As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon. But time has a way of flying by, and you realize that maybe you are not saving nearly enough for retirement as […]
6 Telltale Signs You’re Not Saving Enough for Retirement Read More »
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 »
As 2026 approaches, the financial and legal communities are abuzz with discussions about the imminent sunset of the 2017 Tax Cuts and Jobs Act. For many, this translates to pressing changes affecting their estate plans.
Crucial Estate Planning Steps Before It’s Too Late Read More »
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.
A Guide to Investing in an Election Year Read More »
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.
A Tax Planning Guide for High-Net-Worth Retirees Read More »
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 »
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.
Taxable and Tax-Free Bonds Read More »
One of the fastest-growing trends among investors is to align your portfolio with your values. This movement gave rise to a concept known as environmental, social, and governance (“ESG”) investing, which is sometimes referred to as socially conscious or sustainable investing.
Navigating Socially Conscious Investing: A Guide for Investors Read More »
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 »
Being a high earner not rich yet (HENRY) may come with financial challenges. When coupled with the responsibility of raising a child with developmental disabilities, you might need thoughtful financial planning even more. Here are a few strategies that may help you save for retirement while managing your child’s well-being.
Retirement Savings While Raising a Child with Developmental Disabilities Read More »
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