20 second advisor

Financial insights and tips...all in 20 seconds

20 Second Advisor: Is buying stock like buying airline tickets?

Today I was shopping for a plane ticket I need to buy for an upcoming trip. Since the trip is several months away and the dates are flexible, I was playing with the dates a bit to get the best price. Based on demand, some flights are more expensive than others. Do you need to…

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20 Second Advisor: How to think about Crypto

I’ll be the first to tell you that cryptocurrencies are exciting. While it is exciting to see its sharp rise in popularity, it is important to understand whether it has a role in a diversified portfolio. Putting aside squabbles over the future value of bitcoin or other cryptocurrencies, here are a few issues you should…

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20 Second Advisor: 4 Financial TIPS That Will Help Bring Peace

At our house, TIPS mean “Taylor’s Inappropriate Prideful Suggestions”. Here, I hope they mean something different… Taxes – People act like taxes are a surprise. They aren’t. Hire a good CPA. Make sure your withholding is set correctly. If self employed, save a % of every dollar you earn for taxes Investments – if you…

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20 Second Advisor: Summer Vacation Savings & Travel Tips

As COVID eases, A LOT of Americans are eager to start travelling again. It’s fair to say that there is a substantial amount of pent up demand for travel. Here are a few tips to consider as you plan summer vacations: If you fly, be sure to count up all the baggage fees you may…

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20 Second Advisor: Should I invest in gold?

Investors often think of gold as a hedge against inflation. As Exhibit 1 shows, however, gold has been about 15 times more volatile than inflation. Over the period from January 1970 – December 2019, the annualized compound return for gold was 7.81% with a volatility of 19.24%. For comparison, the annual inflation rate has been 3.91% with…

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20 Second Advisor: Practical Tool To Teach Kids About Money

I REALLY want my kids to learn how to be responsible with money! One of my clients told me about this tool that we have found extremely useful. It’s called Greenlight. Each child has their own debit card that’s linked to their checking account. They also have a savings and giving account. My kids have…

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20 Second Advisor: The Costs of Inflation

Let’s be honest – most of us don’t really understand inflation. The dictionary defines inflation as: 1“a continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services.” In a nutshell, inflation is when prices go up. But why is that…

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20 Second Advisor: Georgia Doubles Deduction for 529 Contributions

The Path2College 529 plan is a great way for families to save for their kids’ or grandkids’ education expenses. Contributions into the plan are not deductible on your federal tax return but you CAN deduct a certain amount on your Georgia state tax return. The amount you can deduct on your GA state income tax…

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20 Second Advisor: Should I buy GA film tax credits?

Looking for an easy way to reduce your taxes? Film tax credits are a great way to reduce your taxes every year. Here’s an example of how they work: ABC film company makes a movie in Georgia and spends $1M making the movie. The state of Georgia gives ABC credits up to 30% of what…

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