When it comes to saving money for your child, you have several options to choose from.   Depending on what you are trying to accomplish will help you decide what option is the best for you.  Do you want it to be solely used for college?  Do you want the child to assume right to the money then they reach 18?  Do you want tax deferral? For parents that college isn’t the primary focus and they don’t mind if the kids gets control of the the money when they become a legal adult, then...

This is fantastic guest post by Omie Ismall who shares his experience as successful entrepreneur. Looking to create your own start-up company from scratch? If so, read this and take notes. photo credit: Infusionsoft Some years ago, I sat down with one of my Board members to discuss my next year’s compensation.  He said something that still sticks with me to this day, “You know, your salary doesn’t matter because you’ll never build real wealth from it” I dismissed the thought.  Aft...

One year ago, on March 9, 2009, the stock market began a rally that has led to a total return of 72% for the S&P 500, through the end of last week. As we reach this anniversary it is worth taking a look back at the powerful rally that has unfolded and seek clues as to what may lie ahead as the rally reaches a mature stage. photo credit: Lilmsmrtas The stock market rebound has been broad and ranged across all sectors, sizes, and regions of the globe. Even the troubled stock market in Greece...

Are you a self-employed business owner that is looking for a cost effective to lower your taxes and help you save for retirement?  If that fits your profile then opening a SEP (Simplified Employee Pension) IRA might be a good retirement account to start for your business. photo credit: khowaga1 When I was researching what would be the best retirement plan to set up for myself when I first became self-employed, I narrowed it down between the SEP IRA and the Solo 401k.  Both allowed very favor...

With the completion of our new home, the realization of how much “stuff” we had to move to our new house sent chills down our spine. We’ve been in our first home for just under five years and I’m amazed on how much junk we accumulated over the years. My wife and I had enough stuff just by ourselves; but then you add our son, who has more toys at the age of 2 than I did for my entire childhood- and what you have is a garage sale junkie’s dream. Back it up. it&...

I have many reasons in my life to be thankful, but for the purpose of this post I have two major reasons to be blessed: I have an awesome family. I have a truly talented best friend who takes great pictures of my awesome family. My best friend, Jason York of Jason York Photography, paid a recent visit to the Rose household to capture us with our latest addition, Bentley.  Enclosed are some of our favorites, although there wasn’t one picture that we did not like.  And no, this is not a...

This is a another guest contribution by Miranda Marquit. If you are self-employed, it can be a good idea to make quarterly estimated tax payments. Making regular tax payments can help you avoid paying interest penalties, and it can shield you from the hardships associated with a large tax bill once a year. Others who should consider making quarterly estimated tax payments include investors and landlords whose tax withholding from a regular job may not be enough to cover the full amount of your t...

Groundhog Day came late in February for the stock market. Last Thursday’s worsening weekly unemployment claims data spooked stock market investors worried about job growth as February winter storms negatively impacted the data. In that labor report, the stock market saw its shadow and it appears that investors are in for six more weeks of winter weather affected reports contributing to stock market volatility. photo credit: r9M Everything from retail sales to manufacturing to the job market ...

How do you define success?  Success can come from many aspects: life, career, family.  Often I get asked how I became a financial advisor and what has led to my success. When someone views me as successful, I’m always flattered.  While I do consider myself to be successful, I’m also very humble. By industry standards, I’m just a pea. I’m not a rainmaker, not a million dollar producer, not one of Forbes Top 100 financial advisors. I don’t have hundreds of millions...

We all get busy and let the “little things” slip through the crack sometimes. This, however, wasn’t a little thing.  In the hustle and bustle of the holidays, building a new home, a second child on the way (and now here) a “little” bill was overlooked and wasn’t paid.  This wasn’t my Direct TV bill or the electricity bill..  It was my annual premium for my 30 year term life insurance policy! (gasp).   A month had passed before I realized that my ins...

The municipal bond market, as measured by the Barclays Municipal Bond Index, has moved along at a slow and steady pace this year in contrast to the gyrations in the taxable market. Recent market action harkens back to years gone by when the municipal bond market was known as the “quiet” bond market. Taxable bonds would garner the bulk of media attention and municipal bond price movements were much less volatile and newsworthy than those of their taxable counterparts. Of course, the financial...

The jump from W-2 employee to self-employed is one that many don’t dare cross.  There are many risks and challenges as a business owner and at top of the list is having to provide your own health insurance coverage.  I was fortunate (somewhat) in that when I started my investment firm, my parent company LPL Financial was one of the few independent brokerage firms that offered a group health insurance plan.  I was able to get health insurance, albeit at 4 times the price that I was payin...

On Friday, the S&P 500 was up 5% from its low for the year on February 8. From January 19 to February 8, the index fell about 8%. Since then, it has recovered more than half of the losses and is now essentially unchanged for the year. The volatility and classic 5-10% pullback we have seen this year is perfectly normal and very likely to be a recurring pattern in 2010. photo credit: Doc Trader We have often commented that stock market pullbacks of 5-10% are very common and have accompanied ...

This is a guest post by Carrie Davis who is a personal finance blogger at SpendOnLife.com. Some cases of identity theft are pretty minor. Maybe you notice a couple transactions you didn’t make on your credit card statement, and a quick call to your bank about the fraud resolves the issue. But other forms of identity theft can be a nightmare to recover from, and can wreck your credit score in the process. Here’s how it happens. photo credit: TheTruthAbout… Personal identifying infor...

Tax time is here again and this is the year that you don’t wait till the last minute to file your taxes, right?…..Right? Remember what happens when you don’t file your taxes or file late?  If it has become a burdensome chore trying to file your own taxes, it might be time to hire a tax professional. Tax Documents Galore! Three years ago, I hired a CPA (Certified Public Accountant) to help me with my taxes and it was one of the BEST decisions of my life.  After sitting do...

Tax time is coming!  Now is the time of the year when you start getting all your tax documents in order and either start calling your accountant or fire up Turbo Tax to get it done before the deadline.   One of the most common tax documents that everyone receives is the 1099.  Most everyone has heard of or receives a 1099, but; did you know that there are 13 different types of them?  Here’s a brief rundown of the different types of 1099’s and which one(s) may apply to you. pho...

Earlier this month, the White House played the role of a NFL punter and punted the issue of what to do with Fannie Mae and Freddie Mac far downfield. In fact, maybe the next fi eld over. Bond investors had eagerly awaited details regarding the future of Fannie Mae and Freddie Mac, which together, stand behind almost 40% of the outstanding bonds in the Investment-Grade U.S. Bond market, as measured by the Barclays Aggregate Bond Index. In September 2009 the Treasury stated that recommendations on...

The reverse mortgage has become one of the more popular retirement planning tools in recent years. Reverse mortgages are sought after because they can provide an income source for retirees who have built up a great deal of equity in their homes. However, before you decide to take the plunge with a reverse mortgage, you should carefully consider your options. Here are 8 things you need to know about reverse mortgages: photo credit: Rain Rannu A reverse mortgage is a loan: Realize that a revers...

This is a guest post by JoeTaxpayer. With the tax deadline quickly approaching, I asked Joe to share the steps and reasoning that one would need to file an extension.  As a reminder, here’s what happens when you file your tax return late or not at all. How To File a Tax Extension You’ve just been busy, I know, me too. Your hard drive crashed and you need to gather up your notes and all your stock transactions. Your aunt in New Jersey passed away, and suddenly April 14th is here, no...

You’ve been working with a financial advisor for some time now, but now you’re starting to have doubts that you hired the right person for the job (Hopefully, you did a background check on them first).  Is that financial planner more interested in helping you achieve your financial dream or just trying to sell you something? Trump would have no promlem firing a bad financial advisor Too often people have handed their money over to a financial advisor without researching whether...