Landlords should do this twice a year to reduce liability and save on insurance bills for their rental property.

1. Smoke detectors. Have the batteries changed in rental property smoke detectors and carbon-monoxide alarms twice a year. Make the first switch on day light savings time (2010 daylight savings time is March 14th ) then again in mid October. Don’t forget to test them!

2. Change the heater and air conditioner filters on the same schedule. This keeps clear air coming through the system and also extends the life of the appliance which is less cost to you. If you have property located in hard water areas and the property has a water softener, make sure the water softeners are looked at and the salt replaced on the same schedule.

As silly as it seems, I prefer to have an independent party do these maintenance items rather then my tenant. I am sure my tenants can do this, but feel more comfortable and am happy to pay the small bill then to incur the much larger expense.

Have you ever asked yourself “what could I have done differently in planning for my retirement?”

Many of us have depended on others to advise them and invest their IRA or (k) plans on their behalf. There are many excellent financial advisors out there who do what is in the best interest of their clients. They listen to their needs, assess their level of risk and invest accordingly. However, no one is ever going to care about your money as much as you will. Your retirement plan is one of the last tax-enhanced programs available to you.

With the majority of baby boomers approaching age 65 in this decade and the outlays for Social Security beginning to exceed income collected from payroll taxes bu 2016, we need to seriously take steps now to grow our IRA. Let’s face it, we can’t count on Social Security or other government programs to provide the income needed to secure a comfortable financial future. It’s time to do some planning and to take responsibility for the growth of your retirement account. It’s not too late!

Add value to your retirement plan by taking control and diversifying into a self-directed IRA. This type of IRA allows you to select assets and acquire them directly, on behalf of your retirement plan. From Real Estate to Gold Bullion (and just about any other hard asset you can think of), a truly self-directed IRA must be a part of your plan.

What do you need in order to invest your IRA dollars directly? You need a third party administrator or record keeper who follows your direction and can provide the services necessary as well as be in compliance with IRS rules and regulations.

However, not all administrators or custodians are created equal. You must do your own due diligence. Here are three areas to watch:

1. Make sure your administrator or custodian keeps your cash in FDIC insured funds. All of your funds. Every day I see companies popping up claiming their administrator or custodian keeps the cash insured. Read the fine print as this is not always the case. In one recent presentation, I heard about a custodian who mixes your cash with some insured funds and some funds that are not insured. Make sure you know where your money goes.

2. Watch out for companies that sell other products and offer an IRA for free when you buy their product or services. Normally these ’services’ run into the thousands of dollars. You do not need to spend thousands of dollars to have a self-directed IRA.

4. Finally, watch out for the overpriced seminars where people spend a fortune to learn “investing techniques” that will make them rich quickly. As many new ones pop up as go out of business. Your education should not cost more then your home, savings, or your credit card limits!

It’s not necessarily about what you invest in; it’s about how you do it! With a self-directed plan you get to choose. Visit The Entrust Group (www.theentrustgroup.com) and learn what it really takes to be in control of your IRA.

What could you do differently in planning for your retirement? Having a self-directed IRA is a good start.

I recently read in the February edition of Town and Country Magazine an article on Ariana Huffington, one of the top bloggers in the country. She had 6 tips for staying on top by being fearless. These tips resonated with me so I thought I would include the abbreviated version of them in today’s posting to help the professional woman gain confidence and be fearless! Enjoy.

1. Surround yourself with other women who will always be in your corner, always be there for you.

2. Be willing to fail and be open to learning from failure.

3. Tell your inner critic to “shut up.”

4. Our culture still isn’t comfortable with outspoken women, but don’t let that stop you from speaking your mind.

5. Get some sleep!

6. Persevere. Remember that fearlessness is not the absence of fear, but the mastery of it. It’s getting up one more time than you fall down.

Taking care of an aging parent or loved one can be extremely stressful on your household, finances and your emotional well being. Below are resources to help you manage this task whether you are home taking care of your loved one or live thousands of miles away.

Peace of mind and a little help from these resources can help you cope with whatever illness or accident your loved one is facing.

Family Caregiver Alliance – www.caregiver.org
National Family Caregivers Association – www.nfcacares.org
Faith in Action – www.fianationalnetworkorg
National Institutes of Health – www.nih.gov

With all of the web sites out there on medical conditions, few have resources that can help caregivers or family cope with a loved one in decline. Take advantage of these resources to help support you!

With housing costs averaging $17,000 a year we all need to find ways to reduce on our largest budgetary expense; our household.

Here are 5 ways to save you thousands of dollars this year!

1. Appeal your tax bill. Recent market declines mean you may be paying too much in property taxes. Contact your local assessor or tax collector for details. You may even be able to do it online.

2. Look into refinancing your property while interest rates are still low

3. Look into reduce your mortgage payments through a loan modification. Check out www.makinghomesaffordable.gov for details.

4. Consider boosting the deductible on your homeowners insurance policy.

5. Cut back on energy usage. Just dropping your thermostat from 70 degrees to 68 can save you big bucks.

Remember when the Sweethearts candies said “Be mine”? Well this year, those Sweethearts are getting into the modern technology age!

Here are the top 10 phrases printed on Sweethearts Candy for this Valentines Day.

1. Tweet me
2. Text me
3. Love Bug
4. Your Rock
5. Sweet Love
6. Me + You
7. Sweet Pea
8. Soul Mate
9. Love Me
10. Puppy Love

What ever happened to Be Mine?

Happy valentine’s Day!

If you read the headlines of papers like the Wall Street Journal you would think that being a landlord would be a disaster. Headlines like “U.S. Now a Renters Market, Landlords Cut Prices By 3% in 2010″ would scare off the best of us.

It’s important to read stories like this carefully. Doing so would tell you that a story like this applies to major companies who own apartment complexes and that the research came from that specific type of investment entity.

For the individual investor who buys and holds single family real estate, does this apply? The answer is “it depends.” When you actually think about it, would tenants rather live in an apartment or a single family home? Given the choice, my guess it they would choose the single family home.

Even if you have been in a situation where you have had to lower your rents in order to keep good tenants, you are still taking advantage of the tax benefits and depreciation of owning real estate. With the potential of inflation, inventory lessening and employment getting a bit stronger (depending on your marketplace) you may see rents rise in the future.

The message here is to hold on if you can afford to! What goes down eventually goes back up.

2010 brings with it some changes to the tax code. Here are the top three tax changes that you should pay attention to this year.

1. Estate Tax
2. ROTH Conversions
3. Gift Tax Exclusion

Whether any of these tax rules changes applies to you, you should seek the advice of your tax adviser or CPA and as always, do your due diligence to think and grow rich.

Does your team or your prospects feel a lack of trust or confidence in your message or in your customer service? As with any relationship, a lack of trust in a business relationship is a big deal. It can undermine all of your hard work; costing you time, money, and loyalty.

So how do you build trust in your business relationships?

1. Make sure you are consistent in your leadership. No matter where you go in the world, McDonald’s delivers the same burger. Your goal should always to be consistent in all of your business dealings, from employees to customers.

2. Make sure you are clear in your instructions and your purpose to the world. You are your message so you need to be clear on what that message reflects.

3. Show your human side. Do you have a favorite charity? Do your children work in your business? Showing what your interests and hobbies are gives people a better understanding of who you are and what you really care about.

The bottom line is that people do business with people they know and trust. Those who are the most trusted are the ones who will thrive and survive in any economy!

If 2009 was the year of the financial loss, 2010 must be the year that we wise women focus on what we have!

Have you ever heard the saying; “The best things in life are free?” Below are 5 suggestions (I am sure you can come up with many more) on how to reduce that “material girl” instinct and still live the life of your dreams.

1. Give up the gym membership and meet a friend for daily walks.
2. Entertain more at home with family and friends.
3. Borrow best seller books from the library.
4. Invest in Relationships. Take your kids to open a savings account at the local bank and let them make deposits. Even at $1.00 per month they will learn the value of saving money and you will enjoy the “ah ha” moment they get when they see their bank balance!
5. Pick a charity and make it a family affair. Helping others as a family is a great way to give back to your community and provides life lessons for your kids!

These tips will not only will you save money, but you will end up appreciating what a fulfilled life can be!