I have always believed that it is a rare occasion that insurance should be used for more than insuring something you can’t afford to lose. When considering life insurance, this means using term policies to cover income that your family can’t do without. Sure, on a rare occasion we will find a cash value policy useful for estate planning with tax issues.
By: John P. Napolitano, CFP®, CPA, PFS, MST
Every year about this time, I publish something about trying to cut your income tax bill. This time of year makes sense because in April, many people are looking back at the tax returns that they just filed or extended for 2018 and asking, how can they cut this bill for 2019.
Most consumers typically have both a credit card and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.
But are there any other differences between the two?
April…can you believe it. Spring breakers are done breaking. Daylight saving time (no “s’ on saving) is in effect…hopefully year round. Easter is on us. And tax procrastinators are feeling the heat…the filing deadline is days away.
And how about those first quarter statements. Beats your year ender, right? I’m the first to say no day, week, quarter, or even year’s worth of performance will have lasting impact on your life long investing career. But when we get a nice quarter, why not a little minor celebration. Because you’re not likely to hear about it from mainstream media.
Chances are, you probably have your Social Security number memorized, so you may not have had to use your card in awhile. However, there are times when you may be required to show your actual card, such as when you start a new job or need to access certain government services. Fortunately, replacing a lost or stolen card is a relatively easy process.
Investing in retirement takes a different approach than investing to build wealth. In retirement, investing for income becomes much more important.
Congratulations! You've decided to start a family. Up until now, your health insurance has probably been adequate, paying for routine doctor visits and prescription drugs. But now that you're facing a lifestyle change, you must make sure that your health insurance policy will keep up with those changing needs.
Check your coverage
If you’re currently considering purchasing investment property, there are an equal measure of risks and rewards. Like any investment, risk can be managed, but you want to be aware of the risks prior to investing in property. And like any investment, there can be rewards, some quite large.