No one approaches financial planning with the goal of paying more taxes. Tax management, like all financial planning, is based on the premise that small changes made over time can achieve big goals.
Even if you didn’t make a penny more next year, how can you have more dollars for next year’s holiday
season? Reduce your taxes. Between now and the end of the year there are several last-minute tax moves that may save you significant amounts of money. After January 1st, there’s little to do but pay-up.
Four-years of college currently cost $60,000 at a public university. In eighteen years, it may cost more than $145,000. To stay ahead of rising tuition costs, you should plan ahead and save early. Tax-favored 529 accounts can help you provide an excellent college education for your children and grandchildren.
There are few better investment returns than an employer’s matching contribution made to your 401(k). But after you retire or leave that company’s employment, you should almost always roll your 401(k) into an IRA for better investment choices. Being smart by rolling over your 401(k) can pay dividends for decades.