Mid-Year is an important time to review several significant saving and spending decisions, possibly affecting taxes too. With just under 6 months remaining in the tax year – there’s still time to make a meaningful difference. Consider:
- Confirming amounts being deferred pre- or post-tax into 401k and other retirement accounts (and whether to max out?)
- Evaluating savings goals versus reality
- If not begun yet, giving savings goals a jump start
- Quantifying college savings account contributions
- Creating and funding Trusts
These and other important decisions can be evaluated or adjusted – think of the process as forming goals or “mini-goals”.
