What is the Difference Between a Will and a Trust?

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Thinking about your own death is often unpleasant yet unfortunately necessary.

When you die there are a certain set of rules that dictate how your assets will be distributed to your heirs.  Those rules are set by your state’s estate tax laws.

If you don’t want your assets to go to the state and likely take years to be doled out to your heirs then you need a will.  Some people may also need a trust, but a will and a trust are two different legal issues.

Finding out the difference can be pretty confusing and having the wrong type of legal protection for your assets can be a catastrophic estate planning error.

How are a Will and Trust Different?

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How to Take Charge of Your Financial Destiny

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With a new year underway, it’s time to seriously consider how you will take charge of your own financial destiny.

Too often, it’s easy to sit back and let someone else have too much control over your finances.

Instead of remaining a victim of circumstance, make it a point to take charge of your financial destiny in the coming year.

Taking Charge of Your Financial Destiny

Your Money Attitude is Everything

The first step is to pinpoint your money attitude.

Your financial attitude has a lot to do with whether or not your feel as though you can take charge of your financial destiny.  Many of us think of our finances as something outside our control.  We are worried that the boss will fire us.  The market is doing poorly and that is the reason our finances are failing.
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Tips for Holiday Tipping

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This week, I’m reviewing all of the people who provide me with services, and figuring out how much to tip them.  The following are my tips for holiday tipping.

At holiday time, it’s appropriate to tip service providers that you see on a regular basis.  And avoiding services in December in order to weasel out of tipping someone who provides you with services throughout the year is frowned upon.

Who Should You Tip?

The general rule is that you tip anyone who provides you with regular services throughout the year.

This includes newspaper carriers, hair stylists, elevator operators in your apartment building, babysitters and nannies, the UPS guy that regularly picks up packages from your business, and maybe even your postal carrier.

Some of the people on my tipping list include: Continue Reading

Thank the Troops This Holiday Season By Giving Back to Them

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There is probably no other holiday season that evokes a desire to be home, surrounded by family and friends more than the end-of-the-year holidays. 

For many American soldiers who are stationed far away, they can only dream about going home.  Not only do they experience a sense of longing for family and friends, but they also miss the creature comforts of home as well as the holiday rituals and celebrations.

American service men and women leave their families to protect and defend our rights, and they risk death doing their jobs.  The holidays are a perfect time to give back and tell the troops how much they are appreciated by doing something kind for them this holiday season.

There are many ways you can do this.

You can choose to simply make a donation, to send a card, or to make a longer term commitment to a troop member.  There are even organizations that let you donate to the needy citizens of the country where the troop member is stationed.

Here are Some Organizations to Consider Donating to and Give Thanks to Our Troops:

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Would You Sell Yourself to Pay for College (or Anything Else)?

During my freshman year in college, while visiting another college campus, I grabbed one of the school newspapers.  While looking through the pages, I noticed an ad, asking for women to allow their eggs to be harvested.

Women of average height, in good health, and possessing a good GPA were encouraged to basically sell their eggs.  Not only would the medical procedure be covered, but there was also a stipend involved.

The American Society for Reproductive Medicine points out that egg donors can receive between $5,000 and $10,000, depending on what is involved.

I was briefly tempted to participate.

I met the requirements listed in the ad.  I cut out the ad and took it back to my own school.  Then I did the research on what donating entails.  There are risks involved with becoming an egg donor, from health issues, to medical screening, to injections.

I decided that, between the scholarship and the student loans, not to mention the part-time job, I would be just fine.

But that experience has stuck with me, and I know that many others find that they can do reasonably well if they are willing to sell a little bit of themselves to help pay for college (and other things).

What Can You Sell of Yourself to Pay for College?

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How to Become a Millionaire

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Even though a million dollars isn’t what it used to be, the goal of becoming a millionaire is one that many still strive for.  If you have a net worth of $1 million, you are thought to have truly “made it.”

Becoming a millionaire doesn’t have to be hard, though.

In reality, the steps you take toward becoming a millionaire are actually fairly simple.  The theory behind becoming a millionaire is fairly easy to grasp, although actually implementing your plan can be a little more difficult.

Here are some of the basic things you can do to answer the question of how to become a millionaire:

1. Earn Money

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The Many Ways the Internet Saves (and Makes) You Money

Ten years ago the Internet used to be a luxury that wealthy families could afford, but now most have it. 

According to Nielsen, of the 80% of American homes that have a computer, 92% of them have Internet access.

With this access, they also have a powerful tool to save money.

Sure, we have to pay monthly for our Internet service, but my guess is that people who use the Internet wisely save at least as much as they spend for Internet access, if not more.

Have you given thought lately to all of the ways the Internet saves you money?

Here are just a few I came up with:

Ways the Internet Saves You Money

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