Tax filing time is an ideal time to review your financial affairs. You have to gather information to prepare your tax return at this time. Why not take one more step and do something positive for your financial well-being? The following suggestions will get you started on your financial review: Hold a discussion with your […]
Have you recently married, divorced, or lost a spouse? A change in marital status should prompt a review of financial matters, but at such a time it is easy to overlook the details. Here are a few reminders and suggestions. Insurance coverage. When your marital status changes, review your insurance policies. Combining separately held health insurance […]
Buying a Business If you are considering buying an existing business, take time to investigate the business thoroughly. Don’t be too eager. Many people feel they should get into the business and then worry about the problems as they develop. An investigation of all the problem areas may indicate that you shouldn’t buy that particular […]
Long-term care insurance has the same tax-favored status as regular health insurance. In recent years, a number of employers have started to offer long-term care insurance as an optional employee benefit, and most insurance companies offer individual policies. Insurance typically covers the cost of extended care in a nursing home, or in your own home […]
Hobby or Business? If you’re like some taxpayers, you have a pastime that brings in cash but produces a loss after you deduct your expenses. Example: an amateur artist who spends money for paint and canvas but who only occasionally sells a painting. If you could deduct “hobby” losses on your tax return, you could […]
If you’re serious about saving money, it’s important to focus on costs you can control. Some items may claim a large slice of the budget pie, but they’re either fixed or relatively inflexible (like mortgage and utility payments). You can layer up to reduce heating costs, but you can only go so far. By contrast, […]
Obtaining a legitimate college degree is an expensive proposition. Many will be paying off student loans — month after month, year after year — for decades. With smart financial management, graduates can liquidate their college debt in a reasonable time, freeing up cash for other priorities. Here are four tips for paying off loans quickly […]
When a pet disappears, owners can become distraught, calling animal shelters, advertising in local papers, posting photos on every telephone pole and fence post all in the hope of hearing news of their lost animal. At such times, pet owners are also more vulnerable to fraud. Consider the following scenarios: The truck passerby: You get a […]
Often if you are in dire need for money the most tempting area to look is your IRA, 401(k), and other qualified retirement accounts. These funds, set aside for your retirement, may seem to be the answer to your financial woes. But is it a good idea to tap into these funds prior to reaching […]
Building a nest egg to give you a secure financial future doesn’t require a degree in economics, just a degree of common sense. The rules are easy and time-tested, and the smart players always abide by them. 1. It’s never too late or too early to start. Think back five or ten years and say to […]