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Self-Disrupting

By Keith Taxguy / July 13, 2016 / 0 Comments

Some of the largest companies in the world did not exist a few decades ago. Amazon, Apple, and Microsoft are only a few of the organizations with massive market share, Microsoft and Apple with humble beginnings in the 1970s and Amazon gaining life in the 1990s. Each is a leader in their industry. It is hard to imagine the world without the retailing genius of Jeff Bezos. The way we shop, work, play, invest, read, and think have all been radically altered in the last few years by companies with vision. And a secret weapon to put them in front and keep them there.

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Lessons Learned, Part One

By Keith Taxguy / July 12, 2016 / 2 Comments

I started this blog to share stories from my side of the desk. Doctors, attorneys, and accountants hear all the good stories. The insights I could provide my readers would prove valuable in their lives as they work toward financial independence. Reinventing the wheel is a poor use of time. Learning from the experiences of others is how we grow personally. Sharing stories and ideas were to help you, the reader. What I discovered is I am also learning a lot along the way.

Recent events highlight the difficulty business owner’s face on a regular basis. I see it with business clients all day long; now it was my turn. I screwed up bad. I handled an employee who went off the rails about as bad as any employer could. It is too easy to pass blame to my office manager or to assume the employee is bad. Sometimes the issues come out of the blue; this event festered for a month and a half before I took action—the wrong action.

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I’ll Show You Mine If You Show Me Yours

By Keith Taxguy / July 11, 2016 / 2 Comments

One of the all-time great pleasures people receive from reading personal finance blogs is stalking the blogger. For some reason peeps want to know what the heck we are spending our money on. Who am I to upset the apple cart? Stalk away.

Below is a table showing my spending for 2015. I know, I know, you expected this months ago. All I can say is: Better late than never, you little stalker, you. My obsessive-compulsive way of recording stuff in my life allows me to break down my spending patterns for you. There were a few surprises when I reviewed the numbers. I will provide some explanations after the table.

In the future I plan on listing my annual spending once per year only. My columns listed here are exactly how my personal records read, minus the description. The miscellaneous column catches a lot of stuff I could break out, but since most months have only minor miscellaneous spending, I elected to keep it simple.

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Lifestyles of the Rich and Stupid

By Keith Taxguy / July 8, 2016 / 4 Comments

The lottery is back in the news with promises of a rich reward for a very small number of people who randomly pick numbers matching the officially drawn numbers. The odds are hundreds of millions to one. But you can’t win if you don’t play. Just one ticket, one little ticket. A single dollar. Better buy two; make that three.

Lottery sales shy rocket when the jackpot rises to mega levels. The impossible odds are still just as bad when the jackpot is massive. The one question I don’t hear people asking is: If nobody won the last time they drew numbers and millions played, what chance do you have of winning?

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Using Debt Intelligently: Good Debt Versus Bad Debt

By Keith Taxguy / July 6, 2016 / 9 Comments

There should be no battle between good and bad debt. Debt is not good or bad in and of itself. Debt is a tool that can be used to simplify personal and business finances or can be used with reckless abandon. The internet is filled with advice on debt. In one corner is Dave Ramsey and his ilk claiming all debt is bad and should be avoided at all cost. In the other corner is Donald Trump and his “There is never too much debt” mantra. Only rarely is someone smart enough to discern between the two camps and provide appropriate advice on debt. Today your friendly Wealthy Accountant will be said smarty-pants.

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Perspective

By Keith Taxguy / July 5, 2016 / 3 Comments

Thousands of years ago humans had a more clearly defined role in society. When food ran low the men would gather for the hunt. They would leave camp for days, or even weeks, at a time. When the prey was caught, the men butchered the animal into carrying size pieces.

Back at camp the women tended the garden and gathered plants from the surrounding area. When the men returned the women scraped the hides and prepared it for clothing. The women also dried, salted, and prepared the food.

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Cut Your Electric Bill 80%

By Keith Taxguy / June 30, 2016 / 6 Comments

Utility bills left unattended can put a serious dent in your budget. There is good news. You can reduce your electric bill 80% or more in a few short steps. Heating, water, internet and other utility bills can also be reduced by massive amounts with a few tricks.

The old adage ‘A watched pot never boils” is an apt place to begin. Before you can reduce your utility bill you need to know how much energy you are consuming. I get invited to seminars periodically that promise massive energy savings. They offer a free meal and Mrs. Accountant and I are always up to learning something new when a free meal is involved. The seminars are all the same. They try to sell over-priced products, many of which will never work if you understand even a small amount of science.

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Occam’s Razor

By Keith Taxguy / June 29, 2016 / 4 Comments

Life is more complicated than it has to be. More moving parts do not mean better. Electric cars have one moving the part, the motor; whereas gasoline powered vehicles have several hundred moving parts. More moving parts mean more things can go wrong. When all things are equal, the machine with fewest moving parts that still gets the job done is usually the best choice. Electric cars will outperform old-fashioned gasoline engine vehicles on every front as electric vehicles are improved. Lots of explanations will be given as to why electric cars blow gasoline engines off the road, but the simplicity of an electric vehicle will be a significant reason for the lower costs and higher performance.

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