8 Home Buying Mistakes to Avoid

Exactly one year ago, our family completed a crosstown move in Charleston, South Carolina to get closer to family, my wife’s business, and our children’s schools, and thankfully, within a short little drive to Folly Beach. Any planned major purchase can add significant joy (and stress) as well as some expected and unexpected financial challenges and this was one was no different. Our new home was purchased through a short sale and although it was left structurally sound when we moved in there, there was a long to-do list related to cosmetic repairs, appliances in need of replacement, and an exterior in need of pretty significant landscaping and TLC. Continue reading

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Posted in Buying a Home, The Money Doc | Tagged , , , , , | Leave a comment

Is Your Credit Score Hurting Your Job Prospects?

One of my friends sent me this article about credit scores impacting a job search to ask my opinion. And, he confided in me that this is probably a part of the reason that his wife has been unable to find work for nearly two years and has just about given up on her quest to find another job. This is a very troubling trend in the workplace and all too often good people are being denied the opportunity to work in this dreadful economy that just hasn’t produced robust job growth.     Continue reading

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Posted in Communicator, Financial Wellness | Tagged , , , , , | Leave a comment

10 Financial Lessons From the Celebrity Apprentice

While I don’t generally watch tv or even own one, I have to admit that I’m a huge fan of one particular show: The Apprentice, which is currently on the verge of the finale of its All-Star Celebrity Season. While the show has its share of mindless reality tv entertainment, there are lessons that can be derived from it, not just for the business world that the show is based on (albeit loosely) but for our own personal financial lives as well. Here are some financial lessons from this season’s celebrity firings: Continue reading

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Posted in Financial Wellness, The Maverick | Tagged , , , , , | Leave a comment

How Is Your Retirement Income Taxed?

Last month I took a phone call from a gentleman who is in the process of preparing for retirement. He has done a good job saving and now that he is getting ready to take distributions from his retirement accounts, he is concerned about taxes. We are often lead to believe that taxes will be less in retirement and for many taxpayers, that will be true not because of a change in the way things are taxed but rather because many retirees will be able to enjoy retirement on less income.  Income sources are taxed no differently in retirement than they are while we are working.  Sure, we receive an additional deduction once we turn 65, but the primary difference between our working and retired years is not how our sources of income are taxed, but the “sources” of income themselves. Continue reading

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Posted in Rebel, Retirement Planning | Tagged , , , , , | Leave a comment

Will the Grass Really Be Greener?

Spring crept up on me this year, giving the weeds in my lawn time to spread before I was able to spread any weed control. On top of that, when I went to cut the grass for the first time last week, I discovered my lawn tractor had a flat tire that was not easily fixed.  Luck was with me though, because just as I was about to give up on the lawn care that day, I heard the sound of a weedwacker and noticed a shiny 4×4 pickup truck and trailer parked in front of my neighbor’s house. “No problem, I can cut your grass and apply some weedkiller for you today” said the landscaper with a big smile – and a big price tag.  I ended up having to pay him $160 to cut my acreage and attack the weeds. Continue reading

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Posted in H.R. Guru, Money Saving Ideas, Uncategorized | Tagged , , , , , | Leave a comment

Did Mom Miss Out on this Important Gift?

Yesterday, Americans spent nearly $20 billion saying thanks to mothers across the country for their priceless roles as domestic CEOs. Hopefully, you had an enjoyable Mother’s Day weekend and had the opportunity to celebrate with the moms in your life too. While my son and I were making our special recipe of blueberry explosion pancakes in the kitchen for my wife (well, I was primarily trying to minimize the mess he was making out of love for his mommy), I started thinking about my memorable Mother’s Day gifts of the past. As a child, I’m sure there were more than just a few kindhearted but lame attempts at breakfast in bed, homemade cards, flowers, and gift certificates. Even as an adult, I still struggle to find the best gift for my mom and I am sure that I’m not alone when I say that it’s tough to find a substantive gift that adequately says thank you enough. (However, I did come across this open letter to moms everywhere from Kid President and it’s sure to make some moms smile in realizing how awesome they are!) Continue reading

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Posted in Financial Planning, Money Doc | Tagged , , , , , | Leave a comment

Rules That Are Meant to Be Broken

It looks like the FAA may relax the rules on what types of electronic devices you can use while the plane is zooming down the runway about to take off.   I’m not sure it would have helped Alec Baldwin continue to play Words With Friends a little bit longer and avoid that confrontation, but it might make a lot of people (including me) happy. I’m a big fan of reading and my favorite thing to do on flights is to read. And lately I’ve been reading more on my iPad, using the Kindle app and my local library’s e-reader checkout program.(Bonus tip:  For those of you who love to read, check out this link to Overdrive, which is the program I use to check books out of my local public library for free rather than buying the book via digital download. It’s a great money saver!)  Sometimes, there are rules that need to be updated in order to keep up with the changing world.  Here are a couple of rules with your financial life that you might want to consider updating. Continue reading

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Posted in Communicator, Financial Planning | Tagged , , , , , | Leave a comment

Does the 401(k) “Suck?”

A friend of mine recently sent me an article titled “It’s a 401(k) World and It Sucks.” I realize that the 401(k) is not perfect (but what is?) and the author does make some good points. But that being said, “sucks” is a pretty strong word about the vehicle that has encouraged more retirement saving than anything else, especially considering how much we need to increase those retirement savings. Let’s take a look at each of the author’s main arguments: Continue reading

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Posted in Retirement Planning, The Maverick | Tagged , , , , , | Leave a comment

Just When You Thought It Was Safe to Rent a Snorkel…

My wife and I just returned from a beach vacation. One thing we enjoy doing when at the beach is snorkeling, so we went down to the local surf shop to rent snorkel equipment. As we were about to pay the young man for our equipment, he pulls out a one hundred dollar bill and slams it on the counter in front of us. He then asks us “how would you like to get paid while on vacation? Continue reading

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Posted in Money Saving Ideas, Rebel | Tagged , , , , , | 2 Comments

Hungry? Don’t Let Haste Flame the Fire

There’s nothing better than a flame-broiled steak cooked out on the grill, and with the warm weather finally here, smelling my neighbor’s grill going got me hungry to get my own grill cooking for the first time this season. I’ve had my cooker for several years so I should have taken a few minutes to do a quick checkup before cranking up the flames on my gas grill. As soon as the temperature hit 500 degrees, I threw on the t-bone steaks and headed back into the kitchen to get the salad tossed. Continue reading

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