Posts Tagged ‘expenses’

New Tax Law Preserves Medical Deduction

Friday, August 10th, 2018

For the next 18 months, Americans with high medical bills will be able to continue to write off expenses exceeding 7.5% of their income. To claim the deduction, filers must itemize. However, now that the standard deduction has been increased to $12,000 for individuals, $24,000 for joint filers, it may make sense to simply claim the standard deduction, according to the AARP.

Planning For Your Child’s Education

Thursday, June 21st, 2018

As parents, you want to make sure your children have the best education possible, yet the cost of schooling and university can be extremely high. The money that you spend on your children’s education can be one of your largest lifetime expenses, so saving early is key.

Starting to save early will enable you and your child to select an excellent school or university based on the programme and their academic ability, rather than your financial situation. (more…)

Dreaming of a Royal Retirement?

Tuesday, March 13th, 2018

Cash flow is king when thinking about your financial future

 

Cash flow is like the water in the moat surrounding a successful retirement. It’s an essential element of financial planning that can help you defend your castle against unexpected expenses, coffer-raiding or overspending. Cash flow planning combines five interdependent activities: setting goals, establishing an emergency fund, calculating your net worth, recording expenses & communicating your wishes to your loved ones — the five elements of cash flow planning.

Look from the Tower: Set Goals
It’s impossible to plan without having a goal in mind. When it comes to your future finances, start with the basics, whether it’s to pay down school loans or to establish a three-month emergency fund. (more…)