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The History of Polarized Politics in the U.S. and Money

By Keith Taxguy / October 15, 2018 / 13 Comments

In recent times we were told the U.S. was caput because  a womanizer like Clinton was president. Did anyone take the time to research Franklin and Jefferson? Caput! I think not!

Then Bush was a sign of the End Days. Nope! President George W. Bush proved to have human failing, but we did fine.

President Obama was the worst. I had clients who came into my office saying their life;s mission was to prevent Obama from getting a second term. What a waste of time! The economy grew, the stock market was up and America and the world did great after a serious economic debacle.

And now we have the hated President Trump. Many tears have been shed. The Supreme Court is forever tainted (unless you read few history books where you’ll discover it was always tainted). I’m not a fan of Trump. I disagree with many of his policies. But not all! An honest person will find issues where agreement exists. Who doesn’t like lower taxes? We can debate who gets how much and the fairness of taxes, but com’on! I also agree with more infrastructure spending. I’m against tariffs which are nothing more than a tax on consumers. Call it a quasi value added tax, if you will.

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The Best Conference on Money

By Keith Taxguy / October 8, 2018 / 7 Comments

Large conferences are hard to understand before attending first. FinCon has multiple cultures under one roof. Virtually every interest in the financial community is covered. Finding people with similar interests is easy. Finding sessions tailored to your goals is equally easy. So why did I fail the first year and sail the second?

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My Tax Plan If I Were President

By Keith Taxguy / September 17, 2018 / 14 Comments

If you’re reading this the day it’s published it means this is the due date for extensions for partnerships and corporations. If you work in a tax office and things are quiet you might want to consider another job. (This is an inside joke directed at a former employee who struck out on her own. If you need bookkeeping in Vegas I know a qualified person to handle that. Seriously.)

I thought today would be the perfect day for me to announce my candidacy for president with a few tax policies I’ll sign into law via executive order if elected. Some of you might be darn excited about this unwelcome event as you think I’m a Democrat. Other might be excited because they think I’m a Republican. The truth is I’m neither. I prefer to waffle between both side of the aisle or as the police call it: walking in a drunken stupor.

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How to be Admired and Have the Wealth You Want

By Keith Taxguy / August 30, 2018 / 5 Comments

Certain characteristics tend to show up again and again. If you admire people with money you might notice they tend towards frugality and index fund investing or own a business. You can emulate that easy enough. You might notice many travel and want to do the same. By following their example you increase the odds you will accumulate more resources to travel.

There is no guarantee you will get the same results. A person in prison will have limitations from the rest of the population. Nelson Mandela is a perfect example. He gained the respect of the guards and the people of a nation while imprisoned. He was fortunate that he was released and led South Africa for many years. Other people doing the same thing will almost certainly get a different result.

This blog is about wealth. It might depress you when I say you can search the traits of those you admire and incorporate those traits only to find less admiration than those you worked to emulate. That misses the whole point. Successful integration of quality traits do not guarantee anything and shouldn’t even be the goal! It is the daily effort to improve yourself with the traits you acquired that makes you wealthy.

The daily journey is the reward, the riches you seek. You can examine the admired of your community and work to integrate those positive traits into your persona. But please, kind readers, make plenty of room for you. Explore the qualities already inside you.

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Beat Procrastination and Get Rich by Taking a Break

By Keith Taxguy / August 23, 2018 / 25 Comments

It happens to all of us. A project gets on our desk and we stall out; a credit card bill needs to be challenged with the bank and we can’t get the energy to get it done; a book we really want to read sits on the night stand waiting for the day you actually crack the cover. Like I said, it happens to all of us.

As an accountant I feel overwhelm often. People don’t bring me the easy ones and the IRS doesn’t care about your schedule. They pay me for things that make mere mortals head’s explode. Generally I’m booked out 6-8 weeks, and any time I say yes to something or set an appointment within 6 weeks it means I subtract it from personal time. Then I stall out!

It isn’t the worst or most difficult tasks that cause my tires to spin. I eventually reach a point where fatigue sets in and if your file is in the wrong place at the wrong time (or I made too many commitments), it ends up on the hellish side of my desk where things don’t get done. I keep putting it off because opening the file creates visions of pain in my skull. When fate (a disgruntled client) pushes me to engage the task it usually is something much less involved than I thought.

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If You Love Spending Money This Will Make You Rich

By Keith Taxguy / August 20, 2018 / 10 Comments

“Should I feel guilty when spending money?” It’s a common question when I consult with clients. They are so tuned into frugality they sometimes start associating negative feelings with money. It’s a bad thing to start feeling.

Spending money is NOT an evil activity! In modern society we have it so easy that we tend to either overspend (the vast majority) or become hyper-frugal (a significant percentage of the demographic reading this blog). Both lifestyles are unhealthy. Overspending leads to serious problems when the bills come due and income might not keep up. Debt is a serious issue I ask clients (and readers) to consider purging. The opposite of overspending is the hyper-frugal drive. This can suck the pleasure out of life as fast as a heavy debt burden.

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The Day Jordan Peterson Schooled the FIRE Community

By Keith Taxguy / August 13, 2018 / 37 Comments

Most people familiar with Jordan Peterson and his work comes from the litany of YouTube videos. From college classroom lectures to podcasts to interviews, Peterson has covered a wide variety of topics. Sometimes he is controversial in his stance, bringing him viral traffic. Most of the time his presentations are extraordinarily deep probes of the human psyche.

Whether you love or hate him, the one thing we should all agree on is that he makes us think. His latest book (12 Rules for Life: An Antidote to Chaos) is must-read material. Unlike most books, this one you must own. A library copy will not be enough. You will read and re-read this material again. The message is so deep that one reading only scratches the surface. As I read Peterson’s book I could rarely finish a page without stopping to think about what I just read. Sometime I had to walk away and make sense of what I was just presented. By far, this is the slowest reading of a book for me in over a decade.

For over 730,000 words I’ve been trying to convey a message with this blog. While reading 12 Rules I discovered Peterson said more clearly what I intended in only 500 words. (Yeah, I feel exactly how you would expect.)

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The Minimum Wage and Inflation

By Keith Taxguy / August 6, 2018 / 8 Comments

Economic growth is pushing towards 10 years as of this writing. The 2008-09 recession was deep and slow in recovery. Fewer jobs at lower wages coupled with the long time frame unemployed people had to wait to even get a job at any wage caused tempers to flare. The minimum wage was raised in 2007, 2008 and 2009 to the current federal rate we have today.

Jobs available as the recession eased were not the same quality as jobs lost. More workers were among the working poor, earning minimum wage or close to it. Eventually a vocal crowd demanded a $15 an hour minimum wage. It all sounded good. And fair to workers making less. Business owners also made powerful points. In the end nothing of consequence came of the movement. The expanding economy lifted more wages, nullifying the demands of the activists. Better jobs with higher wages started appearing, too. People used to a higher income had greater opportunity to explore a pay increase at a new employer if the current employer didn’t increase wages.

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