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tipweek: financialfactoid_25.htm Financial Planning Basics – Part 2

Taking care of your financial affairs is important.

  • Save for retirement by taking full advantage of your employer’s retirement plan and consider an IRA.
  • Be informed about and sensitive to taxes, but not tax foolish.
  • Have a sensitive investment strategy that reflects your time horizon and risk tolerance.
  • A well constructed estate plan distributes your assets and can reduce taxes. Be sure to cover guardianship issues and have powers of attorney for finances and medical issues.