For retirees that wish to truly enjoy their retirement but still want to provide a legacy, setting priorities and finding a balance will be key. Most would agree that ensuring one's stability in retirement should be the top priority. The first step to ensuring you can enjoy retirement is to make sure you have enough money saved in the right type of accounts to make this happen.
Springtime is here! Spring brings a sense of renewal and optimism after the long dreary winter months. As the warmer weather moves in, we tend to find ourselves feeling more motivated, ready to clear out the old and bring in the new! Spring cleaning is a popular tradition for many, as it provides a chance to clear out any stagnant clutter and stale air. We kick off the season with scrubbing, organizing, and decluttering all of the physical aspects of our home and lives. This year, in addition to tidying up your home and other physical aspects of your life, why not do the same for your finances?
Two things in life are certain: death and taxes, but have you ever considered the impact your death has on the taxability of your assets? Depending on how you are saving, you could potentially be passing a tax burden onto your heirs.
"It’s no secret that student loan debt is a major problem in this country. Many individuals in the generation that is now having babies and raising children are still paying down student loan debt. As a result, parents and grandparents are thinking more proactively about saving and planning for college expenses. Here are my favorite three strategies to save for college expenses."
In my opinion, QCDs are one of the most underutilized tax strategies around today. This is especially true with the new tax law. Those who qualify and are already giving to charity often get significant tax savings with little-to-no downside by utilizing them. In this article, I will go through some basics of QCDs and three ways they can save a taxpayer's money.
By Brandon Carter, CFP®, CIMA®, ChFC®, AEP®, MSFS