Financial Clinic 101

Financial Clinic 101 Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Financial Clinic 101, Financial Consultant, 710 W Bay Street, Tampa, FL.

10/02/2019

hey I have $80,000 in cash, should I pay off all my debt or invest it?

rule of 72 will tell you to invest it for 15 years...earning to $320,000 !!!!

pay your debt off with your earnings....slowly over time

let your investments grow by the rule of 72

10/02/2019

The rule of 72....the rule of 72 states that your money will double every 7.2 years if it is in an investment earning 10% year.

Blah Blah Blah...what does that mean?

If you had $100,000 invested at 10%; it would be worth $200,000 in 7.2 years.....wow.....it would double again to $400,000 in the next 7.2 years.

this is any easy calculation for growing a lump sum of money

wow money grows fast

09/18/2019

Wealth Wednesday
Your Rich uncle leave you $50,000 and a note.

the note says; nephew/niece here is $50,000,
please buy a large cap mutual fund and
let the money sit for 15 years (10% return)
at that time the money would be worth $200,000

You want to pay debt now of $50,000

what is better for you?
to be debt free now or be loaded in 15 years?

screw that debt ….YOU want the money

Your Rich Uncle would agree

09/17/2019

Tax Tuesday!!
Does all income have the same tax rate??
no...some income is taxed differently
example: qualified dividends are taxed at 15%
therefore if you made 500,000 in dividends your tax bill would be $ 75,000 vs. $130,000 for regular income.

I want dividend income!!!!

09/04/2019

Saving for a rainy day and being prepared for a hurricane are not the same.

Bless those folks in the Bahamas who are suffering.

08/29/2019

What is a good investment?

A good investment pays you earnings annually
and you can always recover your initial investment.
money market and mutual funds can fill this need

your brother-in-laws idea to "start a bar" may NOT give you annual earnings and you may never see your initial investment ever again....that would make that a BAD investment

08/28/2019

Extra Taxes??? Yes there are a couple of taxes for those making greater than $250,000.

On your wages you will pay another .9% on income your W-2 greater than $250,000.

If you make more than $250,000 there will be a 3.8% tax on all investment earnings.

08/23/2019

If you had $100,000 in cash would you use it to buy a beach condo or use it to rent a $10,000/week beach condo for the next 10 years?

Same $100,000

buy a condo
or rent a very very nice unit

buy the condo and you will have to pay a mortgage, tax bill and real estate tax...untll you sell it

or try to find a beach rental that goes for $10,000 rental for 1-2 weeks...how nice of a unit can you get for $10,000???

very nice!!! and no ongoing expenses unlike the condo purchase

Tax Talk..do we have personal exemptions any more?no, there are no more personal exemptions on your federal tax returnso...
08/22/2019

Tax Talk..
do we have personal exemptions any more?

no, there are no more personal exemptions on your federal tax return

so the tax strategy to have a lot of children to write off on your tax return....probably no longer a benefit

08/14/2019

Wealthy Wednesday
How do we make money with a Stock?

Stocks make money two ways.

The company pays out the profit of the company issuing a dividend to the share holders annually.

We sell the stock for more than we paid and that is called Capital Gains.

08/13/2019

Tax Tuesday
Federal Income Tax on $400,000 is less than 25%. In Belgium tax on $30,000 is 50%.
People are always happier to keep their money!!!

08/13/2019

Checking Account vs. Money Market Account...which bank account is best for me?

Money Market Accounts pay more interest but will require a large minimum balance....$5,000-$10,000 to stay in the account

A checking account may pay a small amount of interest but will not require a large minimum deposit in the account.

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710 W Bay Street
Tampa, FL
33606

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