I encountered some pretty interesting data recently. The lifetime earnings of the top one percent, top five percent and top ten percent. A surprise … [Read more...] about Lifetime Earnings Top One Percent Surprise
personal finance
The Illusions of Entrepreneurship Professors
Late last year, I posted a couple of essays that defended Thomas Stanley’s Millionaire Next Door theory: Defending the Millionaire Next Door Theory … [Read more...] about The Illusions of Entrepreneurship Professors
The 50-something Entrepreneur’s Last-minute Retirement Plan
Recently, a friend (not a client) asked about getting started with a retirement plan. The awkward part of the question? Though successful in his … [Read more...] about The 50-something Entrepreneur’s Last-minute Retirement Plan
The Millionaire Next Door Business Plan
Last week, after reading the newest book in the “Millionaire Next Door” series, I critiqued the critics. More specifically, I pointed out how the … [Read more...] about The Millionaire Next Door Business Plan
Defending “Millionaire Next Door” Theory: What Stanley’s Critics Got Wrong
I recently read The Next Millionaire Next Door, the latest book in the “Millionaire Next Door” series started by Thomas Stanley and William Danko more … [Read more...] about Defending “Millionaire Next Door” Theory: What Stanley’s Critics Got Wrong
Section 199A Rental Property Trade or Business Definition
Section 199A potentially gives real estate investors a deduction equal to 20% of their rental income. Some real estate investor with, say, $100,000 … [Read more...] about Section 199A Rental Property Trade or Business Definition
The Retirement Saving Section 199A Deduction Connection
Note: This blog post has not been updated for the Section 199A final regulations that appeared over the 2019 Martin Luther King Jr. holiday weekend … [Read more...] about The Retirement Saving Section 199A Deduction Connection
Washington Estate Tax Worries? 3 Tips Save Thousands
Editor’s note: This week, attorney Raemi L. Gilkerson discusses the Washington estate tax and then the steps individuals can take to minimize this … [Read more...] about Washington Estate Tax Worries? 3 Tips Save Thousands
The Wisdom of Elders: Bogleheads Three Fund Portfolio
Last Thursday, Taylor Larimore sent me a copy of his new book, The Bogleheads Guide to the Three-fund Portfolio. Saturday morning, I read … [Read more...] about The Wisdom of Elders: Bogleheads Three Fund Portfolio
Right Way to Handle Inherited IRA Accounts
There’s a right way and a wrong way to deal with inherited IRA accounts. And in this blog post, I want to talk in general terms about the right way … [Read more...] about Right Way to Handle Inherited IRA Accounts