The Best US States Financially to Retire to

Many websites venture into what state is best for retirees. Fewer websites factor financial benefits into selecting a state. Bankrate, Wallethub, Kiplinger, Go Banking Rates, and Caring.com decided to venture into retirement states with financial benefits with mixed results. Therefore, the ones on this list made the top 10 on three websites. Ironically, six on Wallethub‘s list made this list. Prepare to break away from stereotypes and embrace open-mindedness before reading.

Colorado


Retirees craving snow year-round will appreciate Colorado’s snow-capped mountains and nearby ski resorts. Colorado’s strength lies in its healthcare, cost of living, and well-being/quality of life, according to Bankrate and Caring.com. The nature surrounding Colorado, including rivers, air, and trees, will attract outdoor enthusiasts too.

Florida


Florida’s warm weather, beautiful beaches, and endless amenities make it a premier retirement destination. Go Banking Rates and Kiplinger appreciate Florida’s affordable healthcare costs, low home prices, affordable cost of living, and no state income taxes. What Kiplinger adds to the pot is Homestead Exemption, a home saving opportunity for Florida seniors. Likewise, Florida title loans exist for seniors to pay for cars, motorcycles, and boats.

Idaho


A state mainly overlooked as a retirement destination should now be on every retiree’s wish list. Bankrate and Caring.com adore Idaho’s cost of living, low crime rate, and overall well-being are great reasons to move there, putting seniors at ease about safety concerns. The non-taxable prescriptions and social security income makes healthcare affordable for seniors, says Caring.com. Include the mountains and the sunny-not-humid weather and retirement are complete.

Iowa


Stretch the dollar further in Iowa if you’re willing to sacrifice beaches, mountains, and warm weather and embrace the Midwestern heartland. Bankrate and Caring.com loves Iowa for affordable home prices, cost of living, and healthcare. Bankrate boasts about Iowa’s low crime rates while Caring.com highlights the quality of life and senior assisted living options.

New Hampshire


For anyone willing to brave the cold winters, the Granite State makes the tradeoff worthwhile. Bankrate appreciates the state’s excellent healthcare, low crime rates, and overall well-being. Go Banking Rates and Kiplinger touts New Hampshire’s social security benefits, no state income tax, and no state sales tax. Kiplinger specifically mentions a $1,200 exemption for property taxes and a city exemption for dividend interest for retiree residents.

South Dakota


The third state with no state income tax, South Dakota’s weather leans to both extremes: the hottest summers and the coldest winters. Additionally, Bankrate mentions overall well-being and cost of living as advantages. Likewise, Kiplinger shares the same sentiment on no state income tax, yet acknowledges the low sales taxes. With good spending habits, the dollars earned from social security and savings will last a long time.

Wyoming


The social security payouts pay dividends in Wyoming, according to Go Banking Rates. Large payouts, great bank interest rates, and a low cost of living make Wyoming a lovely destination for retirees. Kiplinger, meanwhile, loves the no state income tax, the fourth one on the list, and low property taxes. In addition, Wyoming has low sales taxes thanks to abundant oil and mineral resources. Eligible seniors can expect a small refund from property taxes, sales taxes, and utilities combined.

The combined list shows that warmer climates aren’t the best retirement areas financially. It makes sense. Everyone’s moving there, which increases home prices, cost of living, and other expenses. In closing, retire where you feel financially comfortable and don’t let peer pressure sway you to live elsewhere. It’s important to plan long-term retirement with the state that will stretch the dollar the farthest.

Ed Rempel Org

What is The Cash Flow Dam?

What Is The Cash Dam and How Does It Work?

 The Cash Dam (sometimes referred to as a “cash flow dam”) is a simple but powerful concept, and it’s an especially attractive option for those who are familiar with the Smith Manoeuvre or other tax minimization strategies. Cash Dam can help you with tax optimization if you have a mortgage and own either a small business or a rental property.

What is cash damming?

 The Cash Dam allows the owner of a small business or rental property to more quickly pay down their non-deductible mortgage on their home. It’s a variation on the Smith Manoeuvre, but without additional investing. The Cash Dam is essentially an expedient way to change bad debt into good debt.

For someone who’s using the Cash Dam, what it involves is using a line of credit to pay for business expenses. Then, while using the increased business cash flow, you pay down a non-deductible mortgage or loan. This, in turn, produces an increasing tax-deductible business loan, while paying down a non-deductible mortgage or loan. Be advised that the Cash Dam as described above will only work for those who own a non-incorporated personal or partnership-based small business or a rental property.

Example:

 If you own a small non-incorporated business that has $2,000 in expenses each month and you also have a readvanceable mortgage, then the $2,000 per month expense would be paid by the home equity line of credit (HELOC). You then use the additional $2,000 you have in your business expense account to make a payment on your non-deductible mortgage. Interest paid on money that’s borrowed for business expenses is tax-deductible; by using the Cash Dam, you’ll be left with a tax-deductible business loan and a non-deductible mortgage that’s been quickly paid down.

One of the keys to the Cash Dam, however, is capitalizing the interest on the business line of credit. That way, you avoid using any of your own cash flow and you keep the business line of credit tax-deductible.

How does the Cash Dam differ from the Smith Manoeuvre?

The Cash Dam relies on using a tax-deductible business loan to allow you to pay down a non-deductible debt, while the Smith Manoeuvre allows you to buy investments. Investing from your credit line is why the Smith Manoeuvre has much higher risk and return than the Cash Dam.

Potential applications

 Say that you’re a rental investor, instead of using your own cash flow to pay for rental-related expenses, you can use the Cash Dam and a line of credit. In this instance, using the Cash Dam would help you pay for your personal mortgage and help you satisfy your tax obligations as well.

And if you are a small business owner, the Cash Dam can be extremely advantageous. The strategy gives you a way to quickly pay down your non-deductible mortgage and convert that debt into a tax-deductible business loan.

3 Ways To Save Money By Being Prepared

How many times have you been proverbially caught with your pants down when it comes to saving money? Time after time, money shows us how vengeful it can be if we do not show some skill and respect in how we handle it.

However, there are some simple ways you can put money back in its rightful place just by being prepared for some of life’s curve balls. Below are three of those events and how you can steer danger away from your wallet.

Invest In Insurance

There once was a young lady. She was about eight-years-old. As she was playing outside, her mother pulled up in the family car and ran inside for a quick minute to use the restroom. The little girl noticed that her mother left the car running.

What she didn’t know was that her four-year-old brother was left inside the running vehicle. The young boy made his way to the front seat and managed to put the car in gear. As it started to roll backwards, the little girl hopped in the front seat and tried frantically to stop the car.

Although she was successful, the car rolled over her leg in the process and broke it in three places. It is events like these that urge us to make sure to be prepared with insurance. Health insurance would have been helpful to get the necessary services to heal her leg.

Keep An Attorney In The Dugout

Again, you never know what life has in mind for you. Another way to save money by being prepared is to keep an attorney in the dugout to handle those curve balls life throws at you.

Whether you are hit by a car, going through a divorce, or suing a former best friend for stealing your property, you will be able to knock that curve ball out of the park if you take the time to have an attorney on standby.

This will not only save you money on the process of paperwork and court costs, but will save you precious time and will lighten the stress in the situation.

Your Last Will And Testament

The majority of us don’t receive pleasure from sitting around and contemplating the end of our lives, but there comes a time when it’s necessary to do so. In this stage of life, it will be your friends and family that monetarily benefit from your efforts.

When you take the time to write out your last will and testament, you can make funeral arrangements cheaper on your family, help them skip attorney’s fees by making sure that everything included in your will is delegated to each person by name, and by including a guardian for minor children. This ensures there are no costly custody battles.  

Saving money isn’t all about piggy banks and savings accounts. Invest some time in simple preparation and keep the cobwebs out of your wallet.

Should You Invest in Cryptocurrencies? The Pros and Coins of Buying Bitcoin

No matter what their income level is, everyone wants to do all that they can to create a stable financial future for themselves. In recent years it has become more and more common for the average person to consider turning to the world of investing, something once considered to be the sole domain of the very rich, but is now a mainstream activity.

There are, of course, many ways that you can invest even modest sums of money, and new ways seem to be emerging all the time. One such opportunity is something that has recently begun coming out of the shadows where it has been lurking for years and into the mainstream: cryptocurrency.

The chances are that you have recently heard or read that certain cryptocurrencies are hot investment commodities right now. You may have seen that the best known of them, BitCoin, has been rising to record value records recently. You may also have heard the tales of those who got into BitCoin in around 2010, when it was first making the transition from the payment method of choice for drug dealers on the virtual Silk Road to mainstream investment opportunity are now very wealthy based on a modest initial investment. Or rather, wealthy in terms of cryptocurrency. But what does that really mean and is such an investment really a viable choice for supplementing say, a veteran’s TDIU payments or a businesswoman’s standard 401K?

Cryptocurrencies 101 

You are far from alone if you are not quite clear on just what cryptocurrency is or how it works. In very basic terms, it’s a form of virtual money that only exists online. There is no such thing as a physical BitCoin. Although it was not the first cryptocurrency by any means, BitCoin was the first to attempt to go mainstream. Invented in the late 2000s by a Japanese hacker/blogger by the name of Satoshi Nakamoto, it was touted as a way for business transactions to be conducted directly, without the need for a third party like a bank.

In 2017, the BitCoin system is reliant upon the efforts of programmers who oversee and record transactions and build a formal blockchain. This is known as BitCoin mining and technically anyone can participate.

Why the idea of a virtual currency like BitCoin is so exciting to some is not hard to understand. The value of the currency is set by a computer algorithm and is not influenced by unstable world events. No credit or debit cards for thieves and hackers to tamper with, and perhaps best of all, no more bank fees.

The idea of the widespread use of BitCoin and similar cryptocurrencies has not quite come to fruition yet, but it is getting there. BitCoin can actually be more widely used now, with major companies like Microsoft and Expedia accepting it as a valid form of payment, as well as a slew of smaller online businesses and even Subway – yes, the sandwich place – have been experimenting with accepting it as payment for orders placed online.

Should You Consider Investing in Cryptocurrencies? 

There’s heavily divided opinions on the future of cryptocurrency in the global financial community. There are experts who are very bullish on the idea, pointing to the fact that BitCoin is now an officially government-sanctioned currency in Japan and Dubai, where the easy movement of large amounts of money is a must, the government is working with several blockchain providers to make all transactions in dirham paperless by 2020.

There are negatives of course. It’s hard to place a real value on stocks of virtual currency and if a blockchain provider suddenly disappears – which has happened – the currency may instantly become worthless.

In the end, if you’re willing to risk the money – which you’d have to be if you’re looking at investing – then at the very least a small investment in cryptocurrency would be an interesting experiment at worst, and potentially very lucrative at best.

4 Ways To Make Money While Traveling

Whenever you manage to make money as you travel your journey can continue without limits. Traveling is a dream for many and the possibility to make money is one you most likely want to take into account. It is normal to be afraid of something completely new to you but the reality of the matter is that thousands of people already read the dream. Boris from dzhingarov.com is an example of such a person. We got in touch with him and he mentioned the following methods to take into account if your goal is to make money and travel the world.

Freelance Websites

There are numerous small and large businesses that post jobs on the internet for projects related to literally anything you could imagine and that could be done with the use of the internet, ranging from tutoring to web design. The freelancer that completes the job will receive a payment for it that is negotiated prior to the job starting.

Most people associated freelancing with working from home but since the internet is practically everywhere these days, why not take this to the road? With a little bit of planning you can turn this into a huge career as you visit the world.

Fiverr

Most people do not take Fiverr into account since the premise of the site is that you get $5 for various different things. It is easy to think that this is not a lot but what many do not know is that $5 is just the premise of the site. You can always charge more. What is particularly interesting is that people pay you $5 for some pretty interesting jobs that do or do not require technical skills. All you need to do is to take a look at the people that have great results. See why that happens and emulate them for better results.

TakeLessons.com

This is a site that is great for both students and teachers. The teachers are going to teach lessons in person or through internet apps like Hangouts or Skype. Online lessons are what you will consider although it is possible that you will find some clients where you travel so that that into account. Do not think that you cannot teach people because you do not have a degree. You can always offer things like acting lessons, language lessons, singing lessons or even work with technical subjects like WordPress or development.

Clarity.fm

The best way to describe this site is a combination of the other two mentioned below. The difference is it is business-focused so it is recommended for those that have experience with technology, design and online marketing. You basically create an account and set the call rate you have. This is how much people will pay per one minute in order to discuss with you via Skype or on the phone.

You may think that you are not an expert but just browse through the projects as you will be surprised how many jobs are available for something that you are actually experienced in.

Collecting and Creating Art For Fun and Profit

A lot of times, people will associate business with money, and things like art with entertainment or hobbyism. However, that doesn’t necessarily need to be always the case. For instance, you can figure out how to collect and create art for both fun and profit. In the money aspect is where some pupils interest will definitely be incurred.

Four categories in particular to look at when it comes to the financial aspect of art include buying art, following the value of art, learning to create marketable art, and considering the differences between online and physical location sales. Understanding the basics of these categories will allow you to see some of the financial underscores that are available in the art industry.

Buying Art

One of the topics that you have to learn about quickly after combining the ideas of art and money is how to buy art. The value of art itself has a tremendous range. And the algorithms that go into determining how much different pieces of art are worth is completely mysterious. There can seem like there is no reason or rhyme that mixes the idea of quality, time spent, materials used, or the reputation of the artist. The only thing that you can do is work with as much research as you can before deciding what kind of art to invest in.

Following the Value of Art

To understand the value of art, especially in a financial respect, you have to look at a number of different factors. There are buyer and sellers markets in every industry, and this is the same when it comes to art. A house in a neighborhood will hold different value at different times with different people, and from the perspective of different sellers and buyers. A single painting has both financial and emotional value in different formats from different people. Depending on whether you are investing in something that you want to resell, or something that you want to keep as an heirloom, that will change that equation as well.

Learning To Create Marketable Art

And you can’t go too far away from the topic of money with respect to art if you are constantly focusing on how to make things marketable. If you yourself are an artist, then you will be able to command much better prices if you have good marketing techniques. Some of this may be using tried-and-true methods, whereas other people try more creative routes. The point is to make it work for you in a way that creates the most financial feasibility.

Online Versus Physical Location Sales

And finally, there’s a big difference between online sales of art and sales of art at physical locations. Online, people see a digital representation. In person, they see the actual product. The difference between seeing details via pixels on a screen and details in person is a truly major factor in pricing. If you can figure out how to translate real-life details onto the digital screen, that will help you out, but the sort of option isn’t always available. Understanding the financial difference between these types of sales will help you decide which one is best for you.

3 Ways to Save Money By Caring For Your Home Plumbing

The plumbing within your home is often something that doesn’t get a lot of thought put into it on a daily basis. However, if your home starts experiencing problems with its pipes, drainage, or sewage, these issues can cause a lot of upheaval in your life. Not only this, but getting these problems professionally fixed can cost a lot of money. Luckily, there are a few things you can do to help prevent major problems from happening or to quickly spot them if they do happen. To show you how, here are three ways to save money by caring for your home plumbing.

Stay Away From Chemical Drain Cleaners

Clogged drains are one of the most common problems that people have with their plumbing. These issues can come about for any number of reasons and can show up in any room that has plumbing going to it. And while you can purchase products that will use chemicals to get rid of these blockages, HouseLogic.com recommends not using these products. Although they can help get rid of your blockages for a while, they often cause damage to your pipes, which can present even bigger plumbing problems in your future. So rather than trying this method, consider purchasing a drain snake and removing the clogs yourself to save money.

Look For Signs of Leaks

Leaking pipes are another common plumbing problem that can happen to anyone at any time. And even though a leak may appear small in the beginning, it can quickly become a water issue that gets out of control and costs you a lot of time and money to repair. Knowing this, it’s good to educate yourself on what signs could mean you have a leak. Ben Sanford, a contributor to Homes.com, shares that if you ever seen a puddle of water, smell a musty smell, or see mold growing, you likely have a leak somewhere. Don’t ignore these signs! Investigate to see if you can find where the leak is coming from so you can fix it fast.

Know Where Key Plumbing Parts Are

While there are small plumbing problems that can happen on occasion, there are also larger plumbing problems that can quickly cause a lot of damage and be hard to control without outside help. With this in mind, HGTV suggests always knowing where your water shutoff valve is and locating your sewer valve as well. If you have a major water leakage, you’re going to want to get that water shut off as soon as possible, and having to look around for the shutoff valve will waste valuable time. So before a problem even occurs, familiarize yourself with these two switches.

By doing some basic maintenance and knowing how to spot a problem, you can save yourself a lot of money on both home renovations and plumbing services. Use the tips mentioned above to help you be prepared the next time your plumbing has an issue.

Four Tips For Protecting Yourself From Personal Injury

So many things can happen to you and your family, whether you’re at home or out and about. When it comes to personal injuries, you have rights, but you also want to do what you can to protect yourself in the first place. You also want to do what you can to protect people that may visit your home and potentially injure themselves.

The first thing to do is to always be paying attention. In today’s busy, high-tech world that gets harder and harder all the time. Here are a few tips for protecting yourself, and saving money in the long run.

Know Your Rights In Slip And Falls

There are two sides of the coin when it comes to a slip and fall accident. You could be the one that slips and falls, or someone else could be the injured on your property. First, know your rights as an injured person. If a business didn’t have a sign up, or didn’t ice their sidewalk, you may be entitled to compensation to cover medical bills and lost wages.

If someone slips and falls on your property you need to know what you should be doing. Your home insurance might cover some of the bills. The best thing, though, is to keep falling hazards taken care of. Whether it’s a broken step, a missing railing, or keeping up on shoveling the sidewalk, diligence will save you money.

Get Insured

Make sure you do have homeowner’s insurance, just in case. But also have your own health insurance. It’s your health insurance that is going to help you and your family out the most in case of a personal injury.

Find out about worker’s comp as well, in case your injury happens on the job. If your business has this it could help you keep getting your wages even while you’re off work, and it could cover your medical bills with little to no out of pocket.

Never Text When You’re Moving

Driving and texting aren’t the only bad time to be texting. Even walking and texting can cause injury. You’ve probably seen the video at least once of the person walking and texting that falls into a water fountain.

Stop and take a seat, or at least stand still, while texting. Your phone can always wait, and it’s better to wait than end up with a broken nose or a broken arm!

Always Be Paying Attention

Pay attention even when you aren’t texting. There are accidents that can easily happen anytime, from a slip and fall to running over something with your bicycling causing a blowout and an accident.

Focus on the big picture, whether you’re walking, riding your bike, or driving a car. Know what’s going on around you and you’ll be less likely to have an accident.

Sources of unlimited financial freedom in retirement

Retirement does not always have to be looked at as a time of gloom and doom in one’s lifetime; with increasing dependency and flailing body that has been bitten by poor health and the harsh environments over the years. Equipped with financial literacy and having made proper financial planning before retirement, you can be able to make your retirement period the best you ever had in your entire life. It is during your retired years that you have the time to actually concentrate on the things that make you happy without worrying about a lot of responsibilities such as raising your kids, meeting deadlines for your bosses or even having to look for money to pay school fees for you kids.

If you financially planned your life well from a young age, by the time you are retiring you should ha e finished paying your student loans and the mortgage for your home. In addition, you should have also saved a substantial amount of cash to spend during your sunset years. But as we know, your savings will never be enough in an economy where the cost of living keeps rising every year. You therefore need to come up with better ways to continue growing your wealth even in retirement; so that you can have the peace of mind to concentrate on having fun as you age gracefully. Below are two passive income sources that you can venture into and ride in the wave of unlimited financial freedom in retirement.

Online trading of binary options

Online trading of binary options is a growing investment concept that has been simplified in such a way that anyone can easily learn it and start making money immediately.Lionexo online channels and other binary options trading platformsgive a step by step guide to new traders on the basics of binary options trading.  Later on you are introduced to more advanced trading skills through demo account; and eventually you transition and start trading on your live account.

In binary options trading, you are presented with a situation whereby all you need to do is to decide whether the price of an underlying asset will go up or down.  If you predict that the price of the underlying asset will go up, then that is referred to as a call option. On the other hand, if you predict that due to the prevailing market conditions the price of the underlying asset will fall, then this is referred to as a put option. Whenever you make the right prediction for the stipulated period of time, you gain; while on the other hand you lose if you make the price of the underlying asset moves in the opposite direction from the one you predicted.

The beauty of online binary options trading is that you can do it from anywhere in the world for as long as you have an online trading account and internet connection. In addition, you can make money both when the markets are rising and when the markets are falling; by either placing a call or put option. You do not have to wait until the markets are bullish to return profits in binary options; every market condition, including the worst of bearish trends are opportunities to make money. With some traders reaping returns in the north of 80% their initial capital investment you will be walking into a lucrative venture by investing in binary options trading in your retirement.

Investing in real estate

As a rule of thumb, you want to choose investment options that allow you time to be free and away from them even as they create more wealth for you in retirement. Investing in real estate provides such an opportunity; whereby you just need to buy or construct your rental property and start generating monthly rental income indefinitely in your retirement. To make it even more smoother to run your real estate investment, you can hire a property manager and let them be in charge of the daily operations at the property while you only receive your monthly check into your bank account. To get them to be disciplined, you should pay your property manager on a commission basis; so that they are motivated to work even harder and ensure maximum occupancy so that they optimize their commissions too.

If well implemented, the above two sources of passive income can chart your path to unlimited financial freedom in your old age. Online trading of binary options will allow you the freedom to travel anywhere in the world; while still making money on the go based on changing market trends. On the other hand, real estate investment will be providing you with a regular source of assured income; that you can use to pay all your regular monthly bills whether you are home or abroad travelling.

Ways To Use Money To Show Class and Style

When it comes to using the money that you’ve earned to present style and class to the people around you, there are definitely a few things that you can do to approach that end goal without coming across too strong. You’ll often notice that the people who have the most class and style aren’t the ones who throw it in other people’s faces, but rather use their lives naturally to share what they have.

Some examples of how you can potentially do this are to showcase nice furniture, buy understated jewelry, go to VIP events, stay humble overall with your clothing, and present food at your home in a way that people enjoy it to the max.

Showcasing Furniture

One of the best ways to show people where your style and class meter stands is by having great furniture at your house, including buying awesome chairs and tables. The perfect intersection of presentation is going to be when your furniture is practical, comfortable, and pleasing to look at. Higher quality furniture will tend to be more expensive if it either has some sort of history or is built to last as well.

Understating Jewelry

When you look at women and men to judge their approximate status in life, you’ll often look at their jewelry or accessories. Men will wear understated watches. Women will wear spectacularly beautiful jewelry, but it won’t be huge or gaudy. It will be detailed and perfectly matched to both outfits and situations. The better that you work with understated objects like this, the more people are going to look at you as a high-class person. Use this knowledge to your advantage when choosing your own outfits.

Going To VIP Events

Another way to show off your money in a classy and stylish way is to buy VIP passes to events. By doing this, you get to appreciate the essence of the entertainment, get to potentially go backstage and meet the people behind the show, and get the best food and drink a venue has to offer. You aren’t collecting stuff by spending your money this way, you’re collecting experiences!

Staying Humble With Appearances

Style and class are all about not putting yourself above other people. The best way to do this is to stay humble with your appearance. You can surround yourself with awesome things, but going overkill on your personal image is what turns people off and makes you look low-brow or that you’re trying too hard.

Presenting Food

If you have any sort of event at your home, a good way to use your cash flow to provide class and style is to really pay attention to food and food presentation. High-quality h’orderves on nice dishes go a long way in saying that you know how to treat your guests right.