Financial Market Updates
Although nobody was surprised by the news, Janet L. Yellen was confirmed as the first Fed chairwoman. She will be taking office on Feb. 1st, three days after the FOMC meeting ends. Guess we’re stuck with Bernanke for one more session.
Despite all of the recent talk about more Fed tapering (ever since the Fed started tapering in December), the unemployment report on Friday probably put a stop to further cuts in the near-term. Although the unemployment rate went down to 6.7%, the economy only added 74,000 jobs. This will certainly give Bernanke pause before handing over his position to Janet.
Personal Finance Updates
Have you ever signed up for a rewards credit card and didn’t know how to ever reach the minimum spend limit because you never spend $1000 within three months on a credit card? I gave you a list of 10 ways to reach your credit card minimum spend limit quickly and easily.
Although we try to stay away from retirement posts on this blog since we’re mainly talking to you recent college graduates, Rachel wanted to let you know some strategies for funding your retirement accounts. Make sure you focus on your 401k and IRA first before you start investing in individual accounts. The longer that money sits in your retirement account, the better. The money in my 401k is stuck there until I reach age 59.5, so it’s got a nice long 36 years to sit and grow.
For those who still can’t save for retirement because of a mountain of student loan debt, you’re not alone. The average graduate leaves college with $35k in debt! That’ll take years to pay down. No wonder the average age of retirement has moved to 73 for millennials.
Links from the Rest of the World:
We love reading personal finance advice, so here’s some interesting stuff we found…
Since I’m looking to start building a rental property portfolio over the next year, I have been reading a lot of articles on owning and caring for rental properties. Bigger Pockets posted this funny post about 22 things he learned from owning his first rental property.
Want to know everything that is happening in the markets right now? Check out this awesome presentation by JP Morgan.
Want to make some money fast? Here are 25 easy ways to make money fast.