Posts Categorized: Retirement
529 Plan – What are Qualified Expenses?
The main tax advantage of a 529 Plan (in a state-sponsored college savings plan) is that distributions for qualified expenses are tax-free. In other words, contributions grow tax-free and earnings won’t be taxed when withdrawn for QUALIFIED EXPENSES. In certain states, you may also benefit from ...READ MORE
The Intersection of Health and Wealth (or, how well you live has a direct impact on how well you do!)
This time of year, many resolutions focus on improving personal finances. A good financial plan is about your goals and dreams. But is it also about your health? In a recent blog post on the Forbes.com website, our friend and fellow financial planner (who also happens to be a medical doctor) Ca...READ MORE
Financial Planning for Women – Part 2 (Social Security)
In my previous blog post, Financial Planning for Women – Part 1, I talked about how women will generally live longer than their male counterparts, with less in their portfolio later in life, and with less loved ones available to take care of them. In this post, we look at Social Security and discu...READ MORE
What The Tax Bill Means To You
Now that the new tax bill has been formally ratified by the U.S. House and Senate, the Tax Cuts and Jobs Act of 2017 will be sent to the President’s desk in the next few days. As you probably know, the House and Senate versions were somewhat different and you may be wondering: What does the fina...READ MORE
’Tis the Season (for Financial Planning)
The period between Thanksgiving and the end-of-year holiday season would seem like a sleepy time for financial planners but in fact, it is anything but! You might be surprised at how much financial planning activity takes place on your behalf in the final month of the year. For instance? Even...READ MORE
What is a Step-Up in Basis? Why should I Care about it?
(get ready for a whirlwind tax lesson!) A basis step-up is one of the basic concepts of estate planning. When a person dies, we say that their assets get a “step-up” in basis. Basis is short-hand for “income tax basis,” “tax basis,” or “cost basis” and is often shortened simply to...READ MORE
Happiness in Retirement
One of the great transitions in many people’s lives is going from employment to retirement. Between pursuing old or newly found passions, babysitting the grandchildren, traveling, or volunteering, many of our retired clients are now busier than they were during their working years! However, aft...READ MORE
Making a Homeowner’s Claim
Suppose you’re the victim of a huge natural disaster like Harvey, or have experienced some more local damage, like a tree falling on your house. What are the best practices for filing a claim for the damages your home and property have suffered? Recently, the Consumer Federation of America of...READ MORE
Benefits of a Professional Fiduciary
Family strife when a family member dies is a sad and often tragic thing. Yes, when funds are short, but I want to talk here about when the funds are plenty but the emotions of greed and fear get involved, or pride and even criminal behavior rear their ugly heads. What could a good parent do to h...READ MORE
Are you old? Should there be a new term used?
Should today’s 70-year-old American be considered “old”? How do you define that term these days? Statistically, your average 70-year-old has just a 2% chance of dying within a year. The estimated upper limit of average life expectancy is now 97, and a rapidly growing number of 70-year-ol...READ MORE