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20 Second Advisor: Keeping Up With The Steinbergs
Last week, our family took a trip for our kids’ winter break from school. On the long drive, I had the chance to listen to a podcast, The Just Enough Family. It details the rise and fall of Saul Steinberg, an American businessman that rose to great wealth by the age of 30 only to…
Read More20 Second Advisor: Holiday Volatility In Perspective
In the past several weeks, markets have cooled off just a bit from the nearly non-stop bull market over the last 18 months. Here are a few keys things to remember about investing during these periods (and a short video): It is normal for markets to incorporate “new” information into stock prices. The recent Omicron…
Read More20 Second Advisor: How a $12 hamburger costs you $20.34
It’s not totally uncommon to talk to prospects or clients that make several hundred thousand dollars a year, and they don’t know where all their money goes. Ex: We make $300,000 per year, but don’t really have much savings to show for it. Here’s why I think this happens: The more someone makes, the more…
Read More20 Second Advisor: To borrow or not to borrow? Part 2 – Freedom from debt feels good.
Last time, I wrote about the financial elements to consider when you’re deciding whether to pay off your mortgage early. See here for that post. Today, I want to touch on the emotional elements of paying off debt early. As discussed in the last post, you are almost always better off financially to slowly pay…
Read More20 Second Advisor: To borrow or not to borrow? Part 1 – The true cost of mortgage debt.
With interest rates near their all time lows, I want to write a few blogs about mortgage debt. It’s a question we get asked all the time: “Should I pay off my mortgage quicker than scheduled?” Before we answer that question, I want to explore the true cost of carrying mortgage debt. The factors that…
Read More20 Second Advisor: The Boring Way to Building & Sustaining Wealth
I’m asked all the time about the latest investment trends: Should I invest in bitcoin? Real estate is really taking off, should I buy a rental? What about Tesla – are we all going to be driving electric cars in 20 years? At the heart of all these questions is that investors are often looking…
Read More20 Second Advisor: New Money from Uncle Sam (aka: child tax credit) and why it may give families a surprise tax bill next year!
For many American families with children, the Treasury Department started depositing money into their bank account starting in July. What is this new money? Well, the American Rescue Plan (passed earlier this year) expanded the child tax credit from $2000 per child* to either $3,600 (for kids under 6) or $3000 (for kids over age…
Read More20 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…
Read More20 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…
Read More20 Second Advisor: Big checks for having kids!
The American Rescue Plan Act of 2021 was recently signed into law. Most pundits have focused on the $1400 per person stimulus checks. There is also a BIG increase to the child tax credit. Here’s what you need to know: The child tax credit has been increased to: $3,600 for each child under age 6…
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