Reader's Choice

for less tax

Latest Post

Frugal living. Pennies from heaven.

31 Frugal Tips and Tricks

Frugality is the animal that must be bred to achieve financial goals. There is no amount of income that can’t be spent, and then some. If you don’t believe that, take a long look at the U.S. government to get a view of an amount of money that can be spent with ideas to spend more.

The seed of wealth is the money you didn’t spend and instead invested. That is the only course in building a steady stream of income to enjoy the life you want. 

The investment isn’t the problem; the seed is. You can generate a generous income stream from real estate, index funds or a business. In each case it is the excess cash you didn’t spend that is the seed that grows to satisfy your dreams.

The more frugal the lifestyle, the less you need to retire. 

Image a man with a million dollars invested. Is he rich? Could he retire? Well, the questions are impossible to answer. If he spends $300,000 per year the million isn’t so much. If he spends under $40,000, he qualifies under the 4% rule to retire because he is unlikely to ever deplete his nest egg. 

Random Post

IMG_20180113_153037

Should I Prepare My Own Taxes?

There is nothing wrong with doing your own return to the best of your ability and then hiring a tax pro for the return you will file. (Read the last sentence again and again until it sinks in.) Yes, you might have two prep fees for the year: one for the DIY program (required when you print) and the accountant. But you will also see where you missed things.

An alternative is to hire a tax pro when you have a unique issue and then go back to preparing your return for a couple years. Some accountants hate this. I don’t.

Popular Post

tradelines

Tradelines: The $1,000 an Hour Side Gig

Remember all those credit cards you acquired to earn out those bonuses and eventually canceled? You’re going to wish you hadn’t done that.

Credit cards are one of the most powerful wealthy building tools in existence today when used properly. They get a bad rap because irresponsible people rack up massive quantities of high interest debt and spend decades digging out if they ever get out. Still, credit cards can put a lot of ka-ching in your pocket if you understand the rules and never run a balance on the card.

If you are in the accumulation phase of your wealth building cycle, looking for a high income compared to the time invested or love gaming the system (your favorite accountant is guilty as charged), then you need to learn about tradelines.

As Seen On