Thanks to the Tax Cuts and Jobs Act of 2017, Section 529 plan savings may now be used for K-12 tuition as well as for higher education costs.
What’s on your end-of-the-year to-do list? Shopping for gifts? Making travel plans? What about spending some time with your investments? Conducting a review and making important decisions before 2017 comes to a close may help you lower your tax bill and get your portfolio on the right track for 2018.
Now that my husband and I have entered the ‘empty nest’ population we are taking a good look at our finances and realize it may be time to start cutting the “money cord” with our adult children. We have successfully raised our boys…. which you all know is NOT cheap…we’ve bought them cars, put them through college….now we feel it’s our turn. Here is what I have learned (and am still learning)…. (more…)
Where and how you choose to live out your retirement years could be one of your most important decisions. Choosing whether to relocate or to stay rooted in your hometown, to remain in your current home or to trade down to a smaller residence are important questions that involve a host of lifestyle and cost-of-living issues. (more…)
Whether you’re wealthy or earn a modest income, there is one estate planning concern that is shared by people from all walks of life — the decision of who gets what when you’re gone. While some individuals may logically assume that a last will and testament is the one official forum to express such decisions, that’s not always the case. Often, an equally important issue is whom to name as beneficiary on life insurance policies, pension plan accounts and IRAs, since these assets are passed on independent of what may be spelled out in a will.
Owning company stock in your employer-sponsored retirement plan is not necessarily a bad thing. Company stock can potentially help employees profit from a company’s success and even provide tax benefits. But holding company stock can present unique risks, particularly if the stock allocation represents a large percentage of your total retirement plan assets. (more…)