Taxes are an unavoidable part of life. The good news? You have more control over your tax situation than you might think. In this guide, we'll explore five common tax traps that could be costing you thousands of dollars each year. By understanding and avoiding these pitfalls, you can keep more money in your pocket, make the tax code work FOR you instead of against you, and stretch your dollars that much further. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

"My wife and I want to move from Chicago to Colorado. Are there certain things to look out for when moving away from family to a new area? We would line up jobs before moving and have plenty of savings" -Thomas S We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Real Stories. Real Strategies. Real Wealth. Today, we're introducing our new show, "Making a Millionaire" with the first episode coming out on Monday, February 3rd. This new show provides personalized, actionable strategies and reliable guidance to help everyday people fast-track their path to financial freedom. Unlike traditional financial advice programs that focus on restrictive rules or cutbacks, Making a Millionaire empowers viewers to craft a wealth-building strategy that aligns with their unique goals and lifestyle. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

"​​What are the goals after Step 9? Also, at what step can you consider fun money?" We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

That’s right. We’re bringin’ simple back. 2008 provided us with a wonderful opportunity to step back and ask, ‘what in the world are we doing?’ If you were an adult and had a pulse over the last decade, it would have been impossible to not notice all the complexity in the financial markets. I’m not just talking about the stock market. I am alluding to every aspect of your financial life. So often individuals feel like to make money or be successful, it has to be a very intricate and complicated process and only the super intelligent can achieve it. We were all tempted to invest in things we didn’t understand, buy products we couldn’t comprehend, and implement strategies that made our heads spin.  In today’s show I walk through a few areas where simple is not a bad thing. For more, visit the show notes on our site at http://www.moneyguy.com/2009/01/bringin-simple-back  Learn more about your ad choices. Visit megaphone.fm/adchoices

Well, so far the beginning of 2009 has felt quite similar to the last part of 2008. That, however, does not mean that there aren’t opportunities out there for us to take advantage of. Two common questions I’ve been getting from you are ‘should i still do this whole re-balancing thing?’ and ‘what do I […] Read more at http://www.moneyguy.com/2009/01/year-of-the-re-refinance-and-rebalance  Learn more about your ad choices. Visit megaphone.fm/adchoices

As if the financial markets weren’t scary enough in 2008, here comes the story of a snake who decided to take advantage of people and subsequently make millions and millions of dollars doing it. Bernard Madoff, ole’ Uncle Bernie, created one of the largest Ponzi schemes ever. Basically, a Ponzi scheme is one in which […] Read more at http://www.moneyguy.com/2009/01/protecting-yourself-from-fraud  Learn more about your ad choices. Visit megaphone.fm/adchoices

A 2009 Challenge: 2008 is coming to a close and this is the time of the year where we start planning those Resolutions on how we are going to make 2009 better than 2008.  Below I have provided a few thoughts and links: If you are Unhappy… Make a Change If you are not happy […] Read more at http://www.moneyguy.com/2008/12/lazy-investing-can-be-good-investing-update  Learn more about your ad choices. Visit megaphone.fm/adchoices

Next week is Thanksgiving.  Thanksgiving is a great time to catch-up with friends and family, but I am worried that this year’s big point of discussion is going to be the economy and the stock market.  In this volatile time I wanted to provide you with some objective and analytical data that will help you […] Read more at http://www.moneyguy.com/2008/11/unusual-times-require-creative-solutions  Learn more about your ad choices. Visit megaphone.fm/adchoices

With all of the doom and gloom in the financial markets right now, surely you are asking: why in the world would I be talking about spending money? Especially when shows over the past few weeks have been concerned with ways to save money! Even bad situations can have a good side.  In this economy […] Read more at http://www.moneyguy.com/2008/11/how-to-spend-a-little-money  Learn more about your ad choices. Visit megaphone.fm/adchoices

Life insurance is one of the most controversial and, in my opinion, convoluted personal finance topics today. Even once you get past the eternal debate of term vs. permanent life insurance, then you must move on to determining how much life insurance you need, what method do you use to calculate that amount, and who […] Read more at http://www.moneyguy.com/2008/11/unusual-times-require-creative-solutions  Learn more about your ad choices. Visit megaphone.fm/adchoices

We have been riding this wave of volatility long enough that 7%-9% market swings do not have the same shock and awe impact they had a few weeks ago.  This acceptance of the wild swings has provided me with an opportunity to step away from the initial emotional feelings that came from this roller coaster…. […] Read more at http://www.moneyguy.com/2008/10/time-to-buy-buffett-vs-cramer  Learn more about your ad choices. Visit megaphone.fm/adchoices

Last show we talked about the silver lining of a financial crisis. This week I talk about the special opportunities that these down markets can offer. More specifically, if you did not catch it from the title of this post, I am talking about harvesting tax losses. More than likely, and probably by no fault […] Read the rest at http://www.moneyguy.com/2008/10/thanksgiving-around-the-corner-time-to-harvest  Learn more about your ad choices. Visit megaphone.fm/adchoices

What a week! Actually, what a past couple of weeks! Obviously, it wouldn’t be too hard to harp on all of the bad stuff going on right now. So, instead of doing that, I would like to focus on some of the silver lining and maybe some of the positive things that could come out […] Read more at http://www.moneyguy.com/2008/10/the-silver-lining-of-a-financial-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

"Im 24 years old - how can I approach my 13k credit card debt? I have roughly 30k in assets. I was thinking a balance transfer to maximize 0 interested for 21 months? Thoughts?" We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

So this is the question of the hour: What is going on? Or maybe the better question is: What got us into this mess? The real answer is a perfect storm with many moving parts acting together to drag down the financial markets. The more simple answer, although not necessarily the entire cause, is leveraged […] Read more at http://www.moneyguy.com/2008/09/news-nightmares-bank-debacles  Learn more about your ad choices. Visit megaphone.fm/adchoices

For most parents, saving for their child’s education is always a priority. With the volatility and uncertainty in today’s market, it has become a priority that is not so easy to fund. Most would agree that a hundred dollars here or a hundred dollars there, while not providing a full ride, would definitely help out. […] Read more http://www.moneyguy.com/2008/09/cheese-grits-and-college-savings-black-holes-and-helocs  Learn more about your ad choices. Visit megaphone.fm/adchoices

In tight economic times charities are often hit with increasing needs from the individuals who require their services. To make matters worse, generous donors are struggling with their own financial issues resulting in less donations to their favorite charities. In times like this both donors and charitable organizations have to adapt and become more creative […]  Read more at http://www.moneyguy.com/2008/08/tax-smart-and-creative-ways-to-better-the-world  Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s show is a grab-bag of goodies. If you keep up with pop-culture, you’ve probably come across the show Extreme Makeover Home Edition. If you’re not familiar with this show, they select a family in need and makeover their home. One family they selected actually lived about fifteen minutes away from me, so when I […] Read more http://www.moneyguy.com/2008/08/fairy-tale-foreclosure-how-a-planner-works-and-dark-knight-review  Learn more about your ad choices. Visit megaphone.fm/adchoices

The mutual fund universe is larger than ever and there are no signs of it slowing down. With more funds, more information, and easier access to this information, how can you go about selecting solid funds that are going to assist you in achieving your life goals? With help from InvestorWords and BusinessDictionary, let’s begin […] Get more information at http://www.moneyguy.com/2008/07/selecting-mutual-fund  Learn more about your ad choices. Visit megaphone.fm/adchoices

We have a special treat for you on this installment of the Money Guy Show! I usually don’t have guests on the show, but today we’re fortunate to be joined by Liz Weston. As many of you will attest, Liz is an award-winning, nationally syndicated personal finance columnist with a unique gift for simplifying complex […] Read more at http://www.moneyguy.com/2008/07/liz-weston-loaded-celebrity-interview  Learn more about your ad choices. Visit megaphone.fm/adchoices

Our banking system’s clearly under a lot of stress at the moment. Coming off a decade of aggressive mortgage lending, the system’s troubles have been compounded by a sputtering economy and retreating stock market. As an investor, you need to be smart about insulating yourself from the system’s problems. While I don’t want to be alarmist, a little effort now on your part could pay significant dividends down the road. If nothing else, you’ll sleep better with the knowledge that you’ve assessed your exposure and taken appropriate action. For more, visit the show notes on our site at http://www.moneyguy.com/2008/07/protecting-yourself-u-s-banking-system-under-stress  Learn more about your ad choices. Visit megaphone.fm/adchoices

Pick your economic worry — there’s more than enough to go around: mortgage crisis? faltering U.S. economy? government deficits? skyrocketing oil prices? geo-political instability? rising inflation rates? As a financial planner, I see and feel the anxiety that my clients are experiencing. For most, the anxiety peaks each quarter with the arrival of their once-welcomed, […] Learn more about your ad choices. Visit megaphone.fm/adchoices

"If Thomas Jefferson thought taxation without representation was bad, he should see how it is with representation." – Anonymous Deferring taxes has always been a bedrock principle of retirement planning. The logic is simple: why would anyone pay the government now when tax-deferred accounts allow you to delay your obligation for 15, 25, and maybe […] Learn more about your ad choices. Visit megaphone.fm/adchoices

"Any man can be a father, but it takes a special person to be a Dad." – Anonymous Since we celebrated Father’s Day this past weekend, I thought it’d be fun to discuss how parents can help their children grow up to be financially responsible adults. Building on the ideas of Clark Howard, Dave Ramsey, […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Personal finance is personal, and so are financial advisors. We walk you through everything you need to know about financial advisors: their cost, their value, when you should consider hiring one – and when you shouldn’t. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

I think a lot about our culture and how the virtues of frugality and simplicity seem to have been forgotten by many of us. As never before, the popular media show us how ultra-wealthy athletes, entertainers, and business titans live, travel, eat, and dress. Combined with easy credit and a "want-it-now" mindset, we’ve started to […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Professional financial planning is built on a foundation of trust. You entrust not just your money but also your hopes and dreams with an adviser and planner like me. Above all, you want your planner acting with your best interests at heart. And yet, Shakespeare’s famous advice — "Love all, trust a few" — rings […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Love him or not, Dave Ramsey is a financial planning phenomenon. Consider his popularity: Ramsey’s syndicated radio program, The Dave Ramsey Show, is heard on over 325 radio stations throughout the United States and Canada. Besides being a radio personality, he’s written almost 15 books, three of which have been on the New York Times […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Through my years as a financial planner, I’ve worked with a lot of couples and, unfortunately, seen many of the same money mistakes over and over again. Disappointing, yes … but also a sign that good advice for couples could help many families dodge these common investing pitfalls. In a recent article on Bankrate.com, Dana […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Money-Guy 05-05-2008 With recent stock market ups and downs, immediate annuities are attracting attention from people looking to shelter themselves from volatility. But do they make financial sense? If so, for whom and when? (An immediate annuity, you might recall, is an investment product that’s purchased with a single payment and begins to pay out […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Being a financial planner myself, I loved an article that The New York Times featured over the weekend, "Pick a Planner Who Can Spell ‘Fiduciary’". For those who don’t know me, let me assure you that while I might not be a great grammarian, I definitely know, understand, and can spell the word ‘fiduciary‘! 😉 […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Chris Hansen from Dateline NBC devoted an entire hour on April 13, 2008 to the topic of equity-indexed annuities and the unscrupulous tactics sometimes used to sell them to seniors. (Recognize Hansen’s name? He’s best known for his work on the Dateline NBC television segment To Catch a Predator. These controversial investigations revolved around catching […] Learn more about your ad choices. Visit megaphone.fm/adchoices

If I told you about a popular investment product that was yielding 40% less than it did last year, you’d probably think it was one of the great financial meltdowns of 2008. But, what if I also told you that investors seemed indifferent to this product’s decreased yield and were actually accelerating their rate of […] Learn more about your ad choices. Visit megaphone.fm/adchoices

I’m short on notes today, but heavy on great information in the audio of the show. I first provide my detailed perspective on the performance of the market in the first quarter of 2008. I then talk at length about staying focused on why you invested in the financial markets in the first place. If […] Learn more about your ad choices. Visit megaphone.fm/adchoices

We’re currently in the final weeks of tax preparation season. As many of you know, I do just enough tax return preparation every year to make me wonder why I do taxes! Joking aside, I believe I’m a better adviser for my clients if I know how the tax code works. Still, it gets a […] Learn more about your ad choices. Visit megaphone.fm/adchoices

"I'm 42 and want to retire early at 45. I’ve stress-tested my plan and everything looks okay, but I’m having a hard time mentally stepping away from the job. I know I want to spend more time with my kids (they’re my ‘why’).So why is it so hard to make the switch?"  We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

After you’ve been in an auto accident, you count your ten fingers and ten toes. Then, the stress sets in that you will have to deal with an insurance company. Don’t worry! In today’s show, I’m going to give you some tips to navigate through the process and protect yourself financially. Before we get into […] Learn more about your ad choices. Visit megaphone.fm/adchoices

I’m a day late with this post because I spent most of yesterday fielding concerned phone calls and writing a market update letter for my clients. It’s during these volatile times that good advisers prove their worth to clients, and as you can imagine it’s also a stressful time. With that said, I know that […] Learn more about your ad choices. Visit megaphone.fm/adchoices

If you’ve reviewed the Money Guy site recently, you’ve probably noticed that we added a fun "widget" which rotates through some of Warren Buffett’s wiser observations about money, business, and life. Most of those quotes come directly from his annual letter to the shareholders of Berkshire Hathaway. Every February, I eagerly await its release because […] Learn more about your ad choices. Visit megaphone.fm/adchoices

Money-Guy 03-03-2008 In this week’s show, I help you find $200 a month by just calling your "Ungrateful Providers". Now this does not mean that your auto or homeowner’s insurance agent is not appreciative of your relationship. It means that the insurance and utility industry are set up to take advantage of laziness. I am […] Learn more about your ad choices. Visit megaphone.fm/adchoices

I talk about the need to save for retirement all the time on the Money Guy Show. However, I have not done a show discussing what you can expect from these savings once you hit the retirement phase of your life. Before all of my young readers and listeners tune out or click to close […] Learn more about your ad choices. Visit megaphone.fm/adchoices

I was asked to write a guest post for fivecentnickel.com that will be posted while nickel is on vacation. I decided to base my post on the timeless advice of Warren Buffett and some of his most notable quotes. As I was researching the post I could not help but notice a trend in Buffett’s quotes: growing money takes time and patience. Read more at http://www.moneyguy.com/2008/02/time-and-money-it-can-be-your-best-friend  Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you ever wondered if you should prepay your mortgage? In today's show I give you the information to make an informed decision based upon your personal situation. We take into account the analytical side of the decision as well as the emotional relief that can come from being DEBT FREE…. Read more at http://www.moneyguy.com/2008/02/should-you-prepay-your-mortgage-and-mutual-fund-opportunities  Learn more about your ad choices. Visit megaphone.fm/adchoices

January is officially history and there was a tremendous amount of volatility. On today's show I share how you can turn the lemons of January into sweet lemonade that can provide complete peace of mind on one of your largest assets (your home). For more information, visit the show notes at www.moneyguy.com/2008/02/nuts-and-bolts-of-obtaining-a-mortgage-and-how-to-cut-closing-costs Learn more about your ad choices. Visit megaphone.fm/adchoices

We are covering: Details of the Government’s bipartisan economic stimulus program “How to drive your tax preparer crazy” discussion with CPA, Brandon Verner Listener’s Question Answered: What to do with 401k accounts from prior jobs Read more at http://moneyguy.com/2008/01/stimulus-package-tax-preparation-discussion-and-ira-rollovers   Learn more about your ad choices. Visit megaphone.fm/adchoices

If you need proof that this broad sell-off is nothing new then read an article that I wrote back in October 2002. (click here for a copy) In the article I let readers know that diversification and not letting their emotions get the best of them is the secret to long-term investing. Read more at http://www.moneyguy.com/2008/01/coping-with-an-uncertain-market-us-credit-under-fire-and-what-does-900-gold-mean  Learn more about your ad choices. Visit megaphone.fm/adchoices

"​​How long is it acceptable to drop my retirement contributions to save up for a home? Is 2 years too long while only investing 5% to receive match? 30yrs old, no debt, 120k in my Roth 401k" We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

A new year can represent a fresh start for many. I know that many out there have made financial resolutions and I want to be a resource to help you reach that goal of financial independence. Let's talk about some of the big areas that may need attention: Wills Life Insurance Beneficiary Designations on Life Insurance and Retirement Plans Asset Allocation For more information, visit the show notes at www.moneyguy.com/2008/01/2008-financial-resolutions-and-how-not-to-have-a-1987-portfolio Learn more about your ad choices. Visit megaphone.fm/adchoices

The emotions that your brain creates can lead to disaster if you do not know how to recognize where your decisions and actions are coming from (analytical side of the brain or emotional instinct to avoid risk). Remember when you are wondering if the financial markets are going up or down the answer is always, “YES” For more information, visit the show notes at http://www.moneyguy.com/2007/12/money-and-your-brain-amt-update Learn more about your ad choices. Visit megaphone.fm/adchoices