Bitcoin and inheritance

If you own Bitcoin, it might be wise to plan and think about where to store your information about it – just like all our passwords and other sensitive information. Our valuables used to refer to our possessions but now it also includes: information! No matter how young we are, we need to plan for the possibility of not being here tomorrow. How would that … [Read more...]

New tax treatment on 529 plans and Mortgages

New tax law changes for 529 plans Allows up to $10,000 of 529 plan accounts to be used for K-12 tuition and related expenses annually in addition to post-secondary qualified education expenses. This means that it is possible to get money out of your 529 plan BEFORE you complete the FAFSA form without paying the penalty and taxes on the growth.  Contact us if … [Read more...]

What is the Largest Asset Uncle Sam has? You might be shocked.

Pop Quiz - what line item is the largest asset in Uncle Sam's financial accounts? A) U.S. Official Reserve Assets B) Total Mortgages C) Taxes Receivable D) Student Loans The correct answer, as of the latest quarterly data, is ... Student Loans. This past week there has been an interesting article by Jill Mislinski in Advisor Perspectives. … [Read more...]

4 phases of a Financial Plan

1. Accumulation phase This is typically the longest phase and everything we do here will affect our future. We should perhaps try to look at this phase of planning from the future – when I am 70, 80, 90 – what will I hope that I have planned for if I were to look back from those ages? Will I have planned for Tax efficiency, a decent Rate of Return, what were … [Read more...]

Another $6000 in my pocket – Negotiated Aid

An extra $6000 saved – There is the hard way .......... or the other way How long would it take the average person to save up an EXTRA $6000 above what they are saving now? How long would it take the average student starting out to save up an EXTRA $6000? I often tell clients that there are 3 types of Financial Aid: Merit based Financial Aid – this is … [Read more...]

I’m no fool, no sir-ee

Jiminy Cricket was not far off in those days. I was in boarding school in high school because we grew up on a farm that was pretty far from the town where the school was, and if I wanted to do all the sports and after-school activities that I loved, my (single) Mom could not afford to drive me back and forth – especially seeing that I was one of six … [Read more...]

Important recommendations about the FAFSA form

FAFSA season – read this first! As someone who is often asked for advice and information on completing the FAFSA form, I thought I would just weigh in on some of the problem areas that we might come across that might influence our perspective on the FAFSA form. Often I come across the standard industry replies of “The first ones in get most of the money” but … [Read more...]

Why should my kid have an Estate pLan?

A client was shocked the other day when I suggested that his student, recently out of college, should have an Estate Plan. As our children get older, our conversations with them get more meaningful and the subjects take on increased value. I often have discussions with my clients about their Estate Planning, but they were shocked when I suggested that estate … [Read more...]

Dr. Livingston I presume?

I was reminded this week of the time when we visited the Victoria Falls in Africa. Also known as Mosi-oa-Tunya (Smoke that Thunders), the Falls emanate out of the Zambezi river in Zambia and are one of the seven natural wonders of the world. Vic Falls (as it is known locally in Africa) are roughly twice as high as the Niagara Falls and twice as wide as … [Read more...]

Both sides now

Joni Mitchell wrote the famous song “Both Sides Now” after being inspired by a passage from the novel “Henderson the Rain King” about being on a plane looking down on the clouds. There are so many examples in life where we see things from our perspective and yet others see the same things from a different perspective. I have just returned from Africa on a trip … [Read more...]