Monthly Archives: February 2011

Intermission

Posted on February 24, 2011 by

Continuing our series on stuff-I-can-scrounge-up-quickly-when-I-have-a-large-amount-of-non-blog-related-work-to-do, here is another interesting personal finance blog for your viewing pleasure: Thomas J. Stanley’s blog.  Most famous for his series on the Millionaire Next Door (the millionaires that don’t look rich), Dr. Stanley has made … Continue reading →

Posted in Intermission

Out-of-State Moves to New Jobs

Posted on February 23, 2011 by

So, there’s a friend-of-the-firm is moving out-of-state for a new job.  Isn’t that great?  Here are a few tips we gave her for her out-of-state move: Before you take that job, make certain that you aren’t reducing your lifestyle.  Take changes … Continue reading →

Posted in Uncategorized

Co-signing Loans

Posted on February 22, 2011 by

Do not co-sign on a loan unless you are ready to pay the entire loan.  No wait, this font-size isn’t emphatic enough. Do not co-sign on a loan unless you are ready to pay the entire loan. I cannot emphasize … Continue reading →

Posted in Credit

The Line Between Tax Advoidance and Tax Evasion…

Posted on February 21, 2011 by

is made out of chain link and topped with razor wire.  How do you make sure you’re on the non-orange jumpsuit side of the fence? Tax avoidance is an action taken to lessen tax liability and maximize after-tax income.  This … Continue reading →

Posted in Taxes

Tax Refunds from Chain Tax Preparers

Posted on February 18, 2011 by

So, let’s say you get your taxes done at one of the many tax preparation stores: how should you take your refund?  There are usually a few options*: Pay tax preparers directly, receive your refund when it comes:  This is … Continue reading →

Posted in Credit, Taxes

Can You Make It Through the Month?

Posted on February 17, 2011 by

From Urban Ministries of Durham, North Carolina comes a game meant to drive home the plight of the working poor, and encourage support of their relief efforts: Spent.  It’s a lot like the game of “Oregon Trail”.  As time passes … Continue reading →

Posted in Financial Planning, Income, Spending

The Dangers of Following Gurus

Posted on February 16, 2011 by

I happened on a fascinating exchange between Rick Kahler, CFP®, MS, ChFC, CCIM and YouTube followers of Dave Ramsey, and I think it’s an extremely instructive example of the dangers for blindly following gurus.  First, some background. For those who … Continue reading →

Posted in Financial Planning

Tax Credit: the Saver’s Credit

Posted on February 15, 2011 by

Did you know that you can get a tax credit for putting money away for your retirement?  You need to meet some requirements first, though (for 2010). Income limits: Single, Married and Filing Separately, and Qualified Widow(er): $27,750, Head of … Continue reading →

Posted in Taxes

A Perspective Change

Posted on February 14, 2011 by

From time to time I bounce up against the most interesting things.  One of these interesting things are attitudes about financial products.  Some people claim to have affection for their credit cards, to the point that their emotions become tumultuous … Continue reading →

Posted in Credit, Financial Planning, Insurance, Investments

Saving Takes More Than Time and Discipline

Posted on February 11, 2011 by

Lurking at the New York Times website, I read an opinion piece by Barbara Dafoe Whitehead, titled “Saving Takes Time and Discipline.”  You can go read it for yourself, it’s very brief.  The thesis is that the primary driver of savings … Continue reading →

Posted in Income, News, Spending

Cash Advances

Posted on February 10, 2011 by

They’re dangerous business, cash advances.  Have you read the terms and conditions of you credit card?  It’s worth it, especially if you’re going to take cash advances. So why check your terms and conditions?  Two reasons: First, many cards have … Continue reading →

Posted in Credit

Is The Sky Really Falling?

Posted on February 9, 2011 by

“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful.” – Warren … Continue reading →

Posted in Current Events

Biggest Financial Regret

Posted on February 8, 2011 by

One of the great things about two of my previous financial jobs was that I got to talk to a lot of work-a-day people about their money.  I was always fascinated to hear about their stories and opinions on money.  Their … Continue reading →

Posted in Financial Planning

IRS Free File

Posted on February 7, 2011 by

It that time of year, you’ve (hopefully) received all of your tax documents and are getting geared up to file your return.  But, how to file?  Why not use the IRS’s Free File?  If you have a 2010 AGI* of … Continue reading →

Posted in Taxes

How Marginal Tax Rates Work

Posted on February 4, 2011 by

Here’s something I overheard a few years ago that broke my heart. “I may as well not make more money, the government will just increase my tax rate so I’ll end up with less.” Taxes don’t work that way.*  To … Continue reading →

Posted in Taxes