Are You Getting the Most Out of Your Money? Are you getting the most out of your money? Are you sticking to your financial goals in the new year? Do you have a plan in place for those tax returns? Are you doing any saving or investing? Here are a few things to consider as you take a look at your overall financial health and where your money is going. 401(k)-Retirement Plan Does your employer offer a 401(k)-retirement plan? If so, are you taking full advantage of this opportunity? Employers will often match a certain percentage of your contribution. For example, if your employer offers a 5% match and you decide to contribute 5% yourself, suddenly you’re looking at a 10% contribution. Having a leg up thanks to that contribution from your employer can put your retirement investments in a great place. The more you can start saving now, the better off you'll be when it comes times to retire. IRAs Are you anticipating a nice tax return this year? Do you have a plan in place for that tax return? As you look to stay financially fit for the long-term, a Roth IRA may be one tool to consider as part of your planning. Both a Roth and Traditional IRA offer tax-deferred growth. However, contributions to a Roth IRA are made with post-tax dollars while a Traditional IRA is funded with pre-tax dollars. Because Roth IRA contributions are made with post-tax dollars, you may withdraw your contributions at any time without penalty. We recommend you speak with our wealth management specialist to help determine which IRA is best for you and how you should fund and if a Roth IRA is a good financial fit to your overall financial plan. Consolidating Your Debt Still carrying around high-interest rate debt from other lenders or credit cards? Are you making minimum monthly payments that are just enough to cover the interest charges? Have you considered consolidating that debt? Our team of experts can provide a free personal loan review to show you the best way for settling your debt. A personal loan from LOC is a great plan to more easily manage your debt with one simple personal loan payment featuring a lower interest rate with fixed term. We offer both short and long term personal loan options. You can also take advantage of 0% APR on all balance transfers for up to six months with the LOC Visa Credit Card. Check Your Credit Report Have you reviewed your credit report in 2018? If not, you should thoroughly examine your report for any inaccuracies and discrepancies. You are entitled to a free copy of your credit report every 12 months. You can learn more about how to obtain your copy here. If you use our identity protection service powered by ID Protect, you can obtain a free copy of your credit report every 90 days. Emergency Savings In the event of an emergency, are you prepared to be without income for an extended period of time? Having an emergency savings nest egg can be crucial to your financial health. It's suggested that you have an emergency savings of three to six months worth of expenses. Although you cannot prepare for an unforeseen situation, you'll take comfort in knowing that you have enough saved up to cover or at least help offset your expenses. While each situation is unique, take a look at your income and expenses before deciding how much you need to save each week to get to your emergency savings goal.