Max Mason |
As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions. But for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option. In many ways, a 401(k) and an IRA are similar in scope, with contributions for both...
Max Mason |
Your idea of retirement is probably much different from that of your parents. Your saving strategy should be too. By starting now and taking an active role in planning, you can positively impact your future.
It stands to reason that, people who manage to get to the gym on a regular basis are generally healthier people. What you may not know is that they can also be wealthier people because they may pay lower premiums on their insurance. Insurance companies are stepping up their campaigns to encourage healthier living and it is paying off for both the insurance companies and their policyholders. Insurance underwriters consider a number of factors in...
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
Max Mason |
If you don’t know the difference between asset-backed securities and securities, you may want to take a look at these common financial terms and their definitions. Asset Backed Securities Asset-backed securities are bonds or notes that are backed by assets such as credit card accounts receivable, auto loans, and home equity loans. Blue Chips Blue chips are well-established, well-recognized, financially stable companies. Blue Chip companies offer a variety of products and services, have been in...
For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments. Your new job can just about cover rent and groceries but the limitless pocket money of your youth is now a distant memory. Granted, saving for retirement may be a far fetched idea with the mountain of immediate payments piling up; however this does not mean that young Canadians should...
If you’re approaching retirement age, you may be considering a move to a more retirement-friendly state, particularly if your current state of residence imposes numerous taxes on social security, pensions, and other retirement income. While making the decision to relocate is not something that can be done lightly, there are a variety of options available nationwide that may allow you to retain more of your retirement income. Of course, taxes alone are not the only...
Max Mason |
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 at 401(k) or IRA, funds deposited into a 529 plan are not taxed, either by the federal government or...
Max Mason |
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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. The first major change was the...
The rising popularity of robo-advisors has some in the industry wondering whether this is the beginning of the end for financial advisors. In reality, robo-advisors have been able to do something that traditional financial advisors have not; get those with limited resources to begin creating a portfolio of investments. Experienced financial planners typically don’t accept clients with less than $200,000 or (much) more in their portfolio. On the other hand, some robo-advisors are accessible with...
Max Mason |
Health insurance used to be a fairly simple process. But today, whether obtaining health insurance privately or through an employer, we’re being offered a variety of insurance plans with varying benefit levels, making the choice more difficult. Before you enroll in another health insurance plan, here are some common terms you need to know – and understand: Co-Insurance – Co-insurance is the amount that you are responsible for out-of-pocket. Most plans have levels such as...
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...