Our Adventures with a Roth IRA

A little less than a year ago, my wife landed a position with a wealth management department of a large bank.  It took awhile, but finally their compliance department said we could not keep my 15-year-old daughter’s Custodial Roth IRA at its then current custodian.  We would have to move it to their custodian.  So I contact that financial company.

Now we are talking about less than $500 in the account (Time value of money,  little deposits over time will grow into a huge amount!).

The company that her compliance department required me to move the account to cannot accommodate a custodial Roth IRA.  The other part of that broker dealer can, but my daughter’s balance is WELL below their $250K minimum balance requirement.

So I begin to hunt for a bank who can open this account, just sock it away in a money market account IRA until she is 18.  Don’t like missing the potential growth of a mutual  fund investment, but it is what it is.

Well, after having conversations with 6-7 banks, both local and national, not one of them could open this type of account.  One even offered to open the IRA in her name, I could make deposits to it, but NO ONE could make withdrawals or close the account until my daughter reached 18!

Wow.  See, because my daughter is under the age of 18, she cannot sign agreements like an IRA agreement.  So, a custodian (like Dad) is the signer, acting on her behalf, but the custodian has no ownership in the account.  Simple, but beyond the ability of most banks to do.

A Roth IRA can be opened by or for ANYONE with an earned income, even if they are an infant (baby in a commercial?  Just drop that $5K commission check into a custodial Roth IRA earning 8% for the next 60 years and it grows to almost $600,000.00 tax free)!

For the time being, my daughter’s Roth IRA was moved out of the protective umbrella of Roth and into a minor savings account.  She is working one day a week, and we are tossing HALF of her pay into this retirement account.  She won’t even have the maximum (currently $5500) annual investment limit when she turns 18, but starting her out so she lives on half her income can turn her into an early retirement superstar!

Stay tuned!

Be Rich in Your Life

Your life will be a success once you realize that it is the people and experiences in your life that make you rich, and not how much stuff you have. You can’t drive that leased car on your deathbed, but you will surely remember all the people you love and who loved you, and the things you did together. Live BELOW your means, get our of debt ASAP, and invest all you can (some folks are able to tweak their lives so well that they invest 40-50% of their income every year!

Roth IRAs, Part II

Roth IRAs, Part II

There is a lot to learn about Roth IRAs, and we are covering the main points in these two articles. When you decide to open one of these accounts, please seek out professional advice, and also seek out a tax professional for those type of questions. What we write here is correct to our best knowledge as of July 2014, but tax laws can change, so consult a tax expert.

That disclaimer out of the way, it’s on to Part II!

We have not talked about contribution limits, and distribution rules, so let’s jump in the pool, OK?

Any money going into IRAs, Traditional or Roth has to come from earned income. If you get your income from interest, dividends, or other unearned pay, these retirement accounts are beyond your reach.

For folks with earned income, as of the 2014 tax year you can invest $5500 a year into a Roth IRA, $6500 if you are over 50 years of age. Using a monthly cash flow plan (and you should), that would mean investing $458 or $541.66 per month. If you can’t do that much, that is certainly OK. There are investments out there that you can start for a little as $100.00 1. Get out of debt, 2. grab whatever free match money your employer is offering in your work retirement plan and then 3. open your Roth!

But Roth IRAs also have income limitations. If you make too much income, you can’t contribute to a Roth IRA.* The only IRA high income earners can contribute to is a non-deductible (after tax) Traditional IRA.

See the asterisk? It’s an important one for high income earners. We’ll talk about that asterisk VERY soon.

In 2014, the IRS limits your ability to contribute to a Roth as follows:

Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $181,000. You cannot make a Roth IRA contribution if your modified AGI is $191,000 or more.

Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2014 and your modified AGI is at least $114,000. You cannot make a Roth IRA contribution if your modified AGI is $129,000 or more.
Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more.
*Here’s the asterisk explanation. High income earners can still have a Roth IRA! How? They first contribute to an after tax Traditional IRA, and then convert that IRA into a Roth IRA IMMEDIATLY!
There are no income rules affecting a person’s ability to convert a Traditional IRA into a Roth, you just have to pay taxes on whatever has not already been taxed. Well, if you just opened an after tax Traditional IRA and convert it right away before it has any growth, you can have a Roth with no tax or penalty. Financial folks call this a “back door Roth”.

OK, that’s the contribution part, putting the money in. Now, here are some of the important things to know about distributions!

First, money placed into a Roth to avoid taxes and possible tax penalties, must stay in a Roth until the later of age 59 ½ years of age OR at least 5 years after you open the account. There are exceptions to this rule, but in general, that’s what you need to know. Here’s how it works. If you open a Roth IRA when you are fifty, when you turn 59 ½, you can remove any or all of the money tax and penalty free, because you met both tests. Even if you made a contribution in your 59th year, your IRA is more than five years old, so no tax is due, even if you take out this year’s contribution!

The order of withdrawal is important to remember too. For tax purposes, distributions are considered to be coming from your contributions first, and earnings second. Because contributions are after tax, you won’t owe federal tax on them, just on the growth if the distribution does not meet the age tests or is being removed because of a qualifying exception.

Remember though, that Roth IRAs can always be contributed to with earned income (unless you are a super high incomer after age 70 ½ that is), as long as you live. And you can let it grow, grow grow tax free for as long as you want. Let the power of compound interest work for you, and grow your money tax free in a Roth IRA.

A final note: Much more detail can be found in IRS Publication 590 (link here is the 2013 version), consult a tax adviser for accurate tax advice and an investment adviser on where to invest your hard earned Roth contribution.

TTFN!

Roth IRAs, The Whats and Whys Part One

It’s June, and school is out or almost out for the summer.  Our thoughts turn to summer vacations, cold drinks and cooking outdoors. So what better time to talk about Roth IRAs?

Roth IRAs?  In June?  Aren’t Roth IRAs so April 15thy?  Why now?  Now, because NOW is the best, most perfect time to open your own Roth IRA!  Run, don’t walk to open a Roth IRA and here, you can learn the whys and hows of Roth IRAs today!

But wait,wait, wait.  I don’t even want to start talking about Roth IRAs until we cover some quick information about your company’s retirement plan.  If you work for a company (1) and they offer you a retirement plan (2) that you are eligible to participate (3), look here BEFORE dedicating money to a Roth IRA.  See if your company offers some of their money in a match for what you put into it.  If they match, please, please put enough into the company retirement plan to get that FREE MONEY the company match represents.  Enough said.

What’s in a name?  Just what is a Roth IRA?

A Roth IRA  is an Individual Retirement Account that you open yourself and you fund yourself.  It’s different in those ways from your company retirement plan, and it also differs from a Traditional IRA.

Differs how?

With a traditional IRA, you might be able to contribute pre-tax money.  Roth contributions are always after tax.

Traditional IRAs grow tax deferred; if you hold the money within the IRA until you are at least 59 1/2, you won’t pay any taxes until you take money out of the IRA.  Then, any money not taxed going in will be taxed per the tax rates in effect when you use the money.

The Roth IRA, if you hold it until you are 59 1/2 or five years from when you open the account, money taken out is free of federal taxes.  Yes, tax-free!  You see, your money went in after taxes, so that won’t be taxed again, but the growth in your account is not taxed either if you meet the five-year or 59 1/2 rule.

Traditional IRAs have an “end of the ball” bell that rings when you turn 70 1/2.  Two important changes happen at that point.  One, even if you are still working, you can no longer contribute to a traditional IRA.  Worse yet, whether you want the money or not, there is a Required Minimum Distribution rule that comes into play.  Using formulas (not going into them here), the IRS requires you to spend down your IRA until it is exhausted at age 100.  (This rule is also in place for 401K type accounts).

At 70 1/2 with a Roth IRA, neither of these things happen.  You can still contribute earned income to a Roth (as long as your income is not too high) AND THERE IS NO REQUIRED MINIMUM DISTRIBUTION EVER!

Well, I have bored you with this important information long enough.  Look for a Roth IRA Part Two, soon.  Happy Saving!!!!!

Oh, the smiling white guy in the middle of the post is Senator William Roth, the legislative sponsor of the bill creating the Roth IRA.

 

 

 

Using Personal Sinking Funds To Improve Your Financial Situation

No, not this kind of sinking!

This kind of sinking:

     “Sinking funds” are often used by governments and corporations.  What the do, they set aside large sums of money to pay off certain debts and obligations.  But here, we are using the same term and principles on a personal level to help you make a brighter financial future.

     When creating a cash flow plan for the first time, a lot of your money will be going to work on monthly obligations; food, mad money, utility bills, loan payments and so on.  But there are some spending events that are not monthly, and a few are not even yearly, and it is for these events you can use a sinking fund process to great effect.

    Cash Flow Plan items to consider for this process:  Gifts, vacation, car repair, car replacement, house repair.  More you can probably think of.  These events are important, but maybe not too much on your radar because the events are so far away.

    But, if you build your cash flow plan to SINK small amounts into these categories every pay, with time these categories will GROW so that (for example) you will never again sit around the Thanksgiving dinner table wondering how to pay for gifts.  Out come the credit cards and the January bills to follow.

    OK:  Say you want to spend $1,500.00 on gifts this year, and you get paid every two weeks.  Starting with your March Cash Flow Plan, you will transfer to a savings account (or to a cash envelope marked for gifts) $68.19. ($1500 divided by the remaining 22 pay periods.  Come Black Friday, you will have $1,363.80 plus a tiny bit of interest.  Cash to buy gifts, and NO DEBT!

    Throw $90.91 each pay into a car repair Sinking Fund, and be year’s end you will have a car repair budget of $2000, minus maybe one oil change and other repairs.  NO DEBT!

   Look at what you want to spend per year (or per period) and you can use the SInking Funds concept to slowly build yourself enough to fund your dreams with your money and NO DEBT!

   Sinking Funds.  Add this powerful weapon to your financial arsenal today, if you have not already.  Don’t be a slave to the lender!

Get Rid Of Your Money Mosquitos

Are Money Mosquitoes Buzzing Around Your Head?

Here in the Polar Vortex time of year (Wow, another new weather term! Didn’t they use to call these cold snaps?), our thoughts of the bloodthirsty parasites that harass us in the summer are yet months away.

 But for many of us, there are money mosquitoes sucking some of your income out of your hands on a regular basis. Money mosquitoes are companies that give you things like 30 day “free trial” and count on you to forget to cancel the “service” before the fees begin.

Compounding the problem are people who never balance their checking accounts. Far too many people monitor their balances every month like hawks, curtailing their spending when their account “gets low”, but never examine all the transactions that got their balance to that low level. If they did, they might find a couple $19.95 charges they did not know were happening.

 Here’s some of the deals that suck your money away:

 1. Credit Monitoring/ID Theft Service (sometimes added when you buy your credit score): There are three credit agencies in the United States; Experian, Equifax and Trans Union. And there is one website that you can visit to get a copy of your credit report that will not try to scam you. Here is the link to Annual Credit Report.com. You are allowed a complete copy of each of your three credit reports FREE once a year. But if you pull each report every 4 months, and look for anything unusual (accounts you did not open, inquires from places you did not apply for credit). Do it yourself for free! The Annual Credit Report site itself suggests this method:

Should I order all my credit reports at one time or space them out over 12 months?

You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting companies through the AnnualCreditReport.com request service. You can decide to order all three credit reports at the same time or order one now and others later. The advantage of ordering all three at the same time is that you can compare them. On the other hand, spreading out your requests can help you keep track of any changes or new information that may have been added to one or more of your reports.

2. Online memberships (Shopping, Travel, etc): These also usually begin sucking your money away after the free trial. Good luck trying to get much benefit from these memberships, but the companies sure are raking in the fees! Look on your bank statements for these transactions; in the long list of numbers after the transaction will the the toll free number you can call to swat these money suckers away and cancel the services!

3. Extended Warranties: Be it electronics, furniture, even cars, extended warranties would not be offered if they weren’t profit makers for the companies offering them. If you have a cash flow plan going, monitor your transactions and sink some of your own money into repair categories (because you know things break), you will never need an extended warranty. And some of these policies, like car warranties, are not cheap. Oh, for those of you who read my last post, “Wait, you just talked about an extended warranty for the Certified Used Nissan Altima!” That extended warranty added more than $2400 to the price of that car. But for the purpose of comparison to the leased cars, that example presented a more apples to apples comparison. In that scenario, a person who bought a 3 year old Certified Used car and bought an extended 7 year 100K bumper to bumper warranty came out so far ahead of someone else who leased cars, the car OWNER had $3000 a year to pay for repairs once the bumper to bumper warranty expired and still came out more than $3000 ahead of some one who leases cars. Not taking the warranty would make the car $2400 cheaper, and you would have $1500 A YEAR to sink into repairs every year and still come our over $5000 ahead!!!!

There are many other mosquitoes out there, companies are thinking up new ways to separate you from your funds as quickly and as painlessly as possible. Hey, if you don’t feel the mosquito land on you and pierce your skin, it’s a win for the wee beastie.

BALANCE YOUR CHECKING ACCOUNT, MONITOR YOUR TRANSACTIONS AND SWAT THESE MONEY MOSQUITOES OUT OF YOUR LIFE! 

Leasing A Car? You Have A Math Problem

Consider Leasing a Car? You Have A Math Problem

Lease This? Read On!

 

We hope everyone had a good holiday, seeing friends and family. In a continuation of money savings steps (and a different way to look at these steps to boot), we are talking today about how car leases are the wrong way to go in every situation we can think of.

 

I came across a local Nissan dealer add for a 2014 Nissan Altima. $249.99 a month for a 36 month lease. NICE! Brand new car, roll with it for three years, and then trade it in for another one. “I’ll never have a car older than three years, and never have a car out of warranty!

 

Looking a bit more closely at this deal (but not too close), we see the deal requires $2,248.59 down. OK, not a deal breaker, this person has $3000 lined up. But the other disclosed detail is the lease limits you to 12,000 miles each year; more than that, and you are charged $.15 per mile.

 

So you sign the deal (there might be more details that cost you more that I do not include here, but the story is bad enough without them), drive the car for three years. First year you are careful and keep it under 12K in miles driven, but in years two and three you have vacations to take, also taveling to your friends’ weddings too. You drive 15,000 miles in year two and three. 15K is not horrendous travel, it’s what the average American drives in a year.

 

At the end of the lease term, you pull into the dealership to turn in the leased car and begin a new lease. And are they glad to see you. They inspect the car inside and out (hope you don’t get charged for any dings or “excessive wear”, and before you get into the new lease, you have to settle up. You owe an extra $900 for going over your mileage limit. You pay that and any other fees due, and line up to repeat your leasing experience. In a ten year period, you repeat this lease three times, and are starting your fourth. Wait for the math, buddy…….

 

Now, let’s look at a different way to drive a car. At a dealership near our city currently sits a 2010 Nissan Altima Certified Used Car with 26,000 miles. Price? $14,800.00 Being Certified Used, it comes with a 7 year, 100K miles powertrain warranty. Let’s add a bumper to bumber 7 yr/100K miles warranty for $2400 to this car too. You put $3000 down, and get a 5 year loan for around 4.75%. Monthly payment is about $254.52 This car is yours, and like your investments, you are a buy and hold kind of person. You keep this car for 10 years, pay the loan on time (not early, like you should) and drive the average of 15K a year.

 

At the end of ten years, the two scenarios look like this:

 

Lease your cars and pay AT MINIMUM $36,445.77

 

Buy and hold a recent vintage used car for 10 years and pay: $18,271.20

 

That is more than $18,000 difference. For the first five years of your certified used driving, you also have bumper to bumper warranty, so you only have 5 years of car repairs to pay. This difference would let you pay $3000 EVERY YEAR in repair costs on your older Altima and still be Thousands of dollars ahead!!!!!!!!!!!!!

A friend told me when relating this horrible math that car leases for business owners are good ideas, as all the lease costs are tax deductible. Not being a tax expert or enrolled agent, I cannot respond with what is deductible or depreciated on the purchase side. What I can say is when comparing a business owner who makes lease payments on his nice car with another business owner who makes equal (and equally tax deductible) investments directly into his business, whose business is more likely to be successful?

 

Other websites can go into the nuts and bolts, details of leasing. I don’t enter those “rooms” to learn more, I know enough to stay away with a little peek in the doorway. Please do the same!

On Your Side, Cash Can Be Powerful

They Are Called CASH Flow Plans For A

Reason!

 Well, we call them that for two reasons.  First, the word “budget” gives people a bad (inapproriate) feeling.  The second reason we use the term “cash flow plan” is because CASH has powers that no other payment system on earth can match! 

Hard to believe?  Read on my friend…..

Being an analytical fellow, I like to look at numbers and get meaning out of them.  I have to thank MIT for showing the entire world the power of cash versus credit cards.  They were trying to see what graduate students would be willing to hand over for certain items of value.  Celtics tickets, Red Sox tickets and Red Sox & Celtics Banners were offered to students.  The graduate student got a piece of paper where he/she would write down what they would “bid” on the items, and leave the room.  What the graduate students did not know was that some of them got bid sheets where they could only bid with cash, others got sheets that allowed them to use a credit card.  Both groups would have to pay by 5pm the following day, the items could not be bidded over their face value and both groups were allowed to buy by check instead.  We are not talking about high values, about $29 was the highest cash bid.

 Here’s the link to a PDF copy of the study, which MIT aptly named “Always Leave Home Without It….”

But wow, the results were telling:  Celtics tickets:  card users bid 113% higher than the cash user, Red Sox tickets, 76% higher, banners, 59% higher.  The card users were willing to part with significantly more money because of the insulating effect of credit cards.

When you part with cash, you actually feel a bit of psychlogical pain!  You know right away that actual money is leaving your posession, never to be seen again, and it is not a nice feeling. But with credit card purchases, you don’t see money leaving your hands (but it is, and how!), and you don’t feel any pain with the purchase.  You can actually enjoy spending some one elses money as you shop, because there is no pinch in your head.  But I bet there might be a bigger pain in your head when the credit card bill arrives.

That’s another good thing about cash.  We teach our clients to use cash for some items in their budget.  If you budget $500 a month for grocery shopping and get paid twice a month, each payday you take out $250 to fund a Food envelope.  You spend out of this envelope for every grocery purchase you make.  If the envelope is empty, you get food out of the cupboard, pantry or freezer.  If there is money left at the end of the month, Hooray!

Now the same shopping trips done by a family who loves the “rewards” they get on their credit cards have a credit line of $8000 or much higher.  Their “envelope” won’t tell them to slow down or stop buying for a long, long time.  Do they really need all the extra food they bought?

The last thing about cash I’ll leave you with today is about the power of cash to give you nice bargains.  Remember that psychological pain that you get when you part with cash?  Well the reverse is true for the people receiving cash.  They actually speed up their heart rate and start to salivate when cash they might get is in the picture.  How can you use that to your advantage?  In bargaining.  Take a furniture store where you want to buy a living room set.  You’ve comparison shopped (I hope you also check online, you might be surprised), and you know what you want.  Their price $1800.00.  You’ve saved up, so the money is in your savings account. But you go to your bank and withdraw $1600.00 in $100 bills.  Show up to the furniture store with that nice juicy cash in your hand and you may be walking out with the furniture and an additional $200 savings. (That’s more than 10% more off!).

There are many other examples of how cash can save your budget, curtail out of control savings and land you big bargains. Take this to heart:  harness the power of cash and you’ll have a powerful tool with which to build your financial future.

US Personal Debt

US Personal Debt By The Numbers

     Just in time for the Christmas shopping season, I wanted to throw out some dry numbers at you, numbers that show the need for this and other blogs on saving money, building a budget, getting out of debt and spending less that you make.

In September of this year, the Board of Governors of the Federal Reserve released some statistics on the level and types of debt in the United States.  Here are a few of those numbers:

Consumer Debt Figures from the Board of Governors of the Federal Reserve System

Consumer credit G-19 Released September 2013, updated November 7^th

Select figures:

Total US Consumer outstanding (does not include real estate, but does include credit not in use (IE:  $10K credit limit counts, not $3K balance on that account):  Over $3 TRILLION DOLLARS!

This level of personal debt and credit rivals the entire budgets of some countries!

Outstanding debt Revolving(These are the balances):  Almost $847 BILLION DOLLARS!

Too many Americans are singing “I owe, I owe, It’s off to work I go!”

Outstanding non-revolving (car loans, student loans, boats, trailers, vacations) $2.2 TRILLION DOLLARS!!!!

And just look at the average interest rates people are paying on this debt below:

Average credit card interest rate 13.11%

Average 48 month new car loan rate 4.46%

Average 24 month personal loan rate:  10.13%

Please do not get caught in the trap of looking at these average rate and saying you win because your rate is below average.

With a Cash Flow Plan in place, an Emergency Fund in place (so that credit card debt does not dig your hole deeper when a car repair rears its ugly head) and a vibrant, all hands on deck Debt Snowball Plan chugging along, you can remove yourself and your family from this ugly part of American life.

A nice short one today, everyone have a great week, see you soon!

Snowballs and Snowflakes

Snowflakes and Snowballs, Killing Your Debt Forever!

I know this might sound harsh, but debt is dumb, and that is putting it mildly.  When you are planning where every dollar coming into your hands goes each month, the stupidity of payments to others so you could “have it now” or get the “nicer xxx” begins to show pretty quickly.  You’ll see the opportunity cost of that loan or credit card payment that could of gone to your vacation fund, your house repair budget, or maybe even toward your retirement!  Instead, you have to send those funds to lenders.  Dave Ramsey likes to quote a Bible passage that I will paraphrase:  “The borrower is the slave to the lender.”

When you have your first monthly planning meeting after your last debt is done and gone, you might actually feel the chains of debt falling off your back.  The room, and your money future, will appear in a much brighter light.

But how do we get to this point in our financial lives?  First and foremost, the single most important point is for you to STOP BORROWING.  Do not take on ANY future debt (with the exception of a home mortgage).  Starting NOW, save up toward spending goals and ONLY pay YOUR MONEY for the things you need and want.  Never again use money that belongs to banks, finance companies or credit card companies.  This is HARD TO DO, but you need to WAIT TO BUY things until you have the money saved up to pay for the stuff.

Wow, all this information and we have not gotten to snowballs and snowflakes.  Never fear, now that we have built the base of this snow castle by “debt is bad” and “stop digging your hole deeper by borrowing more” we can talk about snowballs and snowflakes.

It’s mid November as I write this, and winter is on the way.  For some of us in the northern part of the world, this time of year can bring the white stuff; snowflakes and snowballs.  But for those of us in debt, with a cashflow plan helping us get out of debt, the terms snowball and snowflake are year round terms.

A debt snowball is a plan and a process to get out of debt quickly, with a lot of smaller wins along the road to becoming debt free.  To put a debt snowball plan together, you put all your debts (except your home mortgage) on a sheet.  List them from lowest balance at the top of the sheet to the highest balance at the bottom.  Also list each account’s minimum payment.  Then, head over to your cash flow plan. Plan in your cash flow plan to pay everyone but the Number 1 debt their minimum payment.  Then, with an intensity of getting out of debt, trim your plan to free up money to begin your debt snowball. Let’s say you are able to clear $100 a month for this job.  Add that $100 to the minimum payment of your smallest debt.  Being the smallest debt, it dies a quick death after a few months.  Without squeezing more money out of your plan, you take the minimum payment from debt #1 and the extra $100, and apply both to the minimum payment on what was debt #2.  And CELEBRATE the kill of debt #1!  It is these small wins that will keep you emotionally “in the game” to keep this plan moving ahead.

A debt snowball plan is not the best way to pay off debt mathematically. Paying off debts by using the interest rate will have you paying a little less interest overall.  But keeping up with your get out of debt plan month in, month out for as long as it takes, the debt snowball process gives faster ‘wins” that provide motivation to keep chugging along that the mathematically correct way does not.

Debt Snowflakes are small (or big) amounts that you throw at your target debt that do not come from your regular income.  You sell some of the stuff that you don’t need, you get an unexpected bonus at work, you used your fun money to buy a lottery ticket and actually won, these are examples of snowflakes that you can pile onto your debt to become debt free that much faster.

When ATTACKING your debt, we mean you should treat your debts as your worst enemy and attack them with everything you can and at every opportunity.  Reduce your food bill, apply the savings to your snowball.  Sell stuff on Ebay, Craiglist or elsewhere online and apply the profits to your debt.  Have a yard sale.  Anything (legal) you can think of, attack and kill your debts with vision and guts!

Snowballs and snowflakes.  You might not like the white stuff that comes out of the sky, but applying debt snowflakes and debt snowballs in your all out war on debt gives you some strong ammunition.  Load your debt killing cash flow plan with these tools and FIRE, FIRE, FIRE!

Up Next:  disturbing facts about debts