement.
  • The sooner you can pay off student debt, the sooner you can start your adult financial life and wealth-accumulation years.

Begin With the End in Mind

Key Takeaways

  • Beginning with the end in mind helps build a picture of your future that pulls you in versus pushing you towards it.
  • When we look at investment portfolios, we want to look at least five years out to help build that future.
  • By beginning with the end in mind, we pull ourselves to where we want to go, through all of the noise and distractions that can confuse us about our investments.

The 5 Principles of Financial Grit

 

Key Takeaways

  • When it comes to success in life, research shows that grit is even more important than talent or intelligence.
  • People with financial grit have a clear understanding of the value they deliver to those who pay them.
  • Financially gritty people also commit to lifelong learning, bounce back from money setbacks, always focus on their ultimate purpose, and make tough decisions.

To Buy or Lease a New Car

Key Takeaways

  • Leasing limits your mileage, but it doesn’t tie up cash and it lets you drive a late-model car, repairs are limited, and you don’t have to deal with selling.
  • Buy if you’re looking at used vehicles or if you plan to drive the car for three or more years.
  • If you expect any major lifestyle changes that would require you to own a different car or to drive a lot more than usual, stay away from a lease..