Even if retirement is years away, what better gift could you give yourself this holiday season than income-tax savings and a potentially more secure future? All it takes is a bit of year-end planning.
- Max out Contributions
- Investigate the saver’s credit
- Now versus later
See this month’s issue of Let’s Talk Money, these tips may give you a better retirement outlook.
• Check it Twice
Your gift list? No. Your stress level. Stress can ruin the holidays in many different ways. It can also ruin your health. Stress has been credited with causing chest pain, sleep and digestive problems, weight gain or loss and anxiety, among other things.
• Postponed but Not Forgotten
Do you make pretax contributions to a 401(k) retirement plan? Or tax-deductible contributions to a traditional individual retirement account (IRA)? It’s great that you can postpone paying taxes on that money and on any investment earnings your accounts generate. But these tax breaks only last so long. Eventually, the IRS will want its share.
• Q&A Let’s Talk Retirement
All this and more in this issue of Let’s Talk Money…