Since credit cards often carry the highest interest rates of all debt, Rob Burnette, CEO and fiduciary financial advisor at Outlook Financial Center, recommends paying these off first.
“If you have trouble saving, start small,” said Lori Gross, financial and investment advisor at Outlook Financial Center in Troy, Ohio. “Have deposits go automatically into the savings, removing the need for you to physically make the deposits, or move funds.”
A self-directed IRA is a type of traditional or Roth IRA, meaning it allows you to save for retirement on a tax-advantaged basis and has a contribution limit in 2023 of $6,500, or $7,500 for people age 50 and older, says Lori Gross, financial and investment advisor at Outlook Financial Center.
“If you are in the 22% marginal tax bracket, you are paying taxes on their capital gains and dividends,” Rob Burnette, financial and investment advisor at Outlook Financial Center LLC, says.
“Some of these models are targeted at specific industries and applications like mortgages, auto loans, and bank cards,” says Rob Burnette, an investment advisor at Outlook Financial Center in Troy, Ohio.
“Also, make sure you sign your return before sending,” said financial advisor and professional tax preparer Rob Burnette of Outlook Financial Center. An unsigned tax return isn't valid, the IRS says.
