Those are certainly some of the obstacles you may face as you live life. And you’ll never be able to plan for all of them, but having a financial plan, proper insurance, and some savings for an emergency will help you manage anything that life throws at you.
There are two other obstacles we will all definitely come up against. Taxes and Inflation. So Step 4 of your financial plan is to prepare for taxes and inflation now and in retirement.
Taxes are fluid. Always changing depending on what the White House and Congress want to do with the economy. Most tax changes come in December and I am not even going to try and guess what they might be this year. But there will be some changes.
Tax planning tips:Keep good records. Understand the tax laws and be aware of changes "
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