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Senator and presidential candidate Elizabeth Warren made the 50/20/30 budget plan popular in her book “All Your Worth”.[i]  In her book Warren outlines that you should spend 50% of your income to pay for things you absolutely need.  This includes: Housing costs Transportation costs Groceries, Clothing, and Utilities Insurance premiums Minimum debt payments on credit …

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Many budget systems give you a good feeling as you start, but cannot produce the sustainable results you need to build real prosperity. As an example take Senator & Presidential candidate Elizabeth Warren’s book which recommends a 50-20-30 budget system. This budget system reminds you of a typical government budget when you realize that only …

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How the 10-20-70 Budget System works and how to track it

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Budgeting EP.87

Type: podcasts

This week on Wealth Talks Tom and John talk about the keys to a successful budget. Listen to this episode and discover how a percent based budget can provide you more freedom and scalability than a traditional flatline budget based on fixed expenses. Transcript: Tom: Welcome to Wealth Talks where we talk about solutions, money …

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As the word “term” implies, Term Life Insurance provides coverage for a certain term, or period of time.  Like automobile insurance, home owner’s insurance or health insurance, premiums for Term Life Insurance coverage have to be renewed periodically, or the coverage will expire. Therefore, Term Insurance contracts are not classified as permanent insurance. It is …

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There are many retirement calculators that will tell you how much you need to have in order to retire. But there are no calculators that can guarantee how much money you will need in retirement.  That is because the calculators used in typical financial planning are based on some interesting assumptions.  For example, The 70% …

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What is the SECURE Act? The SECURE Act of 2019, was signed into law by the president on December 20, 2019. It is an acronym for the Setting Every Community Up for Retirement Enhancement Act. The act is a far-reaching law which will affect the way Americans can save for retirement when using tax-deferred accounts. …

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Most people think saving money is about cutting lifestyle and luxuries. This is certainly one way to save, but it is not the only way because where you save your money can make a big difference in how much you get to keep. 💵 Benjamin Franklin says, “There are two ways to increase your wealth. …

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From the story of the Tower of Babel in Genesis, through Greek Culture, even through the Dark Ages, and now through modern day Marxism in America, humans often think it is wrong to be wealthy. They think it might be better to redistribute the wealth. Maybe everyone could enjoy prosperity equally and fairly – it …

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Retirement Remastered – Smart Strategy for Passive Income in Your Golden Years by John McFie A Broken Retirement System It’s no secret that America’s retirement system is broken. The problem has been compounding for a few decades and it’s getting worse. It started with Company pension plans also known as defined benefit plans. These plans …

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