When qualified state tuition programs (QSTPs) were first introduced in 1996 and Section 529 was added to the Internal Revenue Code, the intent of Congress was to create a create a tax-friendly way for families to save for college costs. At that time, the law provided that any earnings in a QSTP would be tax [...]
The SECURE Act is by far the biggest retirement-oriented legislation to be enacted in over a decade. Many Americans are left wondering, “What does this mean for me?” Here’s what you need to know. 1. Required minimum distribution age increased to 72 One of the biggest changes in the SECURE Act is the increase of [...]
Related posts on Investing in an Inflationary Environment: Deeper Dive into the Mechanics of Series I Bonds What are TIPS and how do they work? Sell Bonds in Inflationary Environments? Your end of year to-do list is already overflowing. You have to prepare and send holiday cards, put up lights, get the holiday-themed lawn ornaments [...]
Related Posts: When ROTH is Wrong: Follow-Up Q & A Opportunity for High Income Earners – the Backdoor Roth Conversion More than 50,000 visitors in 2021… click here to sign up for our newsletter and never miss a post! (Don’t worry, we will not take up too much space in your inbox. After four fun [...]
Investment offices teem with daily data releases and economic news bites. Afternoon market round-ups attribute the day’s movements to whatever data points best fit the narrative of the day or week. Investors crave the narrative, eagerly awaiting the next market moving release. Lately financial news has inundated us with talk of global slowdowns, trade wars, [...]
Hats off if you’re maximizing your 401k deferrals and reaching the federal employee contribution limit each calendar year: $19,000 in 2019 if you’re age 49 or younger or $25,000 in 2019 if you’re age 50 or over. Note: these limits have increased to $19,500 and $26,000 respectively for the tax year 2021. Additional congratulations if you’re [...]
The House of Representatives passed a bill on May 23rd known as the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) which would initiate the biggest changes to retirement accounts in over a decade. The bill had bipartisan support, passing with a vote of 417-3. It now heads to the Senate [...]
I got a flu shot in the fall of 1999. It is a seemingly trivial detail of life that should be long-forgotten but was, instead, memorialized by what followed. A few weeks after receiving this influenza vaccine, I suffered through the historic changing of the calendar from 1999 to 2000 with a debilitating flu. That [...]
The Greek philosopher, Socrates, left no known writings. Only secondary sources exist for historians to piece together a recount of his work and teachings. The Platonic dialogues - roughly 30 dialogues written by Socrates' student, Plato - provide the source for much of what we know about Socrates. The dialogues generally involve Socrates as the [...]
Last week’s Astute Angle post explained some fallacies related to mortgage borrowing and how the free pass treatment of home mortgages as "good debt" leads to poor financial decision-making. In response to that post, I received a few questions related to the "good debt" label of student loans that prompted another debt-centric post. Three of [...]
