We were recently visiting friends down south. They live in a beautiful community that has a Homeowners Association (HOA). Their neighbor had something odd in their yard, a batting cage. Our friends called the manager that runs the HOA to inquire about this. All they were doing was inquiring. The manager indicated that, as they… Continue Reading: Why Getting Old is the New Normal
3 Simple Reasons You Need to Fund a Donor Advised Fund (DAF) in 2025 A Donor Advised Fund (DAF) is a tool that allows you to contribute to a fund and get an income tax deduction in that year. Speaking of tax deductions, it reminds me that, “I Love Paying Income Tax.” Said No One… Continue Reading: 3 Simple Reasons You Need to Fund a Donor Advised Fund in 2025
IRA Giving After Age 70 ½: How to Make a Qualified Charitable Distribution As a former CPA with over 40 years of experience, our observation is that people are very generous with the donations they make. People typically donate cash, write a check to the charity, or put the donation on their credit card. Now,… Continue Reading: IRA Giving After Age 70 1/2 : How to Make a Qualified Charitable Distribution
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
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
Here are 5 Easy Reasons for a Pending Economic Slowdown. 1)Trade Wars At the top of the list are the current trade wars. Frankly, it is hard to keep up. So far, President Trump has signed about 260 Executive Orders and counting. In investing, there is a term called Fear of Missing Out. This means… Continue Reading: 5 Easy Reasons for a Pending Economic Slowdown
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
1) It Has Been a Heck of a Run Many Average Joe’s have done well in the markets for an extended period. From the market low in 2009, the Standard & Poor’s 500 Index (S&P 500 Index) has averaged over a 14% annual return. Even if you do not use the starting point of the… Continue Reading: 3 Easy Reasons You Need a Financial Lifeboat Drill
Here are 3 Great Reasons to Fund a Health Savings Account 1) Contributions are Tax Deductible To contribute to a Health Savings Account (HSA) you need to be eligible. To qualify you need to have a High Deductible Health Plan (HDHP). There are two requirements for this. Having a minimum deductible and a maximum out-of-pocket… Continue Reading: 3 Great Reasons to Fund a Health Savings Account