Get A Grip On Your Money with Damon Carr

Damon Carr
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Financial Planner, Money Coach, Tax Pro Personal Finance Journalist Damon Carr Helps Everyday People Get A Grip On Their Money. In this Podcast Damon will delve into articles he’s written in his Personal Finance Column “The Carr Report” and “Ask Damon” E-Newsletter and he’ll discuss Trending Topics in the news about money

  1. 12h ago

    👴🏾👵🏾 𝐑𝐄𝐓𝐈𝐑𝐈𝐍𝐆 𝐖𝐈𝐓𝐇𝐎𝐔𝐓 𝐊𝐈𝐃𝐒? 𝐘𝐎𝐔 𝐍𝐄𝐄𝐃 𝐀 𝐁𝐀𝐂𝐊𝐔𝐏 𝐏𝐋𝐀

    Who will help when you can’t help yourself? Without children or dependable family nearby, you may have to buy support others receive from relatives. 💰 Retirement planning must cover more than your 401(k), pension and Social Security. Create a 𝐏𝐄𝐎𝐏𝐋𝐄 𝐏𝐋𝐀𝐍: financial power of attorney, medical decision-maker, bill manager, executor, beneficiaries, pet care and final wishes. 📋 Don’t assume family will figure it out—put it in writing! Enjoy your money and impact, but fund your future first—before giving money away. 💯 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #RetirementPlanning #EstatePlanning #LongTermCare #TheCarrReport #MoneyCoach

  2. 1d ago

    💰🌊 𝐂𝐎𝐀𝐒𝐓 𝐅𝐈 𝐌𝐄𝐀𝐍𝐒 𝐘𝐎𝐔𝐑 𝐌𝐎𝐍𝐄𝐘 𝐂𝐀𝐍 𝐃𝐎 𝐓𝐇𝐄 𝐇𝐄𝐀𝐕𝐘 𝐋𝐈𝐅𝐓

    If you’re 40 with 💰🌊 𝐶𝑂𝐴𝑆𝑇 𝐹𝐼 𝑀𝐸𝐴𝑁𝑆 𝑌𝑂𝑈𝑅 𝑀𝑂𝑁𝐸𝑌 𝐶𝐴𝑁 𝐷𝑂 𝑇𝐻𝐸 𝐻𝐸𝐴𝑉𝑌 𝐿𝐼𝐹𝑇𝐼𝑁𝐺!, earning a hypothetical 10% average annual return, by 67 it could grow to roughly $𝟑.𝟗𝟑 𝐌𝐈𝐋𝐋𝐈𝐎𝐍—𝐞𝐯𝐞𝐧 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧! 📈 Technically, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐜𝐨𝐚𝐬𝐭 𝐚𝐧𝐝 𝐛𝐞 𝐎𝐊. 𝐌𝐄? 𝐈 𝐖𝐎𝐔𝐋𝐃𝐍’𝐓 𝐓𝐀𝐊𝐄 𝐌𝐘 𝐅𝐎𝐎𝐓 𝐎𝐅𝐅 𝐓𝐇𝐄 𝐏𝐄𝐃𝐀𝐋! 🏁 Nobody ever retired thinking, “I saved TOO MUCH MONEY!” Keep investing. Keep getting that match. Let compound growth cook! 𝐍𝐨𝐰 𝐰𝐞’𝐫𝐞 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐭𝐚𝐥𝐤𝐢𝐧𝐠 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐦𝐨𝐧𝐞𝐲—𝐰𝐞’𝐫𝐞 𝐭𝐚𝐥𝐤𝐢𝐧𝐠 𝐋𝐄𝐆𝐀𝐂𝐘 𝐌𝐎𝐍𝐄𝐘! 💰 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #CoastFI #TheCarrReport #LegacyMoney #RetirementPlanning

  3. 1d ago

    🛍️ 𝐒𝐇𝐎𝐏𝐀𝐇𝐎𝐋𝐈𝐂𝐒: 𝐘𝐎𝐔’𝐑𝐄 𝐀 𝐒𝐔𝐂𝐊𝐄𝐑 𝐅𝐎𝐑 𝐒𝐀𝐋𝐄𝐒 𝐀𝐍𝐃 𝐀 𝐒𝐔𝐂

    Some of y’all don’t have a shopping problem—you have a 𝐓𝐑𝐈𝐆𝐆𝐄𝐑 𝐩𝐫𝐨𝐛𝐥𝐞𝐦. Sale email? Click. Instagram ad? Browse. “LIMITED-TIME DEAL”? Buy. 💳 Remember this: 𝐀𝐋𝐋 𝐓𝐇𝐀𝐓 𝐒𝐓𝐔𝐅𝐅 𝐔𝐒𝐄𝐃 𝐓𝐎 𝐁𝐄 𝐌𝐎𝐍𝐄𝐘! 💰➡️🛍️ That overflowing closet, shoes still boxed and gadgets collecting dust? That was MONEY sitting in your bank account. 𝐓𝐫𝐮𝐬𝐭 𝐦𝐞—𝐭𝐡𝐞 𝐌𝐎𝐍𝐄𝐘 𝐥𝐨𝐨𝐤𝐬 𝐛𝐞𝐭𝐭𝐞𝐫 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐭𝐡𝐚𝐧 𝐬𝐢𝐭𝐭𝐢𝐧𝐠 𝐢𝐧 𝐚 𝐩𝐢𝐥𝐞 𝐨𝐟 𝐒𝐓𝐔𝐅𝐅! Unsubscribe. Unfollow. Delete shopping apps. Wait 48 hours before nonessential purchases. And remember: 𝐀 𝐒𝐀𝐋𝐄 𝐨𝐧𝐥𝐲 𝐬𝐚𝐯𝐞𝐬 𝐦𝐨𝐧𝐞𝐲 𝐰𝐡𝐞𝐧 𝐲𝐨𝐮 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐩𝐥𝐚𝐧𝐧𝐞𝐝 𝐭𝐨 𝐛𝐮𝐲 𝐢𝐭. Stop collecting STUFF and start collecting MONEY! 💰 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #TheCarrReport #MoneyCoachDamonCarr #ImpulseSpending

  4. 2d ago

    𝐁𝐑𝐎𝐊𝐄 𝐇𝐀𝐏𝐏𝐄𝐍𝐒. 𝐒𝐓𝐀𝐘𝐈𝐍𝐆 𝐁𝐑𝐎𝐊𝐄 𝐈𝐒 𝐃𝐈𝐅𝐅𝐄𝐑𝐄𝐍𝐓. 💸

    Being broke can be temporary. 𝐋𝐢𝐟𝐞 𝐡𝐚𝐩𝐩𝐞𝐧𝐬. 𝐉𝐨𝐛𝐬 𝐝𝐢𝐬𝐚𝐩𝐩𝐞𝐚𝐫. 𝐄𝐦𝐞𝐫𝐠𝐞𝐧𝐜𝐢𝐞𝐬 𝐡𝐢𝐭. Sometimes circumstances knock you down financially. Getting knocked down isn’t the problem—𝐬𝐭𝐚𝐲𝐢𝐧𝐠 𝐝𝐨𝐰𝐧 𝐢𝐬. Here’s where the real talk starts: 𝐁𝐫𝐨𝐤𝐞 𝐜𝐚𝐧 𝐛𝐞𝐜𝐨𝐦𝐞 𝐚 𝐡𝐚𝐛𝐢𝐭. 😳 Overspending. Overborrowing. No savings. No plan. Financing a lifestyle your income can’t support. 𝐒𝐚𝐦𝐞 𝐛𝐚𝐝 𝐡𝐚𝐛𝐢𝐭𝐬. 𝐒𝐚𝐦𝐞 𝐛𝐫𝐨𝐤𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬. And understand this: 𝐁𝐚𝐝 𝐦𝐨𝐧𝐞𝐲 𝐦𝐨𝐯𝐞𝐬 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐭𝐨𝐨. 📉 Keep making poor financial decisions today, and tomorrow’s paycheck will already be spent before you even earn it. Want different money? 𝐌𝐚𝐤𝐞 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬. Change your habits. Change your priorities. Change your results. 💰 Being broke may be temporary. 𝐒𝐭𝐚𝐲𝐢𝐧𝐠 𝐛𝐫𝐨𝐤𝐞 𝐝𝐨𝐞𝐬𝐧’𝐭 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐛𝐞𝐜𝐨𝐦𝐞 𝐩𝐞𝐫𝐦𝐚𝐧𝐞𝐧𝐭. 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #GetAGripOnYourMoney #TheCarrReport #MoneyCoachDamonCarr #PersonalFinance #FinancialFreedom #BreakTheBrokeCycle

  5. 2d ago

    💰 𝐑𝐄𝐓𝐈𝐑𝐄𝐌𝐄𝐍𝐓 𝐈𝐒𝐍’𝐓 𝐀𝐍 𝐀𝐆𝐄—𝐈𝐓’𝐒 𝐀 𝐅𝐈𝐍𝐀𝐍𝐂𝐈𝐀𝐋 𝐏𝐎𝐒𝐈𝐓𝐈

    Too many people think turning 65 automatically means it’s time to retire. 𝐘𝐨𝐮𝐫 𝐛𝐢𝐫𝐭𝐡𝐝𝐚𝐲 𝐝𝐨𝐞𝐬𝐧’𝐭 𝐩𝐚𝐲 𝐲𝐨𝐮𝐫 𝐛𝐢𝐥𝐥𝐬. 𝐘𝐨𝐮𝐫 𝐦𝐨𝐧𝐞𝐲 𝐝𝐨𝐞𝐬. 🎯 You can be 65 and financially unprepared—or 60 and financially FREE. Here’s what people miss: 𝐓𝐡𝐞 𝐦𝐨𝐫𝐞 𝐝𝐞𝐛𝐭 𝐲𝐨𝐮 𝐜𝐚𝐫𝐫𝐲 𝐢𝐧𝐭𝐨 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭, 𝐭𝐡𝐞 𝐦𝐨𝐫𝐞 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐢𝐧𝐜𝐨𝐦𝐞 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝. 🏠 Got a $𝟐,𝟎𝟎𝟎 𝐦𝐨𝐧𝐭𝐡𝐥𝐲 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞? That’s $24,000 every year your Social Security, pension, or investments have to produce just to keep a roof over your head. Pay that mortgage off? 𝐁𝐎𝐎𝐌! 💥 𝐘𝐨𝐮 𝐣𝐮𝐬𝐭 𝐞𝐥𝐢𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐚 $𝟐𝟒,𝟎𝟎𝟎 𝐚𝐧𝐧𝐮𝐚𝐥 𝐞𝐱𝐩𝐞𝐧𝐬𝐞. That’s why I tell people: 𝐍𝐨 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐬 𝐦𝐨𝐫𝐞 𝐬𝐞𝐜𝐮𝐫𝐞 𝐭𝐡𝐚𝐧 𝐩𝐚𝐢𝐝-𝐨𝐟𝐟 𝐝𝐞𝐛𝐭. Eliminating debt works almost like creating your own guaranteed pension—not because somebody sends you another check, but because 𝐲𝐨𝐮 𝐩𝐞𝐫𝐦𝐚𝐧𝐞𝐧𝐭𝐥𝐲 𝐞𝐥𝐢𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐚 𝐜𝐡𝐞𝐜𝐤 𝐲𝐨𝐮 𝐡𝐚𝐝 𝐭𝐨 𝐰𝐫𝐢𝐭𝐞. 💵 My advice? 𝐏𝐚𝐲 𝐭𝐡𝐚𝐭 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐨𝐟𝐟 𝐰𝐢𝐭𝐡𝐢𝐧 𝐟𝐢𝐯𝐞 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭. Retirement readiness isn’t about candles on the birthday cake. 🎂 𝐈𝐭’𝐬 𝐚𝐛𝐨𝐮𝐭 𝐂𝐀𝐒𝐇 𝐅𝐋𝐎𝐖! 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #TheCarrReport #RetirementPlanning #DebtFree #MortgageFree #FinancialFreedom #MoneyCoach #GetAGripOnYourMoney

  6. 3d ago

    🚨 𝐓𝐇𝐄 𝟒% 𝐑𝐔𝐋𝐄 𝐈𝐒 𝐀 𝐒𝐓𝐀𝐑𝐓𝐈𝐍𝐆 𝐏𝐎𝐈𝐍𝐓—𝐍𝐎𝐓 𝐀 𝐑𝐄𝐓𝐈𝐑𝐄𝐌𝐄𝐍𝐓

    A $1 million portfolio does not automatically mean you can safely withdraw $40,000 every year forever. Retirement math is not that simple. 💰 𝐘𝐨𝐮𝐫 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐦𝐢𝐱 𝐦𝐚𝐭𝐭𝐞𝐫𝐬. Hold too much cash, inflation eats your buying power. Take too much risk, and a market crash can permanently damage your nest egg. Then come the silent killers: 𝐭𝐚𝐱𝐞𝐬, 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐟𝐞𝐞𝐬, 𝐚𝐧𝐝 𝐫𝐢𝐬𝐢𝐧𝐠 𝐞𝐱𝐩𝐞𝐧𝐬𝐞𝐬. Social Security, pensions, and income may reduce how much you need from savings. Taxes may force you to withdraw more just to cover the same lifestyle. The smart move? 𝐀𝐝𝐣𝐮𝐬𝐭 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐚𝐥𝐬 𝐚𝐬 𝐥𝐢𝐟𝐞, 𝐦𝐚𝐫𝐤𝐞𝐭𝐬, 𝐚𝐧𝐝 𝐞𝐱𝐩𝐞𝐧𝐬𝐞𝐬 𝐜𝐡𝐚𝐧𝐠𝐞. Retirement income is a moving target—not autopilot. 🎯 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #TheCarrReport #RetirementPlanning #MoneyCoach #FinancialFreedom

  7. 3d ago

    💰 𝐌𝐎𝐑𝐄 𝐌𝐎𝐍𝐄𝐘 𝐖𝐎𝐍’𝐓 𝐅𝐈𝐗 𝐁𝐀𝐃 𝐌𝐎𝐍𝐄𝐘 𝐇𝐀𝐁𝐈𝐓𝐒!

    A bigger paycheck won’t magically make you better with money—it’ll just make your bad habits 𝐦𝐨𝐫𝐞 𝐞𝐱𝐩𝐞𝐧𝐬𝐢𝐯𝐞. If you can’t manage $50,000, earning $100,000 doesn’t automatically fix the problem. 🚨 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 𝐜𝐫𝐞𝐞𝐩 𝐢𝐬 𝐑𝐄𝐀𝐋! More money comes in and suddenly everything gets upgraded: bigger house, newer car, more vacations, more eating out. Your income doubled, but somehow you’re STILL broke. 𝐂𝐨𝐧𝐠𝐫𝐚𝐭𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬—𝐲𝐨𝐮 𝐮𝐩𝐠𝐫𝐚𝐝𝐞𝐝 𝐲𝐨𝐮𝐫 𝐛𝐫𝐨𝐤𝐞! 😂 Before you can 𝐠𝐞𝐭 𝐨𝐮𝐭 𝐨𝐟 𝐝𝐞𝐛𝐭, 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐆𝐞𝐭 𝐎𝐮𝐭 𝐨𝐟 𝐃𝐮𝐦𝐛! Stop doing shit that keeps setting you back financially. Budget. Save. Pay off debt. Invest. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐲𝐨𝐮𝐫 𝐢𝐧𝐜𝐨𝐦𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐟𝐨𝐨𝐥𝐢𝐬𝐡𝐧𝐞𝐬𝐬. 📈 Get serious about your money. 𝐌𝐨𝐫𝐞 𝐦𝐨𝐧𝐞𝐲 𝐰𝐨𝐧’𝐭 𝐟𝐢𝐱 𝐛𝐚𝐝 𝐦𝐨𝐧𝐞𝐲 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐫! 𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #GetOutOfDumb #GetAGripOnYourMoney #MoneyHabits #LifestyleCreep #TheCarrReport #MoneyCoach

  8. 3d ago

    💰 𝐂𝐀𝐍 𝐘𝐎𝐔 𝐇𝐀𝐕𝐄 𝐀 𝟒𝟎𝟏(𝐤) 𝐀𝐍𝐃 𝐀𝐍 𝐈𝐑𝐀? 𝐘𝐄𝐒!

    A workplace retirement plan does not block IRA contributions. You can fund both—but income affects your tax benefits. For 2026, Traditional IRA deductions phase out at  $𝟖𝟏,𝟎𝟎𝟎–$𝟗𝟏,𝟎𝟎𝟎 𝐟𝐨𝐫 𝐬𝐢𝐧𝐠𝐥𝐞𝐬 𝐚𝐧𝐝 $𝟏𝟐𝟗,𝟎𝟎𝟎–$𝟏𝟒𝟗,𝟎𝟎𝟎 𝐟𝐨𝐫 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐦𝐚𝐫𝐫𝐢𝐞𝐝 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐨𝐫𝐬. If only your spouse is covered, your deduction phases out at  $𝟐𝟒𝟐,𝟎𝟎𝟎–$𝟐𝟓𝟐,𝟎𝟎𝟎. No deduction? You may still contribute—just file Form 8606 to prevent double taxation. 📈  𝐓𝐡𝐞 𝐂𝐚𝐫𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐜𝐞 𝐘𝐨𝐮 𝐂𝐚𝐧 𝐁𝐚𝐧𝐤 𝐎𝐧! 𝐍𝐞𝐞𝐝 𝐚 𝐌𝐨𝐧𝐞𝐲 𝐂𝐨𝐚𝐜𝐡 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐆𝐞𝐭 𝐀 𝐆𝐫𝐢𝐩 𝐎𝐧 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲? 𝐇𝐢𝐭 𝐦𝐞 𝐮𝐩! ✍🏾 Damon Carr, Financial Planner, Money Coach, Tax Pro & Real Talk Specialist. #RetirementPlanning #IRA #401k

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Financial Planner, Money Coach, Tax Pro Personal Finance Journalist Damon Carr Helps Everyday People Get A Grip On Their Money. In this Podcast Damon will delve into articles he’s written in his Personal Finance Column “The Carr Report” and “Ask Damon” E-Newsletter and he’ll discuss Trending Topics in the news about money

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