Phoenix Financial Planning – No Cost Solutions

If you are living in the Phoenix area and determined to take control of your finances in 2010 here are 5 financial planning steps you can take:

1. Maintain Liquid Reserves. Whether you live in metro Phoenix or anywhere in Arizona, you need to have at least 6 months of liquid reserves available. If you are contributing to a 401k , IRA, Roth or other retirement account and you do not have liquid reserves in a savings account stop contributing to your retirement accounts and build your savings up first. You will incur stiff penalties from the IRS if you need to cash out your retirement plan before age 59½.

2. Eliminate Market Risk from your IRA/ROTH/SEP/401k/403B and position the funds for growth from market rebounds. You never have to take market losses again. Use one of our safe accounts with no fees and 20% matching for our 10-year retirement account. Most of our accounts have more than double the value of the average account in Phoenix. A solid financial planning program should never lose money. Click here to find out how to grow your money with no risk of market losses.

3. Get Out of Debt. Phoenix residents have lost a lot of equity recently and your financial planning program should adjust for that. Most people think you need big chunks of money to get out of debt. We have a simple system that can help you pay off your mortgage early – in 1/2 to 1/3 the time with no change in spending. We can run your numbers for free and show you how it works.

4. Fund a Tax-FREE Side Account. If you are looking to put money away we can show you how to grow your money tax free and access your money tax free as well. All funds are guaranteed against market losses. And if you own your own business we can show you how to fund unlimited tax free accounts through your business. This is a financial planning strategy you will not get from other advisors in Phoenix. Click here to learn how to create Tax Free wealth for retirement.

5. Consider converting your IRA’s to ROTH IRA’s. If you have already lost money in your IRA, it may be a good time to take the losses and convert. We can show you how to do this without having a big cash outlay for taxes. (We can even show you how to get the taxes paid.) Roth’s grow tax free and are tax free on the way out. This is big. Pay a small amount of taxes now and pay none down the road! Also a ROTH requires no minimum distribution so you never have to take money out even after 70.5 and the funds pass tax free to your heirs.

Be determined to take control of your finances before 2010 gets here! If you have financial planning questions and live in the Phoenix area our office is conveniently located in downtown Scottsdale. Call us at 480-970-5663. You can also visit our financial planners Arizona section of the website.