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Tuesday, January 14, 2020

The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also...

Tuesday, January 7, 2020

Selecting a filing status is one of the first decisions you'll make when you fill out your federal income tax return, so it's important to know the rules. And because you may have more than one option, you need to know the advantages...

Saturday, December 28, 2019

Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals...

Thursday, December 19, 2019

You might assume it’s safer to keep your personal details—especially your Social Security number—off the internet. Actually, setting up a my Social Security account is an important step toward protecting your benefits...

Wednesday, December 11, 2019

What if you or your spouse lives to a very ripe old age – to 90, 95, or even 100? The key to having enough income in your old age is to maximize the higher-earning spouse’s benefit. This can be done by having the...

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Friday, December 6, 2019

What do people fear the most in retirement? Outliving their income. And what variable has the largest impact on whether or not they will outlive their income? Life expectancy. Your ability to successfully plan for retirement is largely...

Wednesday, November 27, 2019

You may have your records organized in a way that works for you, but imagine what your loved ones would face if you weren’t around to show them where everything is. This is why an important part of legacy planning is organizing...

Thursday, November 21, 2019

Whether it’s sports, taxes or life, we’re programmed to avoid penalties, and usually that’s a good move. Occasionally, however, by simply avoiding penalties, we can be detrimental to ourselves. Indeed, sometimes...

Friday, November 15, 2019

Though the Patient Protection and Affordable Care Act (PPACA) faces an uncertain future, Obamacare remains the law of the land for the time being. The continued existence of the law has important implications for the uninsured, small...

Thursday, November 7, 2019

The Tax Cuts and Jobs Act has brought the biggest tax overhaul in 30 years and has left many with questions. It’s important that you understand how the elimination of deductions, compression of tax rates, and brand new benefits...

Tuesday, October 22, 2019

Because you've worked hard to create a secure and comfortable lifestyle for your family and loved ones, you'll want to ensure that you have a sound financial plan that includes trust and estate planning. With some forethought, you may...

Tuesday, October 15, 2019

Woe to the taxpayer who runs afoul of the numerous and confusing IRA rules. There are forms to file, contributions to make, distributions to take, and penalties to avoid. While corrections are possible, it’s best to avoid...

Tuesday, October 8, 2019

Roth 401(k)s and Roth IRAs share the ultimate goal of tax-freedistributions of earnings, but they are governed by different rulesalong the way. This side-by-side comparison can help determinewhich vehicle suits your needs best. Roth...

Tuesday, October 1, 2019

In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of yourtime, but several other factors are also relevant in determining your principal residence. Many of the...

Tuesday, September 17, 2019

There's no doubt about it--owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the...

Tuesday, September 10, 2019

A brief history 529 plans were created by Congress in 1996 and have been modified through the years by various pieces of legislation. Known officially as "qualified tuition programs" or QTPs, 529 plans are so named because they are...

Tuesday, September 3, 2019

As more Americans shoulder the responsibility of funding their own retirement, many rely increasingly on their 401(k) retirement plans to provide the means to pursue their investment goals. That's because 401(k) plans offer a variety...

Monday, August 26, 2019

Financial planning is more than just a good idea. Research has consistently shown that people who have financial plans -- and who work with financial advisors -- save and invest far more and are nearly twice as likely to feel on track...

Thursday, June 13, 2019

Ancient Chinese merchants are said to have developed a unique way to manage their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a...