A student’s health-care proxy can remove barriers for parents in case of an emergency
Parents may also want to prepare some documents such as a health-care proxy before their child leaves for college in case of an emergency or illness.
Putnam Wealth Management
Preserving and sustaining wealth for the future
Clients need help with complex financial planning matters such as efficient wealth transfer, tax and inflation risk, and sustainable income in retirement. Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights, tips, and legislative updates.
Under tax reform, there is no turning back on a Roth conversion
Under tax reform, reduced marginal tax rates are lowering the cost of a Roth conversion, but the ability to reverse the move is eliminated.
Next steps when the first college bill is due
Many parents sending children to college for the first time may need help with financial advice and maximizing their 529 plan when the college bill is due.
Consider these strategies before interest rates climb higher
With many financial plans tied to IRS interest rates, there are several strategies that investors may want to consider before rates move higher.
Will taxpayers pay more or less under the new kiddie tax rules?
Families with assets in custodial accounts for minors are wondering how the new tax law will impact those accounts, as changes were made to the kiddie tax.
LGBT couples may have to navigate unique planning considerations
The path to achieve many financial goals, such as estate planning, may present specific challenges for LGBT couples, particularly those who are not married.
Families with 529 college plans garner more savings
While more families choose a general savings account to save for college, those using 529 college plans are saving more, according to Sallie Mae.
Three ways that tax reform strengthens ABLE accounts
Recent tax reform resulted in changes that allow families to save more in ABLE Accounts for the care of a child with disabilities.
How to use a 401(k) to fund a Roth IRA
Despite income restrictions there may be a way to super-charge your Roth IRA by using a provision for 401(k) plans.