Doctor, it hurts when I do this!

Doctor, it hurts when I do this. Do what? Pay Taxes! There is lots of talk today about the government’s new tax plan proposal. Current speculation ranges from tax breaks across the board to taxes that hurt the middle class to tax breaks just for the rich. I am here to tell you that whatever Read more about Doctor, it hurts when I do this![…]

Taxed Once, Taxed Twice… Social Security Ain’t So Nice!

By now you are used to all of the various deductions on your paycheck. Guaranteed you will have withholdings for Federal Income Tax, Social Security (FICA), Medicare (FICA), health insurance, possibly life and disability insurance and your 401k contributions. The Social Security deduction under the FICA umbrella is a tax that you pay every week Read more about Taxed Once, Taxed Twice… Social Security Ain’t So Nice![…]

Life lessons you can learn from Indiana Jones.

Let’s go back to 1989. The blockbuster, Indiana Jones and the Last Crusades is in theaters and is entertaining millions. In the movie, Indy and the bad guys are searching for the Holy Grail which will grant immortality to those who drink from it. Indy gets captured and is forced to pass a series of Read more about Life lessons you can learn from Indiana Jones.[…]

Jeopardy, Double Jeopardy and Double Taxation!

Bear with me while I tie a few things together… The game show “Jeopardy” has been around since the 1960’s. It wasn’t until I was much older that I began to appreciate the show for what it is and what it isn’t. I am amazed at the amount of obscure trivia that the contestants knew Read more about Jeopardy, Double Jeopardy and Double Taxation![…]

Hocus Pocus, Poof! The Tax Savings Disappear!

I for one do not believe that qualified retirement plans are all that they profess to be. They are surrounded by ever changing, complicated rules that turn out to be very costly. I don’t believe all of the rhetoric about tax savings. Someone is going to be taxed on this money. If not you, then Read more about Hocus Pocus, Poof! The Tax Savings Disappear![…]

Handwriting on the Wall

The government knows that it is between a rock and a hard place on the issue of Social Security. The dire financial situation of Medicare, Medicaid and the US Postal Service isn’t helping the situation. In 2016 the US Government spent $19 Trillion dollars. Roughly 49% of that $19 Trillion dollars was spent on social Read more about Handwriting on the Wall[…]

Inflation: Life’s Stealth Bomber

Every day you can see the impact of increased prices on your income, assets, and standard of living. Prices for food, clothing, appliances, energy, automobiles, prescription drugs, and health care have soared. The increase in the price of these expenditures is called inflation. People generally cope with inflation by finding ways to increase income or Read more about Inflation: Life’s Stealth Bomber[…]

How Dare You Think That You are Entitled to Social Security!

If you are in the work force, then you are paying taxes.  One of those taxes is for OASI – Old Age and Survivors Insurance, but you probably have never heard of that.  Another name for OASI is Social Security. Since you are in the workforce and paying social security taxes, you are probably under Read more about How Dare You Think That You are Entitled to Social Security![…]

Imagine Being a Business Owner and You Cannot Pay Yourself – Because the Law Says So!

Let me give you a scenario… suppose that on the way to the office tomorrow morning you were in a very bad auto accident in which your leg was fractured in multiple places and your doctors tell you it will be at least six months before you can return to work.  Would you continue to Read more about Imagine Being a Business Owner and You Cannot Pay Yourself – Because the Law Says So![…]

You are well diversified… Aren’t You?

If you follow the thoughts and practices of traditional financial planning theory, then most likely not!  It is simply overlooked. Diversification is easy to explain and the reasoning behind it is sound.  Diversification means different things to different people.  To some, it is different asset classes in mutual funds – Large Cap Growth, Small Cap Read more about You are well diversified… Aren’t You?[…]