When Fred Cox retired from the NFL in 1977, the placekicker had scored 1,365 points. But his most famous score happened when he was approached by an entrepreneur named John Mattox in 1971, explains The Week. Entrepreneur Mattox wanted Cox to help create a backyard field goal kicking game. In response to Mattox’s prototype (a heavy football), Cox responded, “You’re gonna have a bunch of sore-legged kids.” “Cox asked a friend in the injection molding business to create a prototype,” explains The Week, “the resulting foam pigskin was light, aerodynamic, and a hit with neighborhood … [Read more...]
Your Retirement Life: Rainbow Bridge Awaits You
One of the best parts of helping people in retirement is getting to be a part of their retirement life. A client recently sent me this picture, and said: "Above is a snap of Rainbow Bridge taken from a nearby alcove that held some old signatures." It was great to be able to share that moment he had worked for his whole life. The beautiful Rainbow Bridge National Monument is in Utah on the edge of Lake Powell. If you want to make it part of your retirement life, you can learn more about it here. … [Read more...]
Texans Fight to Protect Their Income from Taxation
Texans are known for their fierce loyalty to their home state, with some even considering themselves Texans first, then Americans. So it's no surprise when Texans band together to protect themselves from outside forces seeking to change the state's character and customs. Thanks to Texas' many years of economic success, people from all over America and beyond have immigrated to the state to participate in its bounty. They have brought with them ideas antithetical to Texas' traditions, including a desire for bigger government. In the face of this foreign influence on their ways, Texans … [Read more...]
Here’s How the Wealthy Get More for Their Money
For decades high tax states have been treating their wealthiest residents like a bank account, with money to be withdrawn whenever state legislators had a new pet project to fund. In the past, wealthy residents were tied down to places like New York, New Jersey, and Connecticut because of their proximity to centers of industry like Wall Street. Today though, the internet allows wealthy executives to operate their businesses from almost anywhere. With this newfound freedom, many wealthy residents of high tax states have been fleeing for places like Florida, where they get to keep more of … [Read more...]
Can You Have an Affordable, Warm, Gun-Friendly Retirement?
Some retirees want it all, and by that, I mean a state with warm weather, firearms freedom, and low costs. Catey Hill, an editor at MarketWatch, was asked for just that by a retiree living in California. She responded with some ideas for locations offering just that. She wrote (abridged): You’re not alone in wanting to flee California in retirement — and for you, the costs make it hard to live anywhere in California on your Social Security checks alone. Though you’ll be hard-pressed to find a state with weather as good as it is in many parts of the Golden State. That said, I’ve found some … [Read more...]
Your Retirement Life Under Democrats Would be Tragic
If you think the Dems are only after billionaires (and I know you don’t) then think again. Here you get a look at how they’d treat an estate worth $3.5 million, which will cast a huge net capturing savers like you. Anna Sulkin writes at WealthManagement.com: Rep. Jimmy Gomez (D-Calif.)recently introduced legislation, For the 99.8% Act (the Act), aimed at lowering the estate tax exemption amount and increasing the tax rate for some of the wealthiest Americans. The Act is identical to the legislation introduced by Sen. Bernie Sanders (I-Vt.) earlier this year. Under the Act, estates would … [Read more...]
Your Retirement Life: Investment Planning in One Chart
These Two Eastern States Are Open for Business
There were only two states on the East Coast that ranked in the Top 10 of the Tax Foundation's 2020 State Business Tax Climate Index. Those states were Florida at number 4, and New Hampshire at number 6. In the ranking, states were graded on corporate taxes, individual taxes, sales taxes, property taxes, and unemployment insurance taxes. Florida led the nation with the best ranking for individual income taxes and also secured the second-best ranking for unemployment insurance taxes. Florida placed in the top half of states in all categories. This year New Hampshire moved to 6th … [Read more...]
Here’s Why Warren’s Wealth Tax Won’t Work
Elizabeth Warren has a plan to pay for all her plans; take wealthy Americans' money. The problem is, other countries have tried just that, and it didn't work. The rich and ultra-rich can move anywhere in the world and hide their wealth there. That's exactly what they have done in other countries that tried to pin them down and take their wealth. Not to mention how difficult wealth taxes are for family farmers, whose wealth is tied up in their land. They are forced to sell parcels each year in order to fund the taxation. Pretty soon, there's no farm left! And certainly no wealth. At … [Read more...]
Your Retirement Life: Thank You EJ from Kodiak, Alaska (Part II)
You may have read about my client Dr. Lee earlier this week, how we’ve been working together for 16 years, and the story behind the homemade “Thank You EJ” sign in the picture. I want you to read his response to my post and share it with everyone whose financial security you care about. Part of my effort on your behalf is to help you avoid inertia, get into the compounding game, and always be prepared for the worst. Always think about your risks first and realize the success you and your family deserve. It’s that simple. Here's what he wrote: Well said. Hope people listen. It’s not … [Read more...]