Category: Financial & Investment Tips
Robert Kiyosaki Gives Readers a Second Chance
Over the years, I haven’t been too kind to the best-selling author, Robert Kiyosaki. He’s certainly built a successful empire, and a large community people respect him for his business acumen, his willingness to try or to appear to try to help others, and his advice. However, I’ve always found his advice thin at best and dangerous at worst. I received his latest book, Second Chance: For Your Money, Your Life, and Our World, and before opening the book to the first page, I decided to give Kiyosaki his own second chance — and read the book with an open mind. His publisher probably didn’t read my previous commentary before offering to send me a copy for review. I read the entire
New 529A Plans Help Disabled People Save Tax-Free
Now that the government backed down on its proposed changes to 529 plans for future education expenses, we can expect the same tax benefits present for education to be applied to families and individuals who face expenses caring for disabled people. Families will be able to deposit funds into special savings accounts, called 529As, and earnings in these accounts will grow and can be withdrawn without any tax consequences. The annual contribution limit will start at $14,000, linked to the amount of the gift tax exclusion, and accounts can grow to $100,000 without being counted against qualification for Social Security benefits. The actual account maximum will be defined within each state’s regulations. As long as the money withdrawn will be used to pay for qualified expenses, like
Debt Is Not Forever
Debt Is Not Forever is a post from: Faithful With A Few. If you enjoy it, please subscribe to the Feed.I have talked to hundreds of people about the topic of debt and their plans to pay it off. The one thing that I have found is common among most of them (probably 95{7dabfd103aa443fce219eea47f0f346a11a54ce587a1a0cbb74f06b9f7a304ca}) is the belief that they will be in debt until they die, and all they can do for now is manage it.I cringe every time I hear that type of thinking, because it implies that you are fine with living as a slave to your creditors with no hope of escape!Debt Is Not ForeverMy wife and I have been greatly impacted by our debt. I know what it’s like
5 Questions Before Applying for a New Credit Card
Since the credit crunch in the midst of the latest recession, credit card solicitations have seen a significant increase. Unless you’ve opted out, and good luck with that, you’re probably getting junk mail from credit card issuers with invitations to apply for the latest credit card offers. Don’t get too excited, especially if you have bad credit and are seeing these invitations for the first time. The letter might say you’re pre-approved, but all that means is that you are pre-approved to apply. It’s highly rare that an issuer will run your credit and then send you an invitation to apply. In fact, it’s nearly impossible. Even if you’re at a bank branch like Wells Fargo and Chase,
401(k) Contribution Limits for 2015
There’s some good news for American taxpayers this year. First of all, it was recently announced that President Obama would not seek a reduction in tax benefits for those who invest in 529 plans for saving for their kids’ education. Even though it is the wealthy who benefit from this tax break, it is still represents a potential for middle class tax savings, and a reduction in benefit was a bad idea. 401(k) plans are the primary retirement savings vehicle for the middle class, particularly as more employers enroll new employees automatically in the plans. And for those who have the ability to maximize their contribution each year, the new calendar year offers an additional opportunity. In 2014, the IRS did not adjust the maximum contribution from the
Raise Money-Smart Kids: The Opposite of Spoiled, by Ron Lieber
I can’t claim to be an expert on raising children. In fact, this is one of many, many topics about which I am not an expert. I do not have children of my own, and my observations of my friends and their children are limited. My experience comes from my memory as a child being raised by my parents. To be honest, I have no idea how my parents managed my development into a somewhat capable adult or what they were thinking at the time, even though I do have a younger brother and had the chance to do a little more observation. Ron Lieber’s new book, The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money (Harper, on sale February 3, 2015
How Your Positive Posse is Destroying You
One of the oft repeated mantras in leadership training is to surround yourself with people who understand you and support what you do. This philosophy translates well to people who need emotional support for any endeavor, even if one’s goal is to just keep living. Everybody needs support, and everybody needs to feel that someone is on their side. It’s easy to get overwhelmed by life, but when you have someone you can share your troubles with, someone who is empathetic to you and your situation, you have a strong advantage for survival. Entrepreneurs and business leaders often find that they have difficulty finding other people who relate to their particular flavor of struggle. And people who coach these entrepreneurs and business leaders believe strongly,
3 Ways To Keep God In The Center Of Your Financial Chaos
3 Ways To Keep God In The Center Of Your Financial Chaos is a post from: Faithful With A Few. If you enjoy it, please subscribe to the Feed.With the beginning of a new year, the internet is a-buzz with resolutions about saving money and getting out of debt. We have a few of our own goals, and since our savings challenge went well last year, we are doing it again this year with a few changes.As Christians, we share a lot on this site about finance from a Biblical perspective. We believe the Bible has answers for many of the financial situations people find themselves in, and that God’s desire is for us to have a healthy relationship with money as a resource
3 Old School Tips to Save on Heating Costs This Winter
3 Old School Tips to Save on Heating Costs This Winter is a post from: Faithful With A Few. If you enjoy it, please subscribe to the Feed.Before the days of the internet, where one could find out how to do just about anything, there were things that were passed on by tradition, word of mouth, and trial-and-error.As I think back, there were a few things people did in their homes to keep them warm in the colder months that I didn’t appreciate at the time. I mean, eh, I was young and wasn’t paying the electricity bill!Now that I am considering those energy costs, I am preparing to do some of these things I remember and just wanted to pass
How To Teach Your Kids About Money
How To Teach Your Kids About Money is a post from: Faithful With A Few. If you enjoy it, please subscribe to the Feed.Teaching kids about money can feel overwhelming since it can be such an emotional topic. But, starting early is a great way to ensure that your little ones get a head start on a healthy financial future.If you are stuck on ways to teach your kids about money, Low Income Financial Help has provided a few simple ideas to jog your creative juices:Ages 4-7Kids this young can learn about money. Keep it simple – For example, help them understand that when they want a toy or a snack from the store, it costs money. Help them learn about the importance of
