Don’t ruin retirement by being caught off guard with unexpected retirement expenses. Even the most careful planners need to read these potential expenses so that they can buffer their retirement savings. What can go wrong may go wrong, which always carries a price tag.
If you are an empty nester, many of your potential tax deductions have the potential to leave along with your children. Therefore, it is important to determine other deductions you can use instead. Here are three, Empty Nest tax deductions you should consider.
The empty nest stage is, by definition, a time of loss. However, it is likely also a time of gain—no longer are you spending money for children in the home. What do you do with this “unaccounted” for cash? This financial planning checklist of important considerations may help you determine the answer.