Posts by Frank Addessi
Taxes
Tax Prep Checklist: What You Need to Know
If you’re part of the roughly 60% of Americans who pay someone else to prepare their tax return, then there’s a good chance that you’ve had to make more than one visit to the preparer’s office because you forgot something. Since preparing… read more…
Personal Loans
The Pros and Cons of Unsecured Personal Loans
If you default on a mortgage, the bank could repossess your home to recover part of their money. When it comes to personal loans, however, the only thing securing it in many cases is your own reputation (unless you plan… read more…
Retirement
Top 5 Reasons to Work Past Retirement Age
Once upon a time you worked at a job for 40 years or so. Then they gave you a cake, a gold watch and a pat on the back and sent you on your way, never to be seen or… read more…
Investing
A Guide to U.S. Stock Indices
The Dow is up and the NASDAQ is down, but the S&P is unchanged. These terms get tossed around by everyone, from television pundits to politicians to people on the street. Many people assume they are representative of the stock market as a whole, while others think they represent the state of the economy. Understanding what these… read more…
Personal Finance
10 Personal Finance Myths – Busted
With all the personal finance advice on TV and strewn across all corners of the Internet, it can be hard to know what’s fact and what’s fiction. So we’re here to help. Below are 10 popular personal finance myths that people… read more…
Taxes
The Saver’s Credit: 2023 Rules and Income Limits
Financial experts recommend saving for retirement. According to one rule of thumb, you should have twice your salary saved by the time you’re 40, and eight times your salary by the time you’re 65. Unfortunately, the average American paces well… read more…
Taxes
What Makes a Professional Estate Planner a Professional?
Estate planning requires interdisciplinary knowledge of law, tax and accounting issues. Yet the answer to the question What makes a professional estate planner a professional? is that they get paid. This answer is not only snarky, but it also exposes a rather disturbing issue: the lack of regulation. In most places, anyone can hang a sign… read more…
Retirement
Social Security Myths Busted
If social security were a person, 2015 would mark its 15th year receiving benefits. In other words, the most significant social benefits program in history turns 80 shortly. The program looks remarkably good for its age and shows no signs of slowing down or going away anytime soon. That is, unless you believe the rumors… read more…
Taxes
The Dangers of DIY Estate Planning
While it may be tempting to save some money and plan your estate by yourself, it is likely not a good idea. Estate planning is full of small details that the average person just doesn’t know about, but which someone… read more…
Insights
Up, Up and Away – Understanding Inflation
We’ve all observed at some point that the cost of everything is going up. Most of us have either said or been told, “When I was a kid you could buy a loaf of bread for…” followed by a price… read more…
Credit Cards
The Best Time of Year to Buy Everything
Chances are you have your own shopping rituals that you use to save money, such as never Christmas shopping in any month that ends in “ber,” or checking the clearance rack first. Some rituals are rooted in psychology, like never… read more…
Taxes
7 End of Year Tax Strategies That Can Save You Money
It’s tax time! No, it’s not April 15th and you are not the subject of a time travel experiment gone wrong. But if you are one of the millions of taxpayers who expects to owe and wants to minimize your tax bill, or you want to maximize your refund, the time to think about taxes… read more…
Life Insurance
Life Insurance for Business Partners
Going into business with a partner is full of risks and unknowns (what happens if we don’t get along?). If you think your partner is bad, their spouse may even be worse! This brings up the second problem: if you… read more…
Retirement
Top Business Opportunities for Retirees
To many, an imminent retirement can seem like a prison sentence. They feel they will be cut off from the world and locked away, enjoying only the occasional weekend visit by family and friends. For those who want a little more… read more…
Personal Finance
The Good, the Bad and the Ugly of Bulk Buying
Everyone loves a bargain. Manufacturers and retailers have understood that fact for decades and the result is bigger boxes with less content because it provides the impression of being a good deal. The process is simple: They offer consumers five… read more…
Personal Finance
What a Difference One Degree Makes!
Having a discussion about home energy consumption and saving money can sometimes seem intimidating so it might be best to start with the fundamental equations at the heart of the issue. E (energy) = M (money) Therefore, more energy equals… read more…
Life Insurance
Life Insurance Loopholes
Not all contracts on your life are the same – there’s the gangster movie variety which usually involves a guy named Vinny or Tony who sends you to sleep with the fishies and then there’s the life insurance type. Only… read more…
Retirement
Retirement Goals by the Numbers
The 60’s rock band The Byrds had a huge hit that opens with “To every thing there is a season, and a time to every purpose under the heaven” which is lifted straight out of the book of Ecclesiastes and as far as I know they have never been sued for plagiarism. Lyric litigation aside,… read more…
Credit Score
Get Off The Credit Go-Round and Stop Overspending
There was a time when a trip to the supermarket ended with the question from the cashier – paper or plastic? The cashier was of course asking about what type of bag you wanted your groceries packed in. While paper bags fell into disuse the phrase of paper or plastic stuck around but the meaning… read more…
Credit Score
Grow Your Credit Score From the Ground Up
There are those, myself included, who will tell you that having no credit is worse than having bad credit. While this is largely anecdotal, it seems that creditors don’t like virgins, credit virgins that is. It’s like looking for your first job where positions are listed as entry level but employers really want someone with experience.… read more…
Credit Score
Psssst, Buddy, Wanna Boost Your Credit Score
There are some facts that are immutable: 1. The modern world as we know it runs on credit. 2. Access to credit is governed by credit scores. 3. Crime is driven by greed. The first two facts above drive a particular type of the third. Scams, cons, hustles, and plain old fraud are some of the terms… read more…
Credit Score
The Cost of a Long Term Car Loan
I’m reasonably confident that when Benjamin Franklin wrote that time is money back in 1748 he was not talking about the relationship between the term of a loan and the cost of money being borrowed. However, that doesn’t mean we can’t appropriate the sentiment when we discuss car loans. The credit report agency Experian reported… read more…
Mortgage
9 Books to Read Before Buying Your First Home
Buying your first home will be the biggest decisions you’ll make in both your personal financial lives. In fact, it ranks as one of the hardest, most frightening, long-term commitments you’ll ever undertake. It can become especially daunting if you don’t educate yourself before putting pen to paper on a mortgage contract. But if you take… read more…
Mortgage
Should First-Time Homebuyers Build Their New Homes?
Americans are very keen on having the newest thing whether that is a car, following a fad or even buying a house. Many people believe that the American dream is to build their own house one day. What if you… read more…
Credit Score
Car Loans with Bad Credit: Pros and Cons of Dealership Loans
Having less than perfect credit shouldn’t be an invitation to being taken advantage of but it often is. The fact is that the worse your credit is the worse it can get if you’re not careful. The reason is that when you agree to bad terms because you desperately need a car often results in… read more…