Roth Conversion: Is it Right for You?
Do you feel confident you are minimizing taxes over your lifetime? If you are like many people, the answer is no. Most people are focused on today. They want to reduce taxes today, but fail to consider how much in taxes they may pay in the future. Roth IRA conversions can be an excellent strategy […]
Superfund a 529 Plan: What You Should Know
A powerful way to start saving for college and remove money from your estate is to superfund a 529 plan. Superfunding a 529 plan is where you contribute multiple years’ worth of the gift tax exclusion amount to a 529 plan, file a gift tax return using Form 709, and average the gifts over five […]
529 Plans: The Complete Guide to Saving for College
College is expensive. The average public, out-of-state tuition is $24,513 for the 2023-2024 school year. If tuition rates increase at a 3% rate per year over the next 18 years, the average public, out-of-state tuition could cost about $41,731. The total cost over four years would be $174,590. For most people, paying out of pocket […]
Donor-Advised Funds: How to Use to Reduce Taxes and Give to Charity
Have you ever wondered if there was a better way to give? Do you get tired of tracking receipts, writing checks, and inputting credit card information on charity websites? I know I did. $100 here, $50 there, and by the end of the year, I’m trying to remember and track down the charities to which […]
5 Steps to Help Protect Your Credit as a Widow
There were 1,387,615 identity theft cases in 2020. There were 2.18 million reports of fraud. It’s very important to protect your credit as a widow. Identity theft is not an easy road to recover from. At a time when bills need to be paid, funeral arrangements need to be organized, and it’s tough to feel […]
10 Questions to Ask a Financial Advisor
What do you ask a financial advisor before hiring them? Coming up with questions to ask a financial advisor is not a simple process. Money is a taboo topic, and this is the person to whom you’ll open your financial life. You may share your income, net worth, tax returns, estate plan, insurance coverages, and […]
5 Strategies to Create a Successful New Year’s Resolution
I love and hate New Year’s resolutions. What about you? I love them because it feels like a natural time to make a change. People are often reflecting on the last year and trying to figure out how to make the next year more ideal for themselves. What’s not to love? I hate them because […]
Common Estate Plan Mistakes – The 7 Step Guide to Reviewing Your Estate Plan
An estate plan is one of the most important pieces of your financial life. Are you sure yours is how it should be? Does it have the right people in the right roles? Are your assets properly titled? Does it have common estate plan mistakes? Do you even know what it says? Despite it being one […]
How to Simplify Your Finances and Why It Can Be Life Changing for Loved Ones
We all eventually die. Sometimes, you know when it is coming. Other times, it is a surprise. The grief and transition is never easy. Emotions come in waves. Nobody told you the endless paperwork you would have to do. Just when you think it’s done, something else pops up. We plan for many things in […]
The Ultimate Guide of What to Say to a Widow – 15 Phrases You Can Learn
What do you say to a widow? Have you ever had the awkward interaction of saying “I’m sorry” in response to learning that a widow just lost their spouse? How do they usually respond? Usually, it’s a “thank you”, “me too”, or something else short and sweet to wrap up the conversation. “I’m sorry” is […]
