Probably no area of people’s lives has received more media attention than advice about money matters and financial health. There was a time when Money Magazine was the go-to publication for people looking for investment and spending advice.
After years of helping users figure out their finances, the New York Post reported in April 2019 that the magazine would stop printing in June 2019. The primary reason for folding the print version of the magazine is that the owners couldn’t find a buyer.
In memory of the 47-year-old publication, we took the time to look at the ten most important articles it published.
A Brief History of Money Magazine
Money magazine is a publication focused on personal finance. Its first issue published in 1972. Time Inc., a mass media corporation owns the magazine.
Money covered topics such as investments, retirement, estate planning, and careers.
Time Inc. became Time Warner after its merger with Warner Communications. The online publication of the magazine, Money.com, started publishing in 2014. In 2017, media company Meredith Corporation acquired the company for $1, 8 billion.
The 10 Most Important Articles Published in Money Magazine
Money magazine published thousands of articles in its nearly 5 decade lifetime. It would be impossible to summarize all of them. Hence, we have decided to focus on the top ten that attracted the most attention. To determine how much recognition an article received, we looked at the number of inbound links the article received from other websites. As the number of editors and webmasters that share an article with their readers increases, your confidence in the importance of that article should also increase.
From the ten features in this list, you will notice that they all have some practical value. For instance, the first two are about the best jobs and the best places to live — probably two of a financial life’s most important aspects. Other features cover wills and estate planning, an area that many people often ignore at their peril.
1. Best Jobs in America
This series of lists contains jobs for everyone – the youth, over 50s, parents, and even military veterans. These jobs target people at different stages of life. Careers in marketing, finance, and human resources dominate the lists. Unsurprisingly, one thing that almost all of the top-rated jobs share is a substantial salary.
2. Best Places to Live
An analysis of the lists provided in this article shows that good schools, job opportunities, and access to social events are important concerns when choosing a place to live.
What is clear from this feature is that great homes don’t come cheap. However, quiet and relatively inexpensive towns also make the list.
3. Estate Planning: Wills and Trusts
This article reminds readers to review their wills often, especially after significant changes in life, such as having a child or getting married. The report emphasizes that if you have not specified in your will who should get your assets, “a court may decide to distribute them to heirs whom you may not have chosen.”
4. Spending: How to Make a Budget
In this feature, Money explains how technology makes it easier for you to stay on top of your bills. It highlights websites which can help you create a budget and remind you when bills are due. According to the article, a budget ensures that you watch out against cash leakages, ensure you are spending within your limits, and save for big-picture items.
5. Taxes: Taxes You Have to Pay
This feature on taxes you have to pay breaks down the different types of taxes and percentages due from different income thresholds. It also highlights surtax (additional tax) that some households must pay. The article also explains some other taxes which people are likely to overlook or not even know about.
6. Stocks: Investing in Stocks
Based on this feature, if you are seeking a great way to manage long-term savings, owning shares is a great option. It notes that stocks provide a good return on investment. Readers are also advised to invest in companies with above-average growth to minimize the risk of losses.
7. Debt: How to Pay Off Debt
The average American has $38,000 in debt, excluding mortgages, reports this feature. It explains that getting out of debt doesn’t have to be punishing. The feature contains some tips for reducing debt: creating a budget, cutting down on unnecessary spending, and boosting your income.
8. Estate Planning: Types of Trusts
This feature notes that trusts give you more control over the distribution of your assets after your death. It adds that trusts also protect your wealth from creditors.
9. Life Insurance: Choosing a Life Insurance Policy
This feature reports that insurance companies pay a higher commission to agents who sell whole life insurance. Therefore, agents push to sell this insurance even when it isn’t the best fit for the customer.
The article highlights whole life insurance as one of several permanent insurance policies. It advises readers to choose term policies because they are “are cheap for relatively young people who are in good health.”
10.Saving for College: Maximizing College Savings
This feature advances the view that a great way to maximize savings is to invest in stocks. Readers are advised to stick to simple investments and mutual funds. The piece also looks at some tax credits that can help parents cut the cost of tuition and what it takes to qualify for them.