Financial Planning

We regularly get questions from clients about how they can help provide college funding for their kids or their grandkids. One of our favorite mechanisms for future savings for college is the 529 savings plan. With nearly a quarter of a trillion dollars invested in these plans, Americans are increasingly using it as a tool to save for future educational needs. The original idea behind a 529 plan is to allow families to save for college costs with tax-deferred earnings…

Are you looking to hire a financial advisor who can help you achieve your financial goals? Conducting a successful interview is crucial in finding the right candidate for the job. To help you make the most of the interview process, we have compiled a list of the top 10 must-ask questions for a successful financial advisor interview. The Role of a Financial Advisor A financial advisor is a professional who offers financial guidance to clients based on their individual needs…

As tax time comes around each year, clients often ask us, “can I still make an IRA/ Roth IRA contribution for last year?” The good news is if it is before the tax filing deadline (i.e., April 15, 2024 for the 2023 tax year), yes, you might be able to. Who can make a retroactive IRA or Roth IRA contribution? Roth IRA contribution eligibility is determined by your Modified Adjusted Gross Income (MAGI) and your age. Traditional IRA contribution eligibility…

In today’s ever-changing financial landscape, the need for effective risk management has become more crucial than ever. It’s not just about making smart investment decisions; it’s about protecting your hard-earned money from unexpected market fluctuations, economic downturns, and unforeseen events. In this guide, we will explore the three essential risks to consider so you can be better prepared to navigate the complex world of finance. 3 Types of Financial Risk There are 3 main things to be aware of when…

Just like getting the oil changed in your car on a regular basis, it’s a good idea to check on your financial house to be sure everything is in order. Here are a few items to review every year to be sure they are working in your favor: Personal spending plan – if you are not following a spending plan yet, create one and follow it. Cash flow is the cornerstone of achieving financial goals such as retirement and funding…