Archive - 2012

1
How Women Can Successfully Plan for Retirement
2
Why Your Emotions Could Be Your Worst Enemy When Investing
3
Here’s How You Know if You Need to File a Tax Return This Year
4
Here’s the Right Way to File Your 1099s
5
The 7 Ways You Can Build Wealth in 2012

How Women Can Successfully Plan for Retirement

Whether single, married, divorced, or widowed, women face a challenge in planning for retirement that can be summed up succinctly: need more, have less. Women, on average, live five years longer than men and also have less opportunity to earn and build wealth. According to the Women’s Institute for a Secure Retirement, a typical college-educated woman earns almost $500,000 less during her career than a college-educated man. Women also suspend or cut back on employment to care for elderly, ill, or disabled parents, siblings, or other family members.

Social Security benefits are computed over the span of a work life …

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Why Your Emotions Could Be Your Worst Enemy When Investing

Emotions trump smarts

Making good financial decisions can be difficult, even for very smart people. One reason is that most people make decisions based in large part on their own biases and the emotions they are experiencing at the time rather than analyzing the facts. In other words, their choices are based more on what they are feeling rather than what they know. However most decisions, especially financial ones based on emotions, often turn out to be the wrong ones.

The difference between theory and practice

Conventional financial theory assumes that people make financial decisions based upon rational rather …

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Here’s How You Know if You Need to File a Tax Return This Year

Have you ever wondered if it was actually necessary to file a tax return?  Perhaps your income is relatively low, and so you wonder if it’s really required of you to file a return.

Often it’s not entirely a case of a return being required, but rather it might be in your best interest to file a return in order to receive certain credits against your income.  Recently the IRS issued their TAX TIP 2012-02 which goes over some of the things you need to be aware of when considering if it’s necessary or in your best interest to file …

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Here’s the Right Way to File Your 1099s

Happy Happy Joy Joy….Happy Happy Joy Joy! Stick a hot poker in my eye, and you’ll understand my feelings about the reporting requirements for small business owners and the 1099. While I understand the concept and reasons for this reporting requirement, it’s simply a pain. Ok, I’ll get of my soapbox, stop complaining, and deliver the lowdown.

If you are a small business owner and pay an individual or business more than $600 in a year, you (the business owner) will need to send that business or individual a 1099. This reporting requirement is put in place to allow the …

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The 7 Ways You Can Build Wealth in 2012

I have been a big fan of these 7 steps to build wealth since I have been a Certified Financial Planner for over 26 years and have used them successfully with clients. You won’t find any get rich quick to make up your losses fast schemes here. You will find common sense, everyday action items that you can take to make a wealth building strategy for yourself and your family. Remember, it isn’t how much you earn but how much you keep. These steps will start with strong foundations which are steps 1 though step 3. Ignore these and you …

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