How Can I Retire?

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How can I Retire?

One of the biggest questions we face is “How can I retire?” In today’s financial situation. We spend our retirement without even thing about it. Living for today or trying just to survive will catch up to you in the end. Planning ahead is the key. Something we really don’t do, especially when were young. Who thinks about getting old? That answer is elderly people that now have to face retirement based on Social Security only. Just imagine trying to enjoy your retirement on $1200 a month. Can you do it?

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When in Debt – Who You Going to Call

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Who you going to call

What are we supposed to do when we experience financial difficulties?  If simple changes to the budget or the liquidation of assets doesn’t resolve the problem where can we turn?  We see the advertisements on TV and the Internet offering solutions but we have also read the horror stories of con-artists and less than scrupulous companies taking advantage of others in our situation, so who can we trust?  We are moral and ethical borrowers and we want to live up to our obligations but the creditors don’t seem to want to help, is my only option left Bankruptcy?

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Your Credit Score and You

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Whether you’re buying a home, a car or applying for a credit card, Lenders want to know the risk they’re taking by lending you money. FICO scores are the credit scores used by 90% of the top lenders to determine your credit risk. Your FICO Scores (you have FICO Scores for each of the 3 major bureaus) can affect how much money a lender will lend you and at what terms (interest rate). Higher FICO Scores can often help you qualify for better rates from lenders. This will save you money!

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Student Loan Nightmare

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Nearly 20 million Americans attend college each year. Of that 20 million, close to 12 million – or 60% – borrow annually to help cover costs. There are approximately 37 million student loan borrowers with outstanding student loans today. As of the fourth Quarter of 2014, the under 30 age group has the most borrowers at 14 million, followed by 10.6 million for the 30-39 group, 5.7 million in the 40-49 category, 4.6 million in the 50-59 age group and the over 60 category with the least number of borrowers at 2.2 million for an overall total of 37.1 million. There is roughly $1.16 trillion in total outstanding student loan debt in the United States today, WOW!

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Own Your Life – Setting Up Controls

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Setting up Controls

OK, so now you have your budget, but a bunch of numbers on paper doesn’t mean much.  You have to start following the budget and that is going to be difficult, especially the first couple of months.  To make sure that you are following your budget you are going to have to set up some control systems.

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Own Your Life – Creating a Budget

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A Debt Coach covered Financial Goals and Estimates vs. Actual in the last two publications. Before you can create a workable budget, you need to figure out your goals, net monthly income and your current monthly expenses. If you have not completed or read the first two publications, Please go back to Own your Life – Financial Goals and Estimates vs. Actual to get prepared for your new monthly budget.

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Present Day Mafia – The Solution

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Present Day Mafia – The Solutions

If you ever found yourself having to use these high interest rate lenders then I know you have experienced sticker shock. It is a tough decision to make, but when the needs outweigh the costs your choices are limited. If your credit keeps you from getting a credit card or a bank loan, these lenders of last resort may be your only option. If it is the only way to stop an eviction or a disconnection I can certainly understand the justification, life happens.

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A Debt Coach 2014 Annual Report

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2014 Annual Report

Mission Statement

A Debt Coach Credit Counseling Service (ADC) was started by a local businessman who saw a need in our community to help people free themselves from the financial restraints of debt.

ADC will provide debt management assistance to all consumers as well as promote credit education through budgeting tools, educational workshops and credit counseling services. We have a staff of trained and Certified Credit Counselors that will create a personal debt management plan for any consumer.

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