Goodbye to the Joneses. 3 Practical Steps to Arrive Financially. The Joneses are everywhere. And boy, do they like to spend money; frequently money they do not even have. Please do not try to compete with them. They will beat you every time. When running out to money or filing for bankruptcy tires them, they… Continue Reading: Goodbye to the Joneses. 3 Practical Steps to Arrive Financially.
Why you need to Trust and Verify is a slight variation to what former President Ronald Reagan said, “Trust BUT verify.” This was, of course, during the Cold War. The BUT that he mentions was directed at the Soviet Union, now known as Russia. It is hard to fathom any communications that has the words… Continue Reading: Why You Need to Trust AND Verify Online Financial Advice
This is one of the all-time classic lines in the movies. Captain Quint, Police Chief Brody and Hooper are out looking for the Great White Shark in the movie Jaws. After the Great White attacks the Orca, Brody turns to Quint and says, “You’re gonna need a bigger boat.” What does this have to do… Continue Reading: Practical Reasons Why “You’re Gonna Need a Bigger Boat.”
Here is how the new SALT Deduction can save you taxes. President Trump recently signed the H.R. 1 – One, Big, Beautiful Bill Act (OBBBA). Although there are lots of changes, today we will just address the increase in the State and Local Tax (SALT) deduction. Most Average Joe’s need to pay attention to this.… Continue Reading: How the New SALT Deduction Can Save You Taxes
Practical Financial Moves for the Second Half of the Year. The first half of the year is in the books. Here are Practical Financial Moves for the Second Half of the Year. As you may recall, at the beginning of the year, we gave you 3 Reasons to Skip the Financial New Years Resolutions This… Continue Reading: Practical Financial Moves for the Second Half of the Year.
In golf the low score wins. The player with the least strokes per round is the winner. If you hit a bad shot into the woods or the water hazards (ponds and streams) you can get a mulligan. You can have a second shot and not have a penalty. However, according to the rules of… Continue Reading: No Mulligan for Retirement – Easy Ways to Get It Right the First Time
Depending on whether you counted your birthdays or used the mortality tables, many (including the author) are on “The Back Nine.” You have made the turn, grabbed a burger and a coke at the stand and are starting the last nine holes. Unlike real golf, with financial planning, there is no mulligan allowed. Your mission… Continue Reading: The Back Nine – Practical Financial Steps for Retirement
Here are 5 Easy Reasons for a Pending Economic Slowdown. 1)Trade Wars At the top of the list is the current trade wars. Frankly, it is hard to keep up. So far, President Trump has signed 93 Executive Orders and counting. If he signs 7 more by April 29, 2025, he will have averaged one… Continue Reading: 5 Easy Reasons for a Pending Economic Slowdown
With April 15th right around the corner, well its Tax Day. Time to settle with Uncle Sam. If you have state income taxes, you will also have to settle with Cousin Sam. A Brief History of Income Taxes The first modern day income tax in the United States was in 1913 with the passage of… Continue Reading: “I Love Paying Taxes.” Said No One, Ever!
IRA To be eligible for an IRA, you will need to have earned income. This is from your wages as an employee. If you are self-employed, this would be from your self-employment income.In the past, there was an age restriction on who can contribute to an IRA. This is no longer the case. If you… Continue Reading: IRA vs. Roth IRA. What You Need to Know.