Personal Finance Mastery

Ever wonder which college savings plan is right for your child?  Through the myriad of choices, it can be quite complicated to figure out which plan makes sense to your specific financial situation.  In this 3-part series of  blog posts, I will talk about the types of college savings plans available.  
There are generally 3 [...]

Here are 9 Tax Deductions that expired at the end of 2011; for the millions of Americans that use these deductions you will find yourself with a higher tax bill the following Spring when you do your 2012 taxes.
MORTGAGE INSURANCE PREMIUM DEDUCTION
Starting in 2006 new loans that required Private Mortgage Insurance (PMI) and the borrower [...]

An eye opening video about the the financial state of many Americans and yet in the end there is hope that we can persevere and master our personal finances and build the foundations for True Wealth. This is why I became a financial planner, this is why I created Personal Finance Mastery; I want to [...]

Traditional IRA’s are never joint accounts.  They are meant only for the individual.
There is no minimum age requirement to participate in traditional IRAs.  Your children can have a Traditional IRA as long as they have earned income.
However, you must be under 70 ½ in order to make contributions to a Traditional IRA.
The Traditional IRA must [...]

Everything You Need In Oder To Do Your Taxes
It’s that time of year again when W2’s are in the mail and everyone starts scrambling around searching for those receipts from last year and wondering will I get a refund or will I have to pay. The 2012 Tax Season has arrived and one of the [...]

Developing SMARTER goals will lead to a happier, healthier and wealthier you in the new year.
The new year has begun and millions of people around the world have set out to accomplish their New Year’s Resolutions, unfortunately many people will not be able to succeed and successfully accomplish the goals they set out achieve.
Why is [...]

The IRS has increased contribution limits to retirement accounts for 2012.  Below is a summary of the changes.
ELECTIVE DEFERRALS – Employer sponsored plans
The contribution limit for 401(k)’s, 403(b)’s, and most 457’s is $17,000 for 2012.
CATCH UP CONTRIBUTIONS
The catch up contribution remains unchanged at $5,500 for those age 50 and over.
SEP IRA’s/PROFIT SHARING/MONEY PURCHASE PLANS
The maximum [...]