The Best Financial Opportunities 2014 will Bring

financialEach new year provides a change to take control of one’s finances. There are many opportunities to improve personal finances for those who are ready and willing to take advantage. 2014 is no different in this regard. Here are some opportunities that might be a great idea to improve finances.

Roth IRAs

The best money is tax-free money. Roth IRAs provide just such an opportunity. While those who open a Roth will have to pay taxes up front, they will not have to pay taxes on any earnings thereafter as long as they are left in the account until age 59 1/2. Those under 50 years old can save up to $5,500 per year, and until April 15, these contributions can go toward 2013 savings. Those who start early can wind up with a substantial nest egg for retirement, and this is a great opportunity that should not be passed by.


Few people think that a high-deductible health insurance plan is a great thing, but it can actually wind up being a big financial opportunity. Health Savings Accounts, also known as HSAs allow employers and employees to contribute into a savings account that can be utilized for health-related expenses. Those who do not use up all of the money in the account can then roll the money over year after year. Any money that has accumulated at age 65 can then be used for any purpose, and these funds can be helpful during retirement. The best part about these accounts are related to their tax-free status.

Low Interest Rates

Interest rates are still near record lows. 2014 is a good year to borrow for a home or a vehicle. Those who are looking to buy or build new homes in Huntsville should be able to lock in a rate well under 5 percent per year. Those looking to buy a car can even borrow money for as little as 0 percent for shorter loan terms. These rates are hard to pass up when they were well over 6 percent just a few short years ago. It is likely that these rates will go up over the long term, and this fact makes locking in low rates even more imperative. Additionally, those who have credit card debt might want to take advantage of 0 percent balance transfer offers to cut down on interest costs. Avoiding any additions to this credit card debt will help in paying down the debt going forward.


Taking advantage of opportunities when they are available is very important. Those who wait may not be able to benefit from these opportunities in the future. 2014 is definitely the year for individuals and families to take control of their financial situations.

Hannah Whittenly

Hannah Whittenly is a freelance writer from Sacramento, California. A mother of two, Hannah enjoys writing on blogs of all niches. Follow her on Twitter.