Yesterday I attended a continuing professional education seminar with speakers from both the IRS and the State of New Jersey. Here are some highlights after all of the recent Federal changes and also many New Jersey changes that most people are not aware of: Your paycheck may be under withheld: After the new Federal […]
Investments
Does Money Really Matter? 3 Different Views
People tend to fall into 3 different categories of how they view money, which ultimately impacts how they manage it. How important should it be to you? Love of money/materialism: Thus is the most extreme view whereas you practically worship money. Earning more and obtaining more just to earn more and have more. It can […]
Why Everyone Should Start and Run a Business Even if it’s Just Part-Time and Temporary
Why should everyone start a business? Because it will completely change the way you see the world, view people, money, and everything else. Not to mention that it will humble you. Just to be clear, not everyone should be a business owner full-time or for the long-haul. However, by starting a part-time business or even […]
Cost of College = $1,000,000?
If it costs approximately $30,000 per year to attend college, although that figure can be much higher, then the cost of college for my children will be over $1,000,000 when the time comes, especially as rates keep on rising. In case you are wondering about the math, here it is: 7 children times $120,000 (for […]
Don’t Be Embarrassed if You Have Financial or Tax Problems
There is a stigma attached to having financial and tax problems, but it doesn’t have to be that way or it may make the problems worse. Sometimes these problems develop as you become more successful, which easily happens with both celebrities and business owners. Other times they develop due to a quick downturn in business, […]
Is a Franchise Right for You?
McDonald’s, Subway, and Chick-fil-A all have one thing in common – they are franchises with proven track records. But is a franchise right for you? Let’s look at the pros and cons: Pros: Proven model of business success: Established franchises have a proven model of success that makes it easier for you to be successful. […]
Don’t Sell Your House
Usually your first house is a “starter” home that you purchased because it fit into your budget at the time. A few years later you then sell your house, move up to a bigger home, and may even repeat this process several more times. But what if you didn’t sell your home and rented it […]
Don’t Make These Easily Avoided Financial Mistakes
We are all not perfect and everyone makes mistakes. However, the key is to avoid these financial mistakes as much as possible: Penny wise and dollar dumb: The actual expression is penny wise and pound foolish, but I still remember a partner from my first job saying this to a client (maybe it’s the American […]
9 Ways to Reduce Your Money Worries
When we lack money it creates a lot of stress and anxiety, and can be a source of tension in relationships. But how can we make our money work for us? Here are several ways we can take more control of our money to reduce our stresses: Change your thoughts: Reframe the way you think […]
Do You Have Too Many Financial Accounts?
How many financial accounts should you have both personally and for your business? These days it is so easy to open up accounts, but if there is no strategy for having a lot of accounts, then it can create unnecessary chaos and even increase your accounting and tax preparation costs. Let’s look at the pros […]