For the last couple of decades, homeowners have benefited from a tax-deduction for the mortgage interest they pay on their residence. Some would say that as a result homeowners have been using their homes as an ATM machine by making withdrawals at low rates whenever they need money. This incentive has helped propel home ownership and, the housing and real markets for many years.
Well, I'll tell you what it's not. It is not investing in the next hot stock (or Bitcoin). In fact, that's not really even investing. That's called speculation.
True financial planning is an ongoing disciplined process where you make logical and well thought out steps to help you achieve your financial goals.
Alimony also known as "spousal support" is money that one spouse pays another. Usually on a monthly basis for a set period of time.
Generally speaking, the spouse that receives alimony (usually the lower income spouse) pays taxes as ordinary income on the money received. The payor of alimony (usually the higher income spouse) gets a deduction on these payments.
For anyone with children at home, managing screen time is an issue. At young ages, it can seem innocent as a 5 year old plays a simple game on mom or dad’s smartphone. But pretty soon they are wanting more and more time and eventually their own phone.
How much time is too much?
What effect is screen time this having on our children?
Remember the movie Rocky?
Why did Rocky get up at 4:30 am, drink raw eggs and then go out in the cold and run?
Plain and simple, he had a goal. (and a burning desire) He knew, that if he did that consistently, went a little further or faster over time, he would get stronger and closer to his ultimate goal. Winning the heavyweight boxing title.