Improving Financial Health
Have you ever wondered if success with your finances is just a lottery ticket? One person gets a ticket and no matter what he does he is successful and another person gets a ticket and no matter what he does he’s doomed to failure?
The Wall Street Journal recently reported that 70% of Americans live paycheck-to-paycheck, regardless of income.
USA Today recently reported that 76% of Americans have less than 6 months’ living expenses in emergency reserves and 24% of Americans have NO emergency reserves at all.
Financially, we spend most of our time making money, but little to no time learning how to master the use of it. We help our clients reduce their stress around money by showing them how to keep more of what they earn, thus increasing their monthly cash flow. We do this by identifying areas where they may be transferring their money to others unknowingly and unnecessarily, and developing a strategy that reduces or eliminates those transfers. Some wealth transfers are avoidable and others can only be minimized.
We find that people tend to lose money in the following areas:
- How they choose to finance their home
- How they choose to pay their taxes
- How they choose to save for retirement
- How they choose to save for higher education
- How they choose to pay for major capital purchases
There are two ways to fill up a bucket that has holes in it. The first is to plug the holes and the bucket will fill up, even if the flow is a trickle. The second is to pour more in. Which one of those two financial strategies do you feel the financial institutions have had you employing in your current financial position?
We believe that we can have a bigger impact on your financial future by helping you avoid the losses rather than helping you pick the apparent winning investments. It makes little sense to have a million dollars only to discover you lost a million along the way.
Strategy Makes The Difference
We offer the same products as other firms. However, financial success is not achieved through a product. Financial success is achieved through the implementation of, and adherence to, a comprehensive financial strategy. The financial products that captivate our attention are usually the products that promise to pay the highest rates of return. However, the products that offer safety, liquidity, preferential tax treatment, leverage, and collateral opportunities may be far more valuable.
Click here to see what our clients say makes us different.
From The Wise & Wealthy Blog
In a post entitled “How Can Itemizing Deductions Affect a Homeowner’s Income Taxes?” I introduced a couple named Joe & Mary and demonstrated how, under current tax law, the tax treatment of mortgage interest allowed them to reduce the tax they otherwise would have paid and keep more of the money they earn. The tax
I am often surprised to find out how few homeowners actually understand how the tax benefits of owning a house affects them. So much so that I am compelled to write about it and attempt to explain it in today’s post. In order for a homeowner to deduct mortgage interest on their income tax return
Many first time homebuyers are told there are tax benefits to owning a home, however, few people can explain what those tax benefits are beyond the tax-deductibility of mortgage interest. In fact, many homeowners aren’t even aware of the tax benefits. The benefits are slightly different for purchase transactions than for refinance transactions and I