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  Tax Refunds Aren't Found Money: Evaluating Your Income Tax Withholding Rate
Have you ever put on a coat you haven’t worn for a while, reached into the pocket and found a dollar bill that you’d forgotten about? There’s something exciting about finding lost money. A lot of people react the same way when they file their income tax return and discover they’ll get a refund.

But receiving a large income tax refund means the government has been holding on to a significant portion of your money – money you could be using to pay down debt or invest for a loved one’s education or your own retirement. The goal is to reach tax time receiving only a small refund or owing just a little in taxes. To attain that goal, make sure you’re not having too much or too little money withheld from your paycheck for taxes.

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  How Did You Spend Your 2005 Income Tax Refund?
Let CFP Board know how you spent your 2005 income tax refund. After you have completed the survey, take a look at how you compare to others who answered this question. 

Take our Survey

  New Retirement Models to Replace the Impossible
It is difficult to turn on the TV, open a newspaper or surf the Web without encountering stern warnings that most of us will run out of money early into (if not before) the decades of retirement we envision. What seems apparent is that (a) Americans are not saving enough to support their vision of retirement and (b) despite all the warnings, things are getting worse. So what does this mean we need to do? Basically we need to stop expecting the impossible and set the bar lower. We need to create new retirement models that are not as expensive as the ones most people currently contemplate. When grocery money in retirement is the goal, we should all prefer the possible.  

Do you work for an employer who has come up with creative ways to assist workers who are approaching retirement? Have you come up with a plan to reduce the length or cost of your own retirement? Send your stories and insights to CFP Board at mail@cfpboard.org

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  Profile: The Money Camp
You’ve heard of summer camps full of crafts, campfires and horseback riding. You’ve heard of summer camps to help turn troubled kids around and boot camps for weight loss. Now there are camps designed to help children and adults improve their financial literacy. The Money Camp, a non-profit organization founded in 2002, is one of these new programs providing camping experiences to people who want to learn more about handling money. Both kids and adults can attend The Money Camp’s programs to learn practical money management skills and participate in activities that will change their beliefs and attitudes about money in a positive way.  

Elisabeth Donati, Executive Director of The Money Camp, will speak about The Money Camp’s programs and successes at CFP Board’s 2006 Annual Meeting on Friday, August 4, 2006, at the Los Angeles Convention Center. Read more about CFP Board’s Annual Meeting and register online at: www.CFP.net/learn/annualmeeting.asp.

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  About This eNewsletter
  You are receiving this e-mail because you subscribed to CFP Board's eNewsletter. Periodically, CFP Board will e-mail you "It's Your Turn," which includes information about financial planning, consumer alerts, financial planning tools and resources and much more. Suggestions and feedback are welcome at mail@CFP-Board.org.

 
 
   
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Last modified: August 18, 2009

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