Archive - 2014

1
Year End College Financial Aid Considerations
2
How to Juggle College and Retirement Savings
3
How Do the Markets Really Work?
4
What is a QLAC?
5
Qualified Charitable Distributions Extended for 2014

Year End College Financial Aid Considerations

grad - small2014 is quickly coming to an end but financial moves you make in the next two weeks could make a difference in the financial aid your child may receive in the 2015/2016 academic year. Because college financial assistance is based primarily on the previous year’s income and assets, be certain of the financial impact before selling an investment, receiving gifts, spending on big ticket items or borrowing to make improvements to your home. Financial Aid Forms The amount of need-based financial aid a student may receive stems from information parents provide The Free Application for Federal Student Aid, or FAFSA… Read More

How to Juggle College and Retirement Savings

family landscapeHow do you successfully negotiate the conflicting goals of saving for your children’s college educations, as well as saving for retirement? If you are like most people, these two goals are constantly competing for your savings dollars and it can be difficult to prioritize one over the other, especially since education seems a more pressing goal. If you are feeling stretched and maybe discouraged as you battle these opponents, there are a few key takeaways to consider:
  1. Prioritize Appropriately
You cannot look at these two goals serially, thinking that if you just focus on the education piece and work your… Read More

How Do the Markets Really Work?

We all do it.  But what do we really know about investing?  A recent post about investing wisdom features a lot of interesting (and often overlooked) facts and figures, plus some insights from Warren Buffett, Jeremy Siegel, William Bernstein, Nobel laureate Daniel Kahneman and a few economists you may have heard of.

Regarding market predictions, the post had this to say: The phrase “double-dip recession” was mentioned 10.8 million times in 2010 and 2011, according to Google. It never came. There were virtually no mentions of “financial collapse” in 2006 and 2007. It did come. A similar story can be …

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What is a QLAC?

401kIn July of 2014 the IRS issued final regulations regarding the allowance of qualified longevity annuity contracts in employer sponsored plans such as 401ks, 403bs and 457b plans as well as IRAs.

What it Means and What it Means to You

QLAC stands for qualified longevity annuity contract. This means that a person is allowed to take up to 25% of their overall account balance but not more than $125,000 in their retirement plan and use that money as premium to fund a longevity annuity contract.

Additionally, the annuitant must start the annuity by no later than the first day …

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Qualified Charitable Distributions Extended for 2014

With the passage of the Taxpayer Tax Increase Prevention Act of 2014, the qualified charitable distribution (QCD) from your IRA is available through the end of the year under normal rules.  This means that you can, if you’re age 70½ or older, make direct distributions from your IRA to a qualified charity or charities, not counting the distribution as income and not itemizing the charitable contribution.

Post originally appeared as Qualified Charitable Distributions Extended for 2014 on Getting Your Financial Ducks In A Row

The post Qualified Charitable Distributions Extended for 2014 appeared first on Getting Your Financial Ducks In

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