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…)
Improving financial markets have created a renewed interest in charitable gifting. One particular tool that can be very effective in helping you achieve your charitable objectives is a donor-advised fund.
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…)
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.
The essence of our Retirement Feasibility Analysis service is to help clients make long-term financial decisions that increase the odds of their assets sustaining them throughout their lifetimes. An important component of this type of analysis is to consider the probability of various negative outcomes. While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” – those financial uncertainties that have the potential to derail financial goals.
During retirement, is it best to take distributions from IRAs, Roth IRAs or personal brokerage or savings accounts? The decision of “Which account?” is an important one with many factors to consider. (more…)