Although 529 College Savings Plans seem to be a popular choice for today’s discerning parents and grandparents saving for future education costs, we believe the Coverdell Education Savings Account can be a better alternative for most people. (more…)
When it comes to financial planning, risk management – particularly insurance issues – are one of the most confusing areas that people address. What would be the financial impact on your family if there were a loss of income due to a physical or mental disability?
How do you track the cost basis on investments held in your taxable portfolio? What portfolio accounting method does your broker, custodian or advisor report to you or your CPA? This is a decision that, for some investors, can save thousands of dollars in taxes and ultimately make a significant difference in a portfolio’s after-tax rate of return.
There are a number of indexes that attempt to measure the performance of the financial markets and serve as a gauge of economic activity. The following are descriptions of several of the most common indexes: (more…)
One of the major goals that most people have is to, at some point, be debt free. This is a goal that we (Chip and Erin) strive for in our personal lives and we highly encourage our clients to prudently consider as well. In fact, research has consistently shown that people with manageable debt levels tend to be happier than those who are burdened with a high debt load. (more…)
Parents have many different options when it comes to saving for their children’s educations. There are UTMAs, savings bonds, Roth IRAs, Coverdell Education Savings accounts and 529 Plans, just to name a few. Each person’s savings strategy is different depending on how the money will be used, the income of the parents, the future cost of the education and the time frame. (more…)
Parents with special needs children can face a unique set of financial challenges. However, like all financial challenges, it is important to take measures early to financially prepare for the future. Here are a number of financial planning ideas and considerations for those parents who have special needs children: (more…)
This video discusses several important reasons why tax planning is such an integral component of the financial planning process.
How much cash is it appropriate to keep on hand in short term savings and money markets? Before we address the question, it is important to understand the important role cash plays in an overall financial plan.