When moving money be cautious as mistakes can be costly in terms of taxes and penalties. Being organized in your financial planning today is likely the best scenario for your future, and I would encourage you to consult a professional.
A comprehensive Financial Plan can address any concerns and answer your questions about your financial future - and ultimately set your mind at ease.
If your long-term strategy is to reduce debt, I would encourage you to make sure savings are on track (emergency fund, retirement, college, etc.) and other debts have been paid off (credit cards, student loans, automobiles, etc.) before considering reducing your mortgage debt.
You may not need to pay for financial advice if you can commit the time and resources to fully understanding your Personal Finance picture for the long-term, have access to and knowledge of inexpensive investment options, have a passion for Personal Finance and feel confident in balancing the return and risk in your portfolio without emotion.
Step one is to take action. My hope is that you move your personal finances up the To Do list. Act with a sense of urgency – at least to know where things stand today. Let me encourage you to save NOW for retirement. You need to know your savings rate and have a plan. All the Personal Services we offer are geared toward this.
Did you know you can save up to $66,000 before taxes in a 401K this year? While today’s writing focuses on the Solo 401K as an effective Asset Management tool for Real Estate agents, if you are or might become self-employed this post is for you!
