If you're married (or about to be married), financial planning is certainly important. It's also important for you to be aware of the income tax ramifications of your decisions.
529 savings plans are tax-advantaged education savings vehicles and one of the most popular ways to save for college today. They can also be used to save for K-12 tuition. Much like the way 401(k) plans changed the world of retirement savings a few decades ago, 529 savings plans have changed the world of education savings.
There are five estate planning documents you may need, regardless of your age, health, or wealth.
People of all income levels are eligible to contribute to a 529 plan.
Are you saving for retirement? For your children's education? For any other long-term goal? If so, you'll want to know about something that can impact your savings: inflation. Inflation is the increase in the price of products over time.
As you prepare for life with your new child, it's time to prepare a new financial plan for your family or make any necessary changes to your existing plan.
You've worked hard over the years to accumulate wealth, and you probably find it comforting to know that the assets you leave behind after your death will continue to be a source of support for your family, friends, and the causes that are important to you.