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Less Debt, More Happiness

I have written previously about the plethora of research that shows a link between income and happiness. Most of those studies find that the more money people bring in, the happier they are—until earnings exceed $75,000, at which time the correlation declines. What I’ve never thought to address when I have reported on these studies […]

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Emotional and Financial Returns of Paying Off Mortgage

Suppose you’ve come into some extra cash. You decide to use it prudently in one of three ways: keeping it in cash, putting it into your retirement plan, or paying off your mortgage. Which is the better option? I usually find the answer isn’t just about the money. Paul Thorstenson, an accountant with Ketel Thorstenson, […]

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Why Some Financial Advisors May Like Debt

A recent post on Twitter asked, “Why don’t more financial planners advise clients to pay down debt?” Certainly, many of them do. The reasons others don’t may lie in the type of debt, the age of the client, the advisor’s investment philosophy, and the advisor’s compensation model. While most advisors would agree paying off short-term […]

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