As featured in The Wall Street Journal, Money Magazine, and more!

July 2012


A former boss of mine, high up the corporate ladder in an insurance company, often complained about his own industry. “Insurance companies make money by not providing a service to their customers.” That is, insurance companies make money by collecting premiums and paying out the least amount of benefits possible. Of course, there’s a tough balancing act; if an insurance company becomes known for not paying out benefits, they could lose many customers, although a good advertising campaign focused on low-price premiums could counteract that mass departure.

Shareholders are concerned with profits and dividends; customers are concerned with service and the product. If an insurance company were structured so that all owners were also customers, these two competing priorities would be better aligned.

Nationwide MutualRecently, Jay Frosting, host of the Consumerism Commentary Podcast, wrote on Twitter:

Been seeing ads for Nationwide Insurance highlighting their lack of shareholders. Hadn’t seen that before. And it might work on me.

Nationwide’s status as a mutual insurance company means that the owners of the company are its policyholders. In financial structure, it’s similar to a non-profit organization. The company wants its payouts to match its premium collection as much as possible. With mutual companies, excess premiums at the end of the year are often returned to the customers or are used to adjust future premiums. All policyholders have a vote in the company’s operations. Most importantly, there is no pressure from Wall Street to meet arbitrary financial targets every quarter.

A company I used to work for went through a demutualization process, where policyholders became shareholders and the company’s shares began trading on the New York Stock Exchange. With more external scrutiny on the company’s financial statements, the corporate executives reined in the spending. Benefits to employees were among the first things cut — not necessarily health benefits, but the extra events and activities companies organize that make working for a company something beyond ordinary. Then the company reduced its standard employee benefits like health insurance.

Going public allowed the company to grow in a way it hadn’t been able to before. It was quickly becoming an international company and continuing its expansion beyond insurance, and with its shares trading on the stock market, it’s possible that this access to equity markets allowed the company to expand its growth.

Existence as a mutual company has disadvantages, as well. While policyholders have a vote in the company’s management, many do not exercise that vote and are not involved enough in the corporation to know what’s best for the company and its owners. Policyholders are in a less powerful position than the institutional investors who have the most say among external shareholders in a public company’s operations.

Pressure from Wall Street to perform can be a good thing; while a mutual company may be free to spend as much as it wants on parties as long as policyholders receive a rebate, a public company would be encouraged to cut back expenses. Having shareholders is a bigger incentive for lean operations than ownership among policyholders.

Regardless of an insurance company’s benefits for being a public company, the bottom line is the conflict between shareholder and customer priorities. When the customer is also the shareholder, there is no conflict, and this should be a consideration when choosing an insurance company. There are certain companies who would like you to believe that the only important aspect of an insurance company is the cost of the premium. This is why there are so many advertisements practically guaranteeing that customers switching will save money. The endless search for the company with the lowest premiums ignores the fact that some companies are more likely to refuse to pay claims. You want a company that does more than collect your premiums.

Nationwide Mutual’s choice to focus on the non-public aspect of the company is a wise choice, but the advertising — and the fact that it is a mutual company — doesn’t necessarily mean that it would automatically be a better choice. The chosen emphasis highlights that Nationwide recognizes there is a conflict of interest between customers and shareholders among public insurance companies. Customers want their claims to be paid, while shareholders want only enough claims to be paid to ensure customers don’t leave. However, without Wall Street scrutiny, mutual companies may not be operating as efficiently as possible, providing smaller rebates or premium price decreases than dividends would be if the companies were public.

Choose an insurance company based on how you predict it will handle your situation. With automobile insurance, you want the company to have a good record of paying claims, whether it’s a mutual company or a public company. Don’t shop solely on price, and don’t become a policyholder of a company just because it doesn’t answer to Wall Street.

There’s no worldwide database that allows shoppers to compare insurance based on claim track records, but that is the best way to evaluate a company when choosing insurance, but there are a number of helpful resources online.

  • Consumerism Commentary sister site insure.com has compiled a lot of customer satisfaction data, and can present the information for comparison within auto, home, life, and health.
  • J.D. Power and Associates has a wealth of insurance related information from consumers’ perspectives. The magazine compiles claims satisfaction survey results for auto insurance and home insurance.
  • Most states put insurance satisfaction data online. The State of New Jersey Department of Banking and Insurance helps compare premiums and complaint ratios for auto insurance, as well as more information for other types of insurance.

I’ve never given comparison shopping a chance. When shopping for auto insurance, once I had the freedom of choice, I followed AAA’s recommendations. For home/renters’ insurance, I chose the same company as my auto insurance. The company, Liberty Mutual, is a mutual company with, as far as I can tell, no immediate plans to go public.

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While there are great advantages to buying a house with cash, sometimes the benefits of using other people’s money outweigh those advantages. While debt is often rightly characterized as bad for one’s personal finances, there are situations in which it can be less bad.

If you can qualify for a mortgage that starts out at 1.05%, you ought to take advantage of the opportunity.

There’s risk, of course. The low interest rate could be higher when the rate adjusts in three or five years, but if the same conditions that allowed you to qualify for that rate continue, you’ll most likely be treated as favorably when the time for adjustment arrives.

Unfortunately, you probably won’t be able to qualify for an interest rate that low, even on an adjustable-rate mortgage, unless you’re Mark Zuckerberg, literally. The founder and CEO of Facebook just refinanced his mortgage on his $6 million home in Palo Alto, California with First Republic Bank, and was offered a rate of 1.05% to do so.

Unless you have some special qualities, adjustable-rate mortgages operate more like bait and switch. As I’ve seen in the past, up-front interest rates sounds great, and are useful in encouraging customers to consider expensive refinancing, where banks make money today from refinancing fees and later when the teaser rates expire. Average consumers are hit with a major increase in monthly mortgage payments when the rates are recalculated. The rules are different for Mark Zuckerberg.

With the net worth and notoriety the rock star CEO has achieved, he doesn’t need to shop around for mortgages. Banks want his business and are willing to offer favorable terms in order to compete for Zuckerberg’s attention. First Republic Bank doesn’t need to earn money on this mortgage. Just the news that they offered this rate to the CEO of Facebook will give them enough press that other wealthy individuals are likely to seek out this bank’s services.

A loan with an interest rate of 1.05% is practically free money. If you have the opportunity to borrow someone else’s money at that rate in order to finance an investment that has a great chance of beating that rate in terms of income or appreciation, it only makes sense to do it. Mark Zuckerberg’s mansion qualifies in that category. As long as he retains his reputation, his name on the roster of past owners likely increases the property’s value without any help from improvements or market appreciation.

If you want the same advantages Mark Zuckerberg receives, you may want to consider some of these tips. Zuckerberg meets at least some of these conditions.

1. Be an executive or founder at a major corporation. If you can succeed in business without really trying as well as Mark Zuckerberg did by starting a dating website in his college dorm and growing it into one of the biggest companies in the world, banks will be crawling to you on their hands and knees for your business. They’ll want to underwrite your company’s IPO. They’ll want to offer you, personally, products reserved for the elite of the elite.

2. Have a sky-high net worth. In 2009, Mark Zuckerberg’s wealth dropped below $1 billion according to Forbes. He was out of the club, but he showed the world the following year with a net worth of $4 billion. The 2012 list of the richest Americans has not yet been released, but estimates would put his net worth around $16 billion this year, following Facebook’s public stock offering. You don’t have to have $16 billion ready to invest in order to receive preferential treatment from the finance industry. In most cases, $1 billion would be enough — perhaps not enough for a mortgage rate around 1%, but enough for select products.

3. Remain loyal. Banks, in an effort to generate more profit from each well-off customer, reward loyalty. The best terms are reserved for the “best” customers. This is true even at the smaller scale. Even Vanguard, an investment bank for everyman, offers significant discounts for those who invest over a certain amount in their mutual funds. The best expense ratios are reserved for this company’s Admiral Shares. If you have the capability of spending more with a bank, they will offer whatever is possible to encourage loyalty, and then reward that loyalty.

4. Be in the news. If everything you do is being watched by the public, companies will move mountains to work with you. Being identified with a celebrity in the press brings with it free public relations. Mobile Resource Card saw a potential in the Kardashian family when it released a co-branded prepaid debit card. The product was widely panned, and I called it possibly the worst financial product of the year thanks to its fees. The Kardashians, however, were likely paid very well for the association of their brand with the product — at least they would have been if they didn’t later speak out against the card.

If, however, you’re in the news for something more noteworthy than reality television, and if you have a strong reputation, the products you’ll be able to align yourself with will be of a higher quality. Whether these come in the form of spokesperson opportunities or just great terms on products you need, your celebrity status will be a great asset. The asset, however, will be as fleeting as your positive image. Break a few securities laws, murder your spouse, or intentionally damage the environment in an unpopular way, and the preferential treatment will disappear in an instant.

Perhaps you, too, will qualify for a 1% APR adjustable-rate mortgage, assuming you offer the same benefits to the bank as Mark Zuckerberg does.

Photo: Donkey Hotey
Bloomberg, Forbes

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If you have the option, owning assets that produce income is a better financial strategy than owning assets that generate expenses. If you own a house or apartment for your own residence, for example, you need to pay for maintenance, repairs, taxes, mortgage interest, landscaping, utilities, or a homeowner association fee that covers some of these expenses. If, however, you own a house or apartment available for renting or lease, you can generate income with the property, and in some cases, end up with positive cash flow after all those expenses are paid for.

Being a landlord is a viable vocation; after all, landlords exist for every rental tenant, and they often thrive financially. Sasha, a former writer for Consumerism Commentary, owns several properties. She shared tips for buying a rental property for prospective landlords based on her own experiences.

For RentSucceeding in the business of rental properties requires a certain set of skills and desires, and making a living isn’t always as easy as others would lead you to believe. If you want to earn a living, for example the equivalent of a $50,000 salary, you’ll need to profit more than $4,000 per month. That’s a lot of pressure. Consider these questions and tips before you decide to get into the rental property business to determine if you have what it takes to be a landlord.

Do you like “doing it yourself?”

If you’re a handy person who likes doing your own work around the house — light plumbing, perhaps some construction, yard work, and so on — you might be a good candidate for becoming a landlord. If you’re just starting out, it may be too expensive to handle outside contractors if you expect to turn your rental income into profit. Doing the work yourself saves money.

Do you know the right people?

If you plan to expand your property portfolio beyond one or two locations — and if you want to earn a living, you’ll likely need to expand quickly — you’ll reach a point where you can’t handle all the work yourself. You’ll need to call in trusted contractors, and if you have personal relationships with contractors, you’re in a better position to negotiate discounts and enhance your overall profit. These relationships take time to build, and it takes time to find the best people to hire for the work. If you’re able to begin your adventure as a landlord with these relationships already formed, then you’ll be in a much better position.

The same is true about real estate agents. If you have connections in this business, you will have better access to potential tenants, reducing your advertising costs. Word of mouth is incredibly important, and knowing agents can remove some obstacles before you even get started.

Can you handle the 24-hour responsibilities?

Hiring a company to manage your properties is an expense that cuts into your profit. Depending on the location, you may be able to afford this from just your rental income. If that’s the case, work with a property management company who will answer the phone at any hour to fix any household problems that arise. Otherwise, be prepared for calls in the middle of the night. If you’re starting your adventure with rental properties while working at another job, you will find yourself with competing priorities often.

Do you like dealing with people?

Some tenants can be difficult, and in most states, tenants have legal rights that level the playing field in disputes. If you’re able to screen tenants well and have a choice of potential residents, you can carefully choose who will be living in your house or apartment. If, however, you need to fill a vacancy to prevent losing money every month and there aren’t enough tenants interested in the property, you may have to accept a tenant you might not like to prevent negative cash flow.

Even if you believe you’ve chosen well, dealing with strangers is not for everyone. Tenants will certainly not care for your property as much as you would if you were to live there. Even nice people can surprise you in a tenant/landlord relationship. To become a landlord with a successful business, you’ll need to be able to deal with people who might be different than you in terms of values and personality.

Do you have cash and savings to buy the properties?

The great thing about buying a house with cash rather than seeking a mortgage is that you can eliminate the expense of the mortgage payments. Every cent of rental income you receive, after maintenance expenses are paid, is profit. That can make the difference between a rental property business that succeeds and one that struggles.

Leveraging your property purchase by using other people’s money — a mortgage — can turn out to be profitable when property values increase, but that’s not guaranteed. Loans open up the possibility of becoming a landlord to more people, easing the affordability of properties. Having the cash to buy the property outright is not necessary, but if you have the money and are willing to invest in your own business, it will be much easier to generate a positive cash flow.

Can you charge high enough rent to cover your expenses?

In some locations, monthly rental properties are very competitive. That can drive down prices, decreasing your profit. If you’re competing in an area where most investors own their properties outright without a mortgage while you do have mortgage expenses to contend with, you have less pricing flexibility than your competitors have. You need to charge high enough rent to cover your expenses and take home a profit.

With mortgage payments to contend with and a tough competition, you may only be able to profit $200 to $400 per month on a property. That’s $4,800 a year, a far cry from the $50,000 we’re talking about for earning a living. You’d need to own over 10 properties profiting $400 per month in order to reach that target. With volume, you may be able to increase that per-property profit due to economy of scale, buying materials in broke, and receiving significant discounts from contractors. You might be able to reach the annual income target faster, but it will still take a long time to reach the number of units necessary. Use this mortgage calculator to assist in determining how much profit you might generate.

In other locations, though, you can charge much higher rent compared to the purchase price or mortgage payment. Property prices still tend to be high in New Jersey where I live, so potential for profit isn’t as great. Head to other areas of the country, and you can buy properties that command rental fees of $1,000 or more for just over six figures. If your monthly mortgage payment is $350 and the rent you can successfully charge is $1,000, your path to earning a living of $50,000 annually just got much clearer and shorter. With some time and volume, you could easily exceed this.

How much work are you willing to do for an extra $400 a month?

Work at the beginning may pay off when you add additional properties, but the path to millionaire status through rental properties is not as simple as television shows on HGTV might lead to to believe. You may profit in terms of your financial statements, but if you consider your time and your sweat equity worth something, the calculation gets a little trickier, particularly when you’re doing more work to get started.

Even in markets were home prices have remained relatively high, it’s possible to earn a living with rental properties. The work isn’t for everyone, and that’s good; those who are willing to put the necessary labor into creating a successful business will be rewarded. Earning a living isn’t as easy as being a landlord for one property, however.

Are you earning a living through rental properties? What lessons have you learned? If you’ve considered becoming a landlord but have decided against it, what held you back?

Photo: Charleston’s TheDigitel

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How are your prognostication skills? Do you have a direct connection to the spiritual world or an uncanny ability to predict the future? Someone with these skills and an individualistic drive, and perhaps an advance edition of Gray’s Sports Alamanac, could ensure the financial stability of his or her future.

The rest of us without supernatural powers and without help from a time-traveling friend can only make financial decisions affecting the future on assumptions and best guesses. When it comes to choosing between the two flavors of IRAs, Traditional or Roth, that’s the best we can do.

Looking at my balance sheet, I’ve had IRAs all over the place. I didn’t start one until I was 26 years old, and I wish I had started earlier. Motivational speakers say that you can find a way to invest regardless of your income, even if it’s just a tiny portion. Out of college, I wouldn’t have ignored such advice as my initial salary at a non-profit did not even pay for my commute to work. (I could have moved closer to work, which I eventually did, but then rent costs would have hurt me just as bad; I could have shared a house with a multitude of roommates I didn’t know, but I drew the line there. There’s always an excuse to make, but there’s also a line.)

Since then, I’ve chosen mostly Roth IRAs, though I’ve ended up with Traditional IRAs after changing jobs from each employer to the next. And while I worked on my own, I invested in Traditional IRAs.

The IRA (Individual Retirement Agreement or Account) would be one of the fundamental retirement vehicles available in the United States. It is designed to encourage people to think about the future by providing tax incentives for investing or saving. Social Security, a system designed to assist an aging society, can’t on its own keep those who are too old to work out of poverty. The IRA encourages some personal responsibility.

An IRA can contain just about any type of investment. You can use it for risk-free savings, particularly in the form of certificates of deposit, or you can invest in individual stocks, ETFs, and mutual funds. You can even find opportunities to use your IRA to invest in hard assets like real estate and precious metals.

Traditional IRAs offer savers and investors a tax deduction today, with Roth IRAs push that tax advantage until retirement, when you can withdraw your principal and earnings tax-free. The first question in this decision does not require future assumptions.

Is your income under the tax-deductibility limit? This year, your ability to take advantage of the tax deduction begins to phase out once your modified adjusted gross income reaches $58,000 ($90,000 if you’re married) and completely disappears at a level of $68,000 ($110,000 if you’re married). If your income is above these limits, you can contribute to a Traditional IRA, but you won’t receive the full tax deduction.

Are you allowed to contribute to a Roth IRA? There is another income limitation. Roth IRAs are only available to people earning under a specific amount. Single filers can contribute the full $5,000 to a Roth IRA if their income is below $110,000 ($173,000 for married filing jointly). The maximum investment phases out until income reaches $125,000 ($183,000 for married filing jointly).

Will your tax rate be higher when you’re in retirement? Ever since the regulation that allowed for Roth IRAs was enacted, financial professionals began encouraging young workers to enroll. At the start of a career, a young employee could likely be at the lowest income level of his or her life. They could also be in the lowest tax bracket they’ll ever see. A tax deduction on $6,000 of income in the lowest tax bracket is not as worthwhile as a deduction on $5,000 of income in the highest tax bracket. If you expect your tax rate to increase, pay tax on the $5,000 directed to your Roth IRA today in order to withdraw your principal and earnings tax free when you retire.

There are many assumptions built in to the above reasoning as well as variables that might change. Congress may decide to change the rules for Roth IRAs, making withdrawals in retirement taxable. That could defeat the purpose of forgoing the Traditional IRA deduction today. If you presume you won’t be in a higher tax bracket in retirement, you may be wrong, as some economists believe tax rates will need to be much higher in the future in order to support society’s needs.

Is there a possibility you might need to use your investment soon? With a Roth IRA, you can withdraw your contributions before retirement without paying a penalty in some circumstances. With a Traditional IRA, you’ll need to pay tax on your withdrawals. This could come in handy if you don’t have an emergency fund (you should have an emergency fund) or if your cash becomes depleted for some reason.

Will you live until retirement? If you love high-risk, extreme activities, perhaps you won’t need money in retirement. In fact, the farther you are from typical retirement age — the younger you are — the more likely there is a chance of your retirement being very different from what Americans have known as retirement over the last couple of decades. You may need to work longer, though saving today for retirement can partially offset that need. You may never want to retire, working on something you enjoy until the day you die. It’s hard to say what life will look like 30, 20, or even ten years from now.

Don’t let this decision stop you from investing. The best thing to do is open an IRA as soon as possible if you haven’t already. To generalize, because sometimes that’s easier than actually thinking, if you’re young, investing in a Roth IRA; if you’re older and have established retirement assets already, a Traditional IRA may be the better choice. Work with a company like Fidelity, Vanguard, or TIAA-Cref (avoiding their annuities) that lets you open an IRA immediately even without a sum of money ready to invest. Some companies allow you to start with a small amount as long as you set up a recurring investment.

Photo: Pop Culture Geek

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Is Going Public Ever a Good Idea for a Company?

by Luke Landes
Peet's Coffee

Facebook recently went public. Mark Zuckerberg and the other owners might not have wanted to open the company up to a wide pool of investors, but the company had grown so large in terms of the number of private shareholders that it would have needed to release its financial statements publicly anyway. Through this process, ... Continue reading this article…

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Is Pursuing a PhD or Professional Doctorate Worthwhile?

by Luke Landes
Professor

I’m at a point in my life right now where I have some flexibility with my personal choices. Thanks to growing a business, I’m able to look at a wide array of options in front of me — things to to do that will keep me busy, intellectually stimulated, and financially self-supporting, in addition to ... Continue reading this article…

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Planning to Work Into Retirement

by Luke Landes
Beach chair

In a world where employees can’t rely on long-term relationships with their employers, most of which no longer offer relatively safe retirement protection through pensions, planning for retirement, at least for the younger demographic in today’s workforce, is substandard. People do start thinking about their future as time goes by, but often, the appropriate planning ... Continue reading this article…

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Plutus Awards, Education Vs. Skills, Grown-Up Jobs, and More

by Luke Landes

This September, the Plutus Awards will be coming to the Financial Blogger Conference. Consumerism Commentary is part of a wide community of blogs focusing on personal finance, money management, personal investing, and retirement. Personal finance blogs provide an alternative to traditional financial media, and the audience for this alternative type of media has expanded greatly ... Continue reading this article…

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Capital One to Pay $210 Million Including Refunds and Penalties

by Luke Landes
Capital One

The Consumer Financial Protection Bureau struck Capital One hard this week. The consumer protection agency has found that the credit card company improperly marketed add-on products to its customers. Because of this behavior, Capital One has agreed to pay refunds to 2.5 million customers totaling about $150 million, in addition to a $25 million penalty ... Continue reading this article…

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Stating the Obvious: Don’t Share Pictures of Your Credit and Debit Cards Online

by Luke Landes
NeedADebitCard Twitter

I’ve shared a lot of personal financial information over the years at Consumerism Commentary. This site’s original purpose was to hold myself accountable for the financial decisions I would make, and I did so for many years by publishing monthly reports that included my net worth. From these, readers could determine bank account balances, credit ... Continue reading this article…

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Credit Card Users May Pay an Additional Fee

by Luke Landes
Credit cards

When retailers and credit card issuers argue about fees, does the consumer win? The consumer is generally ignored in these discussions. Businesses are controlling the dialogue. Businesses, particularly small businesses that rely on profit margins more than volume, were successful in getting regulators to restrict “swipe” or interchange fees. The fees credit card transaction processing ... Continue reading this article…

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Amazon Prime Loses Money But Is Considered a Success

by Luke Landes
Amazon

I haven’t always been a fan of Amazon.com as a company. There was a time early on in the company’s ascent that its innovators pushed through a patent application for the process behind its one-click purchasing mechanism. It seemed to be such a basic feature for any e-commerce website, including websites in existence before Amazon.com, ... Continue reading this article…

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Where Dave Ramsey’s Debt Snowball Fails

by Luke Landes
Snowball

I’ve written extensively about how Dave Ramsey’s “Debt Snowball” does a disservice to families and individuals struggling to get out of debt. By acquiescing to the emotions of money, those who most need to separate emotions from their financial decisions don’t. Not everyone who is in debt are in that position due to emotionally-driven decision ... Continue reading this article…

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Tuition Reimbursement: A Benefit for Some Employees and Employers

by Luke Landes
Columbia University

Happy anniversary to Consumerism Commentary! Nine years ago today, I published the first article on this website, introducing myself and sharing the original purpose of Consumerism Commentary. The character of the site has changed drastically over this extended period of time, but I’m glad to say I’m still involved with its operation. Thanks for everyone’s ... Continue reading this article…

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Disney’s Premier Visa from Chase review

by Joe Taylor Jr.

Though I tend to prefer cash back credit cards, a really specific rewards card sometimes comes up with an irresistible offer. Disney’s Premier Visa Card from Chase sounds off the bat like something that would only cater to hard-core fans of the Magic Kingdom. After all, it’s not everyone who can pull off paying for ... Continue reading this article…

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Can You Afford to Stay Home With Your Kids?

by Mike Collins

This is a guest article by Mike Collins, creator of Wealthyturtle.com. In the article, Mike explains how he and his wife decided to become a single-income family and he shares some useful advice for those struggling with the same decision. Most new parents will at least consider the idea of living on a single income ... Continue reading this article…

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Be Generous to Reduce Your Estate

by Guest Author

This is a guest post from Michael Maye at our partner site TheStreet.com By Michael Maye Individuals looking for a simple and effective way to reduce their future taxable estate should consider the annual gift exclusion. What is the annual gift exclusion and how does it work? Every U.S. citizen is allowed to give anyone ... Continue reading this article…

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Podcast 167: Women and Success

by Luke Landes

Today on the Consumerism Commentary Podcast, Tom Dziubek talks with Ellyn Spragins, speaker, author, and editor of the Letters To My Younger Self series of books. Ellyn talks to Tom about how women differ from men in regards to success, especially regarding finding and developing their inner talents. They also discuss her “Letters to My ... Continue reading this article…

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10 Ways to Save Money on Air Travel

by Guest Author

We’ve been enjoying the middle-of-the-week holiday for more than one day, so we’re going to share a guest post from partner site MainStreet.com. By Jeanine Skowronski Airfare certainly isn’t cheap. According to a report from the Federal Aviation Administration, increased demand, coupled with major airline mergers, will lead to higher tickets prices through 2012 and ... Continue reading this article…

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The Delaware Tax Loophole

by Luke Landes
Delaware Memorial Bridge

Have you ever wondered why there are so many banks headquartered in the state of Delaware? This small state — where I happened to spend four years of my life while at college — is friendly to businesses. For a century, Delaware has boasted friendly tax codes and lax incorporation laws, inviting savvy business owners ... Continue reading this article…

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