Residual income is commonly confused with passive income. Although the two terms are often used interchangeably there are some important technical differences. Some people find it easier to think of residual income as cash flow. Whether you are working in Personal or Corporate Finance, a strong residual income is highly desired, because it is an …

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“Horrible Consequences the Financial Services Industry Has Planned for Your Retirement” “How do you think I’m going to get along…you took me for everything that I had and kicked me out on my own.” These are lyrics from the hit song by Queen but could just as easily be the words of millions of Americans …

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Americans are running out of money in retirement, and its not just by a little… there’s a big shortfall. It shouldn’t be this way, but sadly Americans have either not saved enough, or saved in the wrong places… maybe some of both. The typical IRA and 401k are just not cutting it. So what should …

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 Planning for the future is critical in a world of uncertainty. Now what if there was a life insurance policy that provided more than just the death benefit? What if it could help you meet your financial goals during your lifetime and help you set up your family for success after you pass? Well, let’s …

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Note: If passed into law, pending legislation could substantially change Roth IRA regulations after Dec 31, 2021 – especially relating to distributions and backdoor rollovers. How did it originate? What was it intended for? How can it be used? Is it a good financial strategy? Those are good questions. Listen Now on Wealth Talks as …

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CARES Act Impact on Retirement Plans and Your Once in a Lifetime Chance With high unemployment rates in the U.S., individuals are seeking access to savings accounts to sustain their family and/or business during the pandemic. Many are turning to their 401(k) retirement accounts as a financial safety net. Thanks to the CARES Act, many …

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Have you ever wondered, “Should I pay off my mortgage early?” Many homeowners ask this question because they want to get ahead financially.  My Mom and Dad paid off their first home in 5 years. They wrote a check and bought their second home with cash – a beautiful, 2 story brick home on 3 …

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According to the Social Security Administration, 90% of retired seniors depend on Social Security for at least one-third of their income.  More than 50% depend on Social Security for more than 90% of their income, and for unmarried persons, 45% depend on Social Security for 90% or more of their income.[1] Here’s the trap: One must …

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Procrastination is a killer!  It kills time, it kills ideas, it kills progress, and it kills opportunity.  In short procrastination kills the future. Interestingly, procrastination is not something that is easily identified, especially by those who are involved in it.  But the consequences of procrastination are similar to the consequences of losing something of value.  …

Continue reading “Your Money: No One Will Miss it ’til it’s Gone!”

Dr. Tomas McFie, Michele McFie, R. Nelson Nash and David Stearns discuss the Infinite Banking Concept