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Mom’s Recipe for Financial Freedom

This Sunday we celebrate our mothers and all of the wisdom they tried to impart us.
Now that we’re grown up perhaps we can use some of that wisdom in our fight for financial freedom. Some things to remember:

1.       “Take out the Trash” –Mom’s subtle way of telling you that nothing good happens without hard work.

2.       “Share with Your Sister” –Giving…

Financial Privacy

 
            Financial privacy is still in the news as governments worldwide target those who have the audacity to try to keep their business private (See our Blog of 4/13/16 “Panama Hat Trick”). We know the Government still wants to sift through all of your phone records and internet activity. The IRS will be examining your health along with your money. We also know that t…

Panama Hat Trick

 
                By now you will probably have heard about the trove of secret bank accounts from Panama which were hacked and made public.

 

                Governments celebrated and prepared to unleash their tax men, while the liberal press trumpeted another chance to shake down the rich. Little attention was paid to accounts held by government figures,…

National Panic Week

Tax filing time is upon us once again.
Millions of Americans are suddenly realizing that the dreaded April 15 deadline is next week. Its National Panic Week.

The Panic can be particularly acute for people struggling with debt burdens and unexpected tax liabilities. So lets review some tax wise ideas which we hope can help relieve the Panic:          

1) Don’t forget to mak…

Taxing the Wrong Stuff

            Income tax is bad enough, but some folks end up paying tax on the wrong stuff. Don’t pay tax on income that is not taxable. Some Examples:  

 

                                                1. Employer provided Health Insurance is not…

Keep Hope Alive This Easter

 

                Some years ago we counseled with a young man who considered suicide because of a $5,000 debt. That’s when we learned that its not the amount of debt that matters, it’s the burden of the debt on the soul.

 

                Studies show that hard economic times are being blamed for a 31% increase in suicide from 1999 to 2010. Sinc…

Ten Tax Tips

            Tax time is less than a month away.
 

            Some tips:

           

                        1. File your returns on time even if you owe money. The IRS will let you pay them                        out and you will save the 25% late filing…

Married to Debt

 

              When it comes to questions about marriage and debt, knowing the right answers can make a big difference.

              Many people think that marrying the person means you have married their debt. The truth is that you are not liable for your spouse’s premarital debts unless you sign on the debt to become liable. However, it still pays to know…

Work and Retirement

 

            More and more people are not asking themselves when to retire, but if they can retire.

 

            Most of our ideas about retirement were based on the 50’s industrial model, with a company pension after a lifetime of work supplemented by social security. That model began to break down in the 70’s, as old fashioned pension plans proved to b…

Reaching Your Savings Goals

  Last week we reported that a major financial company has recommend a savings goal of 10 times annual salary by the age of 67. Now people want to know how an average family making $60,000 per year can possibly save 10 times that, or $600,000.
            The key is to break down the savings goal into realistic components and tackle them one at a time.

            First…