Begin here if you’re further along in the management of your personal finances and you’re ready to maximize your earnings and investments, and limit your tax liability.
When we’re young, it’s hard to picture ourselves or our loved ones as older adults—especially older adults in need of care. But many of us will need care as we age. Once we reach our 65th birthday, we have a 70% chance of needing some…
Investing in real estate is an excellent way to build wealth and create cash flow. But it’s also a big financial commitment. And with any big financial commitment, you want to avoid big mistakes. According to Investopedia, “Skimping on Research” is one of the top…
A good part of the working population in the United States has some type of retirement plan investment account. Most individuals contribute to either an employer-sponsored retirement plan like a 401(k) account or a Traditional Individual Retirement Account, known by the IRA acronym. People who…
It’s amazing how many people in the U.S. are involved in the stock market, whether they know it or not. Sure, many people actively invest in stocks through their brokerage firm, online brokers, or other investments accounts. But there are also tens of millions of…
You loved the house you rented at the beach. The ski-in, ski-out condo you rented over the holidays was perfect for your family. Your lanai overlooking the 4th tee at the golf resort was amazing. The leaves at peak color all around the cabin you…
There are many different ways to invest for long-term wealth. And investing in an individual retirement account (IRA) is an excellent choice for many people. Regular IRAs hold government-regulated investments, like traditional stocks, bonds, mutual funds, ETFs, and CDs. And these investments are an excellent…
Whether you’ve just started a new solo business venture or you’ve been an entrepreneur for years, it’s wise to consider all the advantages of using a business credit card. Sole proprietors and small business owners are often so busy running their companies they overlook the…
After a record-high stock market, low-interest rates from the Federal Reserve, and pandemic woes, inflation arrived. Inflation, a general increase in prices for goods and services, which reduces the purchasing power of money, may sound scary. Yet inflation, at least in moderation, is part and…
Investing is an integral part of building your financial house. While saving an emergency fund and budgeting is crucial to staying out of debt, you won’t build wealth (and outpace inflation) without investing. Compounding works its magic by growing your net worth the earlier and…
One of the biggest concerns those self-employed, unemployed, or early retired have is how to pay for healthcare. According to EHealth, the average non-subsidized healthcare plan for a family of four was $1437 per month in 2020. And that is just the cost of premiums!…
“You’ll need $2.8 million to take care of your child for their life.” I’ve never heard a sentence more deafening than that. My husband and I sat there, staring blankly back at our financial advisor. I swear I could feel my heart slow, and my…
You will discover many investment options as you explore ways to build your long-term wealth. In your search, you might come across the term “accredited investor.” Perhaps you noticed certain investments are only open to accredited investors. You might wonder what one is and the…
This post is sponsored by Haven Life. There’s a good chance you have family or friends who have lived into their 90’s. Or maybe even a few to age 100 or beyond! The Social Security Administration reports approximately one in three 65-year olds today will…
Live in house flipping is a real estate investing strategy that can certainly pay off – if you’re up for the challenge. It’s a slower approach than traditional house flipping. But live-in flips have some unique advantages that can make them profitable. With a live-in…
Elder fraud is a large and growing problem, costing many seniors the savings they worked hard for in their younger years. Reports indicate older Americans lose anywhere between $2.9 to $36.5 billion each year. According to the U.S. Consumer Financial Protection Bureau, individual victims of…
You’ve finally decided to start your own business. That’s exciting — congrats! You’re passionate about your idea and confident in your ability to pull it off. Still, you’re not sure how to fit being an entrepreneur into your life – especially your professional life. The…
Investing in real estate is a popular way for people to build wealth over time. Commercial real estate may interest more seasoned investors. But those who are just starting usually invest in single-family rentals or smaller multi-family properties. House ‘hacking’ has also grown in popularity…
Entrepreneurs and small businesses nowadays are taking full advantage of social media to promote their companies, products, and services. And why shouldn’t they? Social media marketing is a form of “earned media” (as opposed to paid media) as it is driven organically by word of…
Pros and Cons of Real Estate Investment Clubs It seems like a lot of people you know or read about are trying to build wealth through real estate. Some buy houses to “flip” and others are buy-and-hold investors. There are investors only buying single-family rentals…
According to a report by Merrill, over three-quarters of parents provide financial support to their adult children. From allowing their kids to live at home to paying for their cell phone bills or even footing their student loan payments – parents are giving grown children…
Donor-advised funds. Everyone seems to be talking about them as a better way to give to charity. But what are they, exactly? And why have they become so popular and what are the benefits of setting up donor-advised funds for charitable giving? You may be…
Whether you currently invest in real estate or are new to the idea, buying rental property in a college town might have crossed your mind. Much of the standard real estate investing advice applies to properties in college cities. But there are some key differences…
We know the thought of creating an estate plan might make your head spin. But failing to do so can cause way more mind-numbing, stressful, and time-consuming efforts later. Creating power of attorney (POA) documents as part of an estate plan assigns an individual the…
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There are many facets to investing. One thing all investors will not want to overlook is the tax consequences that come with being a successful investor. Because all net profits made from investments sold in taxable brokerage accounts come with tax liability, your investment strategy…
Good investment advisers always promote the importance of investment diversification. While each investment market comes with inherent risks, the riskiest move of all would be putting all your investment dollars in one basket. A lot of bad things have to happen in a short period…
At its core, networking is about meeting people and expanding your circle so you can get more done and make a more extensive impact. Often viewed as a helpful tool for job seekers who need to connect with hiring managers, networking is just as critical…