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You Can’t Take It With You

by Luke Landes
Beach

According to a recent study by the National Bureau for Economic Research, 46.1 percent of retirees die with a net worth of less than $10,000. There are two ways to achieve this outcome. The first is for those with a comfortable level of wealth in retirement. Wealth does an individual no good after he or […]

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Should Congress Eliminate the Capital Gains Income Tax?

by Luke Landes
Paul Ryan

Presidential candidate Mitt Romney has selected a running mate, Paul Ryan, who has proposed eliminating the income tax on capital gains. The Vice President of the United States doesn’t have the authority to change the tax law, of course, so there’s no reason to think this idea or the rest of Ryan’s fiscal plan will […]

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Earning a Living With Rental Properties: Should You Be a Landlord?

by Luke Landes
For Rent

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 […]

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Should Rich Families Leave Their Wealth to Their Children?

by Luke Landes
Cash

One of the great promises of the United States of America is economic mobility. In the Land of Opportunity, in theory, you can design your life’s economic fate. Immigrants from Europe looked forward to leaving economic and religious oppression in their past, as they came to the land that is or would become the United […]

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The Importance, or Lack Thereof, of Making Money

by Luke Landes
Cash in hand

In my article earlier today about the recession era bail-out programs, I touched on the idea that sometimes, there are methods to judge a decision outside of its immediate profitability. The bail-outs may have provided a return on investment for taxpayers or they might not have. The idea that the programs could earn money was […]

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One Million Dollars Isn’t What It Used to Be

by Luke Landes
Scrooge McDuck

There was a time the word “millionaire” carried cachet. According to the Oxford English Dictionary, the word was first used in French in the early eighteenth century and in English nearly a century later. Regardless of your station in French society in 1719, you would recognize a net worth of one million livres being notable. […]

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The Latte Factor: Your Spending Reflects Your Priorities

by Luke Landes
Latte Factor Coffee

The concept of the Latte Factor is one of the most divisive issues in personal finance. Money gurus get so worked up over whether the Latte Factor is a valuable lesson in money management that one might think the issue were as important as war, the national debt, or capital punishment. Most of the time, […]

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More Women Than Men Value Career Success

by Luke Landes
Career woman

A new survey by the Pew Research Center shows women have surpassed men in placing value on career advancement. Among 18 to 34-year-olds, 66 percent of women consider being successful in a high-paying career or job is one of the most important things or very important, compared to 59 percent of men. In 1997, 56 […]

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When Your Friends Become Social Sellers and Multi-Level Marketers

by Luke Landes
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I can’t completely fault companies like Amway, Mary Kay, and Lia Sophia. They know that friendship results in two important qualities: trust and guilt. These two qualities are important to companies because they make the process of selling products much easier. I find it relatively easy to politely decline — and hang up on if […]

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The Dangers of Motivating Kids Through an Allowance

by Luke Landes
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Parents who offer their young children an allowance or pocket money are helping to introduce the concept of money at an age when they are susceptible to ideas they will hold for the remainder of their lives. It’s a good idea to allow kids to gain exposure to to concept and application of income and […]

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