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The www.FedPrimeRate.com Personal Finance Blog and Magazine

Sunday, August 28, 2016

12-Week Coding Boot Camps Yield 100K+ Starting Salaries

Why go to college, and take on serious debt which may burden you and your family for countless years, when you can participate in a 12-week, computer programming boot camp, and earn a starting salary of $100,000+?

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Saturday, August 20, 2016

Six Million American Homeowners are Still Underwater

Nightly Business Report: 6 million homeowners still owe more on their mortgage than their home is worth (negative equity.)

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Friday, June 17, 2016

Wells Fargo: Many Potential Buyers Are Misinformed About Mortgages

From this short, NBR video segment: three mortgage myths:

  1. Must have a 20% down payment
  2. Must have high income
  3. Must have perfect credit

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Sunday, June 12, 2016

Federal Reserve Report: Household Net Worth Sets New Record-High

According to the Federal Reserve's recent Financial Accounts report, in terms of both current and inflation-adjusted dollars, Americans households were at their wealthiest ever, during the first quarter of 2016.

Q1, 2016: $88.087 trillion


2015: $87.25 trillion

2014: $84.201 trillion

2013: $79.383 trillion

2012: $69.598 trillion

2011: $63.545 trillion

2010: $62.316 trillion

2009: $58.094 trillion

  • 2008:  $56.214 trillion

2007:  $66.577 trillion

2006:  $66.095 trillion


So, from the painful days of the 2008 banking crisis and start of the Great Recession, to the first quarter of 2016, household wealth has increased by $31.873 trillion (56.7%.)


Household Net Worth
Household Net Worth


The Fed' next Financial Accounts report will be released on September 16, 2016.  Stay tuned for the updated figures...

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Monday, May 30, 2016

Federal Reserve Report On The Financial Well-Being of American Households for 2015

A report on the decision-making and financial well-being of American households during 2015, from the Federal Reserve:

Click here for the transcript (PDF).

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Saturday, May 28, 2016

2016 Check On Social Security Estimated Benefits

Recently stopped by the Social Security Administration (SSA) website to check on my benefits.  The address is:

First, some context with regard to my situation:

  • I was born at the start of the greatest decade ever: the 1970's

  • I worked in corporate America until 1999, when I decided it was time for me to do what comes natural to people with my personality: self-employment.

If I die this year, my daughter can count on around $659 per month from the SSA.

Notice that that one-time death benefit is for my spouse (I'm not married) or minor child is only $255.


In order for me to qualify for retirement benefits when I reach 65, I'd need 40 "credits" of work.   Currently, I have 37.



If I am not able to accumulate the retirement-minimum 40 credits by the time I'm 65, I will not qualify for Medicare.



The system is setup so that even when deserving folks apply, seldom do they get approved, as a matter of course.

Feeling useless is pretty much a death sentence for someone like me, so this is n/a.

NB: I don't understand why the SSA is offering me a link to apply for disability benefits when they've already let me know that I don't qualify.  ???????????


Bottom line: Based on these numbers, it's quite clear that one should always be realistic about Social-Security benefits.  Amen.

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Wednesday, April 20, 2016

Life Insurance Benefits Often Denied

Here's a highly recommended (and brief) segment detailing examples of life insurance companies deny benefits, produced by the folks at CBS News:

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