EP:64 Tax Refund Remorse

Rich for the Day

Tax Refund Remorse

After the much advertised delay in sending out refunds, it’s finally time.  In this week’s episode, the focus returns to that once a year so-called pay day that everyone gets all worked up about.  “The Tax Refund” Like a windfall, a breathe of fresh financial air.  Sometimes it’s spent in our minds 19 times before we even get it, just the idea of getting it. The tax refund is maybe one or two steps away from becoming a holiday, just so folks could have even more time to go spend some of that tax refund money.  The car dealers, creditors, retailers and anyone else that typically have slow January sales are all anxiously waiting as they know people are getting the refund checks.  Maybe there should at least be some slick moniker like “SupeR Black Friday” or maybe “GAAP Friday”.  Either way, there’s a lot of opportunity at this time of year for both making good moves or setting the stage for trouble during the rest of the tax year.

-Miles.

Learn To Earn w/ The Brown Report

Interview with Jason Brown of “The Brown Report”.

The Brown Report Logo
The Brown Report

In this episode, an interview with Jason Brown, investor, trader, instructor and developer of “The Brown Report”.  Jason goes over some of the differences in trading versus investing and how to get started based on your your money goals.  He explains how he got started in trading, investing and some of the ups and downs that come with the territory.  Jason explains how he came to develop several intense and focused courses based on his knowledge of investing and how it can be tailored to meet individual needs.

During the interview Jason sets aside the mystique, glamour and sometime hype about investing by digging right in to the nuts and bolts of getting started with investing and trading from the ground floor.  Besides offering entry level instruction and investor training, The Brown Report also offers advanced level trading strategies for those that find themselves wanting more.  He has a relaxed, confident approach that only comes following some real world experience and perseverance earned during trading in both up and down market cycles.  If you haven’t seen any of the ads for “The Brown Report” online or elsewhere, check it here at “The Brown Report” .

-Miles.

What’s up With Brexit? w/Camari Ellis

What’s up With Brexit? w/Camari Ellis

Seriously, What’s up With Brexit?

Financial Advisor Camari Ellis explains.

Britain Flag, EU Flag
Britain Flag, EU Flag

There are a lot of questions, concerns and just plain old curiosity surrounding the Brexit situation.  Following our own financial meltdown in the United States and all of the crazy things that followed ranging from job losses, to people literally walking away from their homes and mortgages to portfolios getting completely crushed.  People lost money like it was going out of style.  So what’s up with Brexit, is it something like that?  Will there be those sorts of residual problems?  News reports are talking about 401k’s and IRA’s potentially taking a hit.  What should someone do if anything right now?  Financial Advisor, Camari Elllis breaks down the Brexit, the EU, Euros and what you should consider before making any presumptuous money moves.

OR… Maybe there is a OPPORTUNITY presenting itself loud and clear, just yelling “Over here, now is the time!”  Remember Baron Rothschild, “buy when there is blood in the streets”.

-Miles.

 

2016 Max Out the Savings

2016 Max Out the Savings

2016 MAX OUT.

Overstuffed piggy

2016 is in full effect, and although there’s still some of last year lingering around for tallying taxes, earnings, dividends, losses, 2015 is still pretty much in the bag. Once you get the 1099’s out of the way you’ll have the hard figures on what you made saved and maybe lost.  2016 is the focus now, I usually give myself a month or even two to really iron out and commit to new year goals and so called resolutions. It takes about a couple of months just to be sure if the new goals are worthy, not too lofty and not too easy, no matter what they’re usually never too easy.

Slow and steady wins the race
Slow and steady wins the race

This year a new twist, targeting a savings or investment account and trying to MAX it OUT, through contributions of course.  Selecting a retirement account, education savings account or something similar and making the MAX contributions for the calendar year. Some folks this will come fairly easy, for the majority it’ll be a set it and forget it challenge and a few others will maybe need to put this challenge in perspective for their budget.  Regardless of budget, economic status and earnings it is fairly universally agreed everyone should be saving for a rainy day, cloudy at least.  That being considered, there are many avenues to save that pretty much applies to everyone in some way or another.  There are 401k’s, 403b’s, 457’s, Coverdell ESA’s, MMA’s, Government Savings Bonds, ROSA’s (Regular Old Savings Accounts), IRA’s, Roth IRA’s, Roth 401k’s, 529 Plans and the list goes on.  Thing is, most of these accounts have some sort of maximum amount you can contribute annually, primarily because the majority have some money saving features whether it’s through deferred taxes on contributions or tax free earnings on contributions. Whatever your flavor or purpose, you’re probably enrolled or have one of these set up someplace, at work or elsewhere.  When it comes to waiving of taxes on earnings or contributions, the government is involved to authorize that sort of thing, and they also put caps and limits, check out Retirement Plan limits and details for the most up to date and accurate information for plan limits and specific details.  Many folks never really hit the caps or limits set or even know they exist.  In today’s show, to kick off 2016 we’re focusing on identifying the limits and choosing one of these accounts to max out for 2016. Regardless of our budget, we’re going to figure a way to MAX OUT for 2016.

 

-Miles.

Right Now Segment. Retirement Saving

Right Now Segment. Retirement Saving

New Ways To Save for Retirement. Right NOW.

New Ways to do Old Things
New Ways to do Old Things

During this Right NOW Segment, I discuss a new and exciting opportunity to save for retirement even if you do not work someplace where your employer offer a traditional retirement plan such as 401k or 403b.  Retirement Saving is key to financial wellness, now both individuals and employers can help setup a plan that is of no cost to the employer, allows direct deposits with no fees or management costs and is transferable from employer to employer.  A new, safe way to save and earn interest with no fees! Retirement Saving is available for even more people that want to save. Check out The Newest Thing in Retirement Plans to find out how you can get started Right NOW for Retirement Saving.

It's a "This" plus "That" Retirement plan.
It’s a “This” plus “That” Retirement plan.

-Miles.