money Archives | Jamie Hopkins Retirement https://hopkinsretirement.com/tag/money/ Retirement Income Solutions Fri, 02 Mar 2018 21:43:47 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10 https://hopkinsretirement.com/professor-jamie-hopkins-talks-end-year-financial-tips-nbc10/ Thu, 04 Jan 2018 21:37:01 +0000 https://hopkinsretirement.com/?p=2910 Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10 Professor Jamie Hopkins Talks Retirement With NBC10 in a new video.…

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Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10

Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with their personal finances, savings, and spending. But what should you do around the holidays to keep yourself on track? In this new video, Jamie discusses best practices for budgeting, spending, and gifting. Perhaps the best financial tip is to reinvestment in yourself.

Additionally, Jamie talks about useful debt management strategies and how to prioritize debt management. Unfortunately, many people start with paying off the smallest account first and then moving to the largest account. Instead, Jamie argues that you should tackle high interest debt first and then move onto low interest debt. The size of the account is not what matters but the cost of the debt.

Check Out The Video

Recently, NBC10 @Issue aired the video.

To learn more and to watch the video, click the link below to see the NBC10 video featuring Professor Jamie Hopkins.

Watch The Video

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Avoid Overspending This Holiday Season https://hopkinsretirement.com/avoid-overspending-holiday-season/ Thu, 14 Dec 2017 15:53:41 +0000 https://hopkinsretirement.com/?p=2892 Avoid Overspending This Holiday Season Professor Jamie Hopkins was recently quoted by Experian in an article telling people how to avoid overspending.…

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Avoid Overspending This Holiday Season

Professor Jamie Hopkins was recently quoted by Experian in an article telling people how to avoid overspending. The most likely group of Americans to overspend are also the group that should be spending the least. Low income individuals and younger individuals tend to overspend the most around the holidays. This can sidetrack their financial goals and increase their debt obligations.

While you want to spend and buy presents for family and friends, set a budget and stick to it. Don’t go into credit card debt just to buy gifts around Christmas.

For a smart way to gift, consider making charitable donations on someone’s behalf. This can be more meaningful than a gift card. It also can help you out come tax time as the gift is likely deductible.

To learn more and read the article, click the link below.

Read Experian Article

 

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Common Reverse Mortgage Misconceptions https://hopkinsretirement.com/common-reverse-mortgage-misconceptions/ Wed, 13 Dec 2017 18:12:23 +0000 https://hopkinsretirement.com/?p=2890 Common Reverse Mortgage Misconceptions Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about…

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Common Reverse Mortgage Misconceptions

Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about reverse mortgages. Many people do not know that a reverse mortgage is a government insured program. Additionally, when a homeowner gets a reverse mortgage they maintain title of the home. This is actually a requirement of the program. In essence, a homeowner uses a reverse mortgage to borrow money from the bank by securing the loan with the home. Instead of making monthly payments like with a normal mortgage no monthly payments are required. With a reverse mortgage is repaid when the homeowner stops using the home as the principal residence.

Watch the video below to learn more about common reverse mortgage misconceptions.

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Bitcoin and Digital Currency Fever https://hopkinsretirement.com/bitcoin-digital-currency-fever/ Sat, 11 Nov 2017 17:56:19 +0000 https://hopkinsretirement.com/?p=2887 Bitcoin and Digital Currency Fever Professor Jamie Hopkins was recently quoted in two articles by ThinkAdvisor where he discussed the rise of…

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Bitcoin and Digital Currency Fever

Professor Jamie Hopkins was recently quoted in two articles by ThinkAdvisor where he discussed the rise of Bitcoin and other cryptocurrencies. While Bitcoin is the most popular cryptocurrency, there are about 1,000 in existence today. Other popular cryptos include LiteCoin, Zcash, and Ethereum. Each currency has its own pluses and minuses from a user or investment standpoint. Professor Hopkins, while a big proponent of digital currencies believes that certain investment focused approaches to  them could be misguided. Cryptocurrencies should not be viewed as a true investment, but instead a hedge or diversification of currency. It can also be used as a speculative investment, but there are no earnings or growth models to show the future of a digital currency.

Professor Hopkins believes the rise in digital currencies is just beginning. This is really a technological advancement of currencies past out-dated and traditional forms of currency. A move away from a government controlled currency could also function as an alternative to the USD. The USD serves as the world leader for money. Most banks rely on the U.S. dollar and more U.S. dollars sit outside the United States than within. However, dollars are inefficient. They break down and fall apart. Coins are expensive and bad for the environment. Digital currencies can function to offset some government related currency risks and reduce costs of currencies over time.

The rise of digital currencies is the wave of the future. It also shows that there is a large group of people that do not believe in the the traditional systems of monetary control. These people want another option.

To learn more and read the two articles, click the links below to see the ThinkAdvisor articles featuring Professor Jamie Hopkins.

Read Article 1 Read Article 2

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Professor Jamie Hopkins Talks Retirement With NBC10 https://hopkinsretirement.com/professor-jamie-hopkins-talks-retirement-nbc10/ Thu, 05 Oct 2017 21:05:11 +0000 https://hopkinsretirement.com/?p=2875 Professor Jamie Hopkins Talks Retirement With NBC10 Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with retirement…

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Professor Jamie Hopkins Talks Retirement With NBC10

Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with retirement planning, but what is driving it? Professor Some of his recent research shows the poor literacy rates might be behind some of the issues. Americans struggle to understand some basic investment and retirement concepts.

Additionally, according to a new research report, Americans moving into retirement don’t have a good understanding of how to effectively use home equity as an income source in retirement. Furthermore, the report surveyed over 1,000 people to determine their feelings on housing in retirement and test their knowledge with a 10-question true or false literacy quiz on reverse mortgages.

Check Out The Video

Recently, NBC10 @Issue aired the video.

To learn more and to watch the video, click the link below to see the NBC10 video featuring Professor Jamie Hopkins.

Watch Video

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Millennial Managers A Guide For Successful Management https://hopkinsretirement.com/millennial-managers-success/ Sun, 09 Jul 2017 19:50:47 +0000 https://hopkinsretirement.com/?p=2669 Millennial Managers Need Help In Workplace Millennial managers are taking over the workplace. By 2050 they will control the American office. However,…

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Millennial Managers Need Help In Workplace

Millennial managers are taking over the workplace. By 2050 they will control the American office. However, many are ill-equipped to lead today. A recent Harvard Business Review report found that older workers distrust millennial managers and do not view them as role models. This is a real issue. As more and more millennials take the reigns of management, organizational effectiveness will hinge on their leadership and management skills. Both companies and millennials need to take on responsibility for improvement. This means that millennials will have to buck some of their common stereotypes by working late and leading by example.

However, millennials won’t be able to do it alone. Success will also require older generations to buy into a new management style and follow their manager’s lead. This does not mean the older generations can’t push back in certain ways, but they need to understand that change is happening. Millennials often have different challenges than previous generations but a lot also stays the same.

Check out this quote from the article “Ultimately, millennial managers will need to lead by example. Because many older employees are hesitant to accept them as role models, they will need to demonstrate their work ethic, leadership, and trustworthiness over time. This might mean Millennials need to be the first ones in the office in the morning and the last ones out the door at night. It also means they must understand the needs of employees of any generation so that they can help them achieve their own goals and the overall goals of the organization.”

Check Out The Article

To learn more, read this recent Forbes article by Jamie Hopkins and Bryan Yackulic. Bryan is the Assistant Director of the Chartered Leadership Fellow® Program at The American College. He is also an Adjunct Professor of Management at The American College of Financial Services.

Read Article

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New Department of Labor Fiduciary Rule Roles Out https://hopkinsretirement.com/new-department-labor-fiduciary-rule-roles/ Tue, 20 Jun 2017 18:18:00 +0000 https://hopkinsretirement.com/?p=2659 New Department of Labor Fiduciary Rule Roles Out June 9th, the new department of labor fiduciary rule roles out without much fanfare.…

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New Department of Labor Fiduciary Rule Roles Out

June 9th, the new department of labor fiduciary rule roles out without much fanfare. The new rule requires financial advisors to act as fiduciaries. This means that advisors need to act in the best interest of their clients, avoid conflicts of interest, like some forms of commissions, and meet a high standard of care. But, the rule is not so cut and dry. Instead, many advisors dislike the new standard as written.  To learn more, checkout this recent Forbes article written by Jamie Hopkins on the topic.

Read Article

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Tips For Financial Advisors Managing Health Care Expenses In Retirement https://hopkinsretirement.com/managing-health-care-expenses-retirement/ Tue, 28 Mar 2017 19:28:05 +0000 https://hopkinsretirement.com/?p=2635 Financial Advisors Can Help Manage Health Care Expenses In Retirement: Financial advisors should incorporate health care planning into their retirement practices to…

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Financial Advisors Can Help Manage Health Care Expenses In Retirement:

Financial advisors should incorporate health care planning into their retirement practices to help clients. However, few financial advisors are doing comprehensive health care planning for their clients today. For instance, an advisor could help determine a reasonable estimate of health care expenses or could help to control MAGI to limit Medicare premiums. Additionally, an advisor could help avoid coverage gaps and avoid Medicare part B and D late enrollment penalties. Even for advisors that do not offer a wide range of health care options, these are a number of ways to help a client. To learn more, checkout this recent InvestmentNews article written by Jamie Hopkins on the topic.

Read Article

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