Grit & Lavender Financial Planning

Grit & Lavender Financial Planning We provide fee-only financial planning advice & investment management to "working class" families, w

Wishing you a joyful holiday season and a prosperous New Year! 🌟As the year draws to a close, we extend our warmest wish...
12/22/2023

Wishing you a joyful holiday season and a prosperous New Year! 🌟

As the year draws to a close, we extend our warmest wishes for a peaceful and happy holiday season. We hope your season is filled with happiness and quality time with loved ones.

Have any fun plans this holiday season? We would love to hear them - share in the comments below ⬇️

It's time for us to put on our Santa hats and make sure we have everything ready for the upcoming tax season 🎅While it m...
12/12/2023

It's time for us to put on our Santa hats and make sure we have everything ready for the upcoming tax season 🎅

While it may seem early, now is a great time to start gathering your tax documents and send them our way before the end of the year 🗓️

So check your list, check it twice! 📝 And don’t worry, we made a list for you to follow as you do! 😉 If you have any questions over the next few months, don’t hesitate to send us a message. That’s what we’re here for!

As the year draws to a close, it's the perfect time to get your finances in tip-top shape! 💰Here are some quick tips to ...
12/08/2023

As the year draws to a close, it's the perfect time to get your finances in tip-top shape! 💰

Here are some quick tips to help you wrap up the year on a strong financial note while taking a break from your bustling holiday gatherings:

📆 Reflect on your financial goals: Consider where you could improve financially and develop 2024 goals based on this reflection. Some common ones: saving more for retirement, tackling debt, or building an emergency fund.

💸 Analyze your expenses: Review your past year's spending, use budgeting software to give you a clear snapshot of your expenses, and pinpoint areas for cost-cutting to craft a better budget for 2024.

💼 Supercharge your retirement savings: If you have the financial means, you may want to consider boosting your retirement contributions for lower taxes and a more secure financial future.

📝 Tax-saving strategies: Explore tax deductions, and consider year-end charitable donations to reduce your tax bill. Remember, it’s always a good idea to consult a tax advisor for personalized guidance.

🧾 Prep for tax season: Get organized! Collect financial and tax documents for a smoother tax-filing process and stay updated on tax law changes.

🏡 Check your insurance: Review your insurance policies (health, home, auto, and life) and adjust coverage to avoid unnecessary costs.

Ultimately, financial health is a journey, not a destination. Regular monitoring and adjustments are key! 💪

Have any other financial wellness tips to add to the list? Drop them in the comments!

Whether you are celebrating holidays or simply taking some time to slow down, we hope you’re getting in some rest and qu...
12/01/2023

Whether you are celebrating holidays or simply taking some time to slow down, we hope you’re getting in some rest and quality time with family ☕

What is your favorite part about winter? We’d love to hear 😊 Let us know in the comments below!

Happy National Neighbor Day! 🌼🏡 Today, we recognize the importance of fostering a sense of community, extending a helpin...
09/28/2023

Happy National Neighbor Day! 🌼🏡

Today, we recognize the importance of fostering a sense of community, extending a helping hand, and building lasting friendships right at our doorstep 🤝

Whether it's sharing laughs over a backyard barbecue, lending a hand during a time of need, or simply exchanging friendly waves and warm greetings, these small gestures create a sense of belonging 🙌🏽

Remember, strong communities are built on the foundation of caring neighbors. Let's embrace the spirit of National Neighbor Day and make a positive difference in the lives of those who live nearby.

Tag your neighbors to let them know how much you appreciate them! 💕

The market is still going ⬆️ and ⬇️, which means you may be experiencing losses. But what’s the difference between a pap...
09/26/2023

The market is still going ⬆️ and ⬇️, which means you may be experiencing losses. But what’s the difference between a paper loss and an actual loss? Here’s a quick review:

🟢 Paper Loss: You have an investment, but it’s worth less today than you originally paid for it.

🟢 Actual Loss: You had an investment and sold it for a lower price than you originally paid.

The key is that you can only get an actual loss if you sell. If the actual loss was housed in a taxable account (an account set up for trading stocks, bonds, ETFs, and index funds), you might be able to claim a deduction up to $3,000 per year!

This stuff is tricky, which is why we’re here to help. Reach out anytime.

Did you know it’s been exactly 41 years today since we first met the ambitious and witty Alex P. Keaton? That’s right! O...
09/22/2023

Did you know it’s been exactly 41 years today since we first met the ambitious and witty Alex P. Keaton?

That’s right! On September 22, 1982, the iconic sitcom 'Family Ties' premiered, capturing the hearts of audiences with the lovable Keaton family and launching Michael J. Fox into stardom. 📺❤️

Micheal continues to impact the world today through his foundation, The Michael J. Fox Foundation for Parkinson’s Research. Learn more here about his work to accelerate the next generation of Parkinson’s disease treatments: https://www.michaeljfox.org/.

Happy National Read a Book Day! 🎉Whether you prefer losing yourself in captivating stories, expanding your knowledge wit...
09/06/2023

Happy National Read a Book Day! 🎉

Whether you prefer losing yourself in captivating stories, expanding your knowledge with non-fiction, or exploring new worlds through the pages, today is the perfect opportunity to immerse yourself in a good book 📖

Let's all share our current reads, favorite book quotes, and recommendations in the comments below! 📚💬

Considering transitioning to a four-day workweek? 🤔 Here are some pros and cons to consider before making a decision:Pro...
09/05/2023

Considering transitioning to a four-day workweek? 🤔 Here are some pros and cons to consider before making a decision:

Pros:
💰 Decreased overhead costs
🏃‍♀️ Increased productivity and efficiency
😃 Happier employees with more downtime

Cons:
📅 Scheduling issues for meetings and availability
😴 Potential burnout for some employees (fewer hours to complete tasks)
👎 Decreased customer satisfaction due to non-traditional business hours

What are your thoughts on a four-day workweek? Comment below! 💬

As we honor the contributions of workers and pause for a little R&R this Labor Day, we want to thank our wonderful clien...
09/04/2023

As we honor the contributions of workers and pause for a little R&R this Labor Day, we want to thank our wonderful clients, colleagues, and professional network for being with us on this journey.

It's because of your trust and support that we’re able to do what we love and make a small difference in the lives of others.

Once again, thank you — and Happy Labor Day to you all ❤️ 🤍 💙

Happy Labor Day – or as our furry friends would say, Happy Monday 🐾We hope all of you can take some time to relax, wheth...
09/04/2023

Happy Labor Day – or as our furry friends would say, Happy Monday 🐾

We hope all of you can take some time to relax, whether it’s in the form of cat naps or some dog-gone good Labor Day deals!

✏️ Adjusted Gross Income (AGI): An AGI is a person’s taxable income with certain deductions subtracted. The IRS uses you...
08/29/2023

✏️ Adjusted Gross Income (AGI): An AGI is a person’s taxable income with certain deductions subtracted. The IRS uses your AGI to see if you qualify for specific tax credits or deductions.
✏️ Cost basis: This is what you originally paid for an asset. Example: you bought $500 in stock one day back in October, so $500 is your cost basis.
✏️ Earned Income Tax Credit (EITC): EITC is a refundable tax credit that gives financial assistance to taxpayers with low to moderate income.

We hope that these quick definitions of some of the most “taxing” terms were helpful! Are there other terms or phrases you want explained? Let us know in the comments!

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211 N. First Street Ste 200
Brighton, MI
48116

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Tuesday 9am - 5pm
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Thursday 9am - 4pm
Friday 9am - 5pm

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