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Save Your Retirement…With a Plan for Your Kids?

Save Your Retirement…With a Plan for Your Kids?

By on Sep 29, 2018 in Uncategorized | 0 comments

Planning for your kids and your retirement don’t really seem to go together. But that planning includes getting them to leave the nest in a timely fashion — you know, that warm and fuzzy place they’ve lived in all their lives? We love and want the best for our kids, but it shouldn’t be at risk to our financial well being. Helping a child to buy a house or leave college without expense is admirable, but it could put you at more of a financial risk than you think — it may cause you to run out of money too early. A plan for your kids means teaching them sound financial practices. Learning to ignore wants and instead focus on needs. Good spending habits coupled with savings and investment goals. That plan will help them build a strong foundation. In addition, it’s important to make sure they have ‘skin in the game.’ Make them earn their spending money when they are young, and make them share college expenses when they are older. For more tips on creating a plan for your kids, so it doesn’t waylay your retirement can be found in the article A Plan for Your Children Could Save Your Retirement on wsj.com. Credit to: wsj.com A Plan for Your Children Could Save Your Retirement By Sue Shellenbarger, July 17,...

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A Trio of Retirement Spending Strategies

A Trio of Retirement Spending Strategies

By on Aug 27, 2018 in Uncategorized | 0 comments

If you are worried about retirement, you are not in the minority. It’s right there in Gallup’s 2018 annual survey about Americans’ biggest financial worries. For 16 years and running, retirement is at the top of the list. It’s important that your spending plan be based on your unique needs and objectives, but here are three of the most common strategies: Level Spending – assume a level spending amount throughout your retirement, whether it’s based on current spending or a percentage of pre-retirement income. Increased Spending – assume your spending needs will increase gradually from year to year throughout your retirement. Dynamic Spending – vary your spending from month to month or year to year. Whatever strategy you are going to use, the key is planning in advance. To learn more about the pros and cons of each strategy, read the full article on kiplinger.com. Credit to: kiplinger.com 3 Spending Strategies for Your Retirement By Janet Pack, Investment Advisor Representative, Senior Retirement Advisors, July 17,...

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5 summertime tax tips

5 summertime tax tips

By on Jul 30, 2018 in Uncategorized | 0 comments

Not thinking about taxes in the summer? Well reducing your tax bill is a year-round task. Here are five summertime tax tips: Moving expenses may be tax deductible. Check your withholding taxes. Business trips and vacations – if you combined them, part of the expenses may be deductible. Education expenses may be offset by several tax credits and deductions. IRS extensions and notices only last 6 months, don’t miss the deadline if you haven’t filed. To learn more about these tips, read 5 Summertime Tax Tips.   Credit to irs.com 5 Summertime Tax Tips Lower Your Tax Bill &...

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10 summer savings tips

10 summer savings tips

By on Jul 23, 2018 in Uncategorized | 0 comments

Do you have big plans for the summer, but a small budget? Here are 10 tips to put things in reach for you: Visit a thrift store – spring cleaning yields plenty of deals when thrift stores have an influx of great stuff. Work out on the cheap – many gyms offer special deals in the summer. Update your home goods – big ticket items like appliances are often discounted at this time of year, when the focus shifts to outdoors. Plan travel with online tools – these make comparison shopping easy. Buy produce in bulk – consider signing up for a CSA or community-supported agriculture program. Grow your own food – from seeds or seedlings, its wholly rewarding and healthy. Stick with generics Host a summer bash – with DIY decorations and potluck. Cut your gas costs – carpool or use public transportation when possible. Clean out your home – a garage sale can yield quick cash or you can sell more valuable items online. Learn more about each of these tips by reading the full article 10 Summer Savings Tips.   Credit to money.usnews.com 10 Summer Savings Tips By Kimberly Palmer, Staff Writer, May 20,...

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Summer nanny job? Here are some tax tips.

Summer nanny job? Here are some tax tips.

By on Jul 16, 2018 in Uncategorized | 0 comments

If you or someone in your family has taken a job as a summer nanny, be sure to share these three important tax tips: Your employer needs to set up payroll and start paying taxes (if you earn more than $1,900) – this benefits both you and your employer . Keep track of your hours – know when you’re considered on duty and when you’re not. Stay in Touch – so your employer knows where to send your W-2. Bonus tip: Create a nanny contract. To learn more about these tips, read the full article 3 Summer Tax Tips for Nannies.   Credit to care.com 3 Summer Tax Tips for Nannies How does being a summer nanny affect your tax responsibilities? By Julia Quinn-Szcesuil, Contributor...

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5 summer financial tips

5 summer financial tips

By on Jul 9, 2018 in Uncategorized | 0 comments

Summer is an easy time to lay back, relax and enjoy the good weather and maybe a nice vacation. And that makes it easy to forget about finances — don’t fall into that trap. Here are five things to think about this summer: Check your tax withholding. Check your retirement savings. Start saving for the holidays (if you’re not already). Take advantage of tax-free holidays. Live lean to pay off vacation debts. To learn more about these tips, read the full article 5 Smart Financial Steps to Take During Summer.   Credit to moneyusnews.com 5 Smart Financial Steps to Take During Summer By Trent Hamm, Contributor, July 2,...

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