Have you begun to think about changes to make in the New Year? It's a good time to review your finances and pay particular attention to your retirement plan.  Like most workers, you probably depend on  a combination of employer sponsored and individual plans. There are two primary retirement plan types — 401(k)s and IRAs — and your challenge is to know how to choose the right plan for you. 

It’s the time of year when tax professionals are advising their clients to start thinking about tax preparation. It may seem premature – April is months away – but the advice is sound. It’s the first year that the Tax Cuts and Jobs Act will be in effect with many changes for individual filers. The earlier you begin prepping for your 2018 tax filing, the easier it will be for you and your tax professional to find your tax savings in the new law.

The true key to building wealth lies in building assets. Regardless of how much money you make, you can start converting your income into assets using tax strategies. The system is set up to go after income instead of wealth. The tax code offers incentives for asset building and your tax professional can advise you on the tax efficient strategies available.