Five Ways To Save Money When You Plan Your Wedding

Since I have two daughters, it’s entirely possible that I will be shelling out some big bucks down the road if my daughter’s get married.  The cost of weddings continues to skyrocket across the United States and the national average cost of a wedding day in 2016 shot up to $35,329, according to a survey by The Knot. That’s a $2,688 jump from the 2015 average of $32,641. Increased focus on tailoring an unforgettable day for wedding guests is central to the rise in costs, says The Knot. While the number of people showing up may have decreased—from 149 in 2009 to 141 last year—amenities like photo booths, food trucks, and lawn games are driving up the average cost per guest to $245, compared to a meager $194 in 2009. So, the big question is how can you save some money when planning a special wedding day.  Here are my five tips on how to have a great day, but still stay within your budget. ...

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What You Should Know About The Current Trump Tax Plan

Almost a year after President Trump was elected to office, none of the main agenda bills have passed in Congress.  With Thanksgiving looming around the corner for a Congress shut down here in 2017, one of the big questions will be whether the major tax bill passes before the end of the year.  This single tax plan could have a big effect on how the market finishes here in 2017 and its potential impact into 2018.   Here are the key points you should know about the current Trump Tax Plan. Businesses Get The Biggest Cut The current proposal is to reduce the tax rate of “C” Corporations (currently mostly large corporation) to move from the current 35% down to 20%.   Consider this impact for a company that makes $20 billion dollars and currently pays $7 billion dollars in taxes.  Those companies would in theory get back another $3 billion dollars in freed up cash flow.   The current proposal still considers ...

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5 Ways To Increase Your Family Cash Flow

One of the biggest financial planning concerns I hear every week is how to manage the family cash flow.  So many people see their incomes increasing, but it isn’t necessarily translating to the bottom line.  If you are struggling to make ends meet or just want to stretch your paychecks further, here are five ways to increase your family cash flow. Review Your Tax Return? While you might love getting a tax refund, this is essentially giving an interest free loan to the Government for a year or more.  While some people see this as a form of forced savings, one strategy you could consider is to adjust your withholdings to get more of those dollars back in your paycheck so you aren’t falling behind every month.  In addition, many taxpayers don’t spend the time to take advantage of every tax deduction legally available to them.  You should thoroughly review your tax return and what deductions are available to you ...

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Four Moves Every Business Owners Needs To Make With A Business Will

Most people are familiar with the term ‘will’, but those that own a business often can’t make a distinction between having a personal will and a business will.   Far too often, a business owner has an unforeseen situation which could be a divorce, disability, or death. This leads to massive complications about the succession plan on what will happen with the business.  Does your partner want to work with your wife?  Are your children ready, willing, and able to take over the day to day operations of the business?  Will your family get the value of your business should you pass away?   Here are four moves every business owner needs to make when you put together a business will. Have a valuation method or a business valuation done within the business will. One of the questions that comes about if an owner passes away is determining the actual value of the business.  As a business owner, you never want someone ...

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What Women Need To Rethink About Their Money After Divorce

  Have you ever heard that term ‘they traded in for a new model’ when it comes to discussion around a divorce?   While divorce is never emotionally easy, the more challenging part especially for women is thinking about how to get their finances set after the divorce is finalized.  Many women don’t build a financial plan to recalculate their own goals and objectives, nor do they always fully understand the implications of child support, alimony, or how to best get the assets set up that they took over after the divorce.  Here are five important consideration every woman should rethink after the divorce. Your Home – The last thing in the world you want to do is to sell the house that your kids are used to or move to a new school district. Just the thought of making new friends, new neighbors, and navigating a new school traffic pattern in the morning can be daunting.  However, many women take ...

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What Fantasy Football Can Teach You About Diversification (or Your Financial Plan)

The football season is upon us again here as the fall rolls around and neighborhoods and workplaces are buzzing with Fantasy Football fever.  The Fantasy Trade Sports Association commented that the Fantasy Football market is more than a 70 billion dollar industry today and growing.   With so many people joining multiple leagues, what can this popular game teach us about how we manage our portfolios and diversify our assets. Do Your Homework? It’s shocking how many people don’t know what they own in their 401(k), IRA, or their brokerage accounts.  You may have purchased a target fund or some growth and income fund, but you don’t actually know what you own.   Moreover, you may not understand the risks on how much you could gain in one year or how much you could potentially lose in one year.  It’s important to read the prospectus before you invest, look at the track record of the investment you will be making, and learn ...

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