Tax Deadline – Did you get a “Wake up Call?” | Spencer Insurance Agency, Inc

Tax Deadline – Did you get a “Wake up Call?”

 

Tax return

Now that the tax deadline is here, all of us have either paid or extended our tax deadline.  Even if we extended the deadline we still paid what we estimated will be our tax.  So, I ask you, was doing your tax return a “Wake up Call?”

What do I mean by Wakeup call?  As you did your tax return you had an opportunity to review:

  • How much money you earned
  • How much money you spent
  • How much money you invested last year
  • How much money you have invested

So what does all this tell you?  Here are a couple questions to ask NOW:

  • What would happen to my family if I died and they did not have the income I earned this year?
  • What would happen to my family if I was disabled and could not work and I did not have my current income?
  • Am I on target to retire when I want to retire?
  • Would I bankrupt my retirement assets if I had long term care expenses?

So have I added to your stress?  I hope not.  A solution to financial stress is to take action:

  • Meet with a financial planner and discuss your retirement goals and evaluate where you are in reference to those goals
  • Meet with your insurance agent and review your life, disability, long term care, auto and home insurance
  • Meet with an attorney and draw up a will, power of attorney and medical directives
  • Review your budget to see where you can save money
  • Start tracking what you spend so you know where your money is going
  • Now that your accountant has some time to breathe, discuss your tax situation and see if any tax planning for this year would help you save on taxes

We are here to help you!  Take some action today.  Email us at info@spencerinsurance.com or call us at 215-885-2200 to get some answers to the questions above.  Taking some action now will help reduce your stress and put you back on the path to reach your goals.

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