Estate Planning- Trusts

Key Considerations for Smooth Wealth Transfer Planning

Key Considerations for Smooth Wealth Transfer Planning. Components of a robust estate plan include a will, trusts, a power of attorney, and healthcare directives. A will specifies how your assets should be distributed upon your death. Trusts, which hold and manage assets on behalf of beneficiaries, can be tailored to meet specific needs, such as reducing estate taxes or providing for minor children. A power of attorney grants someone the authority to make financial and legal decisions on your behalf if you become incapacitated, while healthcare directives outline your medical treatment preferences.

5 Reasons Why People don’t get Rich… and How to be sure You do!

By Tim McMahon | July 2, 2010

by Mike Litman What did I learn about getting rich by interviewing over 51 self-made millionaires? While interviewing one famous self-made millionaire after another, I discovered many of the secrets that make them rich, while others continue to struggle. When you understand and do what self-made millionaires do, you get to become one of them. […]

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The absolute best place to invest!

By Tim McMahon | July 2, 2010

By Todd Williams If you ever thought for a moment that the stock market is a confusing place, you are absolutely correct! Understanding the market is like trying to predict which way the wind will blow two days from today on the planet Pluto! The reason why it is difficult to predict which way the […]

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The Story of a Father and Son

By Tim McMahon | July 2, 2010

Although I didn’t write this, and don’t know who did, it is a great story that I’d like to share with you.  Tim McMahon, editor A wealthy man and his son loved to collect rare works of art. They had everything in their collection, from Picasso to Raphael. They would often sit together and admire […]

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How to Download Net Worth Spreadsheet

By Tim McMahon | July 2, 2010

It is extremely helpful for individuals to know how much their total net worth is and how much you can expect it to grow (or shrink) based on your current income and expenses.

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The importance of Mortgage Pre-Qualification

By Tim McMahon | July 2, 2010

You might want to consider getting a basic idea of your own regarding how much you can afford before you make an appointment to see a lender. One general rule of thumb states that you can afford a home that is worth twice your annual income. In some cases, this may not be entirely accurate, however…

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Book Reviews

By Tim McMahon | July 2, 2010

Reviews of Empower Yourself! How to Achieve Unlimited Success and Make Your Kid a Millionaire: 11 Easy Ways Anyone Can Secure a Child’s Financial Future

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What to Ask Before Signing for a Mortgage

By Tim McMahon | July 2, 2010

Many homebuyers, especially first time homebuyers, are so excited and nervous at the prospect of purchasing a home that they sit in the lender’s office, glance over a ton of official looking paperwork, sign on the bottom line and never really give any consideration to what they should be asking the lender before they make that all important final step in the mortgage process.

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Empower Yourself!

By Tim McMahon | July 2, 2010

Can you Change Your Mind and Harness the power of your brain to Develop Unshakable Confidence, Tap into your hidden talents, create “instant Rapport” with strangers, eliminate procrastination, get more done with less effort?

Ralph Waldo Emerson said it this way, “Your own mind is a sacred enclosure into which nothing harmful can enter except by your promotion.” Or in other words, you are in control of your thoughts! You can change them if you know how!

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The Wealthy Buy Assets, the Poor Buy Liabilities, and the Middle Class Buy Liabilities Believing They Are Assets

By Tim McMahon | December 3, 2009

An asset puts money into your pocket while a liability takes money out of your pocket. Sounds simple enough but the wealthy know something the middle class do not.

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Why Would Anyone Pay $450 for a Black Credit Card?

By Tim McMahon | December 3, 2009

In these tough economic times, it seems almost inconceivable that anyone would actually pay $450 a year for a “Black” Credit Card. After all you can get all kinds of cards for no annual fee! But…

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Help! Our Mortgage Payment is Too High!

By Tim McMahon | December 3, 2009

I recently heard about a couple that needs financial help. They are in the real estate business and not surprisingly due to the real estate crash, their income has dropped significantly in the last two years from $10,000 a month to $5,700!

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Give the Gift of Wealth

By Lisa McMahon | December 1, 2009

This Christmas instead of giving your children or grandchildren mindless video games, or strange looking dolls called “Brats”,  why not give them something that will change their life for the better? I know that sounds a bit ambitious but in fact it is quite possible! As a matter of fact this kid’s game actually did […]

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