Monday bits: This should be required reading for every senior in High School

Millennials, like everyone, need to start saving early for retirement
Retirement planning experts say that this assumption isn’t entirely accurate — though it is perennially true that most young adults don’t make retirement savings a financial priority. But, as the experts point out, millennials are in an ideal position to get started, because whatever they set aside will grow and accrue interest greatly over time.

“I took a class in high school, and they showed me the building of compounding interest…”

– Ginger Hamilton, 28-your old Accountant at Coca-cola

I go into great detail on compounding in my latest book, Building Wealth. As mentioned in a reviewer mentioned:

“This should be required reading for every senior in High School! Many think it is hard to save up a million dollars, but David points out that it just takes time and is not really hard at all.”

– David Gilmer,  Registered Financial Consultant

Five signs you need a professional tax preparer
The year has only just begun, but it’s not too early to begin thinking about your income taxes. While today’s tax software can make it simple to fill out federal and state forms, some finance professionals say people can get themselves into trouble when filing on their own.

Paying Off Your Mortgage Early: Some Things to Consider
Let’s talk about a somewhat controversial subject, at least in financial planning circles: paying off your mortgage early. A great deal of conventional wisdom says you should never pay a mortgage off early. Well, I’ve gone against that conventional wisdom. Twice. I don’t know if that means I lack conventionality or I lack wisdom, but it seems to have worked out well.

Use a ‘Fake’ Location to Get Cheaper Plane Tickets
Most people don’t know there is a simple trick to get a cheaper flight on an airline’s website. I can’t explain airline pricing but I do know some plane tickets can be cheaper depending on where you buy them or, even better, where you appear to buy them from. This is all about leveraging foreign currencies and points-of-sale to your advantage.

Money laundering: The case for a cashless society
Studies have piled up in recent years describing exactly how filthy—specifically how bacteria-laden—our dollars and cents can be. Fecal bacteria and other pathogens may have hitched a ride from someone’s hands, nose or apron onto our cash. And yeast or mold might have taken hold, too. The result could be a durable risk to our health whenever our money changes hands.

Is the Oakland Raiders owner frugal?
While it might seem that Oakland Raiders owner, Mark Davis, is frugal — he still drives a 1997 Dodge Caravan mini van and uses a 2003 Nokia push button phone (it does have full texting capabilities!) — that might not be the case. Perhaps eccentric is a better description for Mr. Davis as he does a few things which many among us might look at cross-eyed. For instance, Davis travels from Oakland to Palm Springs to get his haircut. Have you seen his haircut? It’s would be better described as a bowl cut than anything else. Is he frugal? Maybe it’s loyalty. Maybe it’s a little of both.

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