Rick Brooks

rss feed

Rick Brooks's Latest Posts

Should I Buy or Lease My Next Car?

| August 6, 2019 | 0 Comments

For some people, the decision whether to buy or lease a car is simply a matter of preference. But which is the better financial decision? To answer this, you must evaluate long-term cash flows and winnow out the (often hidden) costs. This can be difficult to do, especially when the salesman is tapping his finger […]

Continue Reading

Turning Savings Into Income

| July 3, 2019 | 0 Comments

One of the most common questions we hear from people preparing for retirement is, “How do I access my savings now that I won’t be working anymore?” It requires a bit of a shift in thinking, especially for those who’ve diligently saved funds into retirement and savings accounts. What you need is called a “Withdrawal […]

Continue Reading

Investing In Real Estate 2: How Not To Invest In Real Estate

| June 5, 2019 | 0 Comments

Last month, I discussed some of the benefits of including real estate in your investment mix. These include income, diversification and, in the case of owning property directly, some significant tax advantages for owning income properties. I also mentioned that there are some versions of real estate investing which are more attractive than others. A […]

Continue Reading

Investing in Real Estate

| May 13, 2019 | 0 Comments

Real estate as an investment can be very profitable. It has its challenges, especially if you are buying property and managing it yourself. But done properly, real estate can provide cash flow, diversification and other benefits to your investment portfolio. Fundamentally, investing in real estate is basically buying an asset, leasing the asset to others […]

Continue Reading

Should I Retire in A Lower Tax State?

| March 8, 2019 | 0 Comments

When considering how to plan for a comfortable retirement, taxes are a significant consideration. Taxes of all types are among the largest contributors to your cost of living during retirement, and cost of living can make the difference between a comfortable retirement and a meager one. What’s more, high state and local taxes have been […]

Continue Reading

On Valentines Day, Give your Spouse the Gift of Security

| February 1, 2019 | 0 Comments

Valentine’s Day is the third-largest consumer holiday in the U.S., with about 19 billion dollars spent in Cupid’s name each year. It’s big business for florists and chocolatiers, with over four billion dollars spent per year on flowers and candy alone. Flowers and candy are great, don’t get me wrong, but as a gift for […]

Continue Reading

Keeping Track of Multiple IRAs

| January 7, 2019 | 0 Comments

Besides losing weight and getting in shape, one of the more common New Years’ resolutions is getting organized. It’s also one of the first steps in the financial planning process because it makes keeping on top of your finances a lot easier. Nowhere is that more important than with your retirement savings. This is because […]

Continue Reading

Creating Your Best Retirement Isn’t All About Money

| December 2, 2018 | 0 Comments

A 2014 study of retirees done by Merrill Lynch and Age Wave led to the following conclusion: “Retirees say health is the number one ingredient for a happy retirement.” Financial security, family and purpose were all important, but health was tops. And this makes perfect sense, as good health leads to living longer, having more […]

Continue Reading

Common IRA Mistakes in Retirement and How to Avoid Them

| November 5, 2018 | 0 Comments

The most common IRA mistakes made in retirement are easy to avoid. Most come from not understanding the complex rules surrounding Individual Retirement Accounts (IRAs). Others come from trying to game those rules to avoid paying taxes. As tempting as it might be to try to avoid paying taxes on retirement savings distributions, breaking the […]

Continue Reading

Protecting Your Travel Investment

| October 3, 2018 | 0 Comments

A lot of Baby Boomers have been retiring recently, and a good many of them have spent that extra time travelling. For some, that has meant hopping in a recreational vehicle and roaming the highways and byways of the Continental United States. For others, that has meant jetting off to destinations they didn’t have time […]

Continue Reading