What Does "Superfunding" a 529 Plan Really Mean? Superfunding a 529 plan is, at its core, doing five years of gifting at one time. Instead of making annual contributions to a beneficiary's education...
When Do I Collect Social Security? Timing Your Benefits for a Long, Happy Retirement
For many older Americans with substantial assets, the question is not simply “when do I collect Social Security?” It is: “When should Social Security become part of my retirement income, how much...
How Much Money Do You Need in Retirement?
There is no single “right” retirement number. What you need to retire depends on your desired retirement lifestyle, retirement age, life expectancy, tax situation, and legacy goals—all of which can...
Tax-Deferred Investing for High-Income Households Near Retirement
Quick Answers: How do some High Earners Defer Taxes Today? For wealthy investors approaching retirement in 2026 and beyond, tax deferral represents one of the most powerful tools available for...
Can I make a tax-deductible traditional IRA contribution?
A Traditional IRA serves as a valuable tool for individuals seeking to save for retirement while deferring taxes. Nevertheless, several factors come into play when assessing eligibility for...
What tax documents do I need and when should I expect them to be available?
Common tax forms and associated issue deadlines: With the start of a new year, we have the start of a new tax season. When preparing to file your taxes, you’ll need several important forms that...
What are a few financial steps to take before the end of the year?
Financial steps to consider taking before the end of the year: REVIEW YOUR ESTATE PLAN Regularly reviewing your estate plan is crucial to ensuring that it continues to reflect your wishes. Changes...
What are some year-end 2024 tax planning tips?
Last Minute Tax Planning Tips for 2024 As we approach the end of 2024, we wanted to share some helpful tips that could potentially reduce your 2024 income tax liability. Please discuss these tips...
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.