Author - Vid Ponnapalli, MS, CFP®, MPAS®,CRPC®

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3 Questions to Ask Yourself Before Buying a Home
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Six smart ways to manage sudden wealth
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What you need to know about Tesla Model 3 tax credits
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How to cover your Retirement healthcare costs
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Is your money locked up when you save for Retirement?

3 Questions to Ask Yourself Before Buying a Home

This article was originally published by Vid Ponnapalli on Kiplinger’s Wealth creation channel.

You found your “dream home,” fell in love and are ready to sign the contract. Not so fast.

This is a huge investment, and perhaps a long-term commitment. So, step back, and ask yourself: What, if anything, stands between you and your dream home?

Here are three questions you should ask yourself before you make an offer:

  1. Does this purchase fit well with your financial goals?

Financial goals are unique to each individual. For some, buying a dream home could be a top priority. For …

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Six smart ways to manage sudden wealth

A young partner in a start-up firm once asked me “What do you suggest I do with the money if my company is sold and I get a lump sum?” It made me think. Accordingly this blog post.

Occasionally, you may find yourself receiving a fortune: whether it is from the startup firm you have been part of, or as an inheritance from your Mom or Dad or Uncle or Aunt, or even from the lottery you won. This is indeed great and perhaps will help you to boost your overall financial wellbeing.

However, you now have to manage the …

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What you need to know about Tesla Model 3 tax credits

electric carElon Musk, CEO of Tesla announced Model 3 offer at a low price tag of $35,000. He says all you need is to put down a refundable $1,000 deposit and wait until sometime in 2017 to get your keys.

Uncle Sam says he offers you tax credits for owning an electric car. He says these credits are generous with a federal tax credit up to $7,500 and if you live in a state such as California, state tax credits up to $2,500.

Excited? Should you add all these up and say you are getting into a Tesla Model 3 by …

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How to cover your Retirement healthcare costs

“Health Care Costs for Couples in Retirement Rise to an estimated $245,000” claims a Fidelity Investments report. If you are approaching Retirement, this is an important financial concern that must be addressed. So, what do you do? How do you cover these expenses? Do you have a plan?

One solution:  Healthcare Savings Account (a.k.a. HSA)

For example, in the year 2016, a married couple at the age of 55 can save up to $7,750 per year and save paying taxes on the contribution. Such contributions can be invested, grow tax-free and can be withdrawn tax-free as well if used …

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Is your money locked up when you save for Retirement?

We hear all the time: Saving for Retirement is an important financial goal, and it has benefits, both financial and non-financial. Yet, I know few people who are concerned that saving for Retirement is locking up funds and that these funds are not accessible for other financial goals without penalties. This, in fact, is a myth.

For example, a young 27-year-old entrepreneur once asked me if she could use some of these funds towards down payment for her first home. A 40-year old mid-career professional wondered if he can use any of his Retirement money towards college costs for his …

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