Category Archives: Money
Now that the “most wonderful time of the year” is behind us, it’s time for the most dreaded time of the year: tax season. But if you take advantage of these tax breaks you can make this time of a year a lot more jolly.
We can all agree that no one likes paying taxes. As a financial professional I spend time talking about taxes with a lot of people and nearly everyone agrees that they don’t like paying taxes. I did run into one person that said she did not mind paying taxes and, frankly, I had no comment for that. I don’t know where to go when someone says they don’t mind taxes.
For most of us though, taxes are not something we enjoy. But they are necessary. Since we have to pay taxes we should at least know about the different tax breaks we can take advantage of to help reduce our tax burden. Let me share 5 valuable tax breaks with you.
What if I told you there is one very simple, yet powerful tool you can begin using today to make a significant impact in your family’s financial future? Would you be interested in learning more?
The reality is that a majority of Americans are in financial trouble. Everything from student loans to credit card debt is keeping Americans from reaching their financial goals. And, for some, it is keeping them from even saving money on a regular basis. A recent survey found that 33% of Americans have no savings at all, making them prey for financial shock.
It’s not surprising to me that at the top of the list of ways to ruin your retirement is to have too much debt. And, unfortunately, I see this a lot. Debt is a burden that will suck the life out of retirement. It will prohibit you from doing the things you really want and keep you awake at night. And, debt will keep you working far longer than you would like.
Other retirement killers include…
Saving for retirement is not a static event. You can’t merely put a dollar amount into a 401k at age 25 and continue for the next 35 years. Retirement saving is an ever-changing event that will depend on your idea of retirement. For those that want a more quiet retirement at home, less might be needed. And for those that want to travel and buy new things regularly, more might be needed.