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.
Dream Car

Seven Tricks to Get Your Dream Car

By Tim McMahon | March 28, 2016

You don’t have to wait forever to get the car you’ve always wanted. With a few basic steps, you can soon be enjoying the ride of your life. All it takes is a plan and a little perseverance. Follow these tips for success when searching for the car of your dreams.

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5 Simple Steps to Take Control Of Your Financial Future

By Tim McMahon | March 11, 2016

It seems obvious that everyone wants to have a strong stable financial future. But wanting and getting are two different things. Fortunately (or unfortunately as the case may be) the decisions that we make early in life can affect how much wealth we develop later on. To take control of your financial future, here are a few simple steps that you can take to drastically increase your chances for success.

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Tax Season Tricks to Get the Best Return

By Tim McMahon | March 3, 2016

Most people dread the process of filing their taxes. But maximizing your return with a few minor tweaks in the way you file could take a bit of the anxiety out of the process. Reevaluating your W-4, reconsidering your filing status, and claiming the earned income tax credit are just a few ways you can get the biggest return possible on your income taxes. So, stop dreading filing your taxes and start looking forward to a big return by following these simple tips.

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Financial Survival for Seniors

By Tim McMahon | February 26, 2016

Financial health plays a crucial role in the quality of life for aging Seniors. How we spend these years depends, in a large part, on the financial foundation we lay during our active employment years. Although many people find their resources dwindling as they move into retirement, and find Social Security inadequate to cover all our expenses, there are several steps that you can take to effectively finance your golden years.

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Four Ways to Maximize your Family Business’ Efficiency

By Tim McMahon | February 23, 2016

Today is an exciting time in business, and it’s easier than ever to get out there and offer your products and services. However, since the advent of the internet, there’s also more competition now than there ever was before. Not only do you have to keep up with local competitors, but you also have to […]

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Avoiding Medical Overcharges, Errors and Extortion

By Tim McMahon | February 22, 2016

Even with insurance, medical bills can take a huge bite out of your wallet due to deductibles and co-pays. That is why it’s important to carefully analyze your bill for errors, overcharges and just plain extortion. Medical Bill Overcharges are extremely common,  recently I heard a case where a woman was in the hospital for […]

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Tips to Boost Your Credit Score

By Guest Author | February 3, 2016

Many people are oblivious to the importance of a good credit score until the need arises… at which point it is too late. The awakening could come when you have to move out of a parent’s basement, or take out a loan for a car or startup. The tricky part about boosting your credit score is it doesn’t come overnight, or even after a few months. You have to plan strategically and build up your finances over time. Boost your credit score incrementally using these three simple tips.

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Hidden Write-Offs You Shouldn’t Forget in Your Taxes This Year

By Guest Author | February 2, 2016

For most taxpayers, reducing their annual tax burden is a major financial goal. According to the Internal Revenue Service, millions of Americans claim deductions on their taxes every year. Some examples of popular deductions include real estate taxes, home mortgage interest, charitable gifts, and local taxes. However, many taxpayers overlook a number of tax write-offs that could make a significant impact on their tax burden. Where applicable, consider applying the following tax deductions to your return this year.

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Top 10 Cities for 1st Time Home Buyers and Retirees

By Tim McMahon | February 1, 2016

Recently “The Money Source” decided to mine their database of home loan applications and choose their top 10 cities for first time home buyers. Of course every list like this is somewhat subjective and depends a lot on what criteria they used for their decisions. But when it comes to first time home buyers obviously low cost real estate is going to be a major priority. Another key factor will be a healthy local economy that provides plentiful job opportunities. But in addition to just financial factors choosing a location to relocate to also involves ascetics i.e things to do, places to go, and people to see.

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How to Get Your Finances in Order Before Moving Internationally

By Guest Author | January 29, 2016

Have you ever considered moving internationally? In recent years many retirees have found that there are many places around the world that provide a peaceful, welcoming environment at a much lower cost than if they stayed at home.

If you’re considering moving overseas, then your first order of business should be getting your finances in order. You may think that packing and finding movers is at the top of your priorities, but the fact is that you can run into serious problems in your new home if the money is not in order. It’s best to tend to these issues now so that you can avoid problems when you’re trying to get settled in to your new environment.

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Retirement Funds: Smart Investments for Beginners

By Guest Author | January 28, 2016

Most people experience some level of fear when trying something new. And if that new thing has to do with your finances, it can seem daunting and risky. This is often the case when you first begin investing for retirement. How much you should you invest? What if you need the money before you retire? What should you invest in? How much is enough for a stable retired life? This article attempts to highlight some ways you can successfully wade through the murky waters of retirement investing.

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Budgeting for Wants Not Just Needs

By Guest Author | January 12, 2016

For many people, the idea of being on a budget is about as appealing as being on a strict diet. After-all who wants to cut out everything you enjoy? This not only sounds miserable it leads to unsuccessful budgeting for most people. The science of behavioral finance is gaining ground as a way of increasing financial well-being by creating a more reasonable approach to budgeting without the harsh cutbacks.

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