The Great Wealth Transfer: Is Your Family Prepared?
Over the next twenty years, a wealth transfer will occur that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations. The Baby Boomers (born 1946-1964) are considered the wealthiest generation, currently controlling 70% of the disposable income in the United States. It is imperative… Read more
Donor-Advised Funds: A Solution to Gifting with Tax Benefits
Gifting, for many investors, is about the philanthropic support they want to give charities. Gifting to help make the world better by benefitting society is one reason many families choose to donate. The charitable giving tax deduction they received in the past was a bonus. The above-the-line deduction for charitable giving is $300 per calendar… Read more
What Should Grandparents Know About 529 Savings Accounts?
Grandparents can often find themselves in a better financial position to save for their grandchildren’s education than their own children are. The parents of prospective students may still be contending with competing priorities like their own student loans, high-interest credit card debt, or a hefty mortgage. One way to help save for a grandchild’s college… Read more
Death Certificates – How many do I need to order?
Executive Summary: National Average suggest 6 – 10. However, advice varies. We have seen suggestions that say start with 2-3. It really depends on the person. The more financial concerns, the more death certificates that will be needed. In Oregon, the cost is $25 per certificate and a one-time $20 filing fee. It is possible… Read more
Facing Down the Fear of Running out of Money
Tips to avoid one of the biggest retirement worries that all of us will face Retirement is a major milestone that brings many life changes. One thing that doesn’t change for most people: the fear of running out of money. In fact, one of the most frequently reported retirement worries is outliving savings and investments.… Read more
Retirement Planning: To Roth or Not to Roth?
When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even if you do, there are reasons you may want to consider using Traditional and/or Roth IRAs to supplement your retirement savings. There… Read more
Creating an Income Plan While in Retirement
Taking money out of retirement without a plan is a recipe for trouble You‘ve saved for years. Now that you are retired, did you create an income plan from your savings? The financial industry and media constantly talk about the need to save for retirement. Put money into your 401(k), contribute to your individual retirement… Read more