Columbus Financial Coaching

The most important thing with being "successful" is doing what you really like and enjoy. Whether you hate or like Rush Limbaugh we can all say he's been successful. He has the number one AM talk radio show in the country and drives a Rolls Royce. He struggled for years and got fired a number of times but he continued with his love of radio. This paid off and for the last 25 years has been raking in the money.

The point here is that if you want to go to the next level with your income, make sure you are doing what you really love. It may mean taking a step back in your income and changing careers, but, in the long-run you have made the right choice.

Columbus Financial Coaching is based in Columbus, Ohio and works with individuals and families on their long-term financial goals. Message us here or send an email to find out more on how we can help: [email protected], www.columbusfinancialcoaching.com

Having the time and skills to be your own handyman around your house can be troubling. You can search Google for service people and contractors to help but there may be pitfalls. Typically the electricians, plumbers and HVAC people with ads on Google or in the old yellow pages, cost a lot. In one recent example, we found an electrician that charged $90 for a service call. They could not find the problem and said it would be $300 to $500 to come back three days later to do a more thorough investigation. Through a simple ad on Craigslist an electrician was found that came out and had the problem fixed for a total of $80 within 2 hours.

There is a good amount of skilled unemployed or underemployed contractors that are ready to work. Many such people may be working for one of those high-priced firms but want to pick up extra money on the side. With some methodical questioning, you can screen people with your ad on Craiglist.

If you don't like Craigslist, we strongly recommend to contact your local BBB for contractors. The BBB takes a serious view on who is on their website and who is not. Likewise, if you have any complaints about your service, the BBB is the "heavy hand" that will threaten your contractor to fix the problem.

Columbus Financial Coaching is based in Columbus, Ohio and works with individuals and families on their long-term financial goals. Message us here or send an email to find out more on how we can help: [email protected] www.columbusfinancialcoaching.com

Maxing-out your 401(k) year-after-year, will not only jump-start your retirement plans but it will also help reduce your tax bill. In addition to the "big deductions" for home interest and children, this is the largest, and easiest, way to get your taxes reduced legally. The yearly limit is $16,500, so at a 15% tax bracket the tax savings is $2,500.

This simply strategy will not only make you feel better at tax time but it will give you peace of mind during your retirement years.

Columbus Financial Coaching is based in Columbus, Ohio and works with individuals and families on their long-term financial goals. Message us here or send an email to find out more on how we can help: [email protected] www.columbusfinancialcoaching.com

Duplexes or twin singles are excellent investments especially for those who don't mind being their own handyman. When you buy one the bank will consider it a owner occupied unit which gives you better rates and terms over an investment property. Likewise, you'll get tax advantages and write-offs on the expenses for the property that otherwise would not be deductible. Furthermore, your tenant next door is basically paying for the place while you live nearly rent free.

As an example, a payment on a $150,000 value property with taxes and insurance may be around $1,100 per month max. Your rent from the tenant should be around $800 per month or thereabouts. Sure you'll have expenses for upkeep and vacancy periods, but, if you are a smart landlord you'll find good long-term tenants. The bottom line is $300 per month for a house is great. In fact, we would suggest paying an extra $600-$700 per month on the loan to build up equity. In this way, you might be able to pull some money out in a few years to buy another rental that you could make your primary residence.

Columbus Financial Coaching is based in Columbus, Ohio and works with individuals and families on their long-term financial goals. Message us here or send an email to find out more on how we can help: [email protected] www.columbusfinancialcoaching.com

We all know that s*x and money are the key things that couples fight about during marriage. We are not Dr. Laura, so we'll stick with the money aspect here. While you are out there dating and meeting new potential mates, keep your financial antennae raised. It's important to see how those you date handle their money. Once you are married, money will become a potential long-term blessing or headache for the two of you. Does your girlfriend or boyfriend add to their 401(k) at work? Do they have a higher car payment then a rent payment? Are they spending more then they make? What views do their parents have about money? These are some but not all of the things to consider.

When times are good you won't think about money that much, however, it's the times when there is a job loss or financial setbeck that will test your mettle. The person you marry will have a significant impact on your long-term financial success or failure. Be very selective when dating as if you make the wrong choice, it may be years or decades before you get back on the right course.

Columbus Financial Coaching is based in Columbus, Ohio and works with individuals and families on their long-term financial goals. Message us here or send an email to find out more on how we can help: [email protected] www.columbusfinancialcoaching.com