As you move forward toward retirement, it's important to revisit your initial plan and assess whether there are additional steps you should be taking. Let’s explore some critical questions and actions that can help guide you to a financially secure retirement.
Are Your Financial Plans Goal-Focused?
Maximize Your Tax Savings with the Clergy Housing Allowance
The Clergy Housing Allowance is a provision that allows ordained, licensed, or commissioned ministers to exclude some or all of their housing expenses from gross income for federal income tax purposes. This exclusion can be a game-changer for your financial planning, but it requires careful documentation and proper designation to maximize its benefits.
Embrace the Power of Diversification for a Secure Retirement
A market "quilt” image shows that it is difficult, if not impossible, to find any kind of trend. It demonstrates the unpredictability and randomness of investment results, and that past performance does not predict future performance. This underscores the importance of diversification in your portfolio as a tool to help you reach your investment goals and manage risk.