Navigating 529 Plan Strategy Changes
Managing your 529 plan effectively is crucial to ensuring your investments grow without incurring unnecessary taxes. One key feature of 529 plans is the limitation of two strategy or investment changes per year. This constraint can be challenging if market conditions prompt a need to adjust your account investments. For that reason, it is very […]
When It Comes To Your Finances, Don’t Be A Duck.
There is an old story about a kingdom of ducks. One day the king of the ducks decided to hold a conference and he called for all of the ducks to travel to the palace where he promised they would have an experience they would never forget. On the day of the conference the ducks […]
Why Are Mortgage Rates Staying Stubbornly High?
The Average 30-year fixed rate mortgage is currently sitting at 7.10% as of Jan. 6, 2025. This is a stark contrast when compared to the all-time lows of 2.75% back in the beginning of 2021. We have seen the cost of financing a mortgage skyrocket as the Federal Reserve began to increase interest rates after […]
My Money, Your Money or Our Money?
Money can be a touchy subject as there is usually a lot of emotion involved when discussing it. When it comes to the blending of finances, all bets are off. There is no real “right” answer to any situation, it really comes down to what you and your significant other are comfortable with. Although there […]
Are Retirement Benefits Taxable?
If there is one thing everyone can agree on, it is that we want to pay the least amount of taxes as possible. There are many facets of taxes to consider, but the one I am going to discuss today is retirement benefits. There are numerous types of benefits, too many to even discuss in […]
Financially Savvy Resolutions for the New Year – 2025
As the festive holidays come to an end, we look forward to the New Year. Welcome to 2025, the year in which setting financial goals will guide you toward reaching financial freedom. While everyone’s definition of financial freedom is unique, there are a few objectives that can give you a solid foundation for the New […]
Navigating the New Year: What’s Ahead for the Economy in 2025?
As we inch closer to the end of 2024, we all deserve to stop and take a deep breath. For many, this year has been filled with stress and anxiety. I think most of us are ready to close our eyes and wake up in 2025. When brainstorming ideas for this end-of-year blog, we began […]
Understanding Roth Conversions and How They Could Benefit You
As Financial Advisors, we are often asked questions that arise after clients see a video on social media, read an intriguing headline or news article, or overhear a conversation about an investment related topic. One of those hot topics that has been coming up regularly has been around Roth IRA conversions or “backdoor Roth IRAs”. […]
Helping Your Children Learn to Handle Money
When did you start earning money and what was your job? My first paying job was babysitting children. I had taken the babysitting course at the local Y, earned my certificate, and let neighborhood parents know I was available. From there I moved on to a summer in the tobacco fields of the Connecticut River […]
7 Things to Consider About Joint Bank Accounts
A joint bank account is an account that two or more people share. The key feature of joint accounts is that each person named on the account has the ability to access and manage the funds independently. There are several types of joint accounts, including: Things to Check with Your Bank When Someone Dies Losing […]
