Savings, CDs, Money Markets and Linked CDs
Many people ask me about savings accounts, money markets and CDs, and the latest version of CDs, market linked or index CDs: Q. Most financial experts say that we should accumulate 3 – 6 months of income or expenses in a safe savings account, for emergencies, such as job loss, uninsured damage to property or… Read More »
First Time Home Buyer Tips
Step 1: Get Your Financial House in Order Before you even think about the purchase of a home, look at your entire financial plan (talk to a financial planner and/or do your own plan using online software like eFinPLAN.com. The purchase of a house affects not only the amount of money you currently have in… Read More »
Christmas Micro Budgets
Shopping for Christmas gifts can surely be a budget buster. If you go shopping and do not have a list or calculated in advance how much you are going to spend on particular individuals, your emotions may get the best of you, and you will wake up with a massive debt hangover after the holidays…. Read More »
Morningstar’s New Fund Ratings
Morningstar Inc. known as a leader in providing mutual fund analysis for the investment community and consumers, recently introduced a new system. The well know star ratings of providing 1- 5 stars based upon mutual fund’s past performance, has been helpful to some people at evaluating mutual fund choices. Past performance is often no indication of future performance, but merely… Read More »
Tax Strategy Patents
Some providers of financial products and services, think that they have found or created a unique tax strategy and will submit that strategy for patent protection. Some believe that owning such a strategy provides them with market protection and potential income when others what to license their strategy. President Obama recently signed the America Invents Act (Public… Read More »
Mortgage Insurers Struggling
An article in The Wall Street Journal 11/15/11 about the Federal Housing Administration or FHA “Loan Backer’s Cash Runs Low” states that an audit being released today that FHA has close to a 50% chance of running out of money and require a tax-payer bailout. This follows the 10/23/11 news that PMI group the third largest mortgage insurer was taken over… Read More »
Tax Breaks for Special Education
The article Tax Report: Hidden Tax Deductions for Special Education, in the 11/13/11 Wall Street Journal highlights several tax breaks for students who fall into the “Special Needs Category.” This article is worth reading if you have special needs children in your family, or you do financial planning or tax preparation for those that do.
Used Car Cautions
Many people, particularly those wanting to drive a really nice car or wanting to appear successful are sometimes tempted to buy used luxury brand cars. If you don’t have a large savings account, or mechanical abilities to fix cars (or a good friend who does), never buy a used BMW, Mercedes, Jaguar, Land Rover, Audi, Saab, Porsche and Volvo or… Read More »
Feeling versus Spending
A good friend of mine suggested that I read or recommend the book “When Spending Takes the Place of Feeling,” by Karen O’Connor, she updated it “A Woman’s Place is in the Mall . . . And Other Lies” from Harvest House Publishers. For various reasons this friend of mine had a lot of emotional issues to… Read More »
Savings an Investment?
An article that was recently sent to me Saving, Spending Wisely are Investments from the Washington Post has some excellent information. However to add to that, many people think “I’m not going to save into a savings account, that earns nothing, I’m going to live my life and when I have a lot of money… Read More »
