Hidden Costs of College
Congratulations! You have four years of tuition, room and board stashed away in your 529 plan, and your child hasn’t even graduated from high school yet. Now you can breathe easily, right? Well … maybe, maybe not.
Congratulations! You have four years of tuition, room and board stashed away in your 529 plan, and your child hasn’t even graduated from high school yet. Now you can breathe easily, right? Well … maybe, maybe not.
It feels as though we just finished this tax season with the next one already upon us. No time to waste so let the tax preparation begin!
With 2020 and 2021 behind us, I am most thankful for my health and the good health of my loved ones.
The maximum contribution for 2022 individual retirement account contributions is $6,000 ($7,000 if aged 50 and over). There are income limits which determine whether you can deduct your Traditional IRA contribution or if you qualify to make a Roth IRA contribution.
Life is uncertain. There are many things that are beyond our control.
Budgeting is very important for setting yourself up for longer term financial success. I personally prefer monitoring three separate equations for main spending goals including retirement savings, home mortgage costs, and overall debt servicing costs.
Earned income stops for everyone at some point, and people then need to navigate the transition from saving for retirement to spending from their investment portfolio.
The kids are back in school, the leaves are changing colors, and pumpkin spice lattes – the age-old harbingers of harvest season – are everywhere. At Parsec, we are preparing for the harvest…of tax losses.
In addition to preparing yourself mentally for retirement, you should also make tactical changes to your portfolio and overall financial plan as you approach your targeted retirement date.
I’m big into rowing – I’ve competed in quite a few boat races as the coxswain. For non-rowers, it’s pronounced “cox-en” and as Business Insider puts it I’m the “motionless member in the back of the boat.” But don’t let that fool you – even though I’m not powering the boat, I’m playing an important role steering it and directing my teammates.