When to Rent a Home Instead of Buying

The Federal Reserve found that in 2016 the median homeowner's net worth was $231,400 while the average renter's net worth was $5,200. Certainly, it makes sense for your long term wealth for you to ultimately be a homeowner. However, sometimes you should rent a home instead of buying one. If you move to an area …

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Opportunity Zone Investing

If you have capital gains you may want to consider how investing those gains in an Opportunity Zone could save you taxes.  Also, investing in an Opportunity Zone Fund could be a great tax-advantage investment in and of itself.  Finally, you may be doing good for the country because you are investing in an area …

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Starting a Business Series: Gross vs. Net Income

Who cares about what you make, it's all about what you keep. It is far too common for business owners to focus on Gross Income vs. Net Income.  This makes owners feel better when their Net Income is not good.  It also pushes people into the mindset of focusing on making that next sale or …

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Starting a Business Series: Choosing an Entity Type

When you start a business you must decide what type of entity you will be at first. You have many options and they can be overwhelming. I am going to make it very simple for you. Most business owners start with the question of whether they should be an LLC, or not. There is a …

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Should Parents Pay For Their Kid’s College?

Do you believe parents should pay for their kid's college?  A lot of parents believe that they should.  There are also a lot of parents that believe if their kid goes to college they are on their own to pay for it.  Let's first look at who I think shouldn't. If you are in Financial …

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Highlights from Warren Buffet’s Annual Letter

Each year, we all (or at least I) eagerly anticipate Warren Buffet's Annual Letter to Shareholders. It's such an awesome read in so many ways! Not only does it give a great summary of what happened over the past year at Berkshire but it also provides amazing financial advice, a good read on the economy …

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Calculate Your Net Worth Quarterly

I believe you should calculate your personal net worth quarterly.  When you calculate your net worth, you are acknowledging where you are financially.  When you re-calculate it, you are coming face-to-face with how you are doing in improving your finances. As you begin to track your net worth over time you will realize how you …

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Focus on Your Balance Sheet

Visit the full post to hear the Podcast! You will more often hear people talk about how much money they make (aka, their income) than you will hear those same people talk about their net worth.  These are very different things.  You should focus on your personal net worth versus how much money you bring …

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