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Still time to save on taxes for 2019
For those who have 403b's you still have until about December 10th to cut your taxes for this year. Keep in mind you can increase your TSA contributions for one or two months and see a significant decrease in your taxes, while building your retirement that much faster. Due to the flexibility of contributions, you can increase and decrease the amount as often as needed, thus helping with both taxes and retirement savings.
Thank goodness I started saving early and didn't wait!
"There's always time to start saving later. " That's a common statement among those in their 20's or 30's. If we wait until there is a "convenient" time to save, it will never happen. There was an article in a newspaper that gave the reasons people gave for not saving- broken down by age brackets: Age 20-30- "I'm young, I have plenty of time to save. I'll start saving later." 30-40- "I can't save now. I have young children. It costs a lot to raise them." 40-50- " I can't save now. My kids are in college." 50-60- "I can't save now. I don't have enough time. Besides we'll probably have to move in with the kids." What's amazing is the article was printed in 1937. The same wxcuses our grandparaents and great-grandparents gave for saving are the same we give today.
Fast forward 30, 35 or 40 years later. Nothing much has changed. Sure technology has exploded, but so has everyone's personal debt. Take time to set a little money aside now. Learn to save rather than spend. Earn interest rather than pay interest. Like having a baby, there is never a convenient time to do it. Be like many who simply say " Thank goodness I started saving early and didn't wait!"In doing so you'll be well on the way to a comfortable retirement.
Grateful for that pay raise? Now shelter it from taxes
Several school districts have either approved or are in negotiations for pay increases for both classified and certificated employees. Depending on your pay, this could mean hundreds of extra dollars each month in addition to "retro" pay. Taxes will take a considerable portion of the pay raise, so why not add to your 403b, thus keeping your taxes low, earn high er interest, and build your retirement savings that much faster? Do you know a school employee who isn't contributing? Let us know and we can help.
Earn a 5% interest bonus on each deposit for 7 years!
If you're not already getting a 5% interest bonus on your money, now may be the time to start. Introducing the Paramount 5 which credits you a 5% interest bonus on each deposit you make into your 403b, IRA ,ROTH, or SEP IRA. You will also be credited additional interest based on the S&P 500 and a fixed interest account.
"Community Partners" wanted
Do you (or someone you know) have a small business and would like to give back to the community? If so, we want you as a part of our Community Partner Network program. This network of individuals and business owners will donate time and services to schools and organizations throughout the community. In exchange, the business will receive free advertising and promotional recognition. It may be donating items for a school carnival or canned-food to a homeless shelter. If interested, or if you know someone who would be, please contact us.
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