November 15, 2019
If you have retirement on your mind, the big question is this: Are you in a financial position to do so? While nothing replaces the advice of a seasoned advisor, you can take your first step to answering this question by applying a simple 5-step calculation.
In just five minutes, you can get to a simple Yes or No on whether you will have enough income and savings to cover your retirement expenses. Answer each question below in sequence:
When you’ve completed your calculation, compare the answer to your current annual expenses to see if the amount you projected is enough to cover your normal living expenses.
While offering a highly simplified model, this exercise will get you thinking about what you need to do in order to retire.
Be aware that this model does not take into account such things as growth rate of investments or inflation. So, if you have questions about retirement, please feel free to reach out to our firm for guidance.
What do accountants do with themselves after tax season? Actually, the same thing they do during busy season: They work hard for their clients. The only difference is that instead of cranking out tax returns, they help clients work through other aspects of their financial health—including issues revealed during the yearly tax return process.
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit.
Spend it? Save it? Invest it? Share it? Here are a few ideas for putting your tax refund to work for you: