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Danielle Nava

Danielle Granger Nava, CFP® is a Wealth Advisor and co-owner and VP of Generation Wealth, a family-owned wealth management firm that specializes in comprehensive financial planning for women executives, modern entrepreneurs, and families of all generations.

Empowering Your Legacy: How to Create a Charitable Giving Plan

People give for a variety of reasons, and philanthropy has the potential to provide cognitive, emotional, and financial benefits to those who donate. Some find personal satisfaction in helping to improve their communities, while others take a broader approach to tackling global concerns. The goal is exploring and participating in missions that share the values you and your family hold dear.

Empowering Your Legacy: How to Create a Charitable Giving Plan Read More »

Overcoming FAFSA Delays: Take Control of Your College Choices

Choosing the right college to attend after all those years of hard work in high school is stressful enough. Still, as life does, many students were thrown a bit of a curve ball as delays with this year’s FAFSA financial aid offers has temporarily prevented them from taking the next step in their educational future. It is frustrating, but the federal government is working to rectify the problem. The delays were due to the time it took to roll out the changes instituted with the FAFSA Simplification Act. Many college admissions offices altered and extended their timelines to allow students time to receive and make decisions based on their offers.

Overcoming FAFSA Delays: Take Control of Your College Choices Read More »

A Guide to Investing in an Election Year

Election years create a certain level of uncertainty regarding your finances and investments. During continued market volatility, an imminent election can make investors tense. But don’t get too caught up in everything you read and hear without doing your own research. When it comes to elections and investing, surprisingly, there isn’t much of correlation. All followers of political parties believe their party plays a crucial role in the nation’s economic health. But is that really accurate? Is panicking unfounded and potentially financially damaging to an investor’s financial goals? Here are a few things to keep in mind to help you preserve your financial interests as an election approaches.

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A Tax Planning Guide for High-Net-Worth Retirees

Tax planning is an essential aspect of financial management, especially for individuals who have accumulated substantial wealth over their lifetime. High-net-worth (HNW) retirees, in particular, need to pay special attention to their tax planning strategies. Planning for taxes can help them address retirement income and leave a significant legacy for their descendants with decreased concern for tax consequences.

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Is a 529 to Roth IRA Rollover Right for You? Here’s What You Need to Know

If you have a 529 education savings plan, it can now be converted to a Roth IRA. Both plans are funded by after-tax money. Initially, the money put into a 529 plan had to be used toward education expenses. If, for whatever reason, the money wasn’t needed for educational expenses and it was withdrawn for other purposes, you would be subject to a penalty and capital gains taxes. That is not the case anymore. After the passage of the SECURE Act 2.0, 529 plan account owners or beneficiaries can roll over 529 funds into a beneficiary-owned Roth IRA tax-free and penalty-free. Meaning, if you put money into the 529 plan and your child receives a scholarship or doesn’t attend school, the leftover money can now be rolled over into a Roth IRA.

Is a 529 to Roth IRA Rollover Right for You? Here’s What You Need to Know Read More »

Taxable and Tax-Free Bonds

Unlike corporate bonds, some bonds offer investors a tax exemption that depends on who issues the bond. In general, tax-exempt bonds fall into two categories: securities issued by the U.S. Treasury and municipal bonds (or munis), which are issued by state and local governments. The income from Treasury securities is exempt from state and local taxes but not from federal taxes. However, when investors refer to tax-exempt bonds, they are often referring to municipal bonds which are generally exempt from federal income tax (though specific issues may be taxable). Munis also may be exempt from state and local taxes for investors who live in the state in which the bond is issued, though regulations vary from state to state.

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2024 Tax Brackets: How They Could Increase Your Take-Home Pay

As people settle into the New Year, some may notice a slightly larger paycheck deposited into their account. The Internal Revenue Service (IRS) implemented new federal income tax brackets, allowing some Americans to keep more of their income instead of handing it over to the government. Brackets were adjusted 5.4% higher for married and individual

2024 Tax Brackets: How They Could Increase Your Take-Home Pay Read More »

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