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Way To Wealth

 

Way To Wealth

 

Filtering by Tag: investing

Dave Ramsey Gives (some) Bad Advice

Luke DeBoer, CFP®

I like Dave Ramsey, I really do. If we were to make a short list of the most influential people in the world of personal finance in the last 50ish years he'd likely be in the top 5 and definitely in the top 10. Honestly, he has positively impacted a staggering number of lives and we should all be thankful for the work he's done.

With all that being said, there are areas of his "guidance" that are truly cringe-worthy ...

 

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You're 30ish and a parent: Do this, not that.

Luke DeBoer, CFP®

... here are a handful of items that the majority of people in the 30's, especially the parents, should be doing ... along with what they shouldn't be doing*...

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How about an extra $672,000 for retirement?

Luke DeBoer, CFP®

Perhaps the most interesting part of personal finance, and especially retirement planning, is investing (which, of course, isn't actually interesting at all to most people). Most people, when the topic of financial planning or advising come up, think of choosing and managing investments before they think of life insurance or budgeting or tax-efficiency. This is completely understandable. Among other reasons we so often think of investing first ...

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A Tax-Free Retirement Building Block: The Taxable Investment Account

Luke DeBoer, CFP®

There are many ways to build wealth, some of them easy, some accidental, most require a lot of hard work and patience, many of the ways are worth it in the end. For all the ways to build wealth, there are also many wealth destroyers. Many of them are self-inflicted, some are not though, such as expenses, bad luck, and one of the two guarantees in life ... taxes. Though few will ever be able to completely (and legally) avoid taxes, there are ways that we can legally limit them. Some of those tactics need to be thought of years, even decades, in advance. One of these ways to limit taxation is choosing where, as in what type of account, to save and invest. 

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HSA Tips, Tricks, & How-To's

Luke DeBoer, CFP®

HSAs are simply awesome. They allow for tax savings that literally no other account type can boast. For that reason, it is a general rule that if you have access to save in one you should make nearly every effort to max it out.

With all that being said, there are other things to address regarding HSAs beyond just trying to put money into them....

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True Story - A Plan For $450k+ of Student Loan Forgiveness

Luke DeBoer, CFP®

John and Jane Doe came to Thinking Wealth (DeBoer Financial) as a referral in the late spring of 2017, seeking help on a very narrowly focused topic: Jane’s student loan situation. Specifically, she had (and still does have) roughly $145k of student loan debt, all of which was incurred in a graduate program. John and Jane just weren’t sure what route they should go in setting up either a repayment plan and/or whether they could get those loans forgiven somehow. They had done some research but the rules and options were, understandably, a bit overwhelming for them...

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