US Educational Financial Solutions Reviews on Money Wisdom at Age 100

As of 2010, there are 1.73 centenarians for every 10,000 Americans. It may have slowed a bit compared with a decade ago, but their numbers have swelled by 5.5 percent in the past ten years. One of them, Jeralean Talley of Inkster, MI, is currently the oldest person in the U.S. at 113 years old.

Sadly, expenses increase with age (case in point: healthcare), so centenarians aren’t often in a good position. That didn’t dissuade financial expert Steve Franklin who was interviewed for his book, Celebrate 100: Centenarian Secrets to Success in Business and Life, from asking the centenarians themselves. US Educational Financial Solutions reviews show that many people find inspiration from their experiences.

In a January feature on Fox Business, Franklin breaks down three important facts on financial wellness based on his interviews:

Diversify Investment

Whether or not King Solomon rose to rule Israel wisely, he earned a place in religious history for his solid reputation as a savvy businessman. Chapter 11 of the Book of Ecclesiastes tells about giving “a portion to seven or eight,” meaning dividing your riches to several parts. Investing everything in one place is a serious mistake; when your investment suffers loss, your capital will, too.

It’s not a surefire way to ensure gains and prevent losses. It’s designed to cut your losses to a minimum, allowing for a quick rebound.

Ten-Percent Savings

This percentage is open to variation; some Americans set aside half of their paycheck for safekeeping in their bank accounts. However, 10 percent is a good start for learning to save. Not only is this vital in building your slush fund but also important in knowing the amount you can well afford to set aside for mortgage later on. In addition, a good solid fund should at least put you financially liquid six months ahead.

Faith, Family, and Friends

Franklin stresses the importance of a social life in managing finances beyond 100 years of age. As you grow older, you will need more help from family members, not just in helping you walk, but also in helping you with your financial needs. Nonetheless, many US Educational Financial Solutions reviews reveal that centenarians have gone through the worst of financial constraints, and, on the whole, have remained financially stable.

US Educational Financial Solutions Answers: Is a Piggy Bank a Hoarder?

Your preschool teacher may have taught you to drop your spare change into a piggy bank. It’s a good way to develop the habit of saving, so why should anyone now think it’s detrimental to the economy?

More than nine million coins are circulating all over the U.S., from pockets to bank vaults. Like red blood cells, everything from the cent to the rare $1 coin needs to move across the market for the small-time economy to thrive. Nevertheless, financial experts, such as US Educational Financial Solutions, explain the idea behind the likely effect of a piggy bank.

Alleged Hoarding

So far, the U.S. doesn’t have a problem with a lack of circulating coins, but some countries do—like the Philippines, which forced lawmakers to push for an anti-hoarding bill, and Argentina, which experienced coin shortage due to hoarding since 2010. Should the U.S. enter a similar predicament, the Mint will simply produce more coins, but experts believe the facility is hesitant to do so these days due to the rising cost of metals.

In Argentina, people hoarding coins seem keener on the value of the metals than of the coin itself. Rising costs of the coins mean bigger return for the alloy peso.

Not So Bad

While there’s some truth to the reports about coin hoarding in some countries, the piggy bank remains a practical way of saving. Saving these coins doesn’t always cause hoarding. When someone drops loose change in the piggy bank, the intention usually is to create a ready fund for emergencies, not to bring them to a smelter.

Nevertheless, experts also advise against sticking with the piggy bank forever. When savings have outgrown the piggy bank, it’s the right time to open a basic bank account. The account will grow in usefulness the older the child grows until the time he or she can put in more on part-time summer work days.

Financial wellness begins with saving. Experts like US Educational Financial Solutions can help you out and take you to the next level, but it’s up to you to establish the foundation for financial security in the future.