The global marketplace is expanding at a phenomenal rate. Yet, the American education system is moving at the pace of molasses to meet the ever-changing needs.
Presently, the United States sits at the top rank of the world’s economy, but it isn’t a comfortable position. By 2020, everything may change – emerging markets are set to become a pivotal part of global economics, and China is on track to tackle the US and take the top spot from our fumbling hands.
What does all of this mean?
It means that if our education system doesn’t change with the times, our children will no longer have the ability to compete with the strength we once had in the global market.
1. Competition will be stronger
2. The dollar will be weaker
3. Unemployment will be higher
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Winning the lottery may not be all it’s cracked up to be. Statistics show 70% of lottery winners spend all of their fortune within a few years. Basically, if you didn’t know how to handle your money well before playing the lottery, you don’t magically get a visit from the Personal Finance Fairy who blesses you with mad money management skills overnight. Most people who play the lottery regularly view their lottery spending habit as an investment for a chance to live happily ever after. Their views on money are skewed, and even if they win, the sudden windfall can rather quickly turn into money lost.
In report after report, studies have found the majority of lottery winners actually win enough cash to get out of debt, yet wind up oweing more than before they hit it big after a series of bad financial decisions. Most aren’t prepared to manage such a large sum of money and are overwhelmed by the emotions that go along with a suddenly padded bank account.
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As a freelance writer who has deadlines to meet, even when I travel, I know what it’s like to engage in business away from the workplace (or, in my case, from home). If you want to keep up while you are away, and you need to do a little work, here are some tips to help you work more efficiently while traveling:
Bring a Priority List
First of all, you need to make sure you have a priority list. Chances are that you won’t be able to handle your entire workload while you are away. As a result, you will need to decide which items are the most important for you to accomplish before you go. Create a priority list so that you know which items to focus on while you are away. You want to make sure that you handle the important items, as well as answer only the most important emails. Use an automatic vacation response to emails, and then select only the most important to answer.
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You want to live a long life, but if you’re like most Americans, you’re not doing nearly enough to make sure that happen. Our life expectancy has never been longer, and yet it’s never been more difficult to thrive in old age. Sure, the potential is there, but a long and prosperous life doesn’t happen by accident. Social security isn’t enough, your children will move away, and financial instability will cripple you if you don’t insulate yourself from the inevitable danger.
Yes, aging is scary.
But it could be so much better. Money and health are threaded together in your life’s tapestry. While you have no control over your genetic makeup, you have the full reigns over your behavior.
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You have health insurance and life insurance, which means you and your family are entirely covered should something happen, right?
Wrong.
Suppose you suffer an injury or long-lasting illness that makes it impossible for you to work. While your health insurance coverage will take care of your medical expenses, and your life insurance will provide for your family should the worst happen, you will be facing debt and potential financial instability if you have no way of replacing your income while you are disabled. And according to the website DisabilityCanHappen.org, “just over [a quarter] of today’s 20 year-olds will become disabled before they retire.”
Disability insurance is one of those things that no one ever thinks they need. But you need to know that you could still pay your bills if you were to become temporarily or permanently disabled. Here are the basic facts you need to know about disability insurance:
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I recently had the privilege of being a fly on the wall during a one-on-one interview with Ramit Sethi, author of the New York Times Best Seller I Will Teach You to Be Rich. And while I can’t divulge the details of the interview (as much as I’d like to share them with you), I was inspired by Ramit’s ideas and picked up his book from Amazon. What struck me the most about Ramit? He’s young, he’s confident, and his ideas on personal finance aren’t orthodox.
Ramit Sethi’s Advice for Those Interested in Personal Finance
If planning for a secure financial future is a priority for you, some of Ramit’s words may surprise you, especially if you’ve read more traditional literature on personal finance. Here’s what he suggests early in his book:
- Stop trying to be an expert on personal finance. Take action now.
- Keep your choices simple. For most people, financial planning is simple: do some basic research, invest and leave it alone. Save as much as you can, even if it’s just $20 a month to start with.
- Stop spending money on items that aren’t top priority in your life.
Makes simple sense, yes?
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