A 529 plan is a tax-advantaged savings plan designed to help pay for education. Originally limited to postsecondary education costs, it was expanded to cover K-12 education in 2017 and apprenticeship programs in 2019. There are two major types of 529 plans – education savings plans and prepaid tuition plans. This update pertains to 529 […]
NEW DISTRIBUTION RULES FOR 529 SAVINGS PLANS Read More »
Just before the end of 2022 the SECURE 2.0 Act of 2022 was signed into law as part of the Consolidated Appropriations Act of 2023. One of the changes included in the Act delays the age for required minimum distributions from IRAs and company retirement plans, and it is likely to impact you in some
REQUIRED MINIMUM DISTRIBUTION (RMD) RULES HAVE CHANGED! Read More »
Every morning I look forward to The Morning email from The New York Times. An article that ran not long ago struck a chord. It discussed “why economic inequality began soaring in the U.S. four decades ago.” The author, David Leonhardt, began: “If you look at historical data on the U.S. economy, you often notice
WHAT HAPPENED TO THE MIDDLE CLASS? Read More »
What a drag! Taking care of finances is bad enough, you say (especially when the news is not great), but now you are telling me that I need to also be vigilant? What do you mean and how much time is that going to take? I am so glad you asked! Financial vigilance can take
FINANCIAL VIGILANCE Read More »
If you follow my blogs, you will have gone through an exercise to set both short-term and long-term financial goals. (See my blogs: Set Your Investment GPS, The Battle of Needs vs Wants, and Choices.) Saving is what is meant when you set aside funds for short-term goals, those goals with timeframes shorter than 5-7
SAVING FOR SHORT-TERM GOALS Read More »
At least once a week I receive an email or cell phone message that sounds like a scam and I bet you do, too. Despite television announcements, magazine and newspaper articles, and warnings posted in public places, scams and other fraudulent schemes take a toll. Investment Scams When I was an advisor in a brokerage
If you have spent any time on my website or are a regular reader of my blogs, you know that financial literacy is my passion. I mean PASSION! Throughout my career and in my life, the question I ask myself is: What is the best way I can help others? My book, How to Dress
FINANCIAL LITERACY – HOW CAN YOU HELP? Read More »
This is a story about a bed. You probably have a similar story. Let’s see …… Newlywed I was married between my junior and senior year in college. We were totally oblivious to the material needs and costs of life together. We did not own a car. My husband had a motorcycle, and I had
THE TALE OF THE BED Read More »
Every day as I prepare breakfast, and then again at lunchtime, I watch parents drop off and later pick up their preschoolers at a church near our house. The little ones hop and skip to where their friends are playing, even if there is a foot of snow on the ground. They are always happy,
SAVING FOR EDUCATION Read More »
“Numbers, numbers, numbers! Everywhere I look there are numbers! I hate math, I hate numbers!” Wow! Does that sound like you? Maybe not every day, but some days? Right now, I am trying to put together all the forms and records needed to file my income tax and, I will tell you, there are days
NUMBERS, NUMBERS, NUMBERS! Read More »