Mid-Year Financial Check-Up – Items to Assess

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Today’s Smart Money Question:

As we move beyond the mid-point of the year, we always take this time to have a check-up with clients to run through a number of items that might need attention before the end of the year. Today we’ll share a few of those things, including budgeting, Roth contributions, and SECURE Act 2.0 changes.

Then we’ll spend some time running through a few different scenarios we’ve helped clients out in recent weeks. The first deals with providing a gift to your child to help with a home down payment, but what do you need to consider if they are buying it with a boyfriend/girlfriend. From there we’ll talk about the idea of keeping a mortgage in retirement because of the tax deduction. Does that strategy really pay off financially over time? And finally, let’s wrap up this episode by highlighting a few of the financial conversations that create tension for couples. 

On today’s show, here’s some of what you’ll learn:

  • Is a Roth IRA or Roth 401k actually a bad investment option? Let’s breakdown a recent article we found.
  • A list of items to be paying attention to before the end of the year.
  • Is it a good idea to help out your child and their boyfriend/girlfriend with a house down payment? Here’s what you should address.
  • Should you keep your mortgage in retirement for the tax deduction?
  • The financial topics that create tension for couples.

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

 

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