Computing your net worth annually is like taking a sextant reading to chart your course toward financial security. Net worth gives you a snapshot of how much money would be left if you converted everything you owned into cash and paid off all your debts.
There are three IRA tax requirements and saving techniques which collided recently for a client. I found a solution.
“Let every man divide his money into three parts, and invest a third in land, a third in business and a third let him keep by him in reserve.”
Most investors do not have a balanced portfolio. And by chasing investment returns they miss the easy money they could make from having a good asset allocation in the first place and rebalancing it periodically.
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As we kept our spending frugal we gained enough margin to start businesses and employ people. And as employees find their area of genius, they help others through their productive work.
New rules go into effect January 1, 2012 which change the way you need to compute the cost basis for mutual funds if you use average cost accounting. We recommend you change the method you use to something which allows better tax management.
Financial resolutions usually don’t even last until the end of January. Making a permanent change in our behavior requires both time and a steely resolve. We can only develop financial character one action at a time. Here are seven practices to take you from pauper to prince or princess if you add one each year.
David John Marotta was featured on WINA 1070’s Rob Schilling Show on December 14, 2011. The topic was the high cost of regulation, leaning libertarian, and the roots of David’s leaning libertarian.
Other than Ebenezer Scrooge in Dickens’s story “A Christmas Carol,” Tiny Tim is certainly the most memorable character. Dickens used the boy in the story to soften the hearts of both Scrooge and his readers toward the worthy poor.
An article by David John Marotta on how to glean information from your IRS 1040 tax return was featured in the latest Nov/Dec 2011 issue of NAPFA Planning Perspectives.
To interest me, a game must have a simple but thought-provoking premise that allows for deep strategy. I’d never played Farmville but decided to recently because the parent company, Zynga, is going public this Thursday, December 15, 2011.
The “Patient Protection and Affordable Care Act” (PPACA), is misleadingly named. It has neither protected patients nor made healthcare more affordable.
True life planning begins when you realize you are unique. There will never be another you in the history of the universe. Your calling is yours alone. Understanding yourself is the first step in managing your financial affairs to support your life plan.
Even though money was tight, having margin in our budget for unknown unknowns kept us from punishing a student simply because they lacked experience bidding painting jobs.
Perhaps one of the most important parts of wealth management is learning what questions are worth asking.
“We tax cars, land and corporations. It is a good thing that people don’t have to pay them!”
It isn’t crazy to suspect that the FDA does as much harm as good. And if you begin to suspect that, you are on your way to admitting that you might be more libertarian than Republican or Democrat
In the midst of this turmoil, especially after this past summer’s sharp drop, many investors wonder if they should put all of their investments into something safe and avoid the markets altogether.
In the process of building wealth, saving a penny on your taxes is just as important as earning a penny in the markets.
Americans are a generous people, and the end of the year is the time of year when most people do their charitable giving.
My original attraction to libertarian ideals started in political theory and theology rather than in politics. This is not surprising because I did both part of my undergraduate work and three years of my postgraduate work in philosophy and biblical studies.
Unnecessary regulation annoys the good guys, and doesn’t stop the bad guys.
Although the house does not pay me any money on an ongoing basis, I think it will represent a very good return on my money invested should I decide to sell.
Our daily articles this month at MarottaOnMoney.com are focusing on the ideas of libertarian politics. Last week I listed the first three reasons why I lean libertarian. Here are four more reasons I lean libertarian.
David John Marotta was featured on radio 1070 WINA’s Rob Schilling show on November 8, 2011. The topic was why David leans libertarian, an appropriate topic for Election Day 2011.
I was flattered to learn that I received several write in votes from among those dissatisfied with the choices presented on the ballot.
This is what makes the stock market in some countries better than others. Make sure that you understand freedom investing for your portfolio.
My youthful utopian idealism gave way slowly to my present midlife perspective. My life’s philosophical and experiential odyssey overturned many of my presuppositions. I learned over time that many of society’s assumptions are provably false. But it took courage to integrate this radical reevaluation of life.
“If free-market advocates could resurrect a U.S. president to deal with today’s problems, many would choose Grover Cleveland.”
November 2011 is Libertarian politics month. Libertarians are as diverse as the Democrat or Republican Party.
Just because something costs a lot doesn’t mean it is an investment. An investment is something that pays you money.
Multifamily offices and private banks see an increasing need for self-defense programs that help protect their wealthy clients.
There are four minor advantages to using exchange traded funds instead of mutual funds.
“With more adult children relying on their parents amid the economic uncertainty – or moving back home – well-laid financial plans could get trampled.”
Starting October 1, price controls were set by law on debit card swipe fees. Such populist well-intentioned legislation reduces economic freedom and slows economic growth.
Investors in this year’s fund IPOs should be protesting. Investors who got suckered by brokers have been massacred by fees and poor performance. Their total losses — hard to believe — total about $1 billion.
I’m in my 20s and I’m just getting started in the working world. I’m also looking at a Roth IRA. Is there a certain Roth you recommend?
I’m in my 20s and I’m just getting started in the working world. Which of the attached 401(k) investment choices do you recommend?
I’m in my 20s and I’m just getting started in the working world. I would love to start funding my Roth and 401(k), but I have no idea where to begin!
A collection of articles from and about third quarter 2011.
What makes Catan particularly interesting is that just producing the most resources is not sufficient to win the game. Knowing what mix of resources you need to meet your objectives is critical.
David Marotta and Megan Marotta were featured on October 11, 2011 on radio 1070 WINA’s Schilling Show discussing the importance of teaching your children about money and giving them a “rich” mindset.
Currency movements changed direction this summer and the dollar strengthened for a season.
Investors pulled $83.31 billion out of stock funds during the summer months. Stocks drop when there are more sellers than buyers. And when there are outflows like this stocks drop precipitously.
This summer many things that should do better over a long-term investment strategy did not. This situation is not unusual for one quarter’s worth of time. Such a result only makes reversion to the mean much more likely in the coming quarters.
Children of the rich and famous are not immune to the temptations and foolish behavior that sometimes plague the rest of this generation’s youth.
Parents with disabled children must have an estate plan to provide without disqualifying them from receiving public assistance.
David John Marotta was featured in a Wall Street Journal article about the upcoming Roth recharacterization deadline.
I love strategy games. Many people dismiss games as a waste of time. But at their best they teach principles of cause and effect that we can use as paradigms for real life.