Latest Posts

Document Retention

by Eric Nager on Sep 27, 2018

Lifestyle, Savings, Technology

Is your garage overflowing with bank statements and paid bills from ten years ago?  Are you unsure about what documents need to be retained and what can be tossed? Speaking of tossing, what documents can be tossed in the trash, and which should be shredded?  Are you wanting to finally get control of your documents? If so, here are some suggestions for getting that paper under control today.

401(k) Basics

by Eric Nager on Aug 28, 2018

Retirement

As a retirement plan, 401(k) plans currently outpace the competition, with more than 54 million Americans participating in a 401(k) plan, and nearly 550,000 plans offered.

Employer sponsored, 401(k) plans are by far the easiest mechanism for workers to get started saving for retirement. And because there is typically an employer match for contributions up to a certain percentage, workers can end up leaving a significant amount of money on the table if they choose to forego participating in the company 401(k) plan.

Reverse Mortgages

by Eric Nager on Aug 14, 2018

Property, Real Estate

Introduced in 1989, reverse mortgages were designed for homeowners nearing retirement age. The premise behind a reverse mortgage is to allow those aged 62 or older, with at least 50% equity in their home, to tap that equity in the form of a payment that will be made to them monthly. The complete opposite of a standard mortgage, reverse mortgages use the home’s equity to pay borrowers a set amount each month, with owners no longer required to pay their current monthly mortgage, if they have one.

529 Plans

by Eric Nager on May 31, 2018

Tax Planning, College

Started in 1996, 529 plans provide tax incentives for those saving for post-secondary education. The plan allows funds saved to be used at any eligible education institution, which typically includes colleges, universities, vocational schools or any post-secondary educational institute that is currently eligible to participate in U.S. Department of Education student aid programs. Operating much like a 401(k) or IRA, funds deposited into a 529 plan are not taxed, either by the federal government or the state in which the participant resides.

A Summary of 2018 Tax Changes

by Eric Nager on May 14, 2018

Tax Planning

The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018. All of the changes represented in the new tax bill will be in effect through 2025.