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Understanding Qualified Higher Education Expenses for Your 529 Plan We wanted to address some common questions regarding what qualifies as “Qualified Higher Education Expenses” for distributions from a 529 Plan. Understanding these guidelines is crucial to ensuring that you maximize the benefits of your 529 Plan. Allowable Expenses The following expenses are generally eligible…
In today’s world, it’s important to plan your finances wisely. Creative charitable giving strategies, such as Qualified Charitable Distributions (QCDs) are a way to increase your charitable impact while reducing potential taxes. What’s a Qualified Charitable Distribution (QCD)? It’s a direct transfer from your IRA to a qualified charity that counts towards the money you’re…
Losing a loved one brings a flood of emotions that can make tasks like managing financial obligations feel overwhelming. This checklist is designed to help you stay organized during this challenging time. Please feel free to share it with others who may need support as well. Remember, you don’t have to navigate this journey alone.…
Required minimum distributions (RMDs) can be quite burdensome. The IRS mandates withdrawals from your retirement accounts, even if you don’t need the funds, potentially pushing you into a higher tax bracket. However, there are strategies to mitigate your RMD tax burden. Withdraw Early from Your IRA Taking larger distributions in the early years of retirement…
We are pleased to bring you the latest update on tax deferral strategies and regulations that may impact your financial planning. In this ever-evolving landscape, staying informed about changes in tax laws is crucial for making informed decisions and optimizing your tax position. Our update aims to provide you with key insights and updates on…
Regardless of if you are wary or optimistic, we believe planning provides our clients, at any stage of life, the confidence to face life’s uncertainties. Through our Strategic Pathways Process you have a proven financial roadmap, completely personalized to guide you as your life and needs evolve. If you or someone you know could…
Through planning, money becomes a tool to help you live the life you want. Accumulating as much wealth as possible is no longer the primary objective of your financial plan. The traditional path to saving and investing has been to focus on the future (retirement) and rely solely on numbers and return on investment (ROI).…
Series I Bonds Providing a 9.62% Annualized Yield As inflation has pushed higher, Series I bonds which are tied to inflation have garnered headlines. Here is what you need to know. I Bonds are backed by the U.S. Government, they will not lose value and they pay interest in two parts, a fixed rate and…
Retirement Savings Checkpoints As we embark into summer and head out on your annual summer vacation, you may find yourself envisioning the relaxation of your retirement years. Here is a guide on how much you should have in retirement savings based upon your age, family income and maintaining that lifestyle throughout retirement. Fee-based planning offered…
The stock market has provided fairly consistent growth over the past decade and as high inflation, rising interest rates and the war in Ukraine continue to disrupt markets, it’s easy for investors to ask, “Will the market ever go up again?” The Federal Reserve has begun to raise short-term interest rates and have signaled that…