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The back-to-school season can be a good time to talk about college savings. As many parents would attest, before you realize it, back to school means back to college. A 529 college savings plan remains one of the most popular vehicles for saving for college costs, largely due to the ease of account creation, flexibility,
Strategies involving 529 college savings plans offer many opportunities for advisors to connect with a range of clients, from individuals and families to non-profit organizations. The rapid growth of 529 plans illustrates the potential business opportunities. After retirement, education funding is widely regarded by investors as the most important savings need. Advisors who reach out
Will you live to be 100? While no one can predict the future, longevity is an important consideration when planning for retirement. A longer life could extend retirement years, and issues like inflation, health-care costs, and withdrawal rates may become increasingly important issues to navigate. To meet retirement income goals, clients will want to understand
Interest rates have reached historic lows since the Federal Reserve continued to maintain its quantitative easing program. Given the current environment, high-net-worth clients may want to explore certain strategies that may benefit from lower rates. At the same time, several estate-planning strategies are negatively affected by low rates. Advisors may want to discuss the following
The latest data on the future viability of federal social insurance programs are mixed. While the outlook for Medicare improved slightly in the recently-released Social Security Administration Trustees’ annual report, Social Security’s anticipated insolvency date remained unchanged at 2033. As Social Security and Medicare remain a significant part of retirement planning for most workers, it
An important decision by the Obama administration may prompt questions from clients. Business owners last week received a one-year reprieve on a requirement by the federal health-care reform law for employers to provide health insurance for full-time employees. The Administration moved the effective date of this requirement to 2015 from 2014, in response to business
Three proposals being debated on Capitol Hill would limit many investors’ ability to plan for retirement. As Washington lawmakers grapple with the federal budget deficit, some retirement accounts and provisions have come under scrutiny. Here are three proposals that have been introduced: 1. Scale back retirement plan contributions Originally proposed in the 2010 Simpson-Bowles Commission
Whether your client’s estate is large, small, or somewhere in between, a new law that took effect this year might warrant a closer look. The American Taxpayer Relief Act holds important provisions for investors with estate assets. The law made permanent the 2012 federal estate tax and gift tax exemption levels and included an adjustment
For business owners, asset protection may be the firewall that could protect the business and wealth they have created over years from unforeseen circumstances and loss. Small businesses, in particular, may lack sufficient insurance coverage to prevent a catastrophic judgment in a lawsuit. Medical professionals may be at risk of a devastating malpractice claim. Medical
Americans are on track to save 61% of current income in retirement, according to Putnam’s latest Lifetime Income ScoreSM survey. The study also found that those best positioned for success shared these characteristics: Have access to workplace savings plans Defer 10% or more of their income Work with a financial advisor Conducted with Brightwork Partners