How incredible would it be to have a completely tax free retirement? I’m serious. You would owe no taxes. No, you won’t have to live in poverty. In fact if you’ve got enough savings you could withdraw over $100,000 and still not owe the government any money. Is that even possible? Of course it is. Lots of wealthy Americans take advantage of tax loop holes every day to pay a lower tax rate than their peers. There’s even a famous statement from Warren Buffett where he says that he is paying a lower tax rate than his secretary. Fortunately for you, we’re going to do a little better than that in this post. We’re going to see if we can’t find a way to pay NO taxes at all! All we’ll need is to be creative with how we plan to … [Read more...] about The Ultimate Guide to How to Have a Tax Free Retirement
The Pros and Cons of Brokers When You Try to Sell Your Annuities
Somethings your investments just don't work out like you planned, and you might decide it's time to sell your annuities. But selling a structured settlement can be a tough task, especially because of the mandatory court approval requirements, and the involvement of other stakeholders such as claim adjusters, attorneys, and of course, buyers. In addition to all this, you also have to decide whether you want to opt for the services of a broker. So how do you know if using a broker is the right decision? Pros of having a broker help you out to sell your annuities: Accurate representation of technical information about your settlements so that there are no last minute shockers – There is a lot about your structured settlement … [Read more...] about The Pros and Cons of Brokers When You Try to Sell Your Annuities
How Do You Really Want to Make Money With a Blog?
Why do you write for your blog? You might say that you’re doing it all for fun. You might say that you just like to write or that you’re helping people. But you can be honest … you were probably hoping to make money with a blog, right? Perhaps you were only hoping for a few bucks. Perhaps you were hoping for a whole LOT more (like how Pat Flynn made over $58,000 last month)! But no matter what your goal is (or will be), I think we can all agree that we were hoping to at least make some amount of money with our blogs. And so how will we do that? By writing awesome stuff and earning more traffic of course! Or is it? …. Do You Want to Just Blog or Make Money With a Blog? So you write amazing posts … So your … [Read more...] about How Do You Really Want to Make Money With a Blog?
Using a Pro for Your Blog or Side Business Taxes Can Be a Great Investment
This year I paid around $300 to have my income taxes prepared professionally. Usually I pay around $20 to file them online all by myself. Do you think I’m going to regret paying an extra $280 more? Maybe … if I was penny wise but pound foolish. If you’re a blogger who earns an income, a freelancer, or make any kind of money on the side, then you should listen up and think about if you’re really qualified to handle your own side business taxes. As it turns out – that could be an assumption that costs you thousands down the road. Handling My Own Blog Side Business Taxes: I’ll be honest – I’ve never really felt too good about preparing my own “business income” taxes. The personal / individual taxes don’t really … [Read more...] about Using a Pro for Your Blog or Side Business Taxes Can Be a Great Investment
Niche Website Update 15 – A Slow Start for NS4 and $935 in Passive Income!
It’s official: I finally have a website that is NOT about personal finance. My latest creation, niche site 4 (which we’ll call NS4), is up and running. For those of you who are new to my updates, this creation is an Amazon based niche website that centers around the theme of music and musical products for sale. This is latest addition to my collection of niche sites that I've been building and promoting to help bring in more passive income. For this creation specifically my intended goal for this project is to create a website that uses Amazon as its primary source of monetization rather than Google Adsense. Lots of people who build niche sites claim that they get a far better return with the Amazon Affiliates program than they do … [Read more...] about Niche Website Update 15 – A Slow Start for NS4 and $935 in Passive Income!
So Long AAA! Lowering the Cost of Car Insurance in My House
What do you say to the car insurance company you’ve had for the past 10 years when they won’t budge on their rates? Don’t let the door hit your butt on the way out! That’s exactly what I forced to say recently to my insurance provider, AAA, when they refused to negotiate down on the cost of car insurance for our household. Even though we gave them the chance to hold our business, we ultimately had to come to the decision to shop around only to discover that there were far better rates for basically the same amount of coverage. Here’s what happened. Reducing the Cost of Car Insurance: Frequently in the MMD household, we like to choose one bill from our expenses and pick on it. When the mortgage bill seemed too high, … [Read more...] about So Long AAA! Lowering the Cost of Car Insurance in My House
Tips for Getting by Without Borrowing Money
The following contribution is from a reader of My Money Design. If you’d like to write for us, please feel free to contact me. Borrowing money is usually one of those things that sounds great at first, until the bills start coming in. If you take a look at just how much money you have to repay for the amount you borrowed, you will realise how much money you may have wasted on interest. If you would have planned ahead before borrowing money, you would now have more cash available to purchase other things you want. The problem is that debt often turns into a never-ending cycle of outstanding debt as you continue to accrue more and more interest. Many people may spend their entire lifetime trying to climb out from under their pile of … [Read more...] about Tips for Getting by Without Borrowing Money
How I Work With a Social Media Virtual Assistant to Promote My Money Websites
Properly constructing and growing your money websites has become a very popular topic on my blog that we use as one of our many side income creation methods. Anyone who follows my regular niche website updates knows making these kinds of sites is not a one-step process. You CAN’T just put it up and hope people will come. There are many steps and actions that need to take place before you can ever expect to see even $1 earned from this effort. Recall that the formula for success with these types of websites is: Write quality content -> Boost the visibility of your posts in the search engines using proper SEO and quality link building -> Increase the chances that someone will visit your post and click on one of the … [Read more...] about How I Work With a Social Media Virtual Assistant to Promote My Money Websites
