I personally don't think there's anything wrong in owing the IRS some money. I prefer this over a refund. Why? Because owing money means you got a ZERO percent interest loan from the IRS versus them getting the interest free loan from you through a refund. The only thing I would want to avoid is the underpayment tax penalty. There are 3 ways to avoid that and I talk about that in the video below.
I did a Facebook live of the 5 different filing status of your tax return.
Are you a home owner? Have you wondered if it's worth paying off mortgage early versus doing something else with that money?
In this video, I share with you what we have decided and what gives us a better rate of return.
Enjoy the video!
It means different things to different people. In my opinion, it's when you generally feel at ease with your finances and confident about achieving or on track to achieving any financial goals you set your mind to.
Let me start by sharing my story. For me, one of my definitions of financial freedom is being my own boss. I've always dreamed of no longer having to answer to anyone, not having to deal with corporate politics, not working hard so someone else can look good (typically the higher-ups),and not worrying about looking good during performance reviews with the hopes of getting promoted. Being my own boss means I run my own schedule. My day starts when I want it to. I don't wake up to an alarm clock anymore. I set my schedule and priorities based on what's important to ME and not due to someone else's fire drills or lack of planning. I wrote a blog about how my first month went. June is now my second month coaching full-time and I am already profitable halfway through the month. For me, nothing beats being my own boss and running my own show and having my own rules without the need to ask for approval.
When I was in corporate, retiring early at 55 was one of my goals (and my retirement model supports that as well). But now that I'm running a business I love so much, I might never have to retire. I'll work as long as I am able to help people. Usually, people dream of early retirement because they're not happy with their corporate job. Do you really want to continue working doing something you don't truly love just dreaming about the day you don't have to work?
Share your story, what are your financial dreams? What does financial freedom look like to YOU?
Schedule a complimentary chat if you'd like to see how I can help you achieve that.