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At Pharr Financial, we understand that planning for retirement can feel overwhelming, but with the right guidance, it doesn’t have to be. Our team of financial experts is dedicated to helping you take control of your future with a tailored... Read More →

How to make the most of a Roth IRA conversion.  A Roth IRA conversion may be right for you if you have a year where either your taxable income is lower than normal or your income is too high to... Read More →

Here’s how you can save big money:

How a Roth IRA for kids works Yes, children are eligible to have their own Roth IRA, and the IRS rules governing these accounts are similar to those for adults. For 2024, individuals under age 50 can contribute up to... Read More →

Discover How HSAs Can Enhance Your Retirement Planning Tax-Efficiently Health savings accounts (HSAs) are commonly known for covering healthcare costs with pre-tax dollars. However, this tax-efficient savings option can also serve as a valuable tool for retirement savings. An HSA... Read More →

The Roth IRA is highly regarded as a retirement savings account. While contributions are made with after-tax dollars, Roth IRAs allow for tax-free withdrawals of both contributions and earnings in retirement, provided the account holder is at least 59½ years... Read More →

Assessing and Managing Your Risk Tolerance: Strategies for Avoidance, Management, and Transfer Every day, individuals encounter various risks in their routines, such as commuting to work or running errands. The act of driving, for instance, presents a significant risk of... Read More →

The Internal Revenue Service is reminding taxpayers that implementing energy-efficient upgrades in their homes may make them eligible for valuable home energy credits. These credits, which were broadened under the Inflation Reduction Act of 2022, encompass various types of qualifying... Read More →

Maximize Savings with a Summer Tax Checkup After finishing your 2023 taxes, you might feel a sense of relief and think you can postpone thinking about filing for the 2024 tax year until much later. However, as summer approaches, it’s... Read More →

Consider These Easy Steps That Can Can Boost Your Year-End Performance Many people share concerns about the economy, especially with ongoing challenges such as high inflation rates, continued high interest rates, and an upcoming presidential election. Despite these economic uncertainties,... Read More →