still get the emotional benefit of enjoying your success while most of the savings quietly builds your future.
Step 6: Align Your Savings Plan With Professional Advice
There are a lot of opinions on the best way to manage your new found tax savings. Some voices say you should put every extra dollar into investments. Others say you should pay down all debt as quickly as possible. Others focus mainly on retirement accounts or starting businesses.
Much of the best guidance suggests a balanced approach:
• Ensure an adequate emergency fund • Pay down high interest debt • Contribute meaningfully to retirement • Then invest for other goals in a diversified way
The best mix for you depends on your age, income, risk tolerance, family situation, and long term goals. That is where a financial advisor or planner earns their keep. My role as your Realtor is not to tell you which ETF to buy or which debt to pay first. It is to help you create the real estate structure that sets you up for success: • A home in a town that aligns with your tax and lifestyle priorities • A monthly cost that fits your comfort zone • A path forward that supports your other financial goals Once you have that foundation, your financial professionals can help you decide how to deploy your tax savings in a way that truly matches your life.
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