Ever wonder what the highly trained professionals use to tax plan? Wonder no more! We’ve assembled the ultimate tax guide you can download and reference as you prepare your taxes this year. After all, the more money you can save on taxes, the more money you have for your army of dollar bills, getting you that much closer to reaching your financial goals.

Common Tax Planning Questions We Answer:

• What tax bracket am I in for 2025?
• How much can I contribute to my 401(k) or IRA this year?
• What’s the difference between marginal and effective tax rates?
• When do Roth IRA income phaseouts start in 2025?

What’s Inside the 2025 Tax Guide:

This free downloadable guide provides the essential tax information you need for 2025 tax planning:

• 2025 tax brackets and rates – See taxable income ranges, marginal rates, and tax liability for both Married Filing Jointly and Single filers
• Key tax definitions – Understand marginal tax rate, effective tax rate, and tax liability
• Standard deductions – Know the deduction amounts for your filing status
• Contribution limits – See 2025 limits for 401(k)s, IRAs, HSAs, and other tax-advantaged accounts
• Social Security wage base – Know the 2025 taxable wage limit of $176,100 for Social Security taxes

For more, download your free copy of the 2025 Tax Guide and learn how to legally avoid paying more taxes than you need to.

Ready to dive deeper? Read Money Guy’s Top Tax Planning Strategies to discover our favorite tactics for reducing your lifetime tax bill, and explore our Financial Order of Operations to ensure you’re prioritizing tax-advantaged accounts in the right order.

What exactly does a Financial Mutant look like? We survey our wealth management clients every year to get an idea of the traits that are most common among those that think about money differently and experience financial success. Here are the traits we found to be most common amongst Financial Mutants.

10. They work together with their life (and financial) partner.

89% of those surveyed are married or widowed, and those who are married are on the same page financially as their partner. 84% have accounts jointly titled, 12% have a mixture of both individual accounts and joint accounts, and only 4% have accounts separately titled. Being on the same page as your spouse financially is essential to being a Financial Mutant power couple.

9. More often than not, they attend public schools and universities.

You may be surprised to learn that most of our clients did not attend expensive private schools and universities. The overwhelming majority attended public schools until college, and nearly two-thirds attended public universities if they went to college. This runs counter to the narrative that it is a requirement to spend big on education if you want you or your children to be successful. The data shows that is simply not the case.

8. Financial Mutants are overwhelmingly optimistic.

When it comes to having positive financial behaviors and being successful building wealth, it should be no surprise that being an optimist helps tremendously. 85% of those surveyed said they were optimists, while only 47% of the general population describes themselves as optimistic. Having a positive outlook towards the future is very conducive to wealth-building and good financial habits.

7. Most reached millionaire status at an older age than you might think.

No, the most common age to reach millionaire status isn’t in your 20s or even 30s. 85% of those surveyed reached 7-figure status in their 40s or older. Even for a Financial Mutant, real wealth doesn’t come quickly and easily. It is a long process with many bumps, twists, and turns in the path to wealth. Don’t get discouraged if you don’t feel like you are gaining much traction financially in your 20s and 30s; true wealth takes time, consistency, and patience.

6. They chose the right career path.

The majority of the general population does not work in a field related to their major. The majority of those surveyed, however, do work in a field related to their major. Attending college is very expensive, and choosing the right career path is very important to your financial success. Choosing a field you are passionate about that has good earning potential, while limiting any student loans to less than your expected first year salary out of school, is a great recipe for success.

5. Financial Mutants don’t typically inherit their wealth.

The stereotype of nepo babies who inherit their wealth or only achieve financial success because of their parents simply isn’t true for the majority of millionaires. Our survey found that 80% received no inheritance or less than $25,000. While inheriting money can certainly be a path to wealth, it is not a path to becoming a Financial Mutant.

4. They understand the importance of saving for unexpected emergencies.

Putting money in a savings account for a rainy day isn’t always fun. Your money usually doesn’t grow as fast as money invested for retirement and if you have to use it, you are probably going through a stressful time financially. But building up a solid emergency fund is vital to keeping your financial life on-track and preventing any surprise expenses from derailing your progress. The vast majority of clients surveyed have four months or more saved for emergencies.

3. Financial Mutants have a healthy relationship with debt.

Debt is like a chainsaw: a very useful tool when used properly, but when handled improperly, it can be extremely dangerous. Financial Mutants know how to use debt as a tool. 99% of those surveyed use credit cards, and of those, 97% pay them off in full every single month. 59% of those that took out student loans took out between $10,000 and $50,000, and 77% kept their total student debt load below their first year salary out of college. Knowing how to use debt responsibly is a requirement of being a Financial Mutant and building wealth.

2. They invest in their future.

How can you be a Financial Mutant if you aren’t investing what you need to be for retirement? 83% of those surveyed save 20% or more of their income (or are already retired), and just 3% save under 10%. If you aren’t certain how much you should be investing for retirement, check out our Know Your Number course. The course includes video lessons and interactive tools designed to get to the heart of your “why” and help you break down the numbers to see just what you need to be investing for retirement.

1. They start investing young and understand the value of time.

While we know the majority of Financial Mutants do not reach millionaire status until their 40s or later, they do get serious about money at an early age. The majority start in their 20s, with only 12% not getting serious about their finances until their 40s. Having financial success early in life is not a requirement of being a Financial Mutant, but planning for the future and making good financial decisions is.

Being a “Financial Mutant” is not about your retirement accounts reaching a certain balance or how much money you make. You can be a Financial Mutant at any level of income with any amount of money saved for retirement: it’s about how you think about money, and making smarter money decisions than most of the population. If you could boil what a Financial Mutant is down into one single term it would be deferred gratification, or the ability to sacrifice a little bit today for a more beautiful tomorrow.