5 Amazing Events That Trigger A Tax Bill like Winning an Olympic Medal

How Winning an Olympic Medal Tiggers a Tax Bill

There are some crazy things that Uncle Sam wants to collect taxes on from you. Did you know that Michael Phelps and the rest of the US Olympians who earned a medal in the Olympics will owe the United States government taxes on their prize money under current law? Having a tax bill on these events just blows my mind. There are some other events and windfalls that can trigger a tax bill if you’re not careful. Here are five of the most random things that generate taxable income and a subsequent tax liability for you when it comes time to file your income taxes. 5 Great Win Falls That Trigger A Tax Bill Winning an Olympic Medal When you win … Read more

5 Personal Finance Lessons from Donald Trump 

5 Amazing Personal Finance Lessons We Can Learn from Donald Trump 

Since Donald Trump began running for president, stories of his many business successes and failures have taken a backseat to stories about his presence on the national political stage. Attaining billionaire status is no easy feat. And, regardless of how you feel about potentially having a President Trump for the next four years, there are many valuable lessons related to personal finance you can take away from the Donald. 5 Personal Finance Lessons from Donald Trump  Diversify Your Investments When asked about his wealth, Trump once said, “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” Trump indeed loved playing the investment game, and his venture into … Read more

3 Internet Business Ideas You Can Try Right Now

3 Internet Business Ideas You Can Try Right NowIf you’ve ever tried to list all the ways you can make money online, you probably know that there’s no way to even scratch the surface. Internet business ideas come in droves, and every day there are more ways to monetize your presence on the web.

From being Santa Claus for kids to running an affiliate marketing business, you can put just about any talent or interest to work online. Here are 3 Internet business ideas that you can try right now:

3 Internet Business Ideas You Can Try Right Now

1. Sell Information

Do you know how to do something? Are you an expert at finding the perfect hunting spot? Do you play an instrument? Have you kept your happy marriage going for multiple decades? Do you make the best fried chicken, hands down?

Any type of information can become a product to sell if you package it properly. You can draw from your career – maybe you have an advanced degree that isn’t being put to good use in your job. There is nothing stopping you from writing an eBook or creating a video that teaches others what you know, and selling that material.

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Modern Couple’s Money Guide, Well-Heeled and Rich By Thirty

Couple worried about the investing choices overwhelming them

Lesley-Anne Scorgie is the founder of MeVest, a money school helping North Americans reach their financial potential. She’s also the bestselling author of Modern Couple’s Money Guide, Well-Heeled and Rich By Thirty. Follow her @LesleyScorgie

The Modern Couple's Money Guide: 7 Smart Steps to Building Wealth TogetherWhat causes trouble in paradise isn’t who picked up their socks or took out the trash (though those things can be annoying too). It’s money; how it’s spent, saved, invested and given.

According to Capital One, 8 in 10 couples fight about money and nearly half feel their partner’s attitude towards money is different from their own . Monetary philosophies are deeply rooted in a person’s values, thus financial compatibility is as important as personality. “Money problems” are cited as a leading cause of divorce and are rarely about money . They’re representations of issues like independence, greed, trust, respect, and commitment.

Take for example a couple where one partner is a compulsive spender and the other is a saver. The saver is bound to feel like their honey is putting the couple’s dreams for the future in jeopardy just to keep up with the latest and greatest cars, clothes, shoes, home décor and more.

Meanwhile the spender has a YOLO attitude and thinks their penny pinching partner is a cheapskate.

In this scenario financial brawls are inevitable unless the couple learns to bridge their financial gaps by understanding where their partner’s views on money came from and by working together towards common financial goals.

How To Succeed With Money As a Couple

Play As A Team

Teamwork and financial boundaries are critical when planning your future with someone. Though you may not like to deal with financial matters, it’s irresponsible to ignore them. Consider the task of checking-up on your finances like regular maintenance on your car. If you care for your vehicle, it will run smoothly and for longer than if you neglect it. You don’t want to find yourself in a bad financial position you weren’t aware you were creating.

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All That You Need To Know About Income Replacement Life Insurance Products

Income Replacement Life InsurancePeople are often confused about what to do with the life insurance benefits they are entitled to receive after the policyholder’s demise – invest it to generate regular income, use a part of the lump sum each month until it lasts, or find another way to channelize the proceeds productively.

In fact, a nationwide study by Forbes LearnVest on Life Insurance revealed that 66% people do not fully understand their life insurance policies. This brings us to an important point – simply leaving behind a substantial amount as death benefit is not sufficient, your dependents must also know how to put that lump sum to effective use, failing which, they may face financial problems.

Policyholders may feel that a suitable life insurance product with a large sum assured is sufficient for their dependent family to achieve important life goals and maintain their lifestyle. However, the fact remains that regular expenses need to be met on a monthly basis, and a one-time lump sum may sometimes leave the beneficiaries puzzled about how to invest/use it, especially if they are not familiar with the financial mumbo-jumbo.

Income Replacement Life Insurance Products

Bearing this in mind, a large number of global life insurance companies have launched a new product variant of life insurance – an income replacement life insurance product. These products come to rescue, if the policyholder feels that his/her family may not be able to efficiently handle/invest the lump sum payout.

Income replacement products, upon the insured’s demise, pay out part of the benefit as a lump sum, and also pay a regular monthly income over a period, say 10-15 years. In other words, income replacement products split the entire sum assured into a one-time payment, plus a continued monthly payment as well. But what makes these products really interesting is the fact that the total amount, beneficiaries/nominees receive, over a period, is more than the sum assured specified in the policy.

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5 Tech Addictions That Are Dangerous for Your Wallet

How Tech Addiction Can Be Dangerous for Your Wallet

As technology continues to improve and offer new and exciting avenues for entertainment like Pokémon GO, more and more people become addicted to their phones, gaming consoles, and computers. A tech addiction is recognized as a real problem, and it accompanies alarming statistics such as: 60% of people admit they can’t go an hour without checking their phone, at least 31% of U.S. drivers have sent or read text messages while driving, and as of 2014, there were over 176 million mobile addicts (people who open apps on their phones more than 60 times per day). The problem has gotten so bad that there’s even an online group called Internet and Tech Addiction Anonymous that people who are experiencing symptoms … Read more