Author - Richard T. Feight, CFP®

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3 Mistakes Small Business Owners Should Avoid
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Managing Your Finances During a Divorce
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Using Stock Losses to Lower Your Tax Payments
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5 Tips For Getting the Trip You Want Without Breaking the Bank
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Top 10 Mistakes Investors Make With Their 401ks

3 Mistakes Small Business Owners Should Avoid

Small business owners are in a different situation when it comes to money. They have to be more careful with their finances because income can be unpredictable to say the least. A client of mine that owns a business decided to cut back on his own hours instead of laying off some of his very qualified staff. That’s the mentality of a smart business owner in tough times.

Another client of mine, who started a business spends his spare time running the business to keeping his overhead low and make ends meet.

Regardless of how you are maintaining your small …

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Managing Your Finances During a Divorce

Money could be considered the greatest cause of Divorce. In fact, there are some studies that suggest that how ofter a couple argue about money could predict their likelihood of divorce. Once you’ve reached the point where you are going through a divorce, your finances will suffer as your assets are split in half. What you do after the divorce will lay the foundation of your finances. There are a few things you can do to make sure that you aren’t overwhelmed, and keep your head above water.

  1. Be Conscious of Asset Division – Not all assets are considered equal.
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Using Stock Losses to Lower Your Tax Payments

Article in Summary:

  • By selling for a loss, you can offset future gains, up to $3,000 worth of ordinary income each year.
  • This procedure is called Tax Loss Harvesting

The other day a prospect came to my office who was looking for someone to help him manage his nest egg as he prepared for retirement.  He was expecting a windfall after he sold his business of around 1 million dollars. Couple that with his current nest egg of $1.5 million, he was looking forward to a nice income in retirement. But one thing puzzled me: he had $200,000 in 2008 …

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5 Tips For Getting the Trip You Want Without Breaking the Bank

Well, maybe not exactly a dime, but you’d be surprised how a little determination, and a little legwork, can lead to world travel.

My wife and I love to travel. In my years as a financial planner I’ve never ran across someone that did NOT want to travel in retirement. My first point to that is, why wait? My second point is, learn to travel on a dime.

The beauty of traveling frugally is that you can easily make it more, or less extravagant, depending on your taste. But I’ve also never had anyone say “I would not stay

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Top 10 Mistakes Investors Make With Their 401ks

Over the years you begin to see a pattern of mistakes that people make with their 401ks. Considering that upwards of 66% of current workers retirement income will come from their savings, I’m amazed that people don’t pay more attention. So here goes… the top 10 mistakes I see people make in 401ks or 403bs:

  1. They pick a bunch of funds when they get started, and never revisit, re-balance, or alter their holdings in any way from thence forward. Out of sight, out of mind.
  2. They choose to invest in the top performing funds available at the time of their
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