Author - Forrest Baumhover

1
Are You Ready To Be A Landlord? Five Questions You Need to Answer
2
Employee Benefits For Transitioning Personnel-Employee Stock Options
3
Financial Regulation Offices (by State)
4
The Difference Between a Financial Plan & Financial Planning
5
3 Reasons To Consider Hiring a Tax Professional

Are You Ready To Be A Landlord? Five Questions You Need to Answer

In the military, we face this decision more than most folks.  We buy a house because we intend to stay in it for a while.  We hope that we can hold it long enough to actually have prices rise over time, then either rent it or sell it for a profit.  Then life gets in the way.  We get an unexpected set of orders.  Exciting and nerve-wracking at the same time.  Career-enhancing, but life-altering.  As we get used to the new reality, we start to think:  “Am I ready to be a landlord?”

When real estate prices go down, sometimes …

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Employee Benefits For Transitioning Personnel-Employee Stock Options

There are many employer benefits that just aren’t available to servicemembers.  Before separating from service, it’s important to understand what types of benefits exist, and what impact they may have on our personal finances.  This article focuses on employee stock options, specifically:

  • What are stock options?
  • Why do stock options exist?
  • Why do employers offer employee  stock options?
  • What type of employee stock options are there?
  • Tax treatment of employee stock options
What is a stock option?

A stock option is simply a contract that allows you to purchase or sell shares of stock (usually in blocks of 100 shares), …

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Financial Regulation Offices (by State)

While the gossip of the moment is about the fiduciary standard, it’s important to realize that people can fall victim to bad financial advice, even from a fiduciary.  Most fee-only financial planners are registered as investment advisers.

Every registered investment advisor (RIA) is required to file form ADV, which contains a lot of information.  RIAs are also required to register with either a state regulatory office or the Securities & Exchange Commission.

These regulatory offices are responsible for ensuring that RIAs comply with federal and state laws.  They should also be your first checking point to ensure:

  • The person
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The Difference Between a Financial Plan & Financial Planning

I remember the first time I received a financial plan.  Actually, it was for my mother.  It was a while ago, before I decided to become a financial planner myself, and is probably one of the reasons why I did so.  My mother had inherited some money from my grandmother, and after a couple of years of waiting for the broker to do anything, we decided that we were going to move it.  I’d researched some financial planners in the area, and decided to work with an hourly financial planner we’d found.  For $800, she presented us with a beautifully …

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3 Reasons To Consider Hiring a Tax Professional

For a lot of military households, tax preparation is simple, straightforward, and free.  Every year, just collect the paperwork and head down to the VITA (Volunteer Income Tax Assistance) office, and the staff can help you do your taxes.  Or, if you’d rather do it on your own, you can either use a software provider such as TurboTax, or go to the IRS FreeFile website.  The IRS also has a link to find free state filing options, based upon certain eligibility criteria.

However, you often get what you pay for.  Over the course of your military career, you …

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