Inflation is a tax that hurts all income earners. For lower income workers, higher costs mean very difficult tradeoffs that have an impact on everyday living. For higher income earners, it may have less of an impact of their standard of living, but higher expenses can erode the ability to save sufficiently for future goals, like retirement. There are a number of ways individuals and families can respond to rising prices and mitigate their harmful impact.
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Americans tend to be multi-taskers, or at least they think they are. The truth is that multi-tasking is a mirage because the brain simply lacks the ability to perform two or more tasks at the same time. The actual result of multitasking is reduced efficiency in the workplace, and worse.
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Disciplined savings and smart investing are the cornerstones of long-term wealth accumulation, but it could be all for naught in the event of a substantial financial setback due to a loss of property, death of a spouse or a personal liability judgment. It’s why insuring against these risks is so critically important for achieving long-term life goals. Use this risk management checklist to help individuals assess any gaps in protection against life’s risks.
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One of the tax benefits of self-employment is the ability to take advantage of the home office deduction. But there are some limitations and requirements that must be met. In order to determine if taking a home office deduction is smart, let’s look at the pros and cons.
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One of the most effective ways to grow your advisory practice is by focusing on niche markets. If you’re seeking to identify a particular niche market that’s right for you, then use this “Identifying Promising Niche Markets Checklist.”
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