2023 is rapidly coming to a close and with it there are things you can be doing right now to make smart moves with your money. We want to lay out some strategies and tips to help you make great year end money moves.
Saving for college education is a top priority for many families, but the uncertainty surrounding the cost of education and the future plans of the beneficiary can make it a challenging endeavor. That's where 529 plans come into play. A 529 plan is a tax-advantaged investment account designed to help families save money for a child's education. However, the new rules introduced by the SECURE 2.0 Act in 2024 have expanded the usefulness of these plans by allowing beneficiaries to roll over funds to a Roth IRA. In this article, we will explore the benefits and rules of 529 plans and Roth IRAs, and how these changes can reshape educational and retirement savings strategies.
Health Savings Accounts (HSAs) have become increasingly popular as a tax-advantaged way to save money for medical expenses. With the rising costs of healthcare, it is crucial to have a financial plan that not only covers current expenses but also provides for future needs. We will explore the ins and outs of HSAs, including the recent changes to contribution limits in 2024, the benefits of using HSAs for retirement planning, and how to make the most of these accounts.
New retirees quickly realize that they’ve got much more time to play 18 holes at the country club or book that week-long get-away. And all these additional activities equal more money coming out of your bank account. In fact, we’re finding that many of our clients require closer to 100% of their pre-retirement income for retirement living.
Retirement is a time that many people look forward to. It's a period of relaxation, exploration, and enjoying the fruits of your labor. However, without proper financial planning, retirement can quickly turn into a source of stress and worry. In this article, I will share with you the top 6 methods to safeguard your finances for a worry-free future, ensuring that you achieve financial freedom in retirement.
Retirement is a big deal. In fact, it’s right up there with getting married, buying your first home, or having a baby. And as it is with any major life change, a bit of forethought and planning can go a really long way with helping you get the best out of your golden years. So let’s discuss retirement planning. Specifically, I want you to think about your retirement in two major “buckets”.