The Coming Recession
There’s a recession coming. Here’s how to make sure your finances are prepared for it.
There’s a recession coming. Here’s how to make sure your finances are prepared for it.
It is never easy to see the market, and your portfolio, decline. We don’t want to sell and lock-in losses. Are there any ways that you can get some benefit to offset some of the decline in value? Here are a few ideas you can use.
The silver lining to this down market is that you can make use of it to save some money on tax. There are some other tax saving techniques you can use every year. We outline some of the top ideas in this episode. Whatever opportunities you might be able to take advantage of, you just need to act before the end of December.
All of the thresholds that determine how highly you are taxed – tax brackets, standard deductions, 401(k) contribution limits, and more – are indexed to inflation. And the IRS just announced what next year's limits will be.
Want to pay lower taxes in retirement? Stop saving! That's obviously a joke. The key is that most people save the wrong way and it costs them thousands. Here's how to do it right.
If you are still years from retirement, you may not be thinking about retirement taxes. But you might save a lot of money if you think about it now.