This post is in partnership with Foster Victor Wealth Advisors.

It's nearly October, which means we're all trying to save for that perfect Christmas gift or mentally prepping our finances for 2018. Foster Victor, a wealth management firm in Greenville, knows you likely have money on your mind + wants to provide answers to some finance questions you may have.

Did you know you can max out your annual social security tax liability? W2 employees pay social security taxes of 6.2% on dollars earned up to $127,000 (1099 employees and self-employed folks pay 12.4%). If you reach that threshold, any further earnings aren't subject to the social security tax – in other words, you'll find yourself with some extra money.

Foster Victor's suggestion: Increase your 401k contribution by 6.2%. Make up for the tax savings by re-directing your extra income toward your retirement plan – pretend the cap doesn't exist and just send the amount you've been paying to another account. Or increase a debt payment by 6.2%, which can help you pay it off faster without even missing that money.

The fun options: treat yourself (always) or make a charitable donation. If all else fails, adding a little extra to your savings never hurts – think emergency money, college funds, and island vacations.

If you're pretty new in your career and don't want know where to start saving for retirement (because it seems so far off) it might be time to think about a Roth IRA.

Here's what you need to know about a Roth IRA:

All funds grow tax-free.
It's a long-term savings plan – you won't be able to access the account until age 59 1/2.
The funds can be used for college education but not for repaying student loans.
It will help control future taxes in retirement.
There's an annual contribution limit – currently, it's $5,500.

With Roth IRAs, Foster Victor says it's also important to remember that if your company has a retirement plan that matches your contributions, you should make sure you're contributing enough to get the entire match. From there, use your extra money to fund a Roth IRA – but always take the extra money. Sounds like a solid pro tip to us.