Financial Planning

Prioritizing Debt Paydowns

If you are like most people starting your career, it’s likely that you’re carrying some debt. People often ask what debt they should prioritize paying down. A good place to start is by knowing which debt is the most expensive – i.e. which is charging you the highest interest rate!  Payday loans are some of…

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The Importance of a “Rainy Day Fund”

If there is one thing the COVID-19 pandemic showed, it’s the importance of having a “rainy day fund.” Life is unpredictable, and having some extra cash on hand to help tide you over is not only responsible, but can be a big stress reliever. While comfort levels will vary from person to person, financial advisors…

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Tips for Increasing Your Savings

Just as it’s important to know the revenues and expenses of your business, the same is true of your personal financial picture. You should know how much you’re earning each month, and what your expenses are. Prioritize your expenses into high, medium, and low buckets, and consider eliminating some of the least important expenses if…

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Overview of Retirement Vehicles

Freelancers can often make larger contributions to their retirement savings than employees can. The amounts you can contribute can change each year – for 2021 there is a $6,000 maximum for a traditional IRA ($7,000 if you’re over 50), and $19,500 for a 401(k) but limits are over $50,000 for SEP IRAs and Solo 401(k)s.…

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