Author: Peter Locke
The Rich Man’s Roth
Life Insurance…. Let me guess, was your first thought, “are you serious?” If so, don’t worry mine was too. How could life insurance be like anything like a Roth? When I was first presented with the idea that life insurance
How do the rich pay less in taxes than you?
A large number, if not the majority of our clients at InSight come to us looking for ways to mitigate their tax liability. While a CPA will find backward-looking ways to lower your tax liability, our clients are working to
8 “Make or break” tax strategies for real estate agents and brokers to round out 2021
Key points in this article: The effects of rising home prices on Real Estate Agents tax liabilities Long-term methods for reducing your overall tax exposure Compensation alternatives that save on taxes We have been meeting with several real estate professionals.
President Biden’s 2022 Budget Request will change the way you plan
The three takeaways in this article: What you can expect regarding the Increase Capital Gains Rate How Estate Planning & Gifting will change next year How to use Tax Credits for parents and children While I was out to lunch
How much should you keep in the bank in relation to your investments?
Great question! So there are a couple of ways to think about this but I will give you what I believe are two simple strategies. One emergency fund + Investments OR The Three Bucket Strategy: First the Emergency + Investment
Do I need life insurance?
Most likely yes. Your financial and family situation will be the deciding factor. If you’re single, have a large amount of savings, and no dependents then life insurance may not be for you. The reason being, unless your savings cannot
Which debt should you prioritize paying off first? Smaller (car) or bigger (home)?
First, read Best way to get out of debt Now that you’ve read that you know that car debt is erosive debt. At InSight, if we can avoid erosive debt we do. With that being said, you still need to
Is there any positive financial reason to charge a credit card other than to raise my score?
Yes. Credit cards when used correctly (i.e. paying the entire balance off monthly) can give you incredible benefits. These include: Credit cards offer more protection giving you greater control over your money. Debit cards are riskier than credit cards. Money
What’s the point of a financial planner?
Organize: We’re all guilty of “knowing” where everything is but not piecing it together A big way planners can help out is by helping you simply organize your entire financial life. From insurance, taxes, investments, expenses, real estate, etc, having
Large savings account but not ready to buy a home yet, options?
This may be the most difficult time for savers looking to buy a home. As interest rates have plummeted making it more affordable to buy your home, it has decreased what you can earn in a savings account to pretty
How do I plan for retirement if I’m no longer working (stay at home parent)?
Being a stay at home parent is a vital role in the long term success of your family’s financial well being. Although your responsibilities don’t entail bringing in income, you do have a responsibility to maximize the income coming in.