KTs Money Matters

In this episode, KT discusses:

Economists' viewpoint on tariffsPresident Trump initiating tariffs on both steal and aluminumWhat other countries are doing with tariffsGood and services on a budgetKey Takeaways:

Tariffs can drive up the cost of thingsWe as consumers are not willing to pay more for clothing which tends to enable the negative side of a tariffThe average hourly wage of a worker has been fairly flat on an inflation adjusted basis for the past 8 years"The most hurt consumer in a tariff war is the middle class.. Because they shop in the stores that carry the most stuff that's brought in from around the world." - KT Thomas

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Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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In this episode, KT and Rachael Ela discuss:

When you should go into a physical bankAt the death of a parent, what do you do?What banking precautions you can put in placeHow to not take away dignityKey Takeaways:

Your parents' local bank will notice when your parents start to do things out of the ordinaryLook at your parents' statement or get access to their online bankYou don't need to take over your parents' accountsWhen you notice a change, start having a conversation with them"Getting online access to your parents bank while your parents get the paper statements is a great way to monitor their account." - Rachael Ela

About Rachael Ela:  Rachael Ela is a Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center, and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Me Here: Rachael Ela

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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Taking Care of Aging Parents

In this episode, KT discusses:

When should you help your parentsHow to step in to helpParents don't want to ask kids for helpKey Takeaways:

Aging is an undignified processHelp your parents watch for elder fraudWatch closer when they are older than 75"When you are by yourself it’s a lot more difficult." - KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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In this episode, KT and Karen Briscoe discuss:

Compound interestHow to write a successful bookHow Karen measures successActing on your thoughts 

Key Takeaways:

Make sure you create good habitsStay focusedDo one concept a dayThere is so much left to do"Am I at my highest and best right now?" - Karen Briscoe

About Karen Briscoe: Karen Briscoe is the creator of the transformative "5 Minute Success" concept. Her books Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed and Commit to Get Leads: 66 Day Challenge® offer a combination of information and inspiration delivered through memorable stories. The daily format with takeaway to get into action propels one to achieve success at a higher level in business and life. Topics include: Commit to Get Leads; Consult to Sell; Connect to Build and Grow; Success Thinking; Activities and Vision; which all lead to the Sweet Spot of Success.

Her first book was featured in INMAN as “must read for your best year in real estate” in 2017. Amazon ranks the book in the top 1% in its category. It has been endorsed by industry leaders Hal Elrod and Michael J. Maher. She is a contributing author to INMAN and Real Trends real estate media outlets.

Karen is the host of the 5 Minute Success podcast which currently ranks on Overcast #1 most recommended in the business category. The show has an amazing array of guests who achieve success at a high level. Karen also is a frequent guest on other podcasts that focus on entrepreneurial, success and motivation, as well as real estate related topics. She speaks on a national and local level on the “Best of 5 Minute Success.” Further she has completed the John Maxwell Team Certification Program for Coaching, Speaking and Training.

Connect with Karen Briscoe:

Website: www.5MinuteSuccess.com

Facebook: https://www.facebook.com/groups/5minutesuccess/

LinkedIn: https://www.linkedin.com/company/11064759/

Twitter: @5MinuteSuccess

Podcast: 5 Minute Success

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

Show notes by show producer: Anna Nygren

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The Problem with Timeshares

In this episode, KT discusses:

Value of timesharesWhat to expect from the sales personHow to get out of timesharesKey Takeaways:

Timeshares are not an investmentTimeshares are like prepaying for vacationsThere are better ways to invest your money"If you have to finance it, you probably can’t afford it." - KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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Those Who Pay the Most, Save the Most

In this episode, KT  and George discuss:

Tax changes and its effect on high earnersUnreimbursed expenses from homeUpcoming changes of alimonyThings that have changed/have not changed 

Key Takeaways:

Phase out of the itemized deductions means a lot of what people think they lost in the tax changes might have been dramatically reduced before the billIf someone is making over $250,000 taxable income (married or joint), they'll be in the 33% bracketThere have been no real changes in capital gains taxes"Those that pay the most under these [tax] changes will save the most… those who pay the least, have the least amount to get back." - KT Thomas

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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The Word Around the Most Recent Sell Out

In this episode, KT discusses:

The signs when things are getting too frothy in the marketFOMOWhen to buy, for investment reasonsKey Takeaways:

When people are talking about how good things are or if people are defending the priceBy the time you like the look of something in the market, usually the price has gone byFor investments, buy things that aren't at their all time high 

"FOMO... People don't want to sell because they don't want to miss the next move up." - KT Thomas

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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Treading Carefully with Self-Employment and Taxes

In this episode, KT  and George discuss:

A recent change in corporate tax reformThe benefits of being an S corporationSmall business owners sweetening the tax situationKey Takeaways:

A pass through entity is an entity where the net income passes directly down to the individual tax payerIf you're a single individual and your taxable income falls under $157,500… you can take that 20% deduction off your bottom lineWhat effect is this tax reform going to have on the real estate market?"Corporate tax reform hasn't been done in the is country in many years and as a result a lot of our bigger companies have begun to keep and declare their assets out of the country." - KT Thomas

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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Click here to reach KT  

In this episode, KT discusses:

Common steps to managing money betterTaking care of your bills and upgrading your cybersecurityWhere you should physically keep your money 

Key Takeaways:

Open your mail and read itWhen's the last time you changed your passwords?Don't bury money in your backyard! Put it somewhere safe 

"You shouldn't have piles of bills all over your house." - KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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George Ferullo 

In this episode, KT and George discuss:

Getting taxes done this yearKeeping a cool financial headWriting off state and local taxes against the federal returnThe trade off 

Key Takeaways:

Your total tax obligation may not change as much as you thinkNot everybody is going to save taxesAlternative minimum taxes is a method on how to calculate your tax liability (state/local taxes and miscellaneous itemized deductions)… it wasn't adjusted along with inflationOnly children under the age of 17 at the end of the tax, qualify for the tax credit 

"This is a very, very complex tax code that has just been introduced to us… so tread lightly." - George Ferullo

Connect with KT Thomas: https://ktsmoneymatters.com/

Twitter: KT Thomas

Purchase KT's book- The Hardworking Woman's Guide to Money

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