July 2012

I’m a car guy, and since I like to keep my car nice it has always driven me crazy that the xenon headlight lense covers were no longer crystal clear, but yellow and brown. They didn’t shine as bright either, since the aged plastic filtered the light. I drive a 1999 Toyota vehicle with over 285,000 […]

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I spend a lot of time thinking about finances, studying financial issues, writing about various personal finance topics. I regularly meet people in financial crisis and read international news about the Global economic crisis, but I am starting to come to the conclusion that we don’t have an economic crisis at all, but something altogether different. When we think […]

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Traditional IRAs which I wrote about a few days ago are good for supplementing ones retirement, providing current tax deductions, and growing tax-deferred until retirement. However, when someone wants to use the money for retirement or other needs they should be conscious of the rules and limitations to avoid tax penalties. Let me say at […]

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The old or traditional Individual Retirement Accounts or IRAs came on the investment scene with the enactment of the Employee Retirement Security Act (ERISA) in 1974. These individual retirement plans provided a reduction in taxable income, the IRS doesn’t tax the growth on the monies while they are accumulating, however upon withdrawal, all amounts disbursed […]

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Individual Retirement Accounts or IRAs came on the investment scene with the enactment of the Employee Retirement Security Act (ERISA) in 1974. These individual retirement plans provided a reduction in taxable income, but contribution maximums were only $1,500 per year then. To further enhance IRAs, the IRS doesn’t tax the growth on the monies while […]

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The credit card industry, within the last few years, has come under closer oversight and regulation. Dave Ramsey in his Financial Peace University class lessons of Dumping Debt and Credit Sharks in Suits has been particularly critical of the bad behavior and sometimes illegal practices of credit card companies. Just last week Capital One Financial […]

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Interest rates continue to plummet for borrowers, with mortgage rates dropping below 4% for 30 year fixed, and less than 3% for shorter term mortgages like 15 year plans. Conversely investors continue to see interest rates drop for their investments and savings accounts. For conservative investors and those wanting to put emergency savings in a FDIC […]

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A few years ago Bob Lotich of ChristianPF.com published this excellent article, and I continue to find inspiration and insight from it. It is kind of like becoming a tree I was staring at a tree the other day just day-dreaming and kind of worrying about how long it was taking to get answers to […]

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The Federal Estate Tax is the tax paid on assets that transfer at death. The current top rate is 35%, but it could increase to 55%, reverting to the 2001 tax rules if Congress doesn’t continue the lowering of tax of the Bush Administration. The current tax only applies to estates of $5,000,000 or larger, but […]

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Before You Bargain Hunt, Consider This… Everyone is looking for a way to save money. Companies are taking advantage of this by promoting their best “bargains” to the fullest and people are scouring thrift shops for a used version of anything they need. However, not all bargains are created equal. There are some things that […]

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Budgeting – Knowing Where to Make Your Cuts If you’re struggling financially, cutting your expenses is the first step toward regaining financial control. With less money going out, more money can go toward your necessary expenses to catch up and solidify your financial ground. But where do you make your cuts? Everything can seem important, […]

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Best selling author, nationally syndicated radio financial expert, motivational speaker, and creator of Financial Peace University financial education class Dave Ramsey is an amazing guy with a great institution. Operating under the Lampo group in the Nashville Tennessee area, Dave has grown his company over the last 20 years employing hundreds of people serving millions […]

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Retailers are a dime a dozen so I can be choosy who I decide to deal with. Here are the top things that turn me off and others that attract me to do business with them: Retailers to Avoid Those that make big claims that they always have the lowest price. I never trust this […]

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Good financial management entails more than making wise career and purchasing decisions. Managing our purchases is more than being principled in our mind about finances, in how God is the owner and we are merely stewards. It is even more than being generous givers, avoiding debt, living well below one’s means and saving. Good personal […]

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I just spoke to a good friend and veteran in Columbus Ohio that has a mortgage with JP Morgan Chase for 30 years at just over 6%. Chase lowered their interest rate to 1% for 3 years, which made their monthly payment drop by about $400. They were told that this was a special program […]

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Someone once gave me advice when I was young and eager in business, to live just below my means. Have a nice car and loan to go with it, and other niceties of life, I was told that this would motivate me to succeed.  He said that living on the edge this way would keep […]

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There is quite a bit of miss-information when it comes to whether someone should pay-off their mortgage. On one hand it is wise to have as a goal to someday have a mortgage free home, especially as one enters the retirement years, and minimizing of cash flow and simplification are goals. Many people wonder if […]

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The other day Dave Ramsey’s newsletter  had the Money Etiquette: 6 Mistakes to Avoid, I thought they were pretty good, funny and worth sharing. Dave’s newsletters are really good and worth signing up for (they’re free): Tipping poorly. Dear Mr. Bad Tipper: Nothing says, “Thank you for taking my order, bringing my food, refilling my […]

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King David is one of the central characters in the Old Testament. Ancient Israel’s nearly 500 year history of monarchial rule begins with David, following the first king Saul. Studying David from a financial perspective in the books of Samuel, 1 Kings, and 1 Chronicles makes very interesting reading, as does the book of Psalms since […]

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Our city (Columbus Ohio) is 4 days into an electrical outage for nearly half the city. Our power through American Electric Power continues to come and off, giving us some relief, but never sure if we should buy ice or move refrigeratable goods to our parent’s units.  My wife and I are experiencing some benefits and costs […]

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