U.S. stock indexes again hit record highs in September but sentiment and economic events led to a mixed set of results for the global markets. The markets have a lot to digest and mixed results seem appropriate considering the multi-level economic crosswinds.
Are you wondering if your current savings will be enough to support your future lifestyle in retirement? Use this ‘multiple of income’ table to gauge your retirement readiness and see if you’re on track.
Pension and wealth accumulation patterns have experienced a seismic shift in the last 30 years. Individuals now own their retirement assets versus the defined benefit pension plan model. We may be at a generational pivot point where accumulated family wealth can support education, equity building investment opportunities, meaningful philanthropic/charitable campaigns and legacy assets., similar to the goals of a sovereign wealth fund.
It’s always a pleasure to share these pages with like-minded friends. Adam Ferguson of McCarthy Ferguson CPA is a respected accountant and friend. When he accepted our invitation to share his wisdom with our readers we were thrilled! Adam is a details guy, as meticulousness is paramount to the success of any CPA firm. He's done a great job of highlighting the most important things to consider in your business so that you avoid tax time surprises.
August was a hot month for US equities. The buoyant US economy, confident consumers, and balanced testimony from the Federal Reserve, along with some progress regarding trade, helped lift US stocks to new all-time highs. Outside of the US, the markets faced headwinds.
So you’ve done a great job – or perhaps a reasonably good job – at putting money aside to fund your college student’s education. If 529 plans are a tool you use, here are some ideas for smart withdrawal strategies to help you make the most of the money set aside to pay for college.
Selecting and owning individual stocks has lost favor as a way to invest in the best companies in the world. It isn’t trendy and may seem out of date. However, this approach offers benefits that wealthy investors and institutions have enjoyed for decades.
For many families, paying for college is an enormous responsibility and the costs are daunting. Tuition has risen at an average of 5% per year over the past decade, significantly outpacing the general rate of inflation. Total outlays for a four-year private college education can exceed $200,000. Using a Qualified Tuition Program (529 account) is an efficient way to save money for future school-related expenses.
The Bank of Mom and Dad is a prominent lender/gifter of funds to children for buying a home. Financial headwinds are strong for millennials and it is expected more than a quarter of first-time home buyers will get financial assistance from relatives.
Once a child turns 18, parent access to medical information is not guaranteed. By putting the right legal documents in place before heading off to school, college-age children can get immediate input and help from parents if they have a health issue.