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Money Management Archives |

Gold standard

The Gold Standard was a system under which nearly all countries fixed the value of their currencies in terms of a specified amount of gold, or linked their currency to that of a country which did so. The gold standard was the basis for the international monetary...

Social Security at 62 vs 66 or 70

I have clients asking me regularly if they should start taking their Social Security at 62, 66 or 70.  So, I look into my crystal ball (yes, I have one just for this) and then ask them how long they are going to live. The longevity issue is the crux of the issue.  To...

Credit Card Interest

How much did you pay in credit card interest, last year? Was it in the hundreds or thousands? I have recommended to clients “zero interest” credit cards for faster debt repayment.  These cards typically do not have balance transfer fees. These cards typically have...

Self-Funding the sale of a business.

I had a client who was desperate to sell his business, to the point that he settled on self-funding the purchase. It is recommended that you exercise a certain caution and be truly careful with whom you self-fund for the sale of your business. I was not made aware of...

Pros and Cons of Converting an IRA

 In determining whether converting a traditional IRA to a Roth IRA benefits a particular taxpayer’s situation, many additional factors must be weighed. These include the following. The taxpayer’s present income tax rate versus the rate expected during retirement — If...

EIDL Interest

Most people who took the EIDL advances where under the impression that there was no interest accruing in the first year, nor the extension.  There were just no payments due. Interest was accruing and now the original payments that were sent are not enough to cover the...

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