Keep these tips in mind when you’re planning a home office:
- Be sure it’s ergonomically correct
- Find the optimal location
- Consider used office furniture
- Incorporate lighting, plants and sound
You don’t need to wait until the beginning or the end of the year for a financial review, especially if your investment mix, risk tolerance, or time horizon has changed recently. When reviewing your Discover savings accounts or meeting with your financial advisor, consider whether the following areas of your life are on track.
Retirement Planning — Have you determined approximately when you expect to retire and how much you need to accumulate as a nest egg? If your retirement is close at hand or if you are already retired, your financial advisor can help you calculate how much you can withdraw from accounts such as your Discover Individual Retirement Account (IRA) CD for annual living expenses without depleting your assets. Discover offers both Traditional and Roth IRA CDs which have no monthly maintenance fees and offer competitive rates with guaranteed returns.
Net Worth — Have your total assets minus total liabilities (such as loans and credit card debt) gone up or down during the past year? Many investors may be facing a smaller net worth because of declines in the value of stock and real estate holdings. If this describes you, don’t despair. Consider whether you can start saving more in an attempt to rebuild your assets. In addition to IRA CDs, Discover also offers a wide variety of flexible, high-yield accounts designed for each of your unique savings goals, including Discover’s Online Savings Account, Money Market Accounts, and CDs. With all those choices, you’ll be sure to find the terms and rates you’re looking for.
Estate Planning — Do you have a will? Have you reviewed your beneficiary designations? Have you considered the tax implications of transferring your estate to your heirs? If your estate plan was prepared some years ago, it may be time for a review to make sure it is appropriate for your current circumstances.
Everyone’s financial life is unique, and you may face other considerations that are important in the short term. By taking time to review your finances at mid-year, you may ultimately find yourself further along in pursuing long-term goals.
Regardless of your time horizon, risk tolerance, or savings goal, you can always find the right savings vehicle for your needs at Discover. Discover offers an Online Savings Account to help you with your short-term savings goals, a full range of CDs and IRA CDs with terms from 3 months to 10 years as well as Money Market Account that may be ideal for rounding out your overall savings strategy. Open a Discover account online in minutes or call our 24-hour U.S-based Customer Service at 1-800-347-7000.
The article and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.
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