If you need money, you are usually better off taking it out of your non-IRA accounts before touching your IRA. That’s because when you take money out of your non-IRA accounts, you don’t usually trigger any tax. But every dime you withdrawal from a traditional IRA is taxable income my friend. On top of that, […]
Should You Move To Reduce Your Taxes?
Does it make sense to relocate to another state in order to save on taxes? Depending on your situation, it could make all the sense in the world. The more money you earn and the higher your current state tax burden is, the smarter this move could be. But the benefits go far beyond simply […]
5 Ways to Save 20 Percent More Money without Trying
In the financial world, there are very few free lunches. But if you are interested in putting more cash away towards your future, there are quite a few no and low cost “buffets” open – with no waiting lines either. In my experience, there are 5 very juicy ways to beef up your monthly saving. […]
The Expensive Investment Mistake Millennials Make
If you are between the ages of 21 and 36 you might not know what to do with your money. I get it. It’s hard to save and investments are confusing. If that describes you, you might decide it’s just easier and safer to keep the money in the bank. If so, you aren’t alone. […]
Do New Laws Make Reverse Mortgages Safe?
Using home equity to provide retirement income can be a brilliant move. There are a number of ways to do this. Taking out a reverse mortgage is one option of course. But is it a good one? And have new laws made it a better idea? Let’s take a look. What is a Reverse Mortgage? […]
Teaching Kids about Money so They Don’t Go Through All Yours
Are you doing a good job teaching your kids about money? Are you worried about them growing up unable to make smart financial decisions? Are you petrified at the notion that they’ll have to face the tough challenges you did…or worse? Do you fear they’ll repeat your jug head mistakes? If so, join the club. […]