The 529 Savings Plan, a tax-efficient way to pay for tuition from preschool through graduate school, benefits the plan’s owner as well as its beneficiary. However, state laws complicate their use because 529 regulations vary from state to state. Complications aside, most parents, grandparents, aunts and uncles agree with Benjamin Franklin who astutely observed, “An investment in knowledge pays the best interest.”
Category: Blog 2018
Recent tax reforms cleared the way for individuals and families to support the causes they believe in while potentially minimizing their taxes. However, this new approach has a few twists that require a bit of explanation regarding how “stacking” deductions work.
With news from the White House and Congress peppering the landscape continually, and the media covering midterm elections that historically might have gotten much less attention, investors are likely wondering, “Will the outcome of the midterms—whatever it is—influence my portfolio?”
The incidence of “gray divorces,” when couples over 50 years of age decide to go their separate ways, has doubled in the last 25 years. During that same period, divorce among partners who are 65 or older tripled. Growing old together may be overstated.
Should I Maintain Life Insurance on My Ex-Spouse? How Much Should I Purchase and How Do I Make Sure it Stays in Place?
The primary purpose of life insurance is to fill a financial “gap” that you might face upon the death of someone you depend on financially. While the need for life insurance is generally obvious with a married couple, many people overlook the need for life insurance on an ex-spouse. If you receive alimony and/or child support, life insurance can provide critical protection if your former spouse were to pass away.
John Adams and the founding fathers specifically recommended “illuminations” to celebrate the anniversary of the country’s birth. The official decree calling for fireworks on July 4th was written even before the country was officially formed. Even though fireworks are almost exclusively reserved for these patriotic celebrations, we think you deserve some fireworks of your own – to mark your progress on the path to financial freedom.
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