In 1716, Christopher Bullock wrote, “Tis impossible to be sure of any thing but death and taxes.” Two centuries later, researchers keep trying to disprove the first, while Washington DC seems intent on proving the second. However, through the law of unintended consequences, Congress made it possible for you to make your kids millionaires without them […]
After years of writing about personal finance, I can confirm something important. Many people strongly resist ‘frugality’, and some of them have very good reasons. One thing I’ve noticed is that if you grew up middle-class and secure, frugality can seem attractive and fun. If you grew up poor and deprived, frugality can be triggering […]
No matter how long you’ve been in business, what industry you’re in or how much longer you plan to work, exit planning is essential. And the sooner you get started, the better. Exit planning can protect you, your investors, and the business you’ve worked so hard to build. Let’s dive deeper into everything you need […]
Making money from your hobby is a dream for a lot of people, but it’s easier said than done. The old adage to ‘do what you love and the money will come’ is pretty much hogwash. Doing what you love won’t make you money unless you put it in the context of a workable business […]
My theme word for 2021 is simplify. I plan to apply it to every area of my life. But I’m starting with my finances. Running your personal finances in a streamlined, simplified way is a key step on the road to eliminating financial stress and improving your financial position long-term. If that’s sounding attractive to […]
When people think of financial professionals, a local financial advisor most often comes to mind. And with approximately 300,000 financial advisors in the U.S., the role they play helping millions of Americans invest and improve their financial health is considerable. Beyond financial advisors, there are other types of financial professionals to consider as well, including […]
The Roth IRA Is a Sweet Deal in Many Cases In a previous article, I mentioned how I wish the Roth IRA would have been available when I started saving for retirement in the early 90s. Back then, I lived in Texas, where there are no state or local income taxes, and my annual income […]
I am always fascinated by anything having to do with money and our mindset, so this research paper on how people select investments in their 401(k) got me. A study has shown that regardless of industry, company size or any other factor that might determine an employee population’s investing knowledge, people are much more likely to […]
As a Certified Public Accountant (CPA) who used to prepare taxes for individuals, many people are often surprised to learn that I don’t even prepare my own income tax returns anymore. So I can attest to the challenge people face when searching for the best tax preparer for their unique needs – not all tax […]