What to do with Your Green?

Give yourself a tax break.
Most people believe income taxes will go up in the near future. One current way to protect yourself from being at the mercy of tax legislation is to open and fund your own Roth IRA. Any money you put in plus all of its earnings can be withdrawn, if done properly, income tax free.

Some tax planning now could benefit you tremendously in retirement.

• Invest in a child
• Give your daughter, son, grandchild, niece, or nephew the gift of a college education. College is becoming a pre-requisite to employment. There are tax advantaged ways to invest and save for the increasing costs of college. This could be a gift that keeps on giving for someone you love.
• Increase your worth by giving it away. A fundamental practice of people who are the happiest and most fulfilled in life is giving a portion of their money away on a planned, consistent basis. If you are not practicing this, you are robbing yourself of one of life's ultimate gifts.

• Pay off your debts
• Remove the undue stress and bondage debt creates in your life. Currently many people are experiencing just how much control you give to a bank or credit card company when you use their money.
• Take back control of your hard earned dollars and feel the rewards of freedom from debt.
• Be grateful for the "green" you receive

Gratitude is the key component to being truly wealthy. Money itself doesn't make a person wealthy; just look around at some of the people with lots of money, but are miserable. If you can be grateful for whatever level of money you receive; then you are on your way to being truly wealthy.

Contact MyGuy today to learn more great financial tips.