For many Americans tax season is a stressful time of year. It’s during this time that we review our finances, consider our recent financial decisions and cross our fingers for that sweet word … “refund!”
As you sit down this year and finalize your 2012 tax returns, we encourage you to take this opportunity to look to the future. What better time than right now to consider your financial situation and plan for tomorrow? At IntelliQuote we like to remind consumers that tax season isn’t just a time to crunch numbers and itemize deductions; it’s an opportunity to get on the right financial path for the year to come. If you feel like there might be some room for improvement with your financial plan, we encourage you to consider the following:
Regardless of your age, or tax bracket, you should have a retirement plan in place. Whether you’re just now entering the workforce, or you’re well into your career, a retirement plan is essential to your long term financial success. Sit down with a financial advisor and review your current situation, including: income to debt ratio, monthly expenditures, and investments. Are you contributing enough to your retirement plan? Can you afford to contribute more? At your current pace, how long will it take for you to be ready for retirement? By taking the time to calculate and consider each, you’ll have a firm grasp on the health of your retirement strategy. If you find that your plan is coming up short, there’s no time like the present to get on the right track!