Year-End Tax Strategies For Your Portfolio
Key Takeaways In a bear market, it’s more important than ever to make sure you are taking advantage of every tax break available to you.
Inflation Indexed Savings Bond
Series I Savings Bonds issued by the U.S. government that pays an interest rate that is a combination of a fixed rate that stays the same for the life of the bond and an inflation rate that is set twice a year. At time of writing, the interest on a Series I bond issued from May 2022 through October 2022 was 9.62%.
Here’s what you need to know about these unique securities.
Buying a Car
Owning a car can be a significant expense that eats into your bank account each month. Aside from the upfront purchase, you also have to worry about long-term expenses associated with maintenance, gasoline, and insurance coverage. Worry not – there are many strategies you can adopt to minimize costs. Below, we discuss the best time to buy a car, money-saving features, and more. With these tips and tricks, you can avoid paying too much, while staying on the road with a car that meets your needs.
Managing Debt
Debt can be sneaky. Balances on loans and credit cards that accrue interest can force you to pay more than you anticipated, eat away at your monthly cash flow, and make it difficult to save for the future. And since debt lowers your total net worth, it can make achieving big-picture goals, like buying a house or car, more difficult. However, debt is practically inevitable in today’s financial landscape.
Student Loan Guide
The cost of education continues to skyrocket, and there are no signs of prices leveling off anytime soon. A traditional four-year degree program leaves many students swimming in debt, and the price tag of pursuing an advanced degree makes the cost even harder to handle. Your choices about student loans begin even before you enter school, so understanding the process and making smart decisions now will impact how you deal with financial obligations after you graduate. Picking the right school and program, choosing the right loan, optimizing your repayment and consolidation, and taking advantage of assistance programs can all help to reduce your overall exposure.
How to Raise Your Credit Score
Credit score is a central component to personal financial success. Having a clean credit report and high credit score opens the door to plenty of opportunities like qualifying for great rates on credit cards, better rental housing options, lower interest mortgages, insurance discounts, and more. If you lack strong credit right now, it’s possible to improve. It takes consistency and financial prudence, but the sooner you start addressing problems with your credit, the better you’ll position yourself for the future.
