Do some financial strategies just seem like a complete mystery to you? Do you feel like if someone just explained it in layman’s terms you would be able to understand the foreign language of finances better? Well, good news, I am going to crack one of the financial mysteries to help you when it comes to investing for your future financial goals. This is the rule of 72.*
Regardless of the economic situation we all need to file our tax returns and report our earnings to the Governmental agencies annually. The rules are the same regardless of your gender. It is important to be involved and understand the tax return that is being signed by both spouses because both parties are equally responsible for truthfulness, completeness and accuracy of the tax returns. There are number of tax saving techniques that can be utilized if planned timely and correctly. It is important to have a professional, reliable, trustworthy, and caring CPA who will help you to be on the right track. Of course, together with a great team of Financial Planner, Attorney, Investment Advisor and CPA you can be in much better position.
We do not expect everyone to become experts and understand all the complex financial transactions, but just to be involved and ask questions if something is not clear on the tax returns, financial reports and documents.
Staying Sane in the Midst of the Craziness Recently I was at a women’s breakfast event and I overheard a few women say how glad they were to have switched their 401k investments to cash because they couldn’t bear to lose any more money due to the recent market volatility. These women were still in [...]
How Healthy Are Your Finances Series- Part 7 Ever hear of the Rule of 72? It is a great financial rule of thumb that calculates how many years it takes to double your money using compounding return rates. When you are saving for your different financial goals, understanding compounding interest and the rule of 72 [...]
For many Americans, financial life seems to be getting more and more complicated. Perhaps that’s because more workers bear responsibility for their own retirement savings thanks to the proliferation of 401(k) and other plans. Or maybe it’s because there’s so much information and so many investment choices to sort through. Whatever the case, here are [...]
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