Comments on: I’m In A Good Position Financially, What Can I Do To Take My Personal Finances To The Next Level? http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/ A Guide to All Things Money For 20-Somethings: Investing, Finances, Careers, Retirement, Real Estate Fri, 21 Nov 2008 08:35:30 +0000 http://wordpress.org/?v=2.5 By: How To Buy Stocks In This Volatile Market (GP) | TheOnlyDevice.com http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-978 How To Buy Stocks In This Volatile Market (GP) | TheOnlyDevice.com Thu, 09 Oct 2008 17:41:26 +0000 http://20smoney.com/?p=131#comment-978 [...] I’m In A Good Position Financially, What Can I Do To Take My Personal Finances To The Next Level? [...] […] I’m In A Good Position Financially, What Can I Do To Take My Personal Finances To The Next Level? […]

]]> By: Oceanside Wealth :: Home http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-564 Oceanside Wealth :: Home Sun, 17 Aug 2008 18:02:51 +0000 http://20smoney.com/?p=131#comment-564 <strong>Oceanside Wealth :: Home...</strong> Nice Information very helpful... Oceanside Wealth :: Home…

Nice Information very helpful…

]]> By: Honey http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-514 Honey Mon, 04 Aug 2008 18:25:27 +0000 http://20smoney.com/?p=131#comment-514 I could be phrasing it incorrectly, but my boyfriend is an attorney and he says that any attorney worth his salt will tell you to never ever form a will but always to do a trust instead. I could be phrasing it incorrectly, but my boyfriend is an attorney and he says that any attorney worth his salt will tell you to never ever form a will but always to do a trust instead.

]]> By: Rob http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-513 Rob Mon, 04 Aug 2008 12:06:32 +0000 http://20smoney.com/?p=131#comment-513 @Honey -- since when? A will (or no will, known as intestacy), does not trigger a tax liability for the benficiaries. Taxes (assuming the estate is large enough to generate estate tax) are paid by the estate itself. As for the theoretical "trust" you're talking about, you had best set it up right if your want to achieve tax savings in the manner that meets your objectives. You don't do that with online forms. Please be careful. What you have just repeated is dead wrong. @Honey — since when? A will (or no will, known as intestacy), does not trigger a tax liability for the benficiaries. Taxes (assuming the estate is large enough to generate estate tax) are paid by the estate itself. As for the theoretical “trust” you’re talking about, you had best set it up right if your want to achieve tax savings in the manner that meets your objectives. You don’t do that with online forms.

Please be careful. What you have just repeated is dead wrong.

]]> By: Honey http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-500 Honey Fri, 01 Aug 2008 22:32:23 +0000 http://20smoney.com/?p=131#comment-500 Actually, a will is a bad idea because the beneficiaries have to pay tax on what they inherit. If you form a trust (which I'm not sure if you can do on LegalZoom or if you have to get an attorney to do for you), then as long as one member of the trust is surviving no one has to pay taxes on anything when another member dies. Actually, a will is a bad idea because the beneficiaries have to pay tax on what they inherit. If you form a trust (which I’m not sure if you can do on LegalZoom or if you have to get an attorney to do for you), then as long as one member of the trust is surviving no one has to pay taxes on anything when another member dies.

]]> By: kevin duffey http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-470 kevin duffey Mon, 28 Jul 2008 18:03:43 +0000 http://20smoney.com/?p=131#comment-470 Remember, a 401(k) is a must if company matching is offered. Don't refuse free money. After matching is maxed out, I agree with you on the Roth point. A financial planning course in high school would be incredible for the future of our country. I'm in total agreement there. Remember, a 401(k) is a must if company matching is offered. Don’t refuse free money. After matching is maxed out, I agree with you on the Roth point.

A financial planning course in high school would be incredible for the future of our country. I’m in total agreement there.

]]> By: Chris http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-468 Chris Mon, 28 Jul 2008 16:50:08 +0000 http://20smoney.com/?p=131#comment-468 unless your company offers index funds in your 401k (or really good low cost mutuals), you are better off going to a Roth and buying them there. I don't think it is difficult to open a Roth and select an S&P 500 index fund. This has historically beat most mutual funds in the past when you include expenses. So if you are a set it and forget it investor, and still young, I still think people should be encouraged to go outside the 401k (most 401ks are set up for the benefit of the plan provider, not the consumer). #1 reason we should have financial planning as a course in high school, to indoctrinate them with the simple things. unless your company offers index funds in your 401k (or really good low cost mutuals), you are better off going to a Roth and buying them there. I don’t think it is difficult to open a Roth and select an S&P 500 index fund. This has historically beat most mutual funds in the past when you include expenses. So if you are a set it and forget it investor, and still young, I still think people should be encouraged to go outside the 401k (most 401ks are set up for the benefit of the plan provider, not the consumer). #1 reason we should have financial planning as a course in high school, to indoctrinate them with the simple things.

]]> By: Hanks Weekly Hangouts #40 (July 27, 2008) | My Investing Blog http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-462 Hanks Weekly Hangouts #40 (July 27, 2008) | My Investing Blog Sun, 27 Jul 2008 08:03:43 +0000 http://20smoney.com/?p=131#comment-462 [...] 1. T20sMoney describes how to Take Your Personal Finance to the Next Level. [...] […] 1. T20sMoney describes how to Take Your Personal Finance to the Next Level. […]

]]> By: Saturday Link Love: Tales From The Web Edition (Ask Mr Credit Card’s Blog) http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-459 Saturday Link Love: Tales From The Web Edition (Ask Mr Credit Card’s Blog) Sat, 26 Jul 2008 08:18:14 +0000 http://20smoney.com/?p=131#comment-459 [...] 20’s Money shows us how to Take Our Personal Finances to the Next Level. [...] […] 20’s Money shows us how to Take Our Personal Finances to the Next Level. […]

]]> By: kevin duffey http://20smoney.com/2008/07/24/im-in-a-good-position-financially-what-can-i-do-to-take-my-personal-finances-to-the-next-level/#comment-456 kevin duffey Fri, 25 Jul 2008 21:41:49 +0000 http://20smoney.com/?p=131#comment-456 Hank, sure if the person has no idea what they're doing when it comes to investing, a 401k is a great option. I really encourage people to LEARN more so they can take more control of the investing. If a person has no desire to do more, than sure the best thing for them to do is to put as much money as possible into their 401(k). It definitely will compound over time. Hank, sure if the person has no idea what they’re doing when it comes to investing, a 401k is a great option. I really encourage people to LEARN more so they can take more control of the investing.

If a person has no desire to do more, than sure the best thing for them to do is to put as much money as possible into their 401(k). It definitely will compound over time.

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