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Habits

We are creatures of habits, for good or bad. Some become automatic, some become mandatory, some are unconscious or conscious. Some experts say it takes around 21 - 30 days to form or unlearn a habit. Habits need support, reminders and repetition to become permanent....

Why Being Frugal Still Relevant

A frugal attitude is needed in booming, recessionary, inflationary, and deflationary times. Booming economic times affords us to set aside some disposable income as a hedge for leaner times. Setting aside a reserve will help individuals and businesses, with uneven...

Why Being Frugal Still Relevant

A frugal attitude is needed in booming, recessionary, inflationary, and deflationary times. Booming economic times affords us to set aside some disposable income as a hedge for leaner times. Setting aside a reserve will help individuals and businesses, with uneven...

The Coming Out of America

A Coming-out event is big with all pomp and circumstances.  How are you planning your debut? Quickly, or cautiously?  We all have options in America. We all have different risk tolerances, e.g. insurances, stocks, health to name a few.  Risk is especially true with...

PENT-UP DEMAND

What is 'pent-up demand? Economically speaking, it is the demand for a product or service that has been reduced or eliminated in the free market system. What happens when the supply of the product or service becomes available again? A rush to buy? Hoarding? What is...

‘Cacooning’ is the Key

What is 'cacooning'? It is a retreat from stressful conditions. Does today Qualify? I think so - bigtime. It was coined in a 1981 book, "The Popcorn Report", by Faith Popcorn. Her book suggested many future behaviors that we have seen fulfilled over the years. One of...

Solution for Families With Kids

This crisis takes many forms besides the obvious health and financial crisis. It affects all of us regardless of income, race, young, and old. The purpose of this article is to be proactive, positive as well as realistic since this will not last forever. We should be...

ROTH IRA ALTERNATIVE TO REGULAR IRA

Why a ROTH IRA? When you get a deduction for a contribution to an IRA - that is a benefit. The benefit is a reduction in income. When you receive this deduction, the tax has been deferred and becomes taxable when it is distributed later. Contributions to a ROTH IRA...

WHEN ARE GIFTS TAXABLE?

What is a gift tax? When is a gift taxable? When are we required to file gift tax returns? Who files the gift tax return? A gift tax is a wealth transfer tax while alive and together with the estate tax at death are both part of the unified transfer tax system. The...

NON TAXABLE GIFTS vs TAXABLE GIFT

What is a gift tax? When is a gift taxable? When are we required to file gift tax returns? Who files the gift tax return? A gift tax is a wealth transfer tax while alive and together with the estate tax at death are both part of the unified transfer tax system. The...

How to respond when a friend asks for money or a loan

This is a very tricky situation: Your friend is asking for money—a loan. If you say ‘yes,’ you risk being someone’s ATM. If you say ‘no,’ you might damage your friendship, or lose your friend altogether. Has this friend asked you for a loan before? Has it...

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