Personal Finance
If becoming a multi-millionaire were easy, everyone would be doing it. There are over 22 million millionaires in the US, and likely many more on the path to reaching this level of wealth. The numbers get smaller as you move up the net worth scale. I want to share with you 12 hurdles you will need to overcome if you wish to become a multi-millionaire yourself. I recently helped a couple reach their financial freedom, a number of $10 million of liquid net worth that they could use to fund their lifestyle if they quit working. They are celebrating by…
Millions of Americans may see significant changes to credit reporting in the coming months if they have unpaid medical bills or student loans. But the reporting changes will be drastically different between the two debt groups. Earlier this week, the Consumer Financial Protection Bureau — a federal financial watchdog agency — finalized a rule to remove at least $49 billion in unpaid medical bills from consumer credit reports. The changes may benefit 15 million Americans. At the same time, however, millions of borrowers who remain in default on their federal student loans will be hit with negative credit reporting in…
The way we think about money is changing fast. By 2025, traditional ideas about saving, spending, and investing will feel outdated. With tech driving much of this change, new tools and trends are popping up everywhere, from AI-powered apps to decentralized finance (DeFi) platforms. These aren’t just flashy buzzwords—they’re reshaping the rules of personal finance. Let’s explore how these shifts are creating opportunities and challenges for anyone looking to grow their wealth in the years ahead. 1. AI Is Your Financial Sidekick AI isn’t just for futuristic robots—it’s already revolutionizing how we manage money. In fact, AI-driven tools reduce overspending…
As 2025 gains momentum, you may be thinking about your investment portfolio. Where will the opportunities lie in the new year? As I’ve noted in the past, investors are once again faced with a landscape of opportunities and risks shaped by macroeconomic trends, evolving consumer behavior, and technological innovation—much of which has little to no historical precedent. While there are some solid stock options and interesting alternatives, looking farther afield for investment opportunities can be difficult. If you’re unsure what to do with your money in the months ahead, here are some high-level insights into where some of the most…
Vincent Van Gogh is one of the best-known artists in history, but his genius came at a hefty price. He famously suffered from mental health issues, which manifested in many ways, among them his obsessive doubts over his own abilities. “I feel a failure. I feel that this is the destiny that I accept, that will never change,” he once wrote to his brother, Theo. Anyone who has laid eyes on Van Gogh’s work knows his self-doubt was misplaced, but the artist, sadly, was never able to get out of his own way. Who knows what he would have accomplished…
I recently launched a peer financial coaching center at my university, providing students with a place to receive financial coaching help. While the center primarily relies on trained peer financial coaches to assist fellow students, I occasionally step in as a financial coach. During one of my sessions, a young college student arrived with a big smile, radiating confidence and maturity. She seemed poised and self-assured, and I assumed our session would likely cover advanced financial topics, like stocks or Roth IRAs. Still, I decided to start by asking her how she was feeling. She gave me a sideways glance…
The tax landscape is becoming increasingly complex, and small business owners are discovering that traditional tax preparation services no longer meet their needs. As tax laws evolve and financial pressures mount, there is a growing demand for professionals who do more than just file returns. Attending the Tax 360 Conference offered valuable insights into this transformation. During the event, I had the opportunity to interview Mark J. Kohler, a seasoned tax professional and advocate for small business owners, along with other experts in the field. These discussions highlighted the pressing need for the tax industry to shift from compliance-focused services…
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The year 2024 has just come to a close and many people may not yet be thinking about filing their 2024 income tax return, but perhaps they should. Income tax identity theft is a huge problem that costs the government billions of dollars annually, and also can delay your legitimate tax refund by as much as 675 days. Income tax identity theft, by which identity thieves file phony income tax returns with easily created counterfeit W-2s using the Social Security number and name of their victim is still a major problem for the IRS although it is improving its enforcement…
Over 11 million Ohioans woke up this morning with greater protection for their free speech rights. On January 8, 2024, Ohio Governor Mike DeWine signed into law Senate Bill 237 of the 135th General Assembly which creates the Ohio Uniform Public Expression Protection Act (UPEPA) at § 2747.01, et seq. of the Ohio Revised Code. The Buckeye State becomes the ninth state to adopt the UPEPA as created by the Uniform Law Commission, plus Oregon which has adopted substantially similar legislation. Illustrating the bipartisan nature of the UPEPA, it was passed unanimously by both the Ohio Senate and House of…
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Learn how to balance risk and reward in your investments, rebalance your portfolio, and avoid common investing pitfalls.How can you manage risk and reward when investing? What are the best strategies for rebalancing your portfolio for 2025? Host Sean Pyles and Investing Nerd Sam Taube discuss how…