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Type of Savings Account to Use for Child's Education
 
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Robert McCullock, CFP® was asked what type of savings account is best to use to save for your child's education, a Roth IRA or 529 Plan? In this video clip, Robert explains the rules for a 529 plan, college savings plan and then further explains the pros of saving money in a Roth IRA account, a tax-free retirement savings account. http://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Просмотров: 7998 Pure Financial Advisors, Inc.
College Tax Strategies Part I
 
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Got that college acceptance letter? Need to know how to pay for school? Section 529 plans, Education Savings Accounts, U.S. savings bonds, and permanent life insurance policies all offer tax advantages for your family's college savings.
How tax breaks help the rich
 
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The US has a problem with income inequality. The current tax code makes it worse. Correction: At 2:20, we say that the Glenstone Museum is only open for private tours. But, in fact, it’s free and open to the public for scheduled tours. Subscribe to our channel! http://goo.gl/0bsAjO Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. The gap between the rich and the poor in America looks more like developing countries than other Western nations. Trump and the GOP have proposed tax plans that will give massive tax breaks to the wealthy while it remains unclear if the middle class will get a tax benefit. Deductions give a greater proportion of tax breaks to people with higher incomes. The same charitable contribution from two different incomes will benefit the higher wage earner, because deductions give tax breaks in proportion with tax brackets. Other countries have eliminated certain tax deductions in favor of tax credits. Credits give breaks in proportion to the amount you give, not the amount you owe. There are two kinds of income in the US. We tax wage income at a higher rate than income earned in stocks and bonds. That means people who get their income from capital gains and stock market interest pay fewer taxes than the same income of someone who works for a paycheck.
Просмотров: 1498645 Vox
September 16, 2014 US Expat College Saving Strategies
 
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This webinar discusses 529 college savings plans, Coverdell ESAs, and other tax-efficient investing techniques that Americans living abroad can utilize to successfully save for their children’s education. We also focus on some of the unique obstacles faced by U.S. expats in taking advantage of these special opportunities
Просмотров: 303 Thun Financial Advisors
Tax Savings for K-12 Tuition | simpleetax
 
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This video goes over a tax savings strategy utilizing 529 plans to pay for tuition for K-12 students under the new tax plan. Illinois 529 Plans: 1) Bright Start - https://www.brightstartsavings.com/ 2) Bright Directions - https://www.brightdirections.com/ Email: stephen@simpleetax.com This video is for entertainment and informational purposes only and should not be considered tax advice. By watching or commenting on this video, we are not forming a professional relationship. If you seek specific tax advice, please consult a CPA from your local area.
Просмотров: 163 simpleetax
529 Plans - The 2nd Best Way to Save for College
 
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A 529 plan is definitely not a complete college funding strategy. In fact, for many families, a 529 plan is not even the best college savings option. 529 plans can be expensive and inflexible. They do not generate federal tax deductions and, if you are not careful, the anticipated tax-free withdrawals may not materialize. This video describes what might be the perfect alternative to a 529 plan.
Просмотров: 3380 MyCollegeWallet
529 Plans and College Savings
 
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Happy belated #529Day, a day when states try to boost interest and participation in 529 education savings programs with various incentives. To mark the occasion, we have one of the foremost authorities on 529 plans, Andrea Feirstein, founder and Managing Director at AKF Consulting Group, a leading strategic advisor to public administrators of state investment programs. Andrea was extremely knowledgeable and we touched on several topics, including: -What is a 529? A tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. -What’s the tax benefit of a 529 plan? Withdrawals for qualified higher education expenses and earnings in the account are not subject to federal income tax and, in most cases, state income tax. Additionally, some states offer residents of the state specific incentives, like the ability to deduct contributions from state income tax or a matching grant. -What does a 529 plan cost? Fees and expenses vary widely from plan to plan and can include start-up fees, maintenance fees, or sales charges. In general, advisor-sold plans cost more than direct-sold plans. The Financial Industry Regulatory Authority (FINRA) has developed a tool to help you compare how these fees and expenses can reduce returns. -What happens if my kid doesn’t go to college? Most states allow you to tap the accounts for other children in the family or even for the parents. Those withdrawals that are not used for qualified higher education expenses will be subject to state and federal income taxes and an additional 10 percent federal tax penalty on earnings. -What has changed with the 2018 tax law? Americans can now withdraw funds tax-free from 529 plans to pay for K-12 tuition and other eligible expenses at private and religious schools, up to $10,000 per year. But there’s a caveat: Not all states will conform to the new federal rules. That means before you pull money, be sure to double check with your state. Have a money question? Go to jillonmoney.com for all the contact info. We love feedback so please subscribe and leave us a rating or review in Apple Podcasts! Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.linkedin.com/in/jillonmoney/ http://www.stitcher.com/podcast/jill-on-money https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 "Better Off" theme music is by Joel Goodman, www.joelgoodman.com.
Просмотров: 84 Jill Schlesinger
The 529 College Saving’s Plan - Steve Savant's Money, the Name of the Game - Part 5 of 5
 
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Sub Headline: 529 Plans: The Good and the Bad and The Market Exposure Synopsis: The public views college funding as 529 plans funded with investments like mutual funds and ETFs. There’s nothing wrong with that. But college plans and funding is much broader than 529 Plans and ETFs. Watch the video interview with college planning expert John McDonough. Content: The federal formula for assessing how much a family can pay for college is strictly focused on the finances of parent and child. So 529 plans opened by grandparents go uncounted in the federal calculus. In distributing their own aid, however, colleges often look at all 529 plans that name the student as beneficiary. So even if the strategy works for the federal-aid calculation, it won't necessarily work for the institution's own aid assessment. - From Wall Street Journal; December 18th, 2006 Here are a couple of lines taken from CSS Profile, Section Q #521) Enter the total value of assets held in Section 529 college savings plans that were established for the student by someone other than the student’s parent(s) #523) Enter the estimated amount that will be withdrawn for the student for the 2017-2018 academic year from Section 529 plans established for the benefit of the student. If you own a 529 Plan, make sure you have a competent college funding advisor examine it BEFORE you apply for financial aid. One last thought: 529 Plans are often funded with mutual funds and ETFs. A lesson learned during the “lost decade” (2001-2010) is that markets are volatile. The S&P 500 Index lost four times in that ten-year period. You need to understand your risk tolerance and more importantly when you need the money. Many families saving for college were financially hurt during this period and had to significantly alter their college plans. Longer timelines like 12 to 15 years is preferable for market driven funds. It’s your life. It’s your time. It’s your money. John McDonough has contributed to this press release. Segments in part or whole are from his publications. Syndicated financial columnist, talk show host and popular platform speaker Steve Savant interviews college funding expert John McDonough on Financing Your Child’s Education. Steve Savant’s Money, the Name of the Game is an hour-long financial talk show for financial professionals distributed online in 5 ten-minute video press releases Monday through Friday through Trans World News 280 media outlets, social media networks and industry portals. (www.lifesizesolutions.com) https://youtu.be/dnYX-DPTHrc
Просмотров: 946 Steve Savant
Long-Term Tax Advantages of Education Funding
 
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Learn about the tax advantages that 529 Plans and Coverdell Education Savings Accounts offer that are not available through other college savings plans. Visit Northwestern Mutual: https://www.northwesternmutual.com/ Like us on Facebook: https://www.facebook.com/northwesternmutual Follow us on Twitter: https://twitter.com/NM_News Follow us on Instagram: http://instagram.com/northwesternmutual Subscribe on YouTube: https://www.youtube.com/northwesternmutual
Просмотров: 271 NorthwesternMutual
Contributing to a 529 Plan
 
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James Lange, CPA/Attorney and best-selling author of "The Roth Revolution: Pay Taxes Once and Never Again," and 2 editions of "Retire Secure" discusses some of the best strategies for retirement and estate planning.
Просмотров: 581 retiresecure
Financial Planning Strategies for All Ages | S.2 Ep. 18
 
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Learn key retirement saving strategies for your 30’s, 40’s, 50’s and 60’s. As you grow older, your financial situation and life needs change. Understand the importance of saving for retirement and the steps you should be taking depending on where you are in life. 1:37 “57% of Workers have less than $25,000 saved for retirement” (Source: Employee Benefit Research Institute) 3:55 “It behooves you to start as early as you can because that way the compound of money is going to work the best for you” 4:31 “Max out your 401(k) as much as you can or at least to the match” 5:46 “You have to take a look at paying yourself first, keeping those expenses under control, and then if you do get a bonus or if you get a raise, try to save half of that” 6:29 “This is a great opportunity for the younger generation to take control of their finances and start saving” 7:45 “According to U.S. News, when switching jobs there are three ways that you that could avoid paying taxes or early withdrawal penalties from your 401(k). First, you can leave it in your old 401(k), second, you can roll it over to an IRA, or third, you could transfer the balance into the 401(k) at your new employer.” 10:24 “I think the first thing [40-year olds should do] is setting a goal, establishing a saving goal, whatever that may be” 11:08 “Go higher than you think you’ll actually do…I think if you set it high and it’s automatic, especially if you’re saving in your 401(k), it’ll be out of sight out of mind; you’ll end up saving a lot more than you think you actually can” 12:18 “I would say there are three key things: make sure to pay yourself first, make sure to choose the appropriate investments, make sure to monitor your progress and see where you’re at” 15:00 “If you’re 50-years old or you’re 55, here are the steps: you want to start right now (can I cut some spending?), then from there you can save more, manage the assets appropriately” 15:10 “If you do not have a 401(k) plan, try to save into an IRA, or a Roth IRA, after those look into non-qualified investments or stocks or bonds…save, save, save: that’s the key” 18:23 “The younger generations are not taking the appropriate amount of risk in their overall portfolio” 18:38 “One of the things that you absolutely need to figure out is what is the retirement date? It’s not this arbitrary number; you want to make sure you have enough capital to maintain a lifestyle long-term” 18:54 “Believe it or not there are over 500 ways to collect Social Security if you’re married” 19:16 “For people who can afford to wait, wait on your Social Security, you can wait as long as age 70 when you’ll get the maximum amount possible on Social Security, and that will last the rest of your life and it’s indexed for inflation” 23:31 “If you’re a first-time home buyer, there are special rules within the IRS legislation that allows you to take money out without the penalty” Aired 5/2/15 If you live in southern California and would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-ass... Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” Channels & show times: yourmoneyyourwealth.com http://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Просмотров: 20332 Pure Financial Advisors, Inc.
Section 529 Plans vs. Coverdell Education Savings Accounts
 
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This video compares and contrasts Section 529 Plans and Coverdell Education Savings Accounts (ESAs). Both 529 Plans and Coverdell ESAs are tax-advantaged ways to save money for a person's education. Contributions are not generally tax-deductible, and earnings grow tax-free provided they are later used for qualified education expenses. There are several differences between 529 Plans and Coverdell ESAs, however. While Coverdell ESAs can be used for elementary, secondary (high school), or higher education (college) expenses, 529 Plans can only be used for higher education expenses. With Coverdell ESAs, the beneficiary (the student who is getting to use the funds for his or her education expenses) can only receive up to $2,000 annually regardless of how many people contribute to the account. 529 Plans do not have such a restriction, although a maximum investment amount will be set by the 529 Plan in question (different states have different 529 Plans with different rules). Contributions to Coverdell ESAs must be made before the beneficiary turns 18 years old, and withdrawals must be made on or before the beneficiary's 30th birthday (529 Plans do not have an age or time limit restriction). The amount a person can contribute to a Coverdell account begins to phase out when he or she reaches a certain level of modified adjusted gross income, while 529 Plans have no income restrictions. With 529 Plans, however, the investments are typically set by the plan; Coverdell ESAs provide the contributor with greater flexibility in deciding how the money is invested. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Просмотров: 1821 Edspira
College Savings Plan using our Wealth Accumulation Strategy
 
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Savings for your child's college education can be daunting. Setting up a college savings plan using our Wealth Accumulation Strategy, you will have no risk of loss and it will give you a higher return compared to a 529 plan. For more information contact Wesley Laird at 678.789.4663.
Просмотров: 278 Tracy Cox Witherspoon
5 Strategies for College Savings Success
 
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5 Strategies for College Savings Success
Просмотров: 2053 FranklinTempletonTV
What's the Best Way to Set Aside Funds for Future College Costs?
 
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http://www.eafsi.com (503) 537-2995 One way to plan for your children's college education is through a 529 plan, which is an education savings plan operated by a state or educational institution. The name 529 comes from section 529 of the Internal Revenue Code, which created these types of savings plans in 1996. Although your contributions are not deductible on your federal tax return, your investment receives tax-deferred treatment and qualified distributions to pay for the beneficiaries' college costs come out federally tax-free. Non-qualified withdrawals are subject to state income tax and a 10% penalty. College savings plans offered by each state differ significantly in features and benefits. The optimal plan for each investor depends on his or her individual objectives and circumstances. In comparing plans, each investor should consider each plan's investment options, fees and state tax implications. State tax deductions vary by the state of issuance. Plan assets are professionally managed either by the state Treasurer's office or by an outside investment company hired as the program manager. But you have some control over how your investment is managed. You may be able to change to a different option in a 529 savings program every year, although plan restrictions may apply. Everyone is eligible to take advantage of a 529 plan and the amounts you can put in are substantial. The availability of tax or other benefits may be conditioned on meeting certain requirements. 529 plans are subject to enrollment, maintenance, administrative and management fees and expenses. Per beneficiary plans can vary greatly and care should be given to fully understand your 529 plan before you invest. Let us help you decide which 529 plan is right for you. Give us a call today. https://youtu.be/hDIG7l4W5pI?list=PLJ9XTsty5AXASP7A02AS0KpKTUOwX3VLg
Просмотров: 16 Diane Edwards
How to Save for College | Comparing Different Savings Accounts
 
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College costs are a challenge for parents and students alike. Walk through the different options of saving up and the pro, cons, and important facts of each. Ways to Save for College: - Pre-Paid Tuition Plans - 529 College Savings Plan - Education Savings Account (ESA) - Uniform Gifts to Minor's Accounts (UGMA) - IRA Accounts - Savings Bonds - Additional Savings Alternatives If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” https://www.youtube.com/subscription_center?add_user=PureFinancialCFP Channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Просмотров: 182 Pure Financial Advisors, Inc.
529 Plans Can be a Smart Choice for College Savings
 
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The cost of college is higher than ever, making saving smarter more important than ever. One of the best vehicles for doing so is a 529 College-Savings Plan. Money in 529 plans compounds tax free and withdrawals for qualified education expenses are also tax free. In addition, some states offer tax deductions or credits for contributions. But not all plans are created equal - some plans are saddled by high fees and poor investment choices, which can hamper your savings progress and erode your returns. Investors are free to choose any state’s plan, meaning there are lots of options To figure out which plan is right for you visit Morningstar’s 529 Plan Center. http://beta.morningstar.com/articles/809979/morningstars-guide-to-college-savings.html For all Morningstar videos: http://www.morningstar.com/cover/videocenter.aspx
Просмотров: 489 Morningstar, Inc.
529-101: Savings Plan Basics
 
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Education savings expert Susie Bauer explains the ins, outs and potential tax advantages of these popular investment vehicles.
Просмотров: 680 Baird
How to Properly Manage Your Money Like the Rich | Tom Ferry
 
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It's not about how much money you earn. It's what you do with the money that matters. In this video, I'm going to show you a business strategy on how to manage your money. I'm not gonna tell you what to invest in. That's not my role. Here are the best ideas of what the best professionals do to manage their money. Learn more from Tom LIVE at the next Summit event: http://bit.ly/2xgZ6Uq ------------ I hope you got some helpful tips and new ideas from this video. To ensure you don't miss all my FREE training videos all you have to do is sign up here with your email: http://bit.ly/TomFerry-VideoTraining Get a FREE copy of my new book: http://bit.ly/2Bblstw Download FREE Agent Scripts and Resources: http://bit.ly/2iDEjpJ Tom Ferry Coaching: http://bit.ly/2eP8UlA Tom Ferry Events: http://bit.ly/2gQBjbD Join Tom's VIP List: http://bit.ly/2sMb73n ------------- Connect with me on my other social channels: Website - http://TomFerry.com Facebook - http://facebook.com/TomFerry Twitter - http://twitter.com/TomFerry YouTube - http://youtube.com/CoachTomFerry Instagram - http://instagram.com/TomFerry Podcast - http://soundcloud.com/CoachTomFerry
Просмотров: 1372106 Tom Ferry International
529 Plans Explained for My New GrandBaby...and Parents Everywhere!
 
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529 Plans are awesome savings vehicle for college. Imagine that you are parents of a brand new baby like my new granddaughter. You have 18 years to save for a financial event whose cost is growing exponentially. You need to save money using the most efficient, most tax advantaged methods available. That would be the 529 College Savings Plans offered by all states. Watch my video to get an overview of these plans and then go to the website http://www.savingforcollege.com to spend about three days combing through the fascinating collection of all things 529. I think they should offer a t-shirt which reads “ OMG...529!”. I admire dedicated people. *Note: The rules changed regarding how 529 ownership is regarded for families who fill out the FAFSA (everyone should!). Now 529 plans owned by the child are assessed at the same rate as parent-owned 529 plans. This means that both parent-owned and child-owned 529 plans are assessed at 5.6% in order to establish an EFC for that particular school year. However, schools that use both the FAFSA and the CSS Profile financial aid forms are free to formulate their own EFC's. Because of this, a CSS Profile college can assess 529 plans differently no matter who owns the plans. Assessment rates can run from 0% to as much as 25% (or more) on a case by case basis.
Просмотров: 20771 The College Money Mom
Retirement Plans: Last Week Tonight with John Oliver (HBO)
 
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Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips. Connect with Last Week Tonight online... Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight Find Last Week Tonight on Facebook like your mom would: http://Facebook.com/LastWeekTonight Follow us on Twitter for news about jokes and jokes about news: http://Twitter.com/LastWeekTonight Visit our official site for all that other stuff at once: http://www.hbo.com/lastweektonight
Просмотров: 9430441 LastWeekTonight
College Savings | Gideon Strategic Partners
 
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With the increase in the cost of education it has become increasingly important for clients to start planning earlier. Here at Gideon Strategic Partners we can help design a flexible, tax efficient savings plan tailored to each individual client’s needs. For more info, please visit: https://www.gideonsp.com/
Просмотров: 29 Gideon Strategic Partners
RESP - Registered Education Savings Plan
 
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The video provides an overview of an RESP - Registered Education Savings Plan. The video talks about how parents can save for their children's education.
Просмотров: 2690 Canadian Tax Guide
Alternative College Funding - Tax Advantaged Income Investing with Indices – Part 3 of 5
 
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Sub Headline: There are Many Ways to Skin a Cat & Alternative College Funding Options As Well Synopsis: There’s no doubt that the cost of higher education has increased dramatically in recent years. Yet, perhaps surprisingly, the number of students enrolling in all types of institutions has increased as well. Watch the interview with retirement expert, Chris Jacob as he outlines Alternative College Funding. Content: If you have investments you’d like to give to your child, you may want to consider opening a custodial account under the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). Through these accounts, a custodian you appoint—which could be yourself—manages investments owned in a minor’s name. Once the minor reaches the age of majority, he or she may assume full ownership of the account. Establishing UGMA and UTMA accounts means designating specific investments for a child’s benefit. By doing so, you may be able to reduce your estate and the taxes the estate could potentially owe. But these accounts also have certain drawbacks. The good news about investing for college is that it’s encouraged bythe tax code. That means that as long as you stick to the rules, you and your child can enjoy the benefits of tax-free earnings. A number of investment programs, suchas Coverdell education savings accounts (ESAs), 529 savings plans, and 529 prepaid tuition plans, let you take advantage of this provision. That can mean having between 15% and 35% more money to spend, depending on your tax bracket. With student loans, applying for financial aid typically means submitting your financial information for review by filling out the Free Application for Federal Student Aid (FAFSA). Most state and federal funding programs—as well as many university-sponsored grants, scholar- ships, and nonfederal aid—require that students fill out the FAFSA, which assesses each student’s eligibility for federal aid by evaluating his or her family’s total assets. All the assets in 529 plans, UGMAs UTMAs and Coverdale accounts are included in the FARSA asset calculation. But did you know the assets held annuities and cash value life insurance are not included in the FAFSA application. This means by allocating assets to these two financial products, the aid could increase significantly because it’s not included in your asset inventory. Indexed universal life is a relatively new asset class and an alternative product for your educational funding strategies. Syndicated financial columnist Steve Savant interviews retirement expert Chris Jacob, CFP on Tax Advantaged Income Investing with Indices. Steve Savant’s Money, the Name of the Game is an hour-long financial talk show for consumers distributed online in 5 ten-minute video press releases Monday through Friday to 280 media outlets, social media networks and industry portals. (www.lifesizesolutions.com). https://youtu.be/6Uatp5-PhYc
Просмотров: 2042 Steve Savant
529 Strategies for Grandparents
 
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Are you currently funding a college savings plan for your grandchildren, or considering starting? The world of college expenses, financial aid, and 529 plans can be complex. View this recorded version of our webinar on August 16, 2016, to learn about important planning strategies, such as... • How to avoid negative impacts to your student's financial aid access. • Why it matters which family member owns the 529 plan. • Understanding the flexibility inherent of 529 structures. • What factors to consider when choosing between state 529 programs.
Просмотров: 1384 Brand AMG
$5500 per year to tax-free Millionaire: Why you need a Roth IRA
 
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This is one of those things I wished I would’ve learned and had done when I was younger - open up a Roth IRA retirement account. And because it saves you from paying taxes on your earnings and profits later on, I’m all about it. So this is what a Roth IRA is and this is why it’s so important to have one! Click “SHOW MORE” to read my full thoughts. Also feel free to add me on Snapchat / Instagram: GPStephan So here’s what it is - and because this confused me when I was younger, I’ll break it down as simple as possible. A Roth IRA is a type of investment account that you can set up where you invest your money today - up to $5500 per year with no immediate tax deductions - and can pull out your profits and earnings tax free when you’re 59.5. That means you pay NO TAX on YEARS of compounded interest and earnings. Your tax free profits just makes you MORE tax free profits. And it snowballs into a LOT of money. This is best done when you’re young for a few reasons…the money you invest in a Roth IRA is done post tax, which means taxes are already taken out of the money that you earn at the time you invest it. So if you make $20,000 from a job, you might be left with only $17,000 after paying taxes…so this $17,000 is now “post tax” money. The reason is best when you’re young is that chances are, you’re not earning a ton of money compared to what you WILL be earning. When you’re earning a lot of money, it’s about reducing what you owe in taxes because the more money you make, the more money you’re generally taxed. When you’re not earning a lot of money, you’re already in a lower tax bracket, so it’s advantageous to take advantage of that and pay the taxes now to invest - because in the future, you’ll hopefully earn a lot more money. Especially if you’re 18-30 and not earning a lot of money, this is PERFECT for you. When you start earning more money, there are other accounts that might make more sense for your situation. So here’s what I would do: If you’re under the age of 18 and have a job that you’re making money with, you can ask your parents to open a Roth IRA account for you. From there, you contribute money you’re making from your job - keep in mind you cannot contribute more than you earn, so if you earn $1000 that year, you can only contribute $1000. If you’re over the age of 18, right after this video is done, just go online and sign up for a Roth IRA. I use Vanguard and they’re awesome, many people use Charles Schwab or Fidelity - just make sure the account has low fees. You can contribute up to $5500 of earned income every year - if you make too much money, you can look into doing a backdoor Roth IRA contribution. I recommend putting in as much as you can afford and forgetting about it. The advantage is that since there’s compounded interest, the sooner you put your money in, on average, the more you’ll have by the time you retire. Is this a boring investment strategy? Yes. But it’s effective. I recommend just doing this on the side with what you can afford, while continuing to invest elsewhere or investing in yourself. Just to give you some ideas, if you invest $1000 per year at 18 and retire at 60, you’ll have $264,000…of that, you only contributed $43,000 over 42 years, meaning you just made $221,000 of tax free money. If you invest $2000 per year at 18, same situation as above, you’ll have invested $86,000 and made $444,000 of tax free money. If you invest the maximum right now of $5500 per year at 18 years old, you’ll have invested $231,000 and made over $1,200,000 in tax free money. If you just do $5500 per year at 18 years old, you can retire a millionaire without doing anything else. This average figure includes inflation, by the way. I hope this video helps and that this sets you up for future financial independence. Add me on Snapchat: GPStephan Add me on Instagram: GPstephan For business inquiries, you can reach me at GrahamStephanBusiness@gmail.com Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Просмотров: 340320 Graham Stephan
A 529 plan offers numerous benefits
 
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A 529 college savings plan offers many benefits including tax-free growth of assets, flexibility in naming beneficiaries, high contribution limits, no income limits, and parental ownership and control of the account.
Просмотров: 160 Putnam Investments
Funding College Education, Retirement and Generational Income - Right on the Money – Part 2 of 5
 
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Sub Headline: Life Insurance Can Be Used in a Variety of Income-Planning Scenarios Synopsis: Most consumers are unaware cash-value life insurance has several planning scenarios and tax strategies that can reposition existing assets and redirect monthly contributions from savings accounts to this unique tax-advantaged product. There are saving and investment options to choose from based on your risk tolerance, liquidity needs and financial goals. Content: Life insurance is a mortality product based on the health of the policy insured. The better the health of the non-smoking policy insured, the cheaper the cost of insurance and the potential to generate tax-free income. Once you and your insurance professional determine the underwriting classification results are economical, you need to turn your attention to undergoing a risk-tolerance test to assess your crediting methodology. Life insurance crediting options can be interest rates, indices or sub-account driven. After determining the crediting method, your insurance professional can design the lowest death benefit amount to comply with the TAMRA regulations to create an efficient, non-modified endowment contract. Watch the interview with popular platform speaker, asset management and life insurance specialist Rob Hagg as he discusses using tax-free income generated from a life insurance contract for college education, retirement and generational income as a legacy. A non-modified endowment cash-value life insurance contract can be used as a cash reserve account that accumulates tax deferred and permits access to the policy’s collateralized tax-free loans. A new trend in college planning has emerged for parents with young children to contribute monies to their college funds. Traditional 529 plans can still be used, but some parents have elected to fund their child’s education exclusively with life insurance. In the end, as with all savings and investment products, owner suitability is a key component to the decision-making process. Non-modified endowment cash-value life insurance contracts can also be used for supplemental, tax-free retirement income or as a stand-alone retirement plan. However, recently, these types of contracts have been used in multi-generational planning, not so much for the death benefit, but for tax-free income over generations of progeny. Consider a non-smoking healthy grandmother age 65 and her 5-year-old grandson, who utilize an indexed universal survivorship contract optimized for accumulation. The survivorship contract doesn’t pay until the second death, more than likely the grandson. But access to collateralized policy loans accumulating over the life expectancy of the grandson could be substantial. Under current tax law, try getting your mind around 100 years of tax-free income covering two to three generations. Non-Modified Endowment Life Insurance Contracts are comprised of two types of tax-free distributions: one is tax-free basis; the other is a tax-free collateralized policy loan. To ensure tax-free distributions, Non-Modified Endowment Life Insurance Contracts must be kept in force for the life of the policy insured. Nationally syndicated financial columnist Steve Savant interviews with popular platform speaker, asset management expert and life insurance specialist Rob Hagg. Right on the Money is a weekly one-hour online broadcast for TV and radio distribution. The show contains five ten-minute segments that are redistributed online as individual video press releases. (www.rightonthemoneyshow.com) https://youtu.be/qmix0DBIItc
Просмотров: 1080 Right On The Money Show
What's the Best Way to Set Aside Funds for Future College Costs?
 
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https://www.tushinghamwealth.com (866) 505-9016 One way to plan for your children's college education is through a 529 plan, which is an education savings plan operated by a state or educational institution. The name 529 comes from section 529 of the Internal Revenue Code, which created these types of savings plans in 1996. Although your contributions are not deductible on your federal tax return, your investment receives tax-deferred treatment and qualified distributions to pay for the beneficiaries' college costs come out federally tax-free. Non-qualified withdrawals are subject to state income tax and a 10% penalty. College savings plans offered by each state differ significantly in features and benefits. The optimal plan for each investor depends on his or her individual objectives and circumstances. In comparing plans, each investor should consider each plan's investment options, fees and state tax implications. State tax deductions vary by the state of issuance. Plan assets are professionally managed either by the state Treasurer's office or by an outside investment company hired as the program manager. But you have some control over how your investment is managed. You may be able to change to a different option in a 529 savings program every year, although plan restrictions may apply. Everyone is eligible to take advantage of a 529 plan and the amounts you can put in are substantial. The availability of tax or other benefits may be conditioned on meeting certain requirements. 529 plans are subject to enrollment, maintenance, administrative and management fees and expenses. Per beneficiary plans can vary greatly and care should be given to fully understand your 529 plan before you invest. Let us help you decide which 529 plan is right for you. Give us a call today. https://www.youtube.com/watch?v=J_AGhtP21kA&list=PLD0PqLJ1GXTS4oNPb6ivj9GTRIaucrfvS&index=320&t=0s
Просмотров: 17 Jill Addison
Say goodbye forever to the 529 Savings Plan
 
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529 savings plans have been the first choice for many investors seeking higher education financing. However, when time horizons are long, conservative investments under perform the market, which means less money available when the college tuition bill comes due.
Просмотров: 166 Index Strategy Advisors, Inc.
College Savings for High Net Worth Individuals
 
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This presentation focuses on the advantages of 529 Plans and some of the reasons why they are considered the premier college savings vehicle for wealthy individuals. The presentation emphasizes the 529 Plan as a tax advantaged planning strategy for parents and grandparents who aspire to pay for the college expenses of their children and grandchildren. This video is not intended to serve as a recommendation - please consult with your tax advisor and a qualified college savings expert before making any decisions.
Просмотров: 121 CanonCapital
529 Plans' Trifecta of Tax Benefits
 
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ATM #167 Part 2: John Gjertsen of D.L. Blain & Co. discusses the tax benefit of 529 plans and why you should save for your own retirement before thinking about college savings.
Educational Tax Breaks
 
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Brian Nash, owner of Nash College Planning Strategies, is a college planning advisor who steers parents through the confusing and frustrating financial aid process and student positioning . Brian has also written the free eBook "How to Beat The High Cost of College", filled with important financial planning advice that can save parents tens of thousands of dollars on their child's college tuition. CONTACT US PHONE: (951) 225-4622 EMAIL: Brian@nashcps.com WEBSITE: http://www.NashCollegePlanning.com FACEBOOK: http://tinyurl.com/nashcps **************************************** In this short video, Brian Nash, a college financial aid consultant, helps parents of college-bound students navigate the challenging and confusing tax code to take advantage of educational tax breaks. This video includes real tax advice that viewers can use to get back thousands of dollars on college spending. The federal government is constantly making changes to the tax law, which can make it difficult for regular people to keep up with all the tax breaks they might be eligible for, including tax breaks for spending on your child's education. So please add this video to a playlist and check back from time to time to look for changes. I've done a lot of research and in this short video I will share some of the most important tax breaks you need to know about in order to get a little of that money back from Uncle Sam. Here are some of the most common educational tax benefits that you need to be aware of: • Withdrawals from qualified state tuition programs (like Section 529 plans) are now tax-free. • Coverdell ESA's (the old Education IRA's) are bigger. Instead of being capped at $500, beneficiaries under the age of 18 can now receive up to $2,000 per year. There's no tax deduction for the contribution, but the tax is deferred on the fund's growth and withdrawals are tax-free for qualified expenses. There's also a useful loophole in this law: while there are income limits for high-earning contributors, anyone can contribute, including lower-earning relatives. • The "American Opportunity Credit" has been increased. Parents are able to receive a 100% tax credit of up to $2,500 of each child's tuition fees for the first two years. 40% of this credit is now a refundable credit which means that you can receive up to $1,000 even if you owe no taxes. • The "Lifetime Learning Credit" has remained the same. For the tax year you may be able to claim a lifetime learning credit of up to $2,000 for qualified education expenses paid for all eligible students. • Deductions for the interest paid on qualified student loans have been expanded. The interest deductions have been raised to $2,500 and the deduction will no longer be limited to the first 60 months of interest payments. It's important to note that there are exceptions and uncertainties about these tax breaks. For example, some upper middle class families may not qualify for many of the benefits, especially individuals that earn more $60,000 or joint filers who earn more than $120,000. Also, applying for one credit may make you ineligible for another. The same child, for example, cannot earn you both a Hope Credit and a Lifetime Learning Credit in the same year. Nor can you claim either of these credits for expenses paid with money pulled out of 529 Plans or Coverdell ESA's. Most importantly, many of these benefits will have an effect on your Expected Family Contribution. Picking up a Hope Credit or Lifetime Learning Credit, for example, will leave you with more untaxed income. That means colleges may lower their financial aid packages. You should still end up paying less money, but you'll need to figure out precisely how much. Want to learn even more about how the current tax code can benefit your college spending? Visit my website at http://www. NashCollegePlanning.com and check out our next video. My goal is to make college financially possible for every family.
Просмотров: 1209 NashCollegePlanning
Simply Money: College Savings Strategies
 
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Is a 529 Plan a good option when trying to save for college? What's the benefit of a UTMA? Nathan Bachrach of Simply Money breaks down different strategies you can use to fund your children's continuing education.
Просмотров: 195 SimplyMoneyTeam
Maximize Your RESP - Tax Saving Strategy # 6 for Your Retirement
 
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http://retirementtransformation.com/blog/ - shares with you a very easy to follow but very powerful tax saving strategy which can be done by any Canadian. This is called maximize your registered education savings plan (RESP) and benefit from the tax saving for your children and support the higher education for your kids!
Просмотров: 4856 TransformRetirement
U.Fund: The Massachusetts 529 Plan
 
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The U.Fund is a special, tax-advantaged 529 plan that helps parents save for college. MEFA's Director of Public Affairs Martha Savery, explains the U.Fund 529 Plan, how to put money aside specifically for college, and how it can help families start saving and planning for college early. Learn more about how the Massachusetts Educational Financing Authority (MEFA) can help you plan, save, and pay for college - visit us at http://www.mefa.org!
The Tax Reduction Network - Learn Vital Tax-Savings Strategies
 
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http://www.thetaxreductionnetwork.com - (610)945-1954 - The Tax Reduction Network is designed to help individuals and business reduce the amount of taxes they pay to the government each year. We do this by providing educational information and by working directly with our clients to customize a plan designed to reduce their specific tax liability while giving them the tools they need to gain the financial control to lower their tax liability. Remember, if the program doesn't save you more money than it costs, then it's a waste. At The Tax Reduction Network, we will only provide our services if we can save you more than it cost you to hire us.
Просмотров: 264 SearchworxX
Clark's guide to saving for college
 
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Saving for your child’s college education can also save you on your tax return. Which types of plans you should look for, and which ones to stay away from.
Просмотров: 2483 Clark Howard: Save More, Spend Less
Virginia529 - Plan Your College Tuition | NewsWatch Review
 
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A 529 plan is a college savings account that encourages you to save money tax-free for higher education. Each state offers a 529 plan and the Virginia529 plan is the largest in the US. You can open an account online and set up automatic payments to help you reach your savings goal just by starting with $25. If you don't live in Virginia you can still invest in a Virginia529 plan, but take a look at your home state's plan first because they may offer a state income tax deduction for residents. To learn more, visit http://virginia529.com/ today. Watch more Biz Report videos at http://bit.ly/1R0s1kC. Subscribe to NewsWatch: http://bit.ly/1c2zSy9
Просмотров: 1919 NewsWatchTV
Retirement Planning in Your 40's - Financial Planning Advice for Retirement - 5 Smart Moves
 
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Here are the smart financial moves you need to make in your 40's to keep your financial life on track. Download the 8 Steps to Organize & Optimize Your Financial Life: http://bit.ly/OrganizeAndOptimize. Scott Weiss is a Fee-Only Certified Financial Planner. Subscribe to my channel: http://bit.ly/scottweisscfp ******************************************** Learn more about working with Scott at Weiss Financial Group Here: http://www.weiss-financial.com ******************************************** Subscribe to my blog: http://www.mahopacmoney.com ******************************************** Get Social -------------------------------- LinkedIn: https://www.linkedin.com/in/scottgweiss Facebook: https://www.facebook.com/WeissFinancialGroup Twitter: https://twitter.com/_scottgweiss ******************************************** Video Notes: ---------------------- You’ve got some important work to do in your 40’s to get your financial life in order. Here are the smart financial moves you need to make right now. THE SANDWICH GENERATION Once you hit your 40’s you may be “sandwiched” between taking care of your kids and your elderly parents or relatives. This stage of life is often referred to as the sandwich generation. TIP: Maintain Planning Efforts Despite Additional Stresses With increased financial pressures, you’ll want to try and maintain your retirement planning efforts in the face of these stresses. Here are the 5 smart moves to make SMART MOVE #1 MAINTAIN YOUR EMERGENCY FUND TIP: Make This a Top Priority! Make your emergency fund a top priority. With all your responsibilities at this stage in your life the importance of your emergency fund increases. Read my blog post on emergency funds to help you figure out what you need and how to maintain it: https://mahopacmoney.com/2016/02/02/how-big-should-your-emergency-fund-be/ What's an Emergency Fund? An emergency fund is a stash of money set aside to cover the financial surprises life throws your way. These unexpected events can be stressful and costly. Some of the top emergencies people face include Job loss, medical and dental procedures, and insurance deductibles. SMART MOVE #2 ADD TO RETIREMENT SAVINGS TIP: Make Sure You Are Contributing Regularly Make sure you are regularly contributing to your 401(k) or other retirement savings vehicle. Hopefully you’ve already been doing this, if not, get going. You want to be putting aside at least enough to get the company match but your ultimate goal really should be to max out your contributions. SMART MOVE #3 CREATE A COLLEGE FUND TIP: Don’t Dip Into Retirement Funds to Pay for College You may have teens or pre-teens at home, and if you have not yet considered creating a college fund that can grow and compound over time, now is the right time. You should not dip into your retirement fund to pay for their college educations, no matter how onerous college loans may seem. SMART MOVE #4 CHECK YOUR INSURANCE TIP: Life Insurance & Consider LTC as You Get Closer to 50 Make sure you have proper coverage or if adjustments need to be made. Also, you may want to start considering long term care insurance particularly as you get closer to age 50 SMART MOVE #5 START ESTATE PLANNING TIP: Update Your Will and Consider Trusts The rule of thumb is that if you're acquiring assets like real estate or cars, which is probably what you are doing in your 40’s, then it’s time to start thinking about your estate. You definitely want to have will and you may want to consider a trust. For a more detailed explanation of what wills and trusts can do for you, watch these videos: What is a Will: https://www.youtube.com/watch?v=XqaDQK8g6U4 How Trusts Work: https://www.youtube.com/watch?v=5ifFpehHjJQ Sources: --------------- 1. This material was prepared, in part, by MarketingPro, Inc. Disclosure: ------------------- Weiss Financial Group is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein. Insurance products and services are offered through individually licensed and appointed agents in all applicable jurisdictions. The advisers at Weiss Financial Group are not attorneys of a law firm but can provide guidance to the client’s other professionals. Leave me a comment to ask any question or contact me through my website if you'd like to see if I can help you.
Просмотров: 17831 Scott Weiss, CFP
529 College Savings Video
 
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Looking to put money away for college? 529 college savings plan may be one option.
Просмотров: 108 McNamara Financial Services
How To Make Your College Savings Tax Free and Recession Proof with Exponential Growth
 
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With Student loan debt being over a trillion dollars, parents still paying their own student loans, Wall St 529 plans and the stock market funds remaining unreliable,you may want to consider: SAFETY, GUARANTEES, AND SECURITY!!!
Просмотров: 86 CollegiateFinancial
College Savings Plans of Maryland Account Holder Video
 
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Maryland 529, formerly College Savings Plans of Maryland account holders explain why it is important to their families to save for their children's or grandchildren's college education, and why they chose to do so with Maryland's 529 Plans. To learn more visit Maryland529.com.
Просмотров: 895 Maryland 529
Lies You've Been Told About Saving For Retirement (401k, IRA, House)
 
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Free Training To A Brand New High-End Career (limited time only 2018) https://www.besthighendcareer.com/webinar You've been told to put money in a 401k, but do you know the average return? What's the difference between a 401k, IRA, and trading stocks? Is a home a better investment than 401k or IRA? Article that agrees that in real life, you'll get about a 5% return on 401k's http://www.interest.com/401k/news/kin... James Altucher says that you shouldn't buy a house at all: http://www.jamesaltucher.com/2011/03/... The #1 internship marketplace exclusively for college students and new grads ➡ http://www.wayup.com/refer/engineered... ⬅ https://Facebook.com/EngineeredTruth https://Twitter.com/EngineeredTruth https://www.instagram.com/EngineeredtTruth/
Просмотров: 316233 ENGINEERED TRUTH
Future Scholar 529 Tax Time Commercial 2014
 
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To learn more about the tax advantages of a 529 account, please visit www.futurescholar.com
Просмотров: 261 Curtis Loftis
Coverdell Education Savings Account (ESA)
 
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This video discusses the Coverdell Education Savings Account (ESA). The Coverdell ESA is a savings account that you can set up to help pay the educational expenses of a designated beneficiary. Anyone can set up and make contributions to a Coverdell account, provided his or her modified adjusted gross income does not exceed a certain threshold. Contributions to the Coverdell ESA are not tax-deductible, but the earnings that accumulate in the account can be withdrawn tax-free if used to pay for qualifying educational expenses. Qualifying expenses include things like tuition, fees, and books at elementary schools, secondary schools, and colleges. The designated beneficiary must be under 18 years old or have special needs and must use the funds by the age of 30. The beneficiary can be changed at any time, and the maximum a beneficiary can receive in a single year is $2,000 regardless of how many people contribute to the Coverdell ESA. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Просмотров: 1936 Edspira
California's ScholarShare 529
 
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California's ScholarShare 529 is available to residents of any state. It offers a variety of investment options from TIAA-CREF, T. Rowe Price, and others.
Просмотров: 4888 saving4college
NJ's 529 College Savings Plan | Steve Adubato | NJ Capitol Report | Rafael Pi Roman
 
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Roger Michaud, Senior Vice President, Franklin Templeton Investments, and Gabrielle Charette, Executive Director, NJ Higher Education Student Assistance Authority, talk about NJ’s 529 college savings plan, which recently reduced its fees and offers a great return on investment. 7/5/14 #417
Просмотров: 386 Steve Adubato
529 Plan Expansion - 2017 Tax Bill
 
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The new tax bill has expanded the use of 529 plans. Acorn Financial is an independent, fee-based wealth advisory firm with a mission to enrich client’s lives. We help success-oriented people map out clear financial strategies to navigate life’s transitions and milestones with confidence. Phone: (603) 595-6848 Email: info@acornnh.com Website: www.acornnh.com Facebook: https://www.facebook.com/acornfinan/ Advisory services offered through Commonwealth Financial Network, a Registered Investment Adviser.
Просмотров: 16 Acorn Financial