4 OF THE BIGGEST FINANCIAL PROBLEMS FOR MILLENNIALS


4 OF THE BIGGEST FINANCIAL PROBLEMS FOR MILLENNIALS – AND HOW THEY ARE COPING WITH THEM

If you are a Millennial, odds are you are struggling on one or more financial fronts. Millennials, defined as those born between 1981 and 1996, face a number of financial obstacles that are unique to their generation. What other generations sometimes fail to realize is that these difficulties are not caused by poor judgement or slack work habits on the part of the Millennials, but are instead the direct result of entering the workforce during or after the Great Recession.Here’s a look at four of thebiggest financial problems for Millennials, and the ways they are coping with these challenges:

Image Credit:Smart Asset

High housing prices

The price of home ownership has risen sharply for Millennials compared with past generations. The cost of buying a home has increased 73% from 1960 to 2000 (when adjusted for inflation). A report bySmart Assetfound that home prices are so much higher than average income in some cities that it can take almost a decade to save for a down payment.

How Millennials are coping:Home ownership among Millennials is at an all-time low, according toNBC News. Millennials are delaying purchasing a home, along with other life changes such as marriage and parenthood, in large part due to their financial burdens.

Image Credit:Pew Research Center

Soaring rent costs

Millennials entering the workforce face the highest rents of any generation.Zillowreports that the current average rent in the United States is $1,600, while Gen Xers paid just $850 at the same life stage, according toStudent Loan Hero.

How Millennials are coping:As a result of soaring rent costs and otherMillennial financial challenges, more young adults live at home than at any time since the 1940s, aPew Research Center Analysisfound.In 2014, 18- to 34 year olds were more likely to be living in their parents’ home than with a spouse or partner in their own household.

Image Credit:Business Insider

Crushing cost of a college education

The cost of attending a 4-year private college has more than doubled over the past 30 years, according to the College Board. Costs at public institutions have increased even more, more than tripling from 1988 to 2018.

How Millennials are coping:The high cost of college has left many Millennials with a steep burden of student loans.Business Insiderreports that Millennials who took student loans graduate with more than $17,000 in student loan debt on average. Graduates in the Northeast tend to carry even more debt, averaging as much as $27,000 in student loans.

Image Credit:GoBankingRates

Looming Social Security deficits

Social Security benefits for Millennials are expected to be just 75% of what retirees are paid now. If funding decreases occur as predicted, the average monthly payment in 31 years would be just $1,908. This would leave Millennial retirees so close to the poverty level they may be unable to pay the basic costs of living unless they have their own savings.

How Millennials are coping:Six out of 10 working Millennials have already begun saving for retirement, according to a report byWells Fargo. Millennials will need to save significantly more than workers in past generations, however.Timereports that with inflation rates of 2% per year, $1 million in retirement savings will be worth just $453,000 in today’s dollars and buy less than $2,500 of monthly income for life.

There is some good news when it comes toMillennials and personal finance. Because of compound interest, a Millennial who starts saving 15% of annual income at age 25 will have enough to retire by age 67.If you are a Millennial who would like some help dealing with the financial challenges you face, reach out to financial advisor Matt Logan atwww.MattLoganInc.comor call at (336) 540-9700. We can help you devise a livable financial plan that will allow you to meet your financial goals, including paying off debt and saving for a down payment, while still saving for retirement.

Matt Logan is a Representative with Matt Logan Inc and Summit Brokerage and may be reached athttp://www.mattloganinc.com/, 336-540-9700 ormatt@mattloganinc.com.

Matt Logan Inc. is an independent firm with Securities offered through Summit Brokerage Services, Inc., MemberFINRA,SIPC. Advisory services offered through Summit Financial Group Inc., a Registered Investment Advisor. Summit Brokerage Services, Inc., its affiliates and Matt Logan Inc. do not give tax or legal advice. You should consult an experienced professional regarding the tax consequences of a specific transaction. These are the views of Matt Logan Inc, and not necessarily those of Summit Brokerage Services, Inc. and any of its affiliates and should not be construed as investment advice

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Lorem Ipsum Nedir?

Lorem Ipsum, dizgi ve baskı endüstrisinde kullanılan mıgır metinlerdir. Lorem Ipsum, adı bilinmeyen bir matbaacının bir hurufat numune kitabı oluşŸturmak üzere bir yazı galerisini alarak karışŸtırdığı 1500’lerden beri endüstri standardı sahte metinler olarak kullanılmışŸtır. BeşŸyüz yıl boyunca varlığını sürdürmekle kalmamışŸ, aynı zamanda pek değişŸmeden elektronik dizgiye de sıçramışŸtır. 1960’larda Lorem Ipsum pasajları da içeren Letraset yapraklarının yayınlanması ile ve yakın zamanda Aldus PageMaker gibi Lorem Ipsum sürümleri içeren masaüstü yayıncılık yazılımları ile popüler olmuşŸtur.

Neden Kullanırız?

Yinelenen bir sayfa içeriğinin okuyucunun dikkatini dağıttığı bilinen bir gerçektir. Lorem Ipsum kullanmanın amacı, sürekli ‘buraya metin gelecek, buraya metin gelecek’ yazmaya kıyasla daha dengeli bir harf dağılımı sağlayarak okunurluğu artırmasıdır. şžu anda birçok masaüstü yayıncılık paketi ve web sayfa düzenleyicisi, varsayılan mıgır metinler olarak Lorem Ipsum kullanmaktadır. Ayrıca arama motorlarında ‘lorem ipsum’ anahtar sözcükleri ile arama yapıldığında henüz tasarım aşŸamasında olan çok sayıda site listelenir. Yıllar içinde, bazen kazara, bazen bilinçli olarak (örneğin mizah katılarak), çeşŸitli sürümleri gelişŸtirilmişŸtir.

Nereden Gelir?

Yaygın inancın tersine, Lorem Ipsum rastgele sözcüklerden oluşŸmaz. Kökleri M.Ö. 45 tarihinden bu yana klasik Latin edebiyatına kadar uzanan 2000 yıllık bir geçmişŸi vardır. Virginia’daki Hampden-Sydney College’dan Latince profesörü Richard McClintock, bir Lorem Ipsum pasajında geçen ve anlaşŸılması en güç sözcüklerden biri olan ‘consectetur’ sözcüğünün klasik edebiyattaki örneklerini incelediğinde kesin bir kaynağa ulaşŸmışŸtır. Lorm Ipsum, Çiçero tarafından M.Ö. 45 tarihinde kaleme alınan “de Finibus Bonorum et Malorum” (İyi ve Kötünün Uç Sınırları) eserinin 1.10.32 ve 1.10.33 sayılı bölümlerinden gelmektedir. Bu kitap, ahlak kuramı üzerine bir tezdir ve Rönesans döneminde çok popüler olmuşŸtur. Lorem Ipsum pasajının ilk satırı olan “Lorem ipsum dolor sit amet” 1.10.32 sayılı bölümdeki bir satırdan gelmektedir.

1500’lerden beri kullanılmakta olan standard Lorem Ipsum metinleri ilgilenenler için yeniden üretilmişŸtir. Çiçero tarafından yazılan 1.10.32 ve 1.10.33 bölümleri de 1914 H. Rackham çevirisinden alınan İngilizce sürümleri eşŸliğinde özgün biçiminden yeniden üretilmişŸtir. http://onyour4.com

Wanna Know How To Pick The Best Pickleball Paddle Bag?

Before We Pick The Best Pickleball Paddle Bag, Lets Explore The Types Of Bags

Sling Bags:

Sling bags are the lightest, trendiest one-shoulder bags for carrying your pickleball paddle and ball. This type of bag is a great option for the active pickleball player who is always on the go. Heading to the gym after school? You don’t have to lug around a big backpack.Click Here

Just pull out a sling bag from your locker, your shoes, and your clothing, and you’re good to go. Sling bags come in a variety of colors, and sizes. They can carry between two and eight paddles, depending on the design. They are compact and fuss-free. A sling bag is great both for the occasional player and the pickleball veteran who is running out for a quick game with friends on a nearby court.

Backpack:

For long hours of pickleball on a hot summer’s day, there are several things you will want to carry with you. Lots of water is a must. A towel and gym clothes are essentials. You’ll want to carry several balls, in case some get lost or crack. You may want to take extra clothes, several paddles, your wallet, sunglasses and anything else you need for your day of pickleball.

A backpack with many pockets is what you will need. The double shoulder straps will make the bag easier to carry than a sling bag. You won’t feel the aches and pains in your shoulders before you begin your game. Professional quality backpacks are also available for pickleball, with insulated coolers on the sides behind mesh water bottle holders.Buy Here

Cinch Bag:

A cinch bag is a simple bag with a single pocket and a system of strings that tighten the mouth of the bag and acts as straps for hanging on your shoulder. These bags can usually fit a paddle or two and a few balls. The straps are thin and not designed to be carried on your shoulders for extended periods of time. Nor can these bags carry a lot of stuff without threatening to tear. They are like rudimentary sling bags, and good for a quick game of pickleball when you don’t have to carry anything more than your paddle and balls.

Duffel Bag:

Hold-all duffel bags are great for sports in general. In pickleball, in particular, duffel bags make excellent carry-alls for almost everything you need to carry with you. They are great for carrying gear for groups of players as well. You can prepare one duffel bag for the family with everyone’s paddles, balls and shoes in them, to be pulled out every weekend when the pickleball players meet.

Tote Bags:

There are pickleball tote bags that are light, with zippers and compartments for storing little objects, and depending on the size they can have space for a few paddles and balls.Buy Here

Keeping You In-Store and Outdoor Signage Attractive

Outdoor and in-store signage is important factors in getting customers inside your retail store. But have you stopped to look at your signage lately? Just like your merchandise, your signage should change regularly to keep customers coming back. Here are some tips to ensure that your different signage is in top shape and doing its best to communicate with customers and potential clients.

Maintenance is Key

Your permanent outdoor sign won’t change very often, but it’s important to make sure it looks fresh and up-to-date at all times. Burned out bulbs, flickering neon or peeling paint convey a bad impression. Make sure your sign is in tune and secured with the feel and the look of the area where your store is located.

Window signage, on the other hand, should change frequently, with new merchandise or seasons.

Useful In-store Signs

Inside the store, signage can serve the purpose of directing or explaining, like signs that tell customers where the dressing rooms are for instance, or signs announcing sales or hyping products can persuade them to look and buy. Purposeful signs need to be clear and easily understood. Persuasive signs can be more fun. Both types should be consistent with your brand in terms of fonts, colors, and design.

Blend it Up

Point of purchase signs, A-frame signs, standing signs, display signs and wall signs are all formats you can use throughout your store. You can even get creative with decals on the floor highlighting key sections of the shop. Something as simple as a doormat with a creative message or your business logo secured on it will attract attention while also serving a purpose.

Be Positive

Don’t use signs in your store bearing negative messages such as “Absolutely NO checks accepted” or “Cash only” and “All sales FINAL”. This will suggest that you have had some awful experiences with customers. Phrase your sign content positively, like “We cannot accept out-of-state checks. Thank you for understanding.”

Recognitions and Awards

They aren’t exactly signs, but framed articles about your business or awards you have won are another way to communicate with customers. They show that your store has a history, is part of the community and is respectable and trustworthy.

Grab Attention

Signs that make people stop and think, such as puns, plays on words or humor, are a great way to get shoppers to slow down. When someone pauses to read a sign and chuckle or share it with a friend, you’ve got a better chance of making the sale.

Strike a Balance

It’s important to find the right balance between too little and too much signage both inside and outside your store. Too much, and your store looks cluttered and overwhelming, customers won’t know where to look. Too little, and the store looks unwelcoming, as customers struggle with things like where to find items.

Portable signage, such as A-frame or chalkboard signs, is a great way to attract passersby to your store. Get creative with your sign. An eclectic clothing boutique can use a chalkboard with pastel, hand-drawn lettering. A children’s bookstore or toy shop can use a magnetic board spelling out words in colorful alphabet magnets, or a felt board with stick-on felt lettering.