How Financial Planning Can Help You

Author Bill Bischoff of marketwatch.com writes “taxes are or will become one of your biggest expenses - maybe the biggest,” in his recent article titled “How financial planning can help you. Exhibit A: Selling your home before getting married — and facing this avoidable tax mistake.” Tax planning and financial planning are closely linked, as taxes become a large expense as you go through life. He includes fictional examples of people planning to move and get married and the large burden taxes can weigh on a person if they do not plan long-term for federal-income tax purposes. The author also includes examples of how properly planning can lead to gains within your 401(k) with his simple tips. He states that by employing effective tax-planning strategies, you can increase your long-term cash flow, have more disposable income at your hand, and have a greater ability to save and invest. Ultimately, financial planning is a crucial component of life and learning to do it sooner than later is critical for reduced stress and lifelong success. For more information on how tax planning is important and worth the effort, please read: How financial planning can help you. Exhibit A: Selling your home before getting married — and facing this avoidable tax mistake

Written By: Your Financially Fit Me Team