Monthly Archives: November 2009


There were Never Good Ole Days When it Comes to Personal Finance

After speaking to The Wife’s grandmother for hours this past weekend, I have come to a conclusion about money management, the past and all those that say the world is different today.   The conclusion is best said by one of the best song writers around (10 points for all those that can tell me what song this quote is from!) Cause the good ole days weren't always good And tomorrow ain't as bad as it seems The Wife’s grandmother told me stories about how her and her husband (The Wife’s Grandfather who died a couple years ago).  The Grandparents were both factory workers, with [...]

By |2013-09-26T15:01:48-04:00November 30th, 2009|Personal Finance|1 Comment

Gift Laws and Taxes Made Simple

Most people just assume they can give away whatever they want in any situation; that is just not true. Ignoring gifting laws and taxes can cost you and your family a lot of money!  When gifting large sums of money there are federal tax implications one should keep in mind. Gift Tax Introduction What is a Gift? Before getting started, remember we are only talking about gifts.  Gifts do not have to be cash.  Any transaction in which an interest in property is gratuitously passed or conferred upon another, regardless of the means or device employed, constitutes a gift subject to tax (Boring [...]

By |2013-09-26T15:01:48-04:00November 23rd, 2009|Estate Planning|4 Comments

Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

It almost seems inevitable at this point in our history that marginal tax rates will increase.  Now, they (read: government) wants to start charging a surtax? I am not sure why it is called a surtax rather than just calling it what it is - an increase of your income taxes. The Tax Foundation is a phenomenal website that offers both opinion blog posts, and research projects condensed into smaller blog posts. Last week they had an amazing picture, which highlight the top marginal rates across the country (taking into account State marginal income tax rates) if the surtax was enacted as [...]

By |2013-09-26T15:01:48-04:00November 23rd, 2009|Taxes|7 Comments

When Calculating Life Insurance You Are Replacing Two Incomes!

Purchasing life insurance is a bigger discussion than just replacing one income...sometimes you have to replace two! Over the years I have watched a lot of my favorite personal finance bloggers talk about calculating life insurance need, and I never understood why their calculations only take into account replacing one income.  Two recent posts on the subject are: A Guest Post by The Wealth Pilgrim at Cash Money Life, "How Much Life Insurance Should You Buy?" PT Wrote about his Purchase of $500K Term (I am in the comments talking about this post's very point) You Need to Take into Account 2 [...]

By |2013-09-26T15:01:49-04:00November 18th, 2009|Life Insurance|9 Comments

WSJ Teaches YOU how to Become A Billionaire; Hint: Ignore All “Normal” Advice

Gregory Zuckerman wrote an Article in the WSJ titled, "Greatest Trade: How Can you Make $20 Billion" which provides 8 easy steps to become a Billionaire.  Where did these steps come? Mr. Zuckerman follows two years of John Paulson's work. The article is entertaining, but I'd love to read an autobiography if ever produces it one day. Who is John Paulson? According to Wikipedia, Paulson & Co., Inc. had assets under management (as of June 1, 2007) of $12.5 billion (95% from institutions), which leapt to $36 billion as of November 2008. Under his direction, Paulson & Co has capitalized on the [...]

By |2013-09-26T15:01:49-04:00November 16th, 2009|Investments|0 Comments