Category: Personal Finance

Take Control of Your Debt… and Get Rid of It

Note: This post contains affiliate links. If you buy something through one of these links, I may receive a commission. If it feels like debt has taken over your life, you’re not alone. And while it might feel like that debt is controlling your finances, you can take control back… conquer that debt… and get your...

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How to Keep Your Checking Account from Busting Your Budget

When you’re trying to stick to a budget and build your wealth, every dollar counts – especially when it comes to unnecessary expenses that chip away at your cash balance. And the number one culprit here: bank fees. Bank fees slowly and steadily eat into your money, especially when you don’t even notice you’re paying...

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6 Things You Can Do to Recession-Proof Your Portfolio

Recessions happen – they’re unavoidable. In fact, they’re a normal part of the economic cycle, just a fact of life. Unfortunately, these economic dips usually send investors into panic mode, racing to get out of the markets before their portfolios hit rock bottom … and that can be a huge financial mistake. Recessions don’t have...

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What’s MAGI and Why Does It Matter?

If you’re getting locked out of taking some deductions and retirement savings options, look at your MAGI – modified adjusted gross income. MAGI is a little tweak on regular AGI (adjusted gross income), designed to keep high-earners from reaping certain tax advantages, mainly deductions for IRA contributions and student loan interest or Roth IRA contributions....

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Phased out of a Roth IRA? Here’s How to Use the Backdoor and Avoid Tax Traps

UPDATED FOR 2019 I’m a big fan of Roth IRAs: They offer the most flexibility and best future tax advantages for retirement money… Earnings are never taxed You can withdraw your contributions at any time without penalty You don’t have to take the money out after you hit retirement age As long as you’re working, you...

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How to Combat Tax Identity Theft

You won’t know it’s a problem until you try to file your tax return and it comes back INVALID – but tax identity thieves may have already targeted you. Every year, they come up with new ways to steal your Social Security number and grab a tax refund in your name. Then, when you try...

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