The Dip can happen to anyone.
It starts with massive success. You pick up a hobby, new skill, or start a business, and you’re crushing it. Everything you touch just seems to work. But it’s short lived. Beginner’s luck dries up. It gets hard to nail even the basics. You feel like you’ve somehow gotten worse the harder you try. Effort […]
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Peer To Peer Lending Explained
Sick and tired of borrowing money from financial institutions? Well, no longer! You can now borrow money directly from your peers. That’s right—with the magic of the internet, you can be in debt to faceless strangers instead of faceless institutions. One moment while I get my tongue out of my cheek… Here’s how it works… […]
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How Rockefeller Made His Billions
I’ll bet you don’t think you have much in common with John D. Rockefeller. After all, he was America’s first self-made billionaire.¹ At the time of his death in 1937, he was worth over $340 billion in today’s money. How rich is that? If you combined the wealth of Warren Buffett, Bill Gates, and Jeff […]
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Financial Literacy Group launches Hybrid Mortgage Arbitrage.
How do banks, credit unions, and other organizations in the finance industry use tax-advantaged products to offset costs? Bank Owned Life Insurance (BOLI) is a great way for banks to save money on their employee benefit costs. Banks are responsible to pay their employees an adequate employee benefit package. All while being fiscally responsible and […]
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How to close the racial wealth divide
Rodney Brooks has spent most of his life as a financial journalist but offering informal advice to his African-American friends and colleagues has been a big part of who he is as a person. And his support has been a game-changer for those lucky to cross paths with him. That’s particularly true of those he […]
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The Employee Retention Credit: Businesses may be missing out on dollars
As businesses continue to recover from losses during the pandemic, some may be missing out on money they are entitled to get back from the government through a credit against the employment taxes they pay. The Employee Retention Credit (ERC) is an $80 billion tax program. “It was really designed to give employers money back to […]
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Here’s the average net worth of Americans ages 55 to 64
Net worth tends to increase with age as you earn a higher salary, own more assets and reduce debt. Here’s the average net worth of people in their 50s and 60s. The median household net worth in the U.S. is $121,700, but it’s almost double that for those in their late 50s and early 60s. According to […]
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Financial Literacy Group LLC, Launches Affordable Digital Hybrid Financial Wellness Solution called Betterment Inc.
Betterment Inc., is a customizable technology driven, digitally integrated financial wellness solution that is a catalyst for improvement in workplace culture. This hybrid financial wellness solution educates, informs, engages, and equips each employee with the knowledge and tools they need to take control of their financial future. Betterment Inc., is a progressive financial wellness solution that makes […]
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Experts Anticipate Upcoming Financial Education
President-elect Joe Biden’s win renews hope for financial wellness strategies in the future, and such changes could come with possible requirements for employers, employees and advisers. With a new president coming into office in January, it’s time to focus on financial wellness education, industry experts say. President-elect Joe Biden has outlined plans for taxes, retirement planning and […]
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The Wealth Gap
How big is the gap? The wealth Gap – It’s staggering. The net worth of a typical white family in 2016 — including home, retirement accounts, and all assets — was nearly 10 times greater than that of a Black family, at $171,000 to $17,600. This gulf even includes African Americans whose households are headed […]
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