Host: Arif Halaby
Hour #1 – Retiring
Hour #2 – Getting Out Of College Debt
Total Financial Solutions Safer Money Hour With Arif Halaby – 8/12/14
Hour 1 – Arif started out his most recent edition of the Total Financial Solutions Safer Money Hour talking to us about some tips and tricks about retiring early and being comfortable. There’s no shortage of advice on saving for retirement, and an important piece of the puzzle is having a strategy to generate sufficient income when you stop working, as Andrea Coombes recently highlighted. One interesting statistic she cited was a survey showing that 63% of people ages 35 to 75 are concerned that Social Security or pensions won’t cover retirement expenses.
Hour 2 – Arif opens his final one hour segment of the day talking about getting out of your college debt. “People are borrowing twice as much as they were a decade ago because grants and scholarships are not keeping up with the escalating costs of college,” says Mark Kantrowitz, Arif also discusses all the free online financial-aid resources. To wit: Graduates of the class of 2011 have an average of $27,200 in debt, up from about $17,600 in 2001. If you’re on a tight budget, it may be difficult to steer any additional cash toward education debt. Arif talks to us about paying it off as early as possible; otherwise it might stick around for a decade or more, which could prevent you from saving enough for retirement. Here are five steps to paying off any lingering loans of your own—and to helping your children settle theirs down the road.
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