Marista's Cuba Blog 4 OF THE BIGGEST FINANCIAL PROBLEMS FOR MILLENNIALS

4 OF THE BIGGEST FINANCIAL PROBLEMS FOR MILLENNIALS


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

Matt Logan|2018If 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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Building Inspections in Adelaide: Unveiling The ImportanceBuilding Inspections in Adelaide: Unveiling The Importance

In the bustling city of Adelaide, where historical architecture blends seamlessly with modern infrastructure, the significance of building inspections cannot be overstated.

Whether you’re purchasing a new property or aiming to maintain the integrity of your current investment, building inspections play a pivotal role in ensuring safety, security, and peace of mind for property owners and prospective buyers alike. Let’s delve into why building inspections are crucial in Adelaide and how they can safeguard your interests. For more building inspection-certified teams, check this out.

Understanding Building Inspections

Building inspections in Adelaide involve a comprehensive assessment of a property’s structural integrity, safety features, and overall condition. They are typically conducted by qualified professionals who meticulously examine various aspects of a building, from its foundation to its roof. The primary objective is to identify any existing defects, potential hazards, or areas requiring maintenance or repair.

Protecting Your Investment

For both home buyers and property owners, investing in a building inspection in Adelaide is a proactive measure that can potentially save thousands of dollars in the long run. By uncovering hidden issues early on, such as structural weaknesses, plumbing leaks, or electrical hazards, you can address them before they escalate into costly problems.

Moreover, having a detailed inspection report can empower you during negotiations, allowing you to make informed decisions based on the property’s actual condition.

Compliance with Regulations

Adelaide, like any other city, has regulations and building codes in place to ensure the safety and welfare of its residents. Building inspections in Adelaide help verify whether a property complies with these regulations, particularly concerning structural stability, fire safety, and accessibility standards. Ensuring compliance not only promotes the well-being of occupants but also mitigates the risk of legal repercussions or fines associated with non-compliance. For more building inspection-certified teams, check this out.

Peace of Mind for Buyers

For individuals in the process of purchasing a property, especially first-time buyers, the prospect can be daunting. However, a thorough building inspection provides invaluable peace of mind. It offers assurance that the property is structurally sound and devoid of any significant defects that could pose a risk or financial burden in the future. This sense of security is invaluable, especially when making such a significant investment.

Preventing Future Expenses

One of the most compelling reasons to invest in a building inspection is the potential to prevent future expenses. By identifying issues early on, you have the opportunity to address them promptly, thus avoiding costly repairs down the line. Whether it’s repairing a leaking roof, reinforcing weakened foundations, or replacing faulty electrical wiring, proactive maintenance can save you a substantial amount of money in the long term.

Enhancing Property Value

In Adelaide’s competitive real estate market, presenting a property in optimal condition can significantly enhance its marketability and value. A comprehensive building inspection report not only highlights the property’s strengths but also allows you to address any weaknesses or deficiencies before listing it for sale. This proactive approach can attract more discerning buyers and potentially result in a higher selling price.

Elevating Property Confidence with Building Inspections in Adelaide

Building inspections in Adelaide offer property buyers and owners peace of mind by identifying potential issues early on. From structural integrity to regulatory compliance, these inspections empower individuals to make informed decisions and protect their investments effectively, ensuring a secure and prosperous future.

Conclusion:

Building inspections are an indispensable aspect of property ownership and investment in Adelaide. Whether you’re purchasing a new property or maintaining an existing one, investing in a thorough inspection can provide invaluable peace of mind, protect your investment, and ensure compliance with regulations.

By addressing issues proactively, you not only mitigate potential risks but also enhance the long-term value and marketability of your property. So, when it comes to safeguarding your interests and ensuring the safety and integrity of your property, a building inspection is undoubtedly a wise investment.

What Is English Enrichment?What Is English Enrichment?

Do you want your child to improve their English language skills?

English enrichment programmes are designed to help students improve their reading, writing, and speaking skills. Class formats are more versatile compared to traditional classes. 

Instructors use different approaches to ensure that students make the most of the programme. While the end result is also focused on the child becoming better in English, the experience is much more relaxed. 

An enrichment programme centre in Singapore, for instance, may use the self-learning approach instead of the spoon-fed style. Students become the masters of their learning experience. 

Instead of merely listening to the instructors as they explain concepts, students get to work on their assignments on their own. They get to study at their own pace and try to complete challenging worksheets. They develop self-learning skills and a sense of responsibility.

But, of course, the specific steps in a programme vary depending on the subject and the students. 

Bringing out a child’s potential

Usually, when you enroll your child in an English Enrichment programme, the centre doesn’t focus on age alone. Worksheets and activities are instead based on a child’s skills. Students may be of the same age but that doesn’t mean they receive the exact set of homework. 

This is beneficial as it ensures that children receive the support they need. They’re not rushed in the sense that they don’t have to ‘keep up with the rest of the class. They progress within their abilities, which later on improves, as they proceed with the programme. 

Before starting the English Enrichment class or programme in Singapore, instructors may ask to meet you and your child. They assess your child and also provide orientation for parents or guardians. 

The goal is to make the entire experience as simple as possible. Fun is an important part of each programme and students are guided so they’ll grow a love for learning English. 

Common features of English Enrichment programmes

Here are a few of the common features of English Enrichment programmes:

  • Word association. Young children are taught basic words and their meanings. Repetition is used to help students become familiar with these new words, phrases, or sentences. Instructors ask students to recite words, which they also show in written form. The use of images or actual objects helps make the session more interesting for the naturally curious students. 
  • Reading and writing. Again, the worksheets vary depending on the student’s skill level. To start, instructors may ask students to trace and copy letters. They may also read aloud words and sentences to show students the proper pronunciation.
  • Silent reading. For older students who already know how to read, instructors may include silent reading activities in their programme. They may also be asked to compose short sentences on their own. The sentences or reading materials may become more complex as the students move further into the programme.
  • Summarisation. As students become better readers, they may also be asked to summarise passages or stories. They may also analyse and comment on reading materials.

At the end of the English Enrichment programme, students become more confident and independent as learners. You might not have to be beside them anymore while they answer their worksheets. 

Overall, you’ll see that English Enrichment centres in Singapore use different strategies, so choose what you feel works best for you and your child. 

What are the Benefits of Enrolling in IB Courses?What are the Benefits of Enrolling in IB Courses?

The IB curriculum is an international curriculum developed by the International Baccalaureate Organization (IBO). It is designed and intended for students from 3-19 years old and is used in more than 140 countries worldwide. 

What’s more interesting is that this rigorous curriculum focuses on holistically developing a child, not just their academic or technical skills. Of course, this means that students will learn about global citizenship and community service as they learn their academics. But, aside from that, do you ever wonder about other benefits you could get from taking IB courses?

The Benefits of Each IB Course

The best thing about the IB curriculum is that there are different courses you can take depending on your interest and age while matching your qualifications. And to be more specific, we want you to see the list of courses together with their aims and missions that could benefit you in the end.

  1. IB Primary Years Program

The International Baccalaureate Primary Years Program, or IBPYP, is an educational program that helps prepare students to succeed in their later years of schooling. It’s designed for students ages 3-12, focusing on three core concepts: language arts, social studies, mathematics, science and technology, and the arts.

With this course, you can enjoy the following benefits.

  • Offers you a great and strong knowledge and skills foundation at the very beginning. 
  • Prepares you and your future by teaching you the foundations you need.
  • Easy to understand subjects and preparations intended for young learners.
  1. IB Middle Years Program

The IB Middle Years Programme, known as IBMYP is an academically rigorous, internationally recognized course of study for students aged 11 to 16. The curriculum focuses on intellectual, social, emotional, and physical development and includes interdisciplinary activities that encourage a holistic approach to learning.

With this Middle Years Program, you can be a well-rounded, globally-minded student. This course will also encourage your critical thinking, creativity, and communication skills from an international perspective. You’ll encounter subjects ranging from language to science, mathematics, arts, and personal project.

  1. IB Diploma Program

The International Baccalaureate Diploma Program, also known as IBDP, is a two-year pre-university curriculum that prepares students to succeed at and outside the university in their coming years.

There are many benefits to being part of the IB Diploma Program, including:

  • A challenging academic curriculum that prepares you for university and your future career.
  • A focus on improving well-being through personal development, community service, and action research projects.
  • A wide range of elective courses across various disciplines allows you to discover your forte and passion.

All these IB courses could be overwhelming at first, especially if this is your first time. But the good news here is that there are ib online tutors who can help you find the right course and let you enjoy the maximum benefits of your chosen course.

Leverage your IB learning through a private tutor!

Each IB course has its benefits. But if there’s a common denominator about these benefits, it’s the fact that the IB curriculum, together with its courses and subjects, can train and improve you holistically. Moreover, if you want to take IB as an opportunity to improve yourself, then getting a private tutor can leverage this by giving you the help you need throughout your journey. Private IB tutors are trained and have proven expertise in guiding and assisting you before, during, and after your learning process.