Know Your Strengths: Divide Your Tasks

Once you’ve gotten through some of the basic stuff when it comes to personal finance, some of the more advanced topics share much in common with running a small business. One of the most amazing things that you can do for yourself when it comes to personal finance and when running a small business is to know your strengths and your weaknesses.

According to an article by Reuters, “According to U.S. Census estimates, the median income for men between 25 and 34 in 2005 was $31,161. In 1975, adjusted for inflation, it was $35,296. The comparable data for female workers was $22,815 in 2005 and $16,247 in 1975.”

As always, I must state that all of the information in this article is opinion and speculation and not a particular endorsement of the market, any market segment, or any particular investment. I am not an investment professional; I’m just an average person. For any investment advice you should do your own research and consult a professional.

The IRS is generally skeptical about business ventures that span for many years without turning a real, taxable profit. Therefore, it is important when starting or running a business that you are working hard to create a profit, even if the company is private.

In my first article, I explained a little bit about the downsides of rental properties as something you might consider before purchasing one. Here are some more details.

Renting isn’t Forever:

Personally, one of the things that I really enjoy is when I am able to give something or get something without having to really give much up. It sounds rather obvious, but I’d like to share a few examples to give you an idea of what I mean.

Are you thinking about purchasing a rental property? In this two-part article, I will explain why this might not be a good idea AND provide an alternative way to diversify some of your investment dollars into real estate.

Consumer confidence is at a high, according to a recent report by the Associated Press. Consumer confidence is the measurement that describes how comfortable consumers are when it comes to spending money. This, in turn, makes people excited because if consumers are spending money, that means that there is room for the economy to grow.

Not All Roses

Recently, I received a couple of books related to personal finance as part of a contest that I entered. And since the books were related to personal finance and was part of a series that I had not seen before, I opted to work toward doing a review of the two books. The first book titled “Credit Scores, Credit Cards” by The Silver Lake is reviewed below. I will a link to this entry with a link to the second book once I have finished reading and reviewing it.

One of the most interesting factors when it comes to personal finance for me is inflation. Inflation changes the buying power of currency over time. It changes the real value of debt and loans. And it changes the real value of assets.