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How To Begin to Build Wealth

By   /  Fri 28 Shaban 1440AH 3-5-2019AD  /  Building Wealth 101  /  No Comments

  BY MIRIAM CALDWELL Updated March 07, 2019 Often people will stress the importance of saving a certain percentage of your income each month. One common number is ten percent, another is twenty-five percent, but people seldom say what you should do with the savings once you put it aside. This is where the difference between building […]

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9 Steps to Financial Freedom

By   /  Sun 26 Safar 1440AH 4-11-2018AD  /  Building Wealth 101  /  No Comments

9 Steps to Financial Freedom 1. Shift to a net-worth mindset and start tracking your net-worth (the most important number in personal finance) While your income, your savings rate, your investment returns, your debt to income ratio, and all those other numbers are important when optimizing your money, the single most important metric that you […]

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Creating A Budget

By   /  Fri 25 Muharram 1440AH 5-10-2018AD  /  Building Wealth 101  /  No Comments

If you are like many Americans, you may find that you are spending more than you’re saving and steadily going deeper into debt as a result. This is an easy and common pattern to fall into, and you’ll need some careful planning and discipline to reverse it. The first step is to create a budget […]

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Evaluating Your Finances

By   /  Sat 12 Muharram 1440AH 22-9-2018AD  /  Building Wealth 101  /  No Comments

It’s a good idea to evaluate your finances periodically, especially if you’re planning a major purchase like a new car or home or if there are any significant changes in your income or expenses. Fortunately, most of the information you need is at your fingertips. When you assess your finances, follow these steps to ensure […]

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Budgeting Basics

By   /  Sat 12 Muharram 1440AH 22-9-2018AD  /  Building Wealth 101  /  No Comments

If you’re new to budgeting, it’s important to understand what a budget is and how it helps you examine what you earn and how you are spending that income. A budget is a financial plan that takes income and expenses into account and provides estimates for how much you make and spend over a given […]

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Morrissey vs Comissioner of Internal Revenue, 296 US 344 (1935)

By   /  Tue 25 Dhul Qidah 1439AH 7-8-2018AD  /  Building Wealth 101, Case Law  /  No Comments

“The fact that a business trust is not regarded as a legal entity distinct from its trustees, of a true trust….may result in this advantage to the trust, which a corporation does not possess: The trust consist of individuals…who are Citizens, and who, therefore, are entitled to certain rights and immunities such as those guaranteed […]

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Hecht vs Malley, 68 L ed 949

By   /  Tue 25 Dhul Qidah 1439AH 7-8-2018AD  /  Building Wealth 101, Case Law  /  No Comments

“These trust whether pure trusts or partnership are unincorporated. They are not organized under any statue; and they derive no power, benefit, or privilege from any statue.”

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Berry vs. McCourt, 204 NE 2d 235 (1965)

By   /  Fri 21 Dhul Qidah 1439AH 3-8-2018AD  /  Building Wealth 101, Case Law  /  No Comments

The court stated: “A Pure Contract Trust” is a contractual relationship in Trust form”.

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Burnett vs Smith, 240 SW 1004 (1922)

By   /  Fri 21 Dhul Qidah 1439AH 3-8-2018AD  /  Building Wealth 101, Case Law  /  No Comments

The court stated: ” A Pure Trust is established by contract, and any law or procedure in its operation, denying or obstructing contract rights, impairs contract obligation and is therefore violative of the United States Constitution”.

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Schumann-Heink vs. Folsum, 159 NE 250

By   /  Fri 21 Dhul Qidah 1439AH 3-8-2018AD  /  Building Wealth 101, Case Law  /  No Comments

The basis for “Common Law Trust” in this connection, is not that such organizations are creatures of common law, as distinguished from equity, but that they are created under the common law of contracts and do not depend on any statute.

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