Financial Planning for Pastors Holly: Hello, today we’re talking about financial planning for pastors. Daniel, you’ve worked with several pastors before. Can you explain how you came into this niche? Daniel: Yes I have several pastor clients, and I think it’s for several reasons, including the fact that I was a youth pastor for 6 […]
Daniel Colston, CFP®
When Daniel is not giving financial advice or managing investments, he enjoys renovating properties, real estate investing, drinking coffee, hanging out with friends, spending weekend trips in his camper van, and exploring the outdoors on a hiking or biking trail in his hometown of Roanoke, VA and beyond.
Real Estate Investing 101
Holly: Today we’re talking about real estate investing. Daniel, why are you so passionate about real estate investing? Daniel: Everyone loves the DIY real estate shows, right, but real estate can also be a very lucrative piece of your finances. Being a landlord and owning real estate allowed me the opportunity to quit my job […]
Tax Planner vs. Tax Preparer
Holly: Today we’re talking about tax planning. Daniel what is the difference between a tax-preparer and a tax-planner? Daniel: Well sometimes a tax preparer is also a good tax planner, but most often, the person preparing your taxes is simply inputting the data from what happened with your taxes last year, whereas a good tax […]
Using Real Estate Investing to Reduce Your Tax Bill as a High Earning W2 Individual
Introduction High earning W2 individuals are often left disappointed when looking for ways to reduce their tax bill. Once all the traditional levers are pulled such as IRAs, 401ks, HSAs, and other “low hanging fruit”, they’re left with a significant tax bill. What these high performing individuals often overlook, however, is real estate investing! Real […]
How to Spend your IRA in a down market/Roth Conversions
Surviving In Retirement Today Holly: Welcome to Money tips with Daniel. It’s been an interesting year with the stock market down around 17% and inflation running out of control. Daniel, what advice do you have for those retirees who are no longer working and saving and need to use their investments for daily expenses? Daniel: […]
Utilizing the Roth IRA’s Many Benefits
Holly: Welcome back to Money tips with Daniel. Today we’re talking about the Roth IRA. Daniel, you’ve often talked about how great the Roth Ira is. What exactly is a Roth Ira. Daniel: So an IRA is a individual retirement account. It’s an account that you set up individually as opposed to your employer setting […]
Got Let Go From a Tech Job? Smart Money and Lifestyle Moves to Make ASAP!
If You Got let go from the tech sector In 2022-3: What To Do With Your Stock Options, Old 401k, and Job Search Unfortunately, if you’re working in the tech sector in 2022-23, you have a significant risk of being laid off. With 10s of thousands already laid off and many more expected to be, […]
Year End Tax Savings for Business Owners–Accelerate Expenses
In the last few weeks and months of the year it can be a very advantageous time to make moves that will lessen your tax liability for the year. Did you know that if you are not actively paying quarterly estimated payments throughout the current year for this year’s taxes, then at tax time you […]
401(k) or IRA? Or both?
Money Tips with Daniel There are so many options when it comes to choosing a retirement plan. If you own a small business, you can choose a SIMPLE IRA, SEP IRA, or Solo-401(k). If you are an employee, than you can contribute to your 401(k) or 403(b). If you have any earned income whatsoever, you […]
How To Invest in Cryptocurrency Without Losing Your Shirt
Investing in cryptocurrency is a popular topic right now. The market is full of excitement and extremely volatile. It’s hard to not want to get in on the action. However, while many people have made significant profits from investing in cryptocurrency, others have lost everything they put into it. If you’re considering investing in cryptocurrency […]