Archive - March 2012

1
5 Steps to Becoming a Better Investor
2
10 Facts You Need to Know About Mortgage Debt Forgiveness
3
How to Do More With Your Charitable Giving
4
Why It Matters How Your Advisor Is Paid
5
3 Things You Should Know About Consolidating Your Credit Card Debt

5 Steps to Becoming a Better Investor

It is challenging to find the right investment manager.  At a minimum, you want someone who is knowledgeable, ethical and takes the time to understand your goals and present situation.  Last week’s post on Greg Smith’s resignation from Goldman Sachs outlined some of the pitfalls you may experience with the wrong firm. 

While there is more to life than money, having enough of it when you need it most is extremely important.

The end goal of finding the right investment manager isn’t (or at least shouldn’t be) merely to amass piles of money.  It’s to form and adhere to a …

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10 Facts You Need to Know About Mortgage Debt Forgiveness

When you have a debt canceled, the IRS considers the canceled debt to be be income for you, taxable just like a paycheck.  There are cases where you don’t have to include all of it though, and mortgage debt forgiven between 2007 and 2012 may be partly excepted from being included as income.

The IRS recently issued their Tax Tip 2012-39, which lists 10 Key Points regarding mortgage debt forgiveness.  Below is the actual text of the Tip.

Mortgage Debt Forgiveness: 10 Key Points

Canceled debt is normally taxable to you, but there are exceptions.  One of those exceptions is …

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How to Do More With Your Charitable Giving

Does this sound familiar? December rolls around and your mailbox is full of solicitations from charities and non-profit organizations that need your money. You get busy with the holidays—parties, family, travel—and on December 31, you realize that you haven’t made any donations. You kick yourself but realize there is no way you’re going to get to it, and you resolve to be more proactive about your giving next year. Or, you scramble to write a bunch of checks, stuff them in their envelopes and drop them in the mailbox, hoping you didn’t forget anyone.

You haven’t kept track of what …

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Why It Matters How Your Advisor Is Paid

Who gives you financial advice? Why does it matter how he or she is paid? Because it’s probably the most important thing determining the quality of advice you receive.
The SEC and other agencies continue to debate the hotly contended “fiduciary responsibility” issue because billions of dollars are at stake, while the public is confused and underserved.

Can you answer these questions?

• What are the differences amongst brokers, insurance agents selling investment products and “financial advisors” (some regulated, some not)?
• What’s the difference between “fee-only” and “fee-based”? (hint: they sound alike but they’re quite different)..

Here’s a brief …

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3 Things You Should Know About Consolidating Your Credit Card Debt

Many card holders in America are slammed by credit card debt and the exploding debt continues to become a colossal. And these debt stricken consumers are finding it difficult to pay off the multiple credit card debts. In this situation, it will be beneficial to enroll in a debt consolidation program to manage and pay off your debts. Therefore, if you are not aware of debt consolidation program then this article will help you understand the entire consolidation process.

Know the basics of debt consolidation process:

Some credit cards have high interest rate so the accruing interest on the principal …

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