If managing money were as easy as crunching some numbers and following a spending plan, we’d all be awesome at it. Money isn’t hard because of the math, it’s the psychology that trips us up. Our brains often work against us when it comes to financial decisions, but if you recognize these cognitive biases, you can overcome them. Find out what these cognitive biases...
Read More1. They’re self-made, at least those of them in the U.S.A. 2. They got started young (and made their money early). 3. They go where the money is. 4. They focused on technology…. 5. …Unless they made their money in finance. Click here to read the full article posted on www.Inc.com Bill Murphy Jr., Executive Editor The Mid.com and...
Read More1. Planning to stay in the family home 2. Counting on working in retirement 3. Banking on an inheritance 4. Not being emotionally ready 5. Not factoring the cost of downsizing 6. Borrowing against retirement 7. Bad asset allocation 8. Couple conflict 9. Not planning on a long-enough life 10. Avoiding death plans 11. Underestimating long-term care expenses 12....
Read MoreLet’s call these the nine sins of taxes. From deducting the wrong year for property taxes to claiming too much for the mortgage interest tax deduction, you’ll want to be aware of these common mistakes. Here is a quick list of the top nine, but you’ll want to click on the link below and read the full article. Deducting the wrong year for property...
Read MoreWhat Retirement Savings Do You Have to Report on the FAFSA? By Kaitlin Mulhere (Money on Time.com) Q. My husband and I have $350k in a brokerage account earmarked for retirement. It is not in an IRA or 401(k), even though it is intended for retirement. Do we need to report that on the FAFSA? If so, where? A. Retirement savings don’t have to be reported as an asset...
Read MoreHere is the down and dirty list on the best ways to avoid being audited by the IRS or the State, but we suggest you read the whole article by clicking on the link below. Keep receipts File your tax returns on time (even if you owe and can’t pay) Be aware of your industry averages and common expenses Attach additional statements and comments Avoid Schedule C...
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