from FREEDMAN FINANCIAL | July 15, 2016

Do You Know How You're Spending Your Money?

Start tracking your spending. You might be surprised what you'll find.

We meet with clients and prospects everyday who are unaware of just how much they are spending. What you spend each month is critical to creating a sound financial plan. If you are underestimating your spending you may be doing yourself a great disservice, especially if you hope to meet your financial goals.

Whether you are just starting out or already well into retirement, living within your means and knowing where your money is going is critical. While tracking every penny, may not be necessary for most, it is an interesting activity to try for few weeks or even a little longer. There are apps and software out there that make the process very easy. You might be surprised to see just where you're "blowing your budget".

Tracking your Steps? Why Not Your Spending

Get Out & Play Pokemon Go!

Need a Reason to Start Playing Pokemon Go

Need a Reason to Play Pokemon Go

Unless you've been living under a rock the past few weeks you've probably heard of Pokemon Go. But what it is? Should you be playing along? Click on the video above to learn more.

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The Lesser Known Roth 401(k)

Many employers are now offering a Roth 401(k) option. Are you contributing? Should you?

With a traditional 401(k), you have your contribution deducted from you pay on a pretax basis. You then defer paying taxes on your contributions and earnings until you begin taking distributions in retirement. The Roth 401(k) is different. It allows you to make post tax contributions and grow your money without the burden of future taxes!

For younger workers in lower income brackets this is a great and often overlooked option. Those workers in a higher tax brackets may also consider placing a piece of their 401(k) contributions into the Roth option as it could offer you choices for drawing money in retirement without the burden of a tax liability.

Pay the taxes now or pay the taxes in retirement. Which will be lower? It's hard to say. But with a thoughtful financial plan, and a conversation with a Certified Financial Planner professional, you'll receive the guidance you need to make an informed decision. Take a look at your company's 401(k) options and see what makes the best sense for your individual situation.

401 (k) Options to Consider

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The opinions expressed in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult your financial advisor prior to investing.

Investment advice offered through Freedman Financial, an SEC registered investment advisor.