Author - Troy Von Haefen, CFP®

1
Four Things You Should Do This Summer
2
The Market At A Record High: Now What?
3
Are You Asking The Right Financial Questions To Develop Wealth?
4
Taxes And The Value Of Your Time
5
When A Penny Makes A Difference

Four Things You Should Do This Summer

School’s out for summer!  Let the fun begin.  Lazy days at the pool, time with friends, sleeping in and staying up late are what lay ahead for the Von Haefen kids.

Summer is always a great time to slow down a bit, but sometimes we can just get downright complacent.  Here are few to-dos to keep your summer humming along smoothly…financially that is.

Update your Passwords

If you’re still using old passwords you set up years ago (you know….the ones easily cracked by your 8 year old neighbor), it might be time to make a change.   Privacy and protection is …

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The Market At A Record High: Now What?

This question has been one frequently asked by my clients and friends lately. What do we do now that the market is perched at a record high?  Do we buy into this rally, or do we sell out of it? This exposes the two emotions that can lead to failure with investing:  fear and greed.

Greed

I’m amazed how we tend to forget the pain of 2000-2002 and 2008-2009.  While we sit at record highs, the pains of yesterday seem to be a distant memory.  Greed is now peeking its ugly head around the corner once again.  I am hearing …

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Are You Asking The Right Financial Questions To Develop Wealth?

A prospective client walked into my office concerned about his portfolio and was seeking investment advice. The interesting fact was the investment question was not the right question. Investments were not the issue, and this is not uncommon.

While investments are the easy target for financial blame or success for that matter, investments are usually not the catalyst to wealth. Real wealth is created by managing financial elements that can be controlled, and the stock market certainly cannot be controlled. It’s more important to ask questions that will assist in wealth creation.

What questions should you be asking yourself?
1. …

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Taxes And The Value Of Your Time

I have written in the past about the value of fully utilizing all deductions when it comes to income tax preparation.  The IRS will certainly come after you if you don’t report all income, but the IRS will not hunt you down to let you know you missed a deduction.   It’s your responsibility to put forth the time and effort, but with that being said, I’m going to say something that may seem antithetical: Sometimes it’s not worth your time or energy.

Knowing where not to look

Not every deduction is worth your time and energy to substantiate and use.  …

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When A Penny Makes A Difference

Are you a business owner?  Are you an employee who drives a lot and is not reimbursed for mileage? Do you track your business mileage? If you don’t, you should!  Appropriately deducting mileage is a great way to save tax dollars and reduce the largest recurring expenses that we face: taxes.

The IRS recently announced the standard mileage rate that goes into effect January 2013. The new rate is 56.5 cents per mile, which is up a penny from 2012. While the penny increase will not make you rich, the habit of properly tracking business mileage could save you hundreds …

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