My Older Brother, His Finances, My Help, A Dream

I love my older brother.  I would do anything in the world for him.  I think, care and worry about him all of the time.  No, nothing is wrong, at all.  It’s not that kind of worry, so readers, please don’t, “worry”.  I always think about how great of a person he is and the potential taking on life, in full force, as he has just as much energy as I do.  The one HUGE area he has potential in, is guess what?  His finances.  He’s not completely awful with money, but it’s moreso that he has so much potential to be that much better with money.  When it comes to family, finances is an area that you would kill to make sure that they are taking advantage of every single opportunity that they have.  I want him to be right there with me, if possible, or even have his finances in better order than mine!  That’s what we do as family.  However, it wasn’t looking like that was going to happen and after years of working with, talking to and showing him what can happen, he did one thing.  He finally said, “Lanny, please help me be better”.  That has been the best statement I heard from him all year.   Continue reading

Take Risks – Nothing About Your Finances is Permanent

“Nothing is permanent about our behavior patterns except our belief that they are so” – Moshe Feldenkrais

I was a little shocked, but I was able to find a quote that aligns perfectly with the message of this article.  This morning, I felt motivated to write this article because it finally hit me.  If you are unhappy with the status quo of your financial situation or are on the fence about trying a new personal finance strategy, why not take risks and go for gold?

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One Downside of a Roth IRA

I’m starting with a disclaimer here.  We could debate for hours the pros and cons of a Roth IRA; Heck, Lanny has written about both sides of the Roth vs. Traditional argument already…first about maximizing your Roth IRA contributions for 10 years and then writing about his plan to use a Traditional IRA going forward during the summer.  What am I proving here?  There is not a one size fits all approach and using a Roth or a Traditional account may (and should) change as your financial situation changes.   This last week I experienced one of the downsides of a Roth IRA and I wanted to share it with all of you.

Roth IRA

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Strategy Adjustment – Taxes… (Series, Part 3)

Welcome back!  After the first two posts, I can see now the heat coming from the articles and the insight that individuals are also providing through their comments.  We all want to save on taxes, reduce the liability, invest more money and keep more of that money, which we earn through our sources of income.  Here we are… Part 3 to reduce taxes and invest MORE.  This is possible everyone, VERY possible.  The first portion of my strategy was to maximize my 401(k) with my employer, which will result, in this first year, a savings of OVER $5,000 and the second portion of the strategy led to tax savings of over $1,000 MORE!  However, as you guessed it, it does NOT end there.

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Strategy Adjustment – Taxes… (Series, Part 1)

Very strange article title, isn’t it?  To begin, I love dividend stocks to invest in.  I love the pursuit to financial freedom and to be completely independent in the decision of what to do with my time.  As with that time – happiness is what truly matters, and making a difference in others lives.  I want to do that, NOW, Tomorrow, the next day and so on.  I want to be able to spend as much time with friends and family as I see fit in my life and to help others that are in need.  In doing some “deep-thinking” on how to further expedite this, maximize my money, which buys time, I have changed a strategy of mine.  The target?  Taxes.

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