Tax and Financial PlanningStart planning and stop worrying!

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A Gallup poll showed that 60% of those surveyed worried about their financial future.

There are a few simple steps you can take to help reduce your worries:

  • Put aside a set amount regularly in savings. The earnings can be substantial. The longer your savings period, the greater the beneficial effect.
  • Educate yourself. The better informed you are, the better your financial decisions will be. If you don’t want to have to know it all, consider hiring a money manager and paying him or her to do your planning for you.
  • Diversify. Have some of your money that can easily be converted to cash in case of emergencies. The old adage “don’t put all your eggs in one basket” is excellent advice.
  • Prepare an annual balance sheet (a list of all your assets minus all your debts) to determine your net worth. A comparison of your annual balance sheets will show you whether you’re meeting your financial goals.
  • Plan where you want to be financially by retirement age. Over 90% of Americans must rely on the government or others for assistance during retirement. With proper planning and diligence, you can be among those who can retire in comfort.
  • Update your plan regularly. Review your financial situation often and adjust choices when necessary to keep your plan on track with your financial goals.
  • Don’t use credit to purchase consumption items. Wait until you can pay cash for things which decrease in value. Borrowing money to purchase a home is usually a sound idea. Using credit to purchase household furnishings is not.
  • Pay off your credit card balance every month. Your credit card should be used for convenience, not as a source of long-term financing. Credit card interest rates are much too high.
  • Monitor your savings to maximize your after-tax return. The difference that a 2% greater return can make in the growth of your money is dramatic.
  • Have your insurance agent do at least an annual review of your insurance needs to determine that you are neither under- nor over-insured. Be sure to contact your agent when you buy or sell any property.

For more information on how we can help you with finances, please visit my financial services website: or contact us directly….. (661) 254-2981