Have you started planning for retirement? Many Americans don’t prioritize this crucial aspect of personal finance enough as they plan out monthly budgets, long-term goals, and decide on their spending habits. If you’re looking to boost your retirement savings so you’re not left penniless at the end of your career, it’s a good idea to start putting away money now! If you’re looking for retirement planning tips, as well as important retirement news and retirement resources to help you plan better, Community Tax’s helpful blog often posts about these and other vital personal finance topics.
Those looking to give their retirement savings a jumpstart often look for sources of funds. Having a large principal investment in your retirement account is a great way to get the power of interest working in your favor quickly. That’s why many advisors suggest investing at least a portion of your yearly tax return refund in an IRA or investment account that you plan to put toward your retirement. If you start doing this yearly, you’ll jumpstart your retirement planning and make a comfortable and financially secure retirement much more possible!
How can you save enough on taxes to put it toward retirement? One of two ways. First, you could make sure that you’re not having your employer take out more in taxes than they need to each month. By getting that extra bit of cash in your pocket, you can put it toward retirement planning. Even a few dollars a month adds up over time. Second, if you did overpay on your taxes throughout the year, a Community Tax professional can help you get back what you deserve on your return. Reach out and find out how much you might be able to save today, and get your retirement savings growing!