Wednesday, February 29, 2012

Has Tax TIme Got You Thinking?

As we collect our financial data to complete our 2011 Tax Returns, it is also a good time to assess our current income and expenses as well as our assets and liabilities.  Whether we are just starting out with a job and/or young family, into retirement mode or somewhere in between, we should complete this exercise and then determine whether we want to see our situation improve in the coming year.
It is very often said that “it is not what you make but what you save that counts.”  This really works if we live within our means.  We need to spend less than we take in and not run up credit card and other short term debt any more than absolutely needed.  We need to “pay ourselves” first with a portion of our paychecks going into a retirement account (no matter what our age) and other savings.  We need to spread the savings around as we don’t have the luxury of focusing on only one financial goal at time with house payments, college savings, medical needs, retirement accounts and new vehicles on the horizon.
Living in a home that is comfortably within our means can allow for simplicity and a smaller monthly housing cost.  Houses are typically not only our biggest asset but the highest portion of our monthly costs.  By keeping expenses reasonable and comfortable, it frees up money that can be spent on other big goals and saving for the future.  Is our current house what we really need?  If we objectively consider our home’s costs and benefits, it is perhaps inertia that keeps us in place and tied down to more costs than benefit.
At Jensen communities®, we offer homes at Traditional, Classic and Premium price points to suit your desired investment and lifestyle.  By selling a larger and more costly home to maintain, many buyers find that they are not so much downsizing as “rightsizing” to a sensible one-floor home that fits and meets their present needs as well as more fun to live in.  All homes are Energy Star rated so they are more efficient to heat and/or cool with Energy Star appliances for additional savings.
If tax time has got you thinking, consider seeking out a change to a house within your means and move on to a home and lifestyle that will take less bite out of your income.
Get in on the Good Life!®

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