The current maximum monthly benefit from social security is $4,555/mo or $54,660/yr. If you purchase this much cash flow as an annuity in the public market, it would be worth $1.3 – $1.5 million. Because of this considerable value, it is worth understanding how to maximize both your monthly benefit/expected lifetime benefit, and how this
Author: Stephen Boatman
Stephen has been investing for over 10 years and has always had a passion for helping others understand money and teaching them how their hard earned assets can be leveraged to meet their financial goals. Stephen has understood how wealth management and financial planning can change lives ever since he was in his teenage years thanks to his parents ensuring he was well versed in the topic. Within this realization, he discovered his purpose: making a positive difference in the lives he is surrounded by and the financial industry he works in.
An Unaffordable Housing Market: Why and What’s Next?
The cost of home ownership has risen to an all-time high over the past 24 months, and there are three main reasons for this: Are current home prices and interest rates sustainable? I think we’d all agree the answer is “no,” but what story is the data telling us? And what can we expect to
$500 Billion Student Loan Forgiveness Update ($10k/$20k, New IDR Plan, 0% Interest Ending)
Student loan forgiveness has been floating around congress and the headlines for the past few decades. Until 2020, it seemed like empty promises, but since Covid-19, the student loan forgiveness train has started gaining traction. It began with pausing student loan payments and granting 0% interest rates for the past 30 months, which has saved borrowers billions of dollars on its own. And now, the Biden Administration is pushing to forgive $10,000 to $20,000 of student loans.
Humans and Monkeys Fall for the Same Trick
I am sure you’ve heard of the monkey trapping technique where a hunter hollows a coconut, ties the coconut to a tree, and leaves a treat such as fruit inside the coconut. The hole is big enough to fit the monkey’s empty hand, but when it makes a fist, the monkey’s hand becomes too big
How to Contribute $67,500 into a Solo 401k in 2022
Solo 401k’s have always had a large annual contribution limit, but the trick is getting to that limit while living within the rules provided by the IRS. There are four rules to follow to contribute the entire $67,500. Rule #1: Qualifying Business You must work in a for-profit business with “one” employee: you. However, the
Should Your LLC Be Taxed as a Partnership or an S-Corp?
When taxed as an S-Corp, you pay yourself a reasonable wage, and the remaining income is a distribution that avoids FICA taxes!
The Child Tax Credit 2021: What’s Changing?
Last week, an estimated 35 million households received a monthly payment for the expanded Child Tax Credit…
If I Had to Recommend One Book About Money
If you wish to improve your financial life or enjoy well-written books then I would recommend taking the time to read “The Psychology Of Money”.
How Much Car Can You Afford?
We will solve this problem using a sliding scale. Our scale will range from 10% to 30% of our annual pre-tax income.
The Best Credit Cards EVER… For Now
I want to start this off by apologizing to my dad and Dave Ramsey, both adamantly against credit cards. I was raised in a home that praised the debit card and cash because they were low risk and made over spending less likely.