Over the next several days, treat yourself to a year-end review. The purpose of this exercise is twofold. First, it’s good business to tie up your loose ends. Second, reflecting on what has transpired over the last 12 months can help you be more effective over the coming year. Let’s see what your year-end review should consist of. First, [...]
Is a loan broker suggesting that you refinance your mortgage and jump into an adjustable rate mortgage? Before doing so you have to ask yourself just one question: do you feel lucky? Well, do you? Take a look at this graph. It says it all: This shows where adjustable rates are relative to where they [...]
Small business owners tend not to think about continuation, but that’s often a mistake. If your business generates any profit, it’s worth something. Sometimes it’s worth a great deal. It makes perfect sense to spend a little time to protect your enterprise with a small business continuity plan. A side benefit is that the same [...]
Have you ever stopped to ask yourself what you really know about the poor people in America? I know I never have. Are most poor people homeless? Are most poor people hungry? I’m not proud of saying this, but I never stopped to consider it. A few months ago I read an editorial in Investor’s [...]
There are ways to significantly increase your portfolio income. In a world of near 0% interest on CDs, that’s good news. Here are my top 3 tips on how to do it: 1. Callable CDs If you have no appetite for risk, you’re probably a CD buyer. But if you are a CD buyer, you’re [...]
The following post has been completely updated from the original version that appeared on January 25, 2010. Tax-free income at retirement – who wouldn’t want that if they could get it? And you can if your money is invested in a Roth IRA. That’s why Roth IRA conversions are a hot topic. With the Roth, any [...]
If you were playing a word association game, it wouldn’t take long for somebody to put the words “children” and “expensive” together. According to Time Magazine, the average cost of raising a child born in 2007 to age 18 is $204,000. And that doesn’t even consider the fact that few parents cut the financial strings [...]
You can pay off a car loan quicker and cheaper than you think. And if you have a car loan that carries a high interest rate, your number one priority should be to pay it off as early as possible. Fortunately, it’s not difficult to do. 1. Determine how much money you need to increase [...]
If you own an IRA and you’re approaching age 70 ½, you’ll be forced one day soon to take an RMD. What is an RMD? It’s a Required Mandatory Distribution, and it’s one of the most important IRA rules there are. In other words, the government will force you to start taking money out of [...]
If you are thinking about retirement, one of your biggest questions is how to make sure your nest egg lasts as long as you do. Even if you aren’t going to retire for another 10 years, you might be worrying about being behind schedule on the savings front. Two steep market declines over the last [...]
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