by Savvysite | Jan 16, 2018 | SWWM, The Savvy Minute
Today’s tip will cover “Why choose a 529 plan for college savings?” A 529 Plan is a college savings account that is exempt from federal taxes. These types of plans were introduced in 1996 to help taxpayers save for college expenses for a designated beneficiary. A few...
by Savvysite | Jan 3, 2018 | Estate Planning, SWWM, The Savvy Minute
Today’s tip will cover “What is an irrevocable life insurance trust? Also known as an ILIT! An ILIT is created by an individual (also known as the grantor) during his or her lifetime. The ILIT owns a life insurance policy on the grantor’s life via the transfer of...
by Savvysite | Dec 21, 2017 | Estate Planning, SWWM, The Savvy Minute
What is a Trust? Simply put, a trust agreement is a document that spells out your wishes upon your death. When the time comes, how would you like your money and property distributed? However, depending on your specific goals and needs, there are many types of...
by Savvysite | Dec 11, 2017 | Retirement Planning, SWWM, The Savvy Minute
Today’s tip will cover “Which retirement account should I withdraw on first?” If you have a combination of taxable accounts and tax deferred accounts saved for retirement, a straight answer would be to withdraw money from your taxable and tax-free investment accounts...
by Savvysite | Nov 30, 2017 | Retirement Planning, SWWM, The Savvy Minute
If you have been saving for retirement for a while now, you may be thinking how long do I have before I can retire. Or, if you are already retired, you may be thinking will my money last? A few things you should consider about are…Will you outlive your money? And,...
by Savvysite | Nov 14, 2017 | Retirement Planning, SWWM, The Savvy Minute
Today’s tip will cover “What retirement plans offer tax benefits?” Well, there are many different types of retirement plans that offer tax benefits available to you with different rules about contributions and distributions. Some retirement plans are sponsored by...
