The “Your Money” show, which is approaching 15 years on the air throughout the Midwest, has expanded its coverage in the Minneapolis and St. Paul markets to include WLTE-FM. The show will air live from 8:30 a.m. until 9:30 a.m. every Sunday.

Efficient Debt Versus Inefficient Debt

Avoiding debt in today's society is almost impossible for most working Americans—particularly if you want to buy a home, a car, a business or any other big-ticket items. But some debt is better than others.

Perhaps the worst kind of debt is consumer debt—money you borrow to pay for consumer goods such as boats, television sets, video games and electronics, and even the family vacation. The problem with consumer debt is that the ultimate price of that purchase continues to rise because you have to pay interest on that debt. And as your cost rises, the value of your purchases continues to decline.

By contrast, if you use debt to buy a house, that house may continue to increase in value. Unfortunately, in recent years housing prices have declined sharply, which has been a disaster for many homeowners with steep mortgages. But in normal economic times, mortgage debt is considered one of the more favorable forms of debt.

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Our tax system is complicated. That might even be an understatement when it comes to understanding our tax code system and what may or may not relate to your particular situation.

The one part of our tax law that affects everyone are tax rates. There are two ways to look at tax rates: marginal and average. The marginal tax rate is the rate of tax applied to the last dollar added to your income. When most people are asked what tax bracket they are in—they might say the 15% bracket, or 25% bracket—they are referring to their marginal tax rate. This is important to know because for every additional dollar of income that falls in that bracket, the marginal tax rate applies to that income. At the same time, for every additional deduction against your income that falls in that bracket, the marginal tax rate applies to that deduction.

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Last month we started a discussion of our investment philosophy at Wealth Enhancement Group. Using the real-world example of the U.S. dollar's status as the world's primary reserve currency, we began to show how we use the tenets of diligence, planning and patience to guide our investment decisions. We will continue with the diligence process now to deepen our understanding of the issues, before we move to create concrete plans around our investment thesis.

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