October is National Financial Planning Month Part 2

October is National Financial Planning Month Part 2

Continuing our discussion about how you can improve your finances…

Let’s talk investment portfolio. When was the last time you reviewed how your accounts are doing? I personally review every investment account and track balance changes every month. It’s really good for me to see the changes that are happening, with contributions we are making, and the impact market fluctuations have.

So how about you? How much progress are you making with your investments?

Retirement savings – Have you maximized contributions in 2021 to all possible accounts? Your 401k, IRA, and are you able to do “back door” Roth IRA contributions?
There is still a few months left in 2021, reassess your options. Not only do you save more for retirement, but you also can reduce your taxable income in 2021.
Reach out to your accountant for tax projects asap!

Education savings for kids – Have you started saving for your kid’s education needs? If yes, are you current with your contributions?

If you haven’t started, take a look at what your current college costs are and figure out what your monthly savings need to be.
529 colleges savings accounts are great vehicles to help your balances grow tax-free

Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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