Say you have a destination in mind. And, as luck would have it, you also happen to have the best map in the world right there in the palm of your hand. Unfortunately, without also knowing your starting point, you can't get where you want to go. Financial planning works exactly the same way. You need to start at "ground zero" - with your current net worth - before you can … [Read more...] about Do you know your net worth?
Every serious investor knows it takes money to make money. Fortunately, tax laws allow you to deduct certain expenses associated with investments that produce taxable income. Generally, you can deduct investment expenses as miscellaneous itemized deductions, to the extent that your total miscellaneous itemized deductions exceed 2 percent of your adjusted gross income (AGI). … [Read more...] about Money Management