One of the core inputs required in the financial planning process is the assumption of what the future return of a given portfolio will be. Obviously higher returns are preferable because they translate into greater spending power and/or reaching your goals sooner. Yet higher returns come with a caveat; higher risk. There is a very strong correlation between risk and return.
Did you know that the Bible has GPS built into it?
I call it God's planning system. You might be asking what exactly is God's planning system? Jeremiah 29:11 says:
As a Christian based financial planner a question I often get is what does the Bible say about handling money and finances. Here are five key biblically based principles that if followed will lead to a much more rewarding life:
Forecasting company, FiveThirtyEight – founded by Nate Silver, has an excellent track record when predicting future outcomes, particularly within the political arena. Nate Silver is the modern day EF Hutton. When he predicts, people listen. Or more accurately, when he predicts it is almost a foregone conclusion. Until it’s not.
Actively managing your debt is an important step, and your student debt may be one of the biggest financial obligations you have. There are many strategies that could help you manage student loans efficiently. Here is a checklist.
ITEM #1: Choose a federal loan repayment plan that fits your circumstances:
It is human nature to focus more on the present than the future, which is in line with our basic instinct of survival. After all, if we don't take care of the now, there may not be a future.