"An investment in knowledge always pays the best interest."
                                                   - Benjamin Franklin, 1706-1790

Tax Savings Savvy - Financial Confidence

Tax-Savings Savvy = Financial Confidence

Most hope that their annual earnings keep growing year after year.  Are you likewise growing your ability to save for your goals?  If you pair rising earnings with increasing savings-savvy, you’re setting yourself up for some high financial confidence and peace of mind which are priceless in themselves.

Tax time is the big reveal on who has been growing their skills to accumulate wealth with a tax sensitive strategy and who has not.  April 15th is when many will try to max out their IRA contribution limit for that just-in-time tax deduction.  That’s a first step strategy that many learn, like learning how to swim. However, many stop right there when they can be growing through stretch goals which take them beyond what they have already learned.    

I’m sharing the accompanying video of my daughters because, for me, it illustrates how when you take a skill attained and challenge yourself, it results in greater confidence.  One summer my family took a rail trip across the US and up into Canada.  We hiked up a mountain which had a beautiful natural pool into which the courageous would leap.  I asked the Park Ranger about the depth of the pool – it ranged from 20-30 feet deep. My daughters asked me if they could jump the 20+ foot leap into the pool.  I knew they could swim so told them they could but if they climb the rock, look down and change their mind – that’s okay too.  They decided to go for it as you can see in this video and a wonderful result happened: their self-confidence leaped too.







Maxing out your annual IRA contribution limit for a tax deduction is a basic step like learning to swim. 

Are you in any of these situations?:

  1. Have a work/stay-at-home spouse
  2. Have reached annual 401k savings limits
  3. Have 1099 income

There are additional saving strategies with tax advantages for those who are – let’s explore.  Let’s find out what else you can be doing – identify your own stretch goals in wealth management.

Contact me if you’re ready to boost your self-confidence in being financially tax-savings savvy.  Just as I encouraged my girls to challenge themselves, we can aim for your own wonderful result: a leap in your financial assets.

Let’s go for it,


Financial Advisor - Philadelphia