Sometimes little things added together can make a BIG impact! Here are 3 things to consider:
1.WANT TO ADD ANOTHER $7,200/YEAR TO YOUR FUNDS YOU’VE EARMARKED FOR RETIRMENT? If you are eligible to contribute to a Health Savings Account (HSA), max it out and get the current year tax deduction but do NOT use it to pay your current medical expenses. Instead, save it for tax-free cash flow in retirement.
2.WANT TO EARN 3.54% INTEREST ON YOUR LONG-TERM CASH WITH THE BACKING OF THE U.S. GOVERNMENT? Consider buying Series I Savings Bonds.
3.WANT TO GET A FREE $1,000 FROM THE STATE OF ILLINOIS? If your 401(k) allows for the conversion of your deductible 401(k) contribution to a Roth 401(k), you’ll get to keep the state income tax deduction.
If you want to chat about these tidbits and the details on limits or qualifications give us a call at 847.559.0800.