Year-end financial planning isn’t something to overlook until the very last minute. Staying on top of this matter could lead to tax relief and help ensure you meet your short- and long-term savings goals. Furthermore, being proactive about financial planning could also save you time and money if you choose to get help from a professional as the year comes to a close.
Fortunately, there are several apps you can take advantage of to make financial planning more straightforward and less of a hassle. We’ll cover five of them below.
Although this app is primarily a monthly budget tracker, it also has other features that are particularly handy for facilitating financial planning at the end of the year. Use the full-text search to find records of particular expenses. Generate graphical reports and see pie charts representing the things you bought during the year. Also, set up recurring payments and take pictures of receipts, so you don’t have to worry about losing the paper versions.
Money Help Center recently created a tax calculator that has one unique feature most other tax calculators don’t: it can account for the new GOP tax bill and its potential to impact U.S. citizens. Using this web app, you can estimate your 2018 taxes under the new tax bill. The site also offers a more traditional tax calculator (which doesn’t take the new tax reform into account). You can use both and compare the results to see how “Trump Tax Reform” will impact you.
Like many people, you may have a retirement age in mind but not know if that plan is a realistic one. That’s why the end of the year is a perfect time to use the MarketWatch Retirement Planner. It lets you know if you’re on track to retire when you want to by using a three-step calculation process. If the results aren’t in line with your expectations, decide to meet with a professional retirement planner and determine if there are things you could do to make improvements.