Your Bank May be a Dangerous Place to Store your Money
If you’re old enough to remember the Great Depression – or “It’s a Wonderful Life,” then you know that banks haven’t always been the safest place to keep money. In fact, FDIC insurance came into existence after massive bank failures during the Great Depression....
The New 401k “Tax” Nobody Will Tell you About
Joe and Mary were looking forward to a life of travel and golf. They’d retire with $40,000 in tax-free Social Security benefits, and supplement it with $55,000 they planned to draw from their former 401k’s – now IRAs. Sure there’d be $10,000 in taxes on the IRA...The New 401k “Tax” Nobody Will Tell you About
Joe and Mary were looking forward to a life of travel and golf. They’d retire with $40,000 in tax-free Social Security benefits, and supplement it with $55,000 they planned to draw from their former 401k’s – now IRAs. Sure there’d be $10,000 in taxes on the IRA...Would You Pay Your Investment Advisor $1,000,000?
It sounds like a silly question – but the shocking truth is that hundreds of thousands of people will do just that over their lifetime. Could you be among them? Consider this – an investor who saves just $1,000/month from age 25 to 70 – stops – then draws...
First, Lose No Money
Our last blog talked about the three failure traps. We crossed two of them off the list – leaving us with just failure trap number two to figure out – how to avoid putting our money into things that can – and often do – lose value.
Avoiding Failure Trap No. 2 is so critical, my number one rule of wealth-building is First, Lose No Money.
