Tracking Our Economic Recovery

Last week I wrote about my reactions to the President’s first press conference and particularly his comments about the stimulus plan.  You may recall that one of the reporters asked the President how we would know if and when the plan was working, i.e., what metrics should we be monitoring to make that determination?  The President kept repeating “create or save” 4 million jobs.

I’ve since learned that the White House has created a special website (Recovery.gov) that is specifically directed at promoting and tracking the progress of the stimulus plan.  Read more

The IRS No Longer Likes Our Vacation Home

The Capital Gains Exemption for Second Homes is Fading Away 

Mr. and Mrs. ToughMoneyLove bought themselves a 25^th anniversary present six years ago: a lake house about 90 minutes away.  We have enjoyed it immensely on weekends and holidays and for week-long gatherings of our extended family.  As a long term plan, we are contemplating using it as a part-time residence in retirement.  That is why we have identified maintaining it as one of our financial goals. Read more