You must protect your assets through a business listing, like an LLC or corporation. This is because we live in a society that's sue-happy, and will look to milk every penny out of you for any slight wrongdoing. Also, insurance alone won't cover the cost of any lawsuit, as it is only meant to be an initial defense. Finally, you'll need to understand the regulations involved in shielding your … [Read more...]

Many people want to quickly pay off their house to avoid paying excess interest decades down the line. One technique to achieve this rapid payoff is through Velocity Banking, where a home equity line of credit replaces a traditional mortgage, and can be paid off in under a decade. While this strategy has worked for some, it is also riskier due to variable interest rates and increased monthly … [Read more...]

Though the housing market dipped 6.4% in March to April, there has not been decline in the market that had been predicted. The Wall Street Journal reported that even though the economy is shrinking and jobs and businesses are disappearing the housing market is still remaining steady. Listing prices are still seeing an increase of about 3.1% in May. But wait, that is listing prices and not … [Read more...]

Attorney-client privilege protects an attorney from having to provide information to a plaintiff in a lawsuit or to a government agency. However, there are situations where it doesn't apply. If a third party is present during discussions, the privilege becomes compromised. It's possible to extend attorney-client privilege to professionals hired by the attorney, but generally speaking, outside … [Read more...]

Velocity Banking is fairly similar to Infinite Banking. Infinite Banking is where you use a life insurance policy essentially as your bank account. Velocity Banking in contrast is using your home mortgage as your virtual bank account. Velocity banking allows you to pay your home off faster while also allowing you a line of credit for making purchases or investments. It's a pretty unique trick for … [Read more...]

When it comes to tax return filing, do-it-yourself methods sometimes lead to costly mistakes. As the tax deadline slowly approaches, this is a good time to consider some common mistakes and how to avoid them. Many freelancers and self-employed people will face a larger amount owed to IRS due to the deadline extension. Saving on the paid taxes is a good way to improve your cash flow. Systematic … [Read more...]

There is a common misconception that saving as much money as possible will bring the most happiness and life satisfaction as possible. However, this is not the case. In fact, savers might have the wrong focus. Financial freedom is the key to happiness and satisfaction. It is important to consider a number of things before you dedicate your life to saving for things, one of the most important being … [Read more...]

For landlords, rental properties draw small margins, so it's important to set the rent at a proper price. The best place to start is to scope out other rental properties in the neighborhood to determine a competitive starting point. Then, landlords should use online tools to compare their property to others. Certain properties and areas will have small pockets of higher-priced housing, so … [Read more...]