• The Power of Delaying Retirement: Why Working 1 More Year Can Make a Big Difference

    The Power of Delaying Retirement: Why Working 1 More Year Can Make a Big Difference

    Are you on the cusp of retirement but feeling uncertain about whether you’re financially ready to take that leap? Perhaps you’re contemplating whether delaying retirement by just one more year could make a significant impact on your financial future. If so, you’re not alone. Many individuals find themselves in this situation, weighing the pros and…

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  • Should You Keep Your Mortgage for Tax Benefits?

    Should You Keep Your Mortgage for Tax Benefits?

    Have you ever wondered whether keeping a mortgage just for the tax benefits is a smart financial move? It’s a question that often floats around in personal finance discussions, but the answer might surprise you. Short answer: No, you shouldn’t cling to a mortgage solely for the tax savings it might offer. Why? Well, let’s…

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  • Simplifying Tax Payments: A Step-by-Step Guide

    Simplifying Tax Payments: A Step-by-Step Guide

    Navigating the complex world of taxes can be challenging for many individuals and businesses. With numerous forms, deadlines, and ever-changing regulations, making tax payments to the state or federal government used to be a perplexing task.   Taxpayers had to fill out lengthy paper forms and then write out checks, which could be prone to errors…

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  • Social Security Increase for 2024: A Unique Adjustment in Uncertain Times

    Social Security Increase for 2024: A Unique Adjustment in Uncertain Times

    The annual Social Security cost-of-living adjustment (COLA) has always been a hot topic among retirees and those planning for retirement. In a world where inflation seems to be constantly on the rise, Social Security is unique for its regular annual adjustments to help beneficiaries keep pace with the ever-increasing cost of living. For 2024, the…

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  • Stop Playing the Money Comparison Game

    Stop Playing the Money Comparison Game

    In today’s age of social media and constant connectivity, it’s all too easy to fall into the trap of comparing ourselves to others, especially when it comes to our finances. We’ve heard the old saying about keeping up with the Joneses, but what’s often overlooked is how unique each person’s financial situation truly is. Comparing…

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  • 2024 Tax Brackets: What You Need to Know

    2024 Tax Brackets: What You Need to Know

    In the United States, we have a tax system that is often described as complex and intricate, and rightly so. However, understanding the tax rates and tax brackets is crucial for effective financial planning. Our tax system operates on a progressive tax system, meaning tax rates increase as your income rises. This system is designed…

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  • Retirement Contribution Limits for 2023

    Retirement Contribution Limits for 2023

    2023 retirement plan contribution limits were just announced and it’s a big change. Should it change your financial plan? Every single year, the IRS announces what your contribution limits are for the 401(k), 403(b), IRA, Roth IRA, and other retirement accounts for the next year. Oftentimes it doesn’t increase that much, but with white-hot inflation…

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  • Social Security Increase for 2023 Confirmed

    Social Security Increase for 2023 Confirmed

    The Social Security Cost-of-Living Adjustment was officially announced for 2023 and came in line with my expectation. If you’re on Social Security, you’re getting a big raise. We’ve been saying it for a while, and I actually did a video a couple of months ago saying, “Hey, looks like if you’re on Social Security, you’re…

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