Personal Finance
Personal Financial Planning
Personal financial planning is a bit like putting together a puzzle. Your decisions with investments can impact your taxes. Your decisions with college planning can impact your retirement. Your decisions with insurance can impact your net worth. These topics by themselves can be complex enough, but when combined, they can be consuming. That’s why it’s important to educate yourself with timeless strategies combined with new trends in financial planning.
Tax Planning
Tax planning is the process of arranging your financial affairs in a way that minimizes your tax liability and maximizes your after-tax income and assets over time. Tax planning can help you achieve your personal and business goals by reducing the amount of taxes you pay and increasing the amount of money you keep. Tax planning isn’t about evading taxes. It’s about using the tax laws and regulations to your advantage. While many people think of tax planning as an annual event focused on their tax return, it’s also about multi-year planning to minimize taxes over your lifetime.
Retirement
Retirement is a relatively recent phenomenon in the US. For most of its history, the US had no formal system of retirement or social security for the elderly. People worked until they were physically unable or died, often relying on their families or charities for support. However, in the 20th century, several factors changed the landscape of retirement, such as industrialization, urbanization, immigration, labor movements, and the Great Depression. In this article, we will explore how retirement evolved from a rare and privileged status to a common and expected phase of life for millions of Americans.
Find a Pro
Many people wonder if they can adequately handle their financial and legal matters on their own, without the help of a professional. They may rely on online tools, DIY books, or advice from friends and family. However, this can be risky and costly. There are many benefits of working with a professional advisor, such as a Certified Public Accountant (CPA), a CERTIFIED FINANCIAL PLANNERTM (CFP®), an independent insurance agent, or an attorney. Here are some of the reasons why you should consider a professional advisor in your life.