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

Continue reading »

Why Social Media Is Vital to Any SEO Strategy

When it comes to improving your brand & product awareness, social media marketing is one of the most reliable & up-to-date ways to do so. As a specialist in SEO, Triple Agent Digital Media knows this, and they also know it’s one of the crucial components of SEO, like it or not!

The actual work in social media marketing and SEO comes with your social media scheme. As your social media presence depends chiefly on high-quality content that engages your customers, and a healthy brand presence, all your SEO efforts could immensely boost your social media gain. Defending yourself with a powerful social media “fortress” is especially important in a day and age where virtually every American adult has an account on at least 1 social media platform.

One essential aspect of your SEO social media campaign is building your presence on as broad a variety of social sites as possible. Sure, Facebook is highly authoritative, but it’s not the only place to be on! You have to defend your reputation and make yourself reachable wherever customers are inclined to search for a business in your market. We at Triple Agent SEO specialize in getting your social media set up the right way. We’ll start with the top social accounts – Facebook, Twitter, Google+, etc. – and then add all the others into the mix.

Google has been particularly enigmatic about how, or even if, its rankings are influenced by social media. We feel we’ve unravelled their secret: setting up a broad variety of social accounts for a website or company does have an influence on rankings, since that’s what real businesses do.

Building a solid social media foundation is essential, since it’ll establish you as a legitimate brand in Google’s eyes, giving you more prominence in searches for your brand, and making it more challenging for others to try to rank for your name – especially when it’s unique.

With that, the end goal of social media services is to promote your brand across different social systems.

Social Media And SEO Digital Marketing

If you truly desire to scale as an entrepreneur, having a successful and cost-efficient marketing strategy is key. A proper marketing campaign especially has the feature of allowing you to track your performance and increased productivity & revenue as a result of the digital marketing.

Set up & implemented properly, an SEO or online marketing strategy does take time to fully kick in. It’s not a get-rich-quick scheme. A lot of attention to detail is involved in getting SEO right; without a trustworthy, careful SEO marketer at your side, you could be losing out on valuable queries, impressions, and clicks, and that’s where Triple Agent Digital Media SEO comes in to help.

Social Media, Blogging And SEO Management

The more focused you are on optimizing for mobile devices from the get-go, the better.

Not to mention that nothing speaks louder than having a fully working online blog to show off your talents, powers, and the values you bring to the marketplace. Content marketing is a very powerful audience-grabbing tool. And boy, do we love it! You can trust that we’ll help you implement it on your blog as optimally as it has to be on your social media.

Continue reading »

The Different Types of Sign Boards for Every Business

Every day we see hundreds of different sign boards, making us wonder how many types of sign boards are there. There are too many to count!

Signboards are great marketing tools because it attracts attention from potential customers, it’s cost-efficient compared to other advertising tool, and it can be customized to fit your specific needs. Here are the most common and popular signboards that you can use in advertising your business.

Conventional Sign Boards

A simple 2-D sheet and some paint are what makes a conventional signboard. This is the signboard that all the future sign board ideas evolved from and is still widely used for business advertising. You can utilize the conventional type of signboard to capture the attention of a large audience and it can easily be mounted anywhere, even in spaces with limited areas.

LED Sign Boards

LED signboards use LED lights to communicate the message. This type of signboard is quite eye-catching and works especially well at night. LED signboards can be used to display high-resolution pictures as well as text to create a visually striking signboard. If you want to employ a signboard that works for your business, then an LED signboard is definitely one of the signboard ideas you should consider.

3-D Sign Boards

This is one of the most captivating types of sign boards around. The 3-dimensional effect provides a pop to the signboard and looks truly stunning. Huge mockups of products that your business deals in, is a great way to get the attention of your potential customers and to market your products effectively.

Neon Sign Boards

This type of signboards utilizes neon lights which provide a retro feel to the signboard. It also consumes a lot of power and is not very energy-efficient. Unless the retro look factor is very important for your business advertising, you should refrain from this type of signboards and opt for LED sign boards instead.

Boxed Sign Boards

These types of sign boards are a combination of the conventional signboard and the lighting effect of LED sign boards. They contain lights below a layer of the signboard which illuminates the signboard. They offer excellent visibility, both during the day as well as at night.

Stickers

These types of sign boards are mere signs with one side sticky so that they can be stuck to different surfaces such as the sides of a huge vehicle, on walls, escalators and so on. They are highly effective mediums of business advertising as they utilize the unconventional spaces which are left untapped by other kinds of signboards.


Continue reading »

-