One Page Financial Plan Review-by Carl Richards

The One Page Financial Plan

Dr. Phil + Suze Orman + Oprah = The One Page Financial Plan Values Based Money Advice Carl Richards hits the nail on the head when he begins with The Most Important Important Money Question, “Why?” He’s touching on the issue that most people never explore; What are you going to do with your money? This leads into your personal values. And that’s where the Dr. Phil similarity lies. Richards recommends drilling down, really deep in terms of what’s important to you. And he means “you”, not your …

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file a tax extention

File a Tax Extension-Save Time, Reduce Stress

How to file a tax extension. Pay tax bill now and file tax forms later. Why I’m Filing an Extension for Last Year’s Tax Returns I used to believe that it was a character defect to get an extension on paying taxes. I didn’t realize that as long as the bill is paid in full by the due date, then there’s no harm in delaying the paper work. And the IRS gives you six months, until October 15th, to turn in the 1040 and all the accompanying required tax forms. I got my tax organization and detail tog…

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how to handle a tax audit

How to Handle a Tax Audit; the IRS Says I Owe $25,000

The Dreaded IRS Tax Audit Letter The thick IRS letter arrived and I assumed it enclosed the tax forms I ordered. I was wrong. The letter contained a list of 5 sources of income that were not included on my 2010 tax return. Total bill due the IRS including penalties and interest, $25,000.00. Panic set in. Ironically, 2010 was the year I was exceptionally familiar with the tax law as I served as a VITA volunteer tax preparer for the IRS. What was going on?

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Live wealthy in any economy


You Can Live Wealthy in Any Economy Whenever I get plagued with an attack of ‘I don’t have enough’ or life’s not treating me well, I fall back on a few simple wealth building tools. We talk a lot about building wealth and how to live wealthy here, but it’s important to remember that life’s a marathon, not a sprint. Further, you can live wealthy regardless of the size of your bank account. Don’t even think about the news, or the dour talking heads on your TV. You are the master of your own des…

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holiday activities ideas

14 Holiday Activities to Build Wealth and Memories

Holiday Activities, Experiences, Wealth + Memories “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” ~John F. Kennedy Call me scrooge, but I think activities and memories are better holiday gifts than stuff you get, tire of, and forget about. These ideas will last a lifetime. Although our daughter is all grown up, I still remember the holiday cruise we took with my entire family over a decade ago. And I don’t know abo…

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best personal finance tips lessons

Personal Finance Lessons – Part 2

Welcome to Part 2 of Personal Finance Lessons from Rob Pivnick. This part of the interview gets into the topics of how couples handle money and investing. Two Important Personal Finance Lessons 1. Those who write down their savings goals are 33% more likely to reach them. 2. Among adults, those who actually have a written plan/budget save 2.5 times more than those who have no written plan.

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microeconomics made simple book review

Microeconomics Made Simple

Microeconomics Made Simple Book Review Why I Love Economics and You Should Too (Beer Included) Chapter One, “Maximizing Utility” begins with the global issue, how to obtain the greatest amount of life happiness given one’s limited resources. This chapter rapidly transitions to address the accusation that maximizing utility or happiness might be seen as selfish with the first subheading, “What about charity?” Not to imply that “happiness” is selfish, the authors explain how utility includes ma…

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