Dependent Care FSA or Dependent Care Credit?

Deciding between the Dependent Care Flexible Spending Arrangement (DCFSA) and the Credit for Child and Dependent Care Expenses can be confusing. Let me break down the rules, so you don’t overpay for childcare. You must work or actively look for work Whether you are using the DCFSA or Credit for Child and Dependent Care Expenses, you . . . 

Protect Against Identity Theft – A Comprehensive Guide

What do Equifax, Target, and Verizon all have in common? Their customers’ personal information has been exposed to criminals. This might include you. Data breaches seem to occur with so much frequency it’s almost expected. The frequency of data breaches has distilled the perceived impact it can have on you. The fact is … you . . . 

Simple Financial Planning

In the world of financial planning, there is an endless amount of advice. Because of this never-ending list of advice, it might be hard to get started with your financial plan. However, financial planning can be distilled down into six key principles: Awareness of your financial situation Optimize your spending Establish an emergency fund Save . . . 

8 Step Retirement Planning Checklist

Retirement checklist

You are within a year of retiring, congratulations! While it is time to be happy, there are a few items to get out of the way. At this point you have identified you have enough money, you have an idea how you will spend your time, and invested in a way that fits your goals. . . . 

Your Financial Plan & Your Most Important Numbers 

Net worth

The next time you turn on your GPS to get somewhere you haven’t gone before the starting point will say “Your Location.” Next time you’re lost in a mall you will look for the “You are Here” sticker.   Get it? To get where you want to go, you need to know where you are.   In financial planning the same is true.    What does “knowing where . . . 

How to Start Your Financial Plan

Don’t know where to start on your financial plan? Start with “Why.”  After you gain an understanding of your “why” everything else can fall into place.   “Why” is simple in concept. It is the reason. It is the purpose.   “Why” is extremely difficult for many people. Why? Because it is emotional, boring, embarrassing, and many more adjectives.   It . . . 

Extend the Life of Your Nest Egg 

After reaching financial independence, you have two options to generate income to cover your expenses:  Continue working  Draw income and principal (eventually) from your investments  Yes, it is possible to live only on the income generated from your investments. Yet, for many people, they will be required to dip into the principal at some point.  At . . . 

401(k) versus Roth 401(k) 

Having a sound tax strategy is critical to long-term wealth building.  Whether you’re an employee, business owner, or invest in real estate there are tax wise decisions you must make every day. After making a smart tax decision your next step is to decide what to do with your winnings.  To understand a tax strategy, I . . . 

Bachelorette’s Peter Kraus = Tax Deduction?

peter kraus madison wi

Summer 2017’s season of the Bachelorette was dedicated to Rachel Lindsey. However, if you lived in Madison, WI the season was dedicated to the hometown favorite, Peter Kraus. While Peter did not end with the final rose, he did position himself as very likable and great candidate for the next Bachelor. For what it’s worth, . . . 

Reduce Willpower. Increase Success.

Systems vs Goals

I’m currently reading How to Fail at almost everything and still win big by Scott Adams. If you don’t know who Scott Adams is, he is the author of the comic strip, Dilbert.   A co-worker introduced me to Dilbert by sharing his daily calendar comic. Each day I’m left with or scratch of the . . .