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Saving for College

Jun 07 2019

If you’re a parent or plan to be one, chances are you are considering ways to pay for your child’s college education. You may have a goal of sending them to public or private school, with the hope of helping them graduate college with little, if any debt.

Whether or not your goal is to fully fund your child’s education or to help as best you can, there are some options to consider saving as much as you can to reach or education savings goal.

One option to consider is a 529 college savings plan. 529 plans allow money to …

Don’t Make Rash Moves if You’re Forced Into Retirement

Jun 04 2019

We talk a lot about retirement planning: taking time out to think about your financial goals and planning out how to reach them. But in “Forced to retire? Here’s what to do” Marketwatch covers a scenario that you may not be able to anticipate: being forced into retirement before you are ready.

The article advises that you do not do anything rash like selling investments right after you hear the news that you must retire. This doesn’t mean that you do not need to examine your assets but rather that you shouldn’t just sell things off …

Find Ways to Save on Summer Fun

May 21 2019

You may have heard it said that those who fail to plan, plan to fail. That isn’t just a clever rearranging of words; it really has meaning. Financial planning is about the long-term and the short-term. The weather is getting warmer and in the short term, it is easy to spend money and be carefree since it is summer but you may regret it later if you overspend. Rather than let summer take you where it may, you can find ways to save on summer fun.

Mint offers “5 Ways to Stop Summer from Wrecking Your Monthly Budget” and …

Mothers: Make Time for Financial Planning

May 14 2019

Now that Mother’s Day is over and we are back to business as usual, let’s really take a look at and appreciate mothers in the United States–many of whom are balancing a lot of different responsibilities.

According to Pew Research (6 Facts about Moms):

The median age at which women become mothers is older than before. There are many reasons for this but we hope that women who are purposeful about delaying motherhood are able to do some financial planning before their first child arrives.

Women spend more time working that before while at the same time also …

How To Turn $5,000 A Year Into a $33 Million Legacy

May 13 2019

With a headline like that I bet you’re thinking this is one of those wild & crazy get rich schemes. However, it’s really just a hypothetical illustration of the great benefits of three factors that can work in your favor in building a legacy:

compounding interest
Roth IRA tax laws (including IRA stretch provisions)
time

What follows is an example of how you can make those three factors work together to create this $33 million legacy.

How It All Started…

Once upon a time, there was this guy named Joe. Joe is 20 years old, working part-time making decent …

Unbiased financial advice from fee-only financial planners

How It All Started…