August 2021

Top 7 Mistakes Landlords Make Starting and How to Fix Them

Save Money and Time with Your Short-Term Rentals

If you’ve recently become a landlord or are considering purchasing a second home for renting purposes, you’ve likely been introduced to a large bevy of responsibilities and duties you never expected you’d have. You can also find many mistakes landlords make. While renting out your property can be an extremely lucrative business venture, many enter the realm of rentals without proper knowledge or education on the subject and find it’s not as easy as expected. We’ve laid out the top mistakes landlords make when they run into, and the things you can do to avoid them. Top 7 Mistakes Landlords Make 1. Lease Issues Leases are the single most important thing to have completed before allowing someone to live in your … Read more

How to Get Passive Income – Top 4 Easy Passive Income Ideas

by Hank Coleman

Lending Club Passive Income With Automated Investing

Wouldn’t it be great if you could make money while you sleep? This may sound like an impossible dream for many people, but a little upfront cash, research, and creativity can help you start earning a passive income within weeks or even days. Unlike an “active income,” which you make from working as an employee, business owner, or freelancer, a passive income stream is designed to make money for you with minimal to no effort. Everyone could benefit from having a passive income on the side. Either to supplement their working income or preserve their retirement savings. However, too few people take advantage of this lucrative opportunity because they mistakenly assume that passive income streams only come from scams like … Read more

It Turns Out Money Really Does Buy Happiness

by Guest Contributor

For those of us who aren’t millionaires, the phrase “money doesn’t buy happiness” is certainly a welcome one. Sure, being in the top 0.1% sounds great in theory. But they’re not any happier than the rest of us…right? Well, a study has been done into just that. And it turns out that, in fact, all those extra dollars do, indeed, lead to extra happiness. It’s perhaps not exactly the result you were hoping for, especially if you were looking at pictures of your billionaire of choice on a yacht recently and being sure they were actually miserable. But as you’ll see, there are actually some great lessons that the rest of us can take from this. Background For around a … Read more

Is It Time For You to Seek Out a Financial Advisor?

by Collaborative Poster

If you think it might be time to start getting your finances into better shape, you are not alone. This is a feeling that many of us have a lot of the time, and it’s something that, in truth, is always worth trying to achieve. The truth is that it is relatively straightforward to make huge improvements in your finances, but you do need to make sure that you are doing all you can to keep at it and have patience, which can very often be the hard part. However, one of the things you can do to make it easier is to seek out the help of a financial advisor. With a financial advisor, many things become a lot … Read more

Top 6 Surprising Tax Write Offs that New Business Owners Need to Know

by Hank Coleman

Taxes can be one of the most complicated parts of being a business owner, and the array of new changes that came out in the new tax reform bill in 2017 has seemingly complicated matters further for business owners. On one hand, there are exciting new incentives that entrepreneurial folks didn’t have access to beforehand, such as greater first-year depreciation levels (more on this below). On the other hand, the new tax bill eliminated several tax write offs that employees and employers alike would’ve preferred to keep, such as the deductions for job interview-related travel and entertainment deductions. Whether you’re a brand new business owner or a seasoned entrepreneur who’s still struggling to fully understand the new, post-2017 tax reality … Read more

Top 3 Simple and Best Passive Income Ideas for Retirees

by Hank Coleman

Whether you’re 10 years away from retirement or retiring this year, money management and saving don’t stop when your regular job income does. In fact, financial management in retirement can be a stressful experience if you don’t plan carefully beforehand and continue your saving habits during your golden years. To avoid the panic-inducing question of whether your current nest egg will last as long as you do, there are several retirement mistakes to avoid. Don’t increase your spending, pay attention to potential income opportunities, and never borrow money from your retirement account for nonessential purposes. Luckily, there are many ways to financially secure yourself and your spouse during your retirement years. Thankfully, these strategies don’t necessarily involve taking on a part-time job to … Read more