Funding a child’s or grandchild’s education costs is a noble goal. Whether you’re paying tuition costs now or saving for the future, it’s important to determine if your education strategy is compatible with achieving your retirement income and related financial objectives. Tax considerations and retirement income needs must be carefully weighed and evaluated before choosing a specific strategy. It’s important to remember that while education expenses can be funded through borrowing, retirement expenses cannot.
Protecting yourself, your loved ones, your home or your business against unexpected events is a fundamental aspect of wealth planning. Adequate planning now can help prevent a lifetime of assets from falling short when you need them most.
Following a solid tax planning strategy throughout the year is an integral part of any financial plan, but there are special considerations to make as the year comes to a close that can help maximize your refund or minimize your liability. Are you taking advantage of the following tax-saving strategies with your return? Maximize Retirement Contributions to Traditional IRAs Far too many taxpayers fail to take advantage of their annual retirement contribution limits and miss...
You’re probably aware that there are many options for retirement planning including 401(k)s, IRAs, Roth IRAs, and more. Some of the more common plans are employer-sponsored ones like 401(k)s, 403(b)s, and 457(b)s. These arrangements have higher contribution limits and let employees save for retirement on a post-tax or a tax-deferred basis, which is more typical. However, as individuals move from job to job or employer to employer, they are faced with decisions about what to...
Intro By now, there’s a good chance that the recent market downturn resulting from the COVID-19 pandemic has left you questioning your investment strategy. In fact, there’s a good chance that you lost a good chunk of change during the rapid sell-offs in early-mid March. But now that the sudden onset of this downturn has passed, it’s time to thoughtfully reevaluate your investing plans in the wake of COVID-19. Don’t Panic Before making plans to...
