Zero-based budgeting might work for some people, but there is a much better alternative for almost everyone. Before I go further, let’s look at what zero-based budgeting is. Quite simply, this is a process whereby you account for every single dollar you bring in. You budget every penny. You budget some money […]
Archives for May 2010
Do You Need Mortgage Life Insurance Protection?
Mortgage life insurance in insurance that pays off your mortgage (whatever the balance is) if you kick the bucket. It sounds pretty cool on the face of it; who wouldn’t want to leave their family with a home that’s free and clear of debt if they die? So yes, it sounds good. Even better, it feels […]
How to Select the Right Roth IRA Beneficiary
Your Roth IRA beneficiary decision has to be considered very carefully. That’s because IRA beneficiary rules are very specific to the IRA and also because a Roth is a very different animal than a traditional IRA. The real power of a Roth IRA comes over time. The longer you keep the Roth (rather than […]
Should I Sell My Stock after It’s Lost 50%?
“Should I sell my stock?” That’s a question I hear often. Here’s an e-mail I recently received on this very question: Should I sell my stock & bonds? I’ve lost $7,000 lost in 10 years. That’s half the amount I invested. Should I buy gold with the $7,000? How would you respond? I told this […]
How to Avoid IRS Trouble When Your Spouse Doesn’t File
You’re looking at serious IRS trouble if your spouse doesn’t file a tax return. Not only that, it could be a bad omen of things to come. Here’s a question I received not long ago from “B,” an anxious reader who was facing this exact situation: My husband is self-employed and has not paid […]
Financial Advisor Training – Real World Advice from a Successful Certified Financial Planner (R) Professional
If you are interested in becoming a professional advisor, the bad news is that there is no school that provides financial advisor training . But don’t be discouraged. I’ve noticed about successful professionals that may surprise you: 1. Don’t start off in this as a side job. It is full time work. You need 100% […]