Are you contributing to a 529 for your child or grandchild but facing the reality that they may not attend college due to a disability? A relatively simple alternative would be to change the beneficiary of the 529 to another family member and save for your disabled child/grandchild in other ways.... Read More
The Health Savings Account has become quite a popular retirement savings tool because of its triple tax advantage. You can contribute pre-tax dollars, invest the funds while enjoying tax-free growth, and withdraw the funds free of tax if used for qualified medical expenses.... Read More
Naming beneficiaries is a simple, yet impactful, piece of your estate plan. Doing so will bypass whatever is written in your Last Will and Testament or Trust Document, as the asset will transfer directly to the named beneficiaries. ... Read More
According to the recent BMO Real Financial Progress Report, 74% of Americans feel optimistic about their financial situation going into 2024. At the same time, however, nearly half of Americans say their New Year's financial resolutions have changed due to higher living costs. So what's the true story? ... Read More
The other day, I got a notice from my auto insurance provider stating that my premium would rise starting on my renewal date next month. When I took a closer look, I discovered it was close to a 30% increase! After some frantic research, I quickly realized that I wasn’t alone. ... Read More
Millennial consumers have gone from storming their local Barnes and Noble stores when a popular book releases to pre-ordering an eBook on their Kindle. They’ve traded in their flip phones for smartphones and DVDs and CDs for streaming. They’ve lived through world-altering events like 9/11, the 2008 financial crash, and the COVID-19 Pandemic. ... Read More
Accepting a new job is a pivotal moment in your life. While financials might not be on top of your to-do list, it’s important to take some time and strategize. There are a few things you can get a jump start on. ... Read More
Recently we have seen notable changes involving 529 Plans. Those changes relate to naming or changing the account owner and the beneficiary. But now, a 529 plan can help fund Roth IRAs! This means it is more important than ever to understand the impact of titling a 529 Plan. ... Read More
