Kick-Start Your Child’s Retirement Savings by Rolling Over Unused NYS 529 Plan Assets
With college costs increasing at a rate greater than inflation, investing within a 529 plan offers participants the opportunity to keep up with rising education expenses with some immediate tax savings upon funding. Since there are many unknown factors as to how much your child’s future education expenses will cost, it can be difficult to […]
Changes for Unused Funds from 529 Plans Beginning in 2024
To address investor concerns related to 529 Plan savings going unused, a provision of SECURE ACT 2.0 allows the opportunity to rollover unused 529 education savings into a Roth IRA in the beneficiary’s name, penalty free. As a result, investors should feel a sense of relief about leftover 529 savings that weren’t used for education. […]
Tax planning in turbulent times part 1: the tools of the tax-planning trade
Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome. No wonder people get nervous when there’s lots of talk about higher taxes, but little certainty on what may come of it, and who it might affect. How do we plan […]
Part 4: What Opportunities Have I Missed?
The last part of our “Why to Use a Financial Advisor” series involves missed opportunities. Knowing there are unknowns out there in financial planning is the first step in identifying areas that can be improved. A few examples of common missed items that we optimize for clients are: 529 Savings Plan in NYS – New […]
